The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-11-06

New Esr I. sSsooix sa..l IN 0.,oy Marriott
New YORK. Nov. 5-Mornino.-Mon; at per
cent. Gold at 1919. Sterling Exchange at 1861 "a
los.
NEW YORK. Nov. 5-EUenina.-T The day in fnan-
cal circles has been gloomy one. and although the
markets were devoid OF any panic or eXcitement-
the shrinkage in values gradual and almost I'M
in errupted from the opening to the close Conf
dence seems to have been shaken again. and the re-
newed depression to-day was the natural result Of
the SUSPENSION of the California & Texas construc-
ton Company, the many unfavorable reports about
the PENNSYLVANIA and Reading Railroads, the decline
in securities in London and the rumored embarrass-
ments of firms the prospect of an advance in the
Bank of England rate and the reported railroad defa-
cationhere On the Stock Exchange the decline rang
from ] to Al per cent. and the New York Central
touched the lowest point since the panic commenced
The decentralization of the foreign exchanges was a
prominent feature of the day. and arises out of the
scarcity of money among merchants and some fear
about the situation at London.
The price of I'D fell 10 the lowest point since the
early part of 1862 when the emission of paper money
by the government commenced. The result of the No
vember elections was interpreted meaning fur
Their issues of paper money and effort to return to
specie PAYMENTS This naturally had some influence
speculation in the Stock Exchange and in the gold
room. The day closed with very little recovery
from the extreme depression
Money closed at per cent. after leading at 1-13 a
per cent. per diem. The banks hold about
$4,000, 600 in greenbacks.
The following is the Clearing House statement
Currency exchanges, S73 266,732; currency balances
S3O74756; gold exchanges $2,6936O5 gold balances,
S85S 43s.
Foreign Exchange was dull and lower closing at
105f a l05s for prime bankers 60 DAYS sterling and
1913 0 1913 for sight. Commercial bills were very
depressed, selling at 104l903i with some bills off col
orat 1922 The custom receipts to-day were 100000.
The unsettled condition of affairs and the demoraza
ton of foreign exchanges are affecting domestic
export trade.
The total shipments of produce from this port for
the week ending yesterday amounted to $685., 1856
mixed values, which is decrease from last week of
$452 049. Gold was heavy and lower, declining from
1918 to 1863, and closed at 1911 The rates paid for
carrying to-day 364 1-16, 1-32 and per cent.
the final rate was Lie per cent. The Asst. Treasur
paid out to-day $3.50 900 account of interest and
Sl46,000 in redemption $50 bonds.
The days business &C the Gold Exchange Bank
follows Gold balances 81 ,314 PAS; currency
balances $1f73,s77 gross clearances $36,s12. OO0.-
n raj Pacific bonds closed at 50 to 81 and Union
Pacific at 6S to $50 for first 81 to SIT for land grants
and Az to Al incomes. State bonds dull. Govern
ments heavy. The stock market has ruled weak and
lower, the decline ranging from to Al per cent The
extreme low prices were touched shortly before the
close, and ia some cases they were the lowest yet
made just before the close of the market rallied but
the improve in prices slight. The largest
transactions were in Western Union. New York Cen
trial. Lake Shore, Wabash, and UI ion Pacific. Erie
declined in sympathy with the London market The
transaction were as follows New York Central
orened at S62 went down to 775 and closed at 7s5 az
7Ss; Union Pacific opened at IT, went down to l5a
and closed at 15a q 155; Western Union opened at So
went down to 49, up to 47s down to 49, and closed
at 49, g 46l Erie opened at 49, went down to 40 and
closed at $50 g 40,