The New York herald., 1873-10-16
INFLUX OF CAPITAL.
An Opportunity for InVestment---Priees
Low and Inviting Figures.
THE MONEY MARKET.
Foreign Exchange Dnn
and Lower.
GOLD STEADY.
WALL STREET.

WALL STREET, !
WEDNESDAY Oct l5-6 P. M.
wall street to-day was the scene OF strong re-
action. The decline OF yesterday, presenting as 1t
did, favorable opportunity for investment invited
fresh orders, and these have shown their influence
in large individual remttances which, distributed
among the brokers, have made an active market.
The outside purchases to-day have been unusually
large, ana il is but fair to that II the
ket remains at It's present minimum the business
from abroad wnl be largely increased. The stock
market never has been in q more favorable condi-
tion for those who desire to speculate than it Is at
the present moment 1t may suffer incidental
drawbacks by reason OF
COMMERCIAL DISTURBANCES
or other similar causes; but, If we may reason
from the experience Of many years, 1t scarcely
seems possible that an investment in a dividend
paying should fall to secure to its possessor
q fair and handsome profit in its various specula-
tive conditions. The market is abnormally low
too low to be consistent with the external situa-
tion-and, possibly, it is for this reason that we'll
known capitalists. as well as individual investors,
are quietly making purchases at present figures,
strong In the belief that thirty or sixty days will
largely compensate them for present risks. The
advance OF to-day is only the logical reaction Of
panic IN which stocks were thrown over and sacrl-
feed Tor other reason than that
other people set the example; but it has
proved costly one and capital, always sensitive
recognizes the fact. Hence the strong advance in
values which win be found recorded below. The
most
MARKED IMPROVEMENT
was in Lake Shore, Western Union, Harlem, Pana-
ma, Delaware, Lackawanna and Western New York
Central Rock Island, Wabash and Pacific Mail.
Lake Shore tell of from 6l4 to 571s, advanced to
81, and reacted to 65sl. Western Union declined
from 81 to 45. rose to 54z and finally sold at 52%
Harlem dropped from 103 to 100 and later reached
LOG. Panama rose from so to &c. and Delaware,
Lackawanna and Western from so to S5h +; New York
Central sold at s5 50 s7I s67S; Rock Island
AT 80 81 s7h a S5 S7A s6A; Wabash
at IS a 32% q 391 SSI, and Pacific Man at
26 25 a 312s 30n.
THE MONEY MARKET
was scarcely quotabe, in consequence OF the ir-
regularity OF the rates. The pressure was very
great and the bulk OF the business was done on
the basis OF q u per cent per diem, with excep
tional transactions per cent gold and cur
rency, late in the day. The rule however, applies
more to the Stock Exchange than to mercantile
circles. Real stringency is chiefly confined to Wal
street. Legitimate business meets with larger ac-
c0mmodation. Greenbacks were 1rmer to-day and
more active, the premium ranging from n to per
cent. Foreign exchange was dull and decidedly
lower bankers sterling having sold at LOG q 1867
for sixty days and 107 1914 Tor sight.
THE GOLD MARKET
presents no new features for comment The
figures declined from lo9h to 1881 and closed at
IoSh. The rates paid for carrying to-day were 7,
l-s2, 1-16 u, 3-l6 u, and per cent gold. and for
borrowing nat. The final rate was a per cent, for
carrying. 1t should always be borne in mind that
gold reflects the stringency Of money. 1t is only
merchandise" and withal the poor little apex OF
an inverted pyramid which represents s7oO0O0.0oo.
THE UNITED STATES TREASURY.
The customs receipts to-day were s229,oOo. The
internal revenue receipts were s229,2l5. The fol-
lowing are the balances in the United States
Treasury at Washington
Special deposit OF legal tenders for re-
demption OF certificates OF depost.... 11,340000
Coin Uncudlng S3i, 1875, 400 CON certih-
Outstanding legal tenders. ............ a60 1872 SSS
The Assistant Treasurer redeemed $1,000 in
called hve-twentes and dlsbursed 1000 in coin
interest on the public debt.
FOREIGN MARKET
London adyices report f93.O00 withdrawn from
the Bank of England for shipment to Alexandria
and Copenhagen The closing quotations
follows : Consols for money, 90 3-l6 92 5Ie; con-
soils for account e2Js 92 ole; fvc-twenty bonds
OF 1865 (od), 96H 964; fve-twenty bonds Of
1867, 96i4; ten-forty bonds, 90; fves, 90; Erie
Railway shares, 50 a 39l4. f155, 900 in bullion was
shipped from Liverpool for New York to-day by the
steamship Egypt. American securities closed
strong Rentes in Paris advanced to 57L 4ec To-day
is ticket day and tomorrow settling day at the
Stock Exchange. The rate OF discount in opeo
market for three months bills is So per cent.
GOVERNMENT BONDS.
In the early part OF the day government bonds
were weak and lower, but later they recovered.
We quote limited States skies, 1881, registered,
113T a 1l4H; do. do. do coupon, l13; do, fve-
twenties, 1862 coupon los LOG; do. do, 1854 do,
los 107; do do, 1865 do, 107 a 10S,l; do. do.
1866, do, new, ITO; do. do, 1867, coupon 111&
111A; do. do, 1868. do l1l5s 11lh ten-forties,
registered, LOG q 1861: do. coupon log 1907 I;
nves, 1884, coupon, 1861 1o7; six per cent Pacific
Railroad bonds, 100 109h.
RAILROAD BONDS
were weak in the early dealings. but prices after
wards improved. Union Pacific hrsts advanced
from 71h to 73h, and land grants from 631a to
sax. The latest bids were as foows:-
Erie 9TH m rs 's0..... IS ct West lst s6..... IS
Hud rs, I'd IN, ST S5. .lU Chic Pac.. ..... 9Is
Chic Bur SIS, lst l05 Morris Essex LIST. I02a
Men so 4 sf Ts..1U0 New Jer Cent, LIST m, n. 0u
G.. A old bds.. 70 PITTS. rtW Chic lst. .Ol
Cen racific god bds.. 81 Pitts, rtW&Chc I'd va
Union rae lst IN bds... rs Chic Alton sr.......W0
Union Pac l Y Ts..... ca Chic n Alton incomc... 10
Union income IUs .. 40 1T Louisa NJ Istm.... 30