New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-03
SATURDAY, Nov. Up. M.

The week and month close upon further depression
in the general trade of the city, growing partly outof
the failure of the heretofore strong mousse OF boyt
Spr.Ques q Co., and the rumored failure OF one OF
our most extensive dry goods hrms when Is fortu-
nately likely to prove false rumor The failure Of
Hoyt, spragues & Co. pave shock to the financial
community someking like that caused by the sus-
pension Of Jay Cooke q Co. IN the carrier
days Of the panic. but less severe because OF
The ouito general belief that the liabilities
of the former company will be ultimately met dollar
for dollar the latest information indicating anex-
tension on the part Of the creditors OF the house
which willenable it to avoid the bankruptcy courts
and the fearful sacrifices usually attending snch
proceedings In the breadstuifs market there has
been but moderate fluctuations with httio lower
prices for shipping grades of -four. Wheat Is lower
with fair activity at the decline. Inc PROVISION
market is depressed, and ocean heignts Me
higher. In groceries the market has favored
bnvers with limited business at the concession
The dry goods trade perhaps slightly improving
during the earlier part of the week. but met Wild a
serious setback further along in the failure OF hoy
spragues g. Co. and the rumors OF other aiiureS
which have not as yet taken place ana IL Is 70 DO
hoped will not. We have had further decline in
cotton, the quotations to-day being 14sc. for low
middlngs and lie for mddling. The total re-
CelptS 1Or Ine Week NtIb lvo'VO' p"h''t "0"~
100 459 bales last week and the total receipts since
Sept 47O078 bales against 9S9 bales for the cor
responding period of last year, showing decrease
of 1891 bales The exports Of the week have been
81 G94 bales against 81 sci last year. The stocks OF
cotton in sight amount to 246,Se0 bales The banks
have been strengthening themselves by adding 70
their reserves The pooling arrangement mas
been discontinued and the banks have about
S1s 600 in epa-tenders of which it Is SAID they
gained S4OO00O0 yesterday but probably tels al
legged gain is more nominal than real, being largely
made up. no doubt, Of money which has been IN tho
banks all the time in the form of special deposits IN
some cases suddenly transformed in special deposits
to keep it out of the pool The fears Of the possible
failures Of some of the weaker banks as likely TO TO
suit from discontnuance Of equalization of legal
tenders have 30 far proved groundess. The attempt
of the Treasury to resume payment in silver coin
has thus far proved contemplate "hzzle." tho
Treasury having paid out 80 far tho
magnificent sum of $2,lOO in silver
change. The money market has been
ftful during the week, ranging from per cent per
annum to ! per cent bonus and interest, somewhat
according to the securities offered, the higher rates
resulting, not so much from a scarcity of loapable
funds as from the difficulty of presenting satsfac-
tory security The market for mercantile paper mas
been quite demoralized, with very little doing ont
side OF the D1Eks CuCu lIauaCtlOiio IL HH'N "'NiA
made have been at IS to 81 per cent with
single name exceptions at ?! per cent per month.
The business IN State bonds has been next TO moth
ing. while the market for Railway mortgages has
been very greatly depressed in those securities
which have never failed to promptly meet their IN
terest obligation The result is doubtless due partly
to the general lack of confidence In securities and
partly to the failure of certain railway companiesto
meet the October and November interest on their
bonds. In railway shares there has been. AZ
will be seen by our weekly table Of prices, very
wide variations, and in many cases the low
est quotations since the commencement OIL tna
panic, though there was very handsome up
ward reaction this afternoon. The gold mar
ket has been without excitement, and prices
have nuctuated only between 1C8b and 10S3. United
States bonds have declined from 1 to per cent on
small transactions. Foreign exchange has been duh
during the entire week, with liberal offerings Of
bankers and commercial bills and a marked de-
preston in 60 day drafts. To-day the stock
market opened under great depression. being
no doubt unfavorably affected by the news Of the
increase in the Bank of England rate Of discount
and the various rumors of heavy failures among our
prominent mercantile firms but later in the day.
when it became known that prominent house.
which had been reported "a having failed, had OBJ
tanned such aid from mercantile friends as would
carry it safely through its difficulties, and
that the Spragues would probably get through
without going into bankruptcy, operators
at the Stock Exchange partially recovered from
their scare and prices made a handsome upward
movement. Possibly some portion of the advance
may be attributed to the covering of the shorts
The advance from the lowest prices of the day to
the highest range from per cent in Erie 10 per
cent in Lake Shore is follows Western Union,
g.; Rock Island a.; N y Central and Wabash.
each 4; n. w. Preferred and st. Paul Common;
Delaware, Lackawanna and Western and Pacific
Mail each 81; Northwest Common, % ST. Paul Pre-
ferred q Harlem and Ohio and Mississippi, each 2;
Union Pacific Il c., c. and l. c., and Hannibal and
st. Joseph, each Il; and Panama Railroad per
cent. The market closed strong and generally at
the highest prices of the day. though there were o
few exceptions. Tho following were the opening.
highest lowest and closing prices of active stocks
sold to-day: