The New York herald., 1873-11-11
FINANCIAL and COMMERCIAL
IN STATU QUO.
Speculation Waiting On
Further Facts.
STOCKS A TRIFLE FIRMER.
Is the Real Situation Prac-
tically Changed?
M o N E " H A - i H H.
Gold Steady Railroad and Gov
ernment Bonds Firm.
WALL STREET,


MONDAY, Nov 10-6P. M.
In view OF the general dulness OF the market
there is little to be added to the comments that
have been made from day to day. with reference
10 stock operations in the absence of the positive
news from the Bank OF England, on which they
counted, the "buls" were able to communicate to
the market a certain tone, which does not seem to
be warranted by 1.-THE logic of eventsn and they
succeeded in driving ont very considerable short
interest. The vacuum was filed, however, in fear
and trembling, the ventures being small and the
speculation irresoute because OF the suspicion that
within the near future prices win be lower than
those here tOiore recorded. Practically, the real
situation Is unchanged. We are still in the midst
Of commercial maelstr0m. The news from Eng
land is not comfortable Distrust having CON-
menced it is not likely to stop. We have uDfortu-
natey seen its operation in America, and know
something OF its footsteps. The shrinkage in the
price OF cotton amounts to more than hundred
millions OF dollars. The shrnkage in railroad
rites, as compared with anti-panlc quotations,
must be three times that amount. The question is,
Have we touched bottom2 Admitting the fact,
where is the capital that viii rush in ana fill the
gapf In other words when, how and to what ex-
tent can we with the means at hand, recover9
The solution Of the problem depends on many con-
diti0ns.
THE MONEY MARKET.
The money market was to-day respondent TO the
various influences that have been at work in its
favor and permit the record OF rates as low as 7
per cent and finally at and per cent. In fact 1t
may be said that it was with some difficulty that
money found employment at the latter rates.
Foreign exchange in actual business is quoted
lower, sales OF oHg sterling having taken place at
1861 less u, and 1854 for sgnr. Commercial bills
were unchanged.
THE LONDON MARKET.
The latest London quotations showed New
York Central at SO TO- Central Pacincs at
Frankfort at 70 and sterling at Frankfort
1880. The private dispatches report an un-
changed condition. Press dispatches, however,
state that money was loaned to-day at 10 13 per
cent, and there IS no doubt Of an advance in the
bank rate. The amount OF bullion which went into
bank to-day was f73,O0 Many rumors Of failure
are current. Consols are quoted at 921s 921s;
Erie, s4A.
THE NEW YORK BANKS.
Reports from these indicate that they have ac-
quired very nearly s24,OO0,0 600 OF legal tenders.
Whether they are literally discountlng and thus
anording relief to the mercantile community, or
whether they are simply accommodating at the ex-
pense OF that community in order that they may
make q show OF strength, is a question yet to be
determined. But they do hold key to the situa-
tion.
GOVERNMENT BONDS.
Government bonds were firm III the late
dealings, but without important change in
prices. The following are the latest quotations.
United States skies, 1881, registered, ILL., United
States skies, 1881, coupon, 1l214 113; United
States fve-twentles, 1852, coupon 106 106ls;
United States fve-twenties, 1854, coupon, 1861
q 108; United States fve-twentes, 1885, coupon,
l07A; United States fve-twenttes 1855, coupon.
new, 1l0h: United States fve-twenties, coupon,
1867, 111k q l11H; United States fvetwenties,
coupon 1865, Ill; United States ten-forties, reg
fstered, 104H 105h; United States ten-fortes,
coupon, loeX q 1o7; United States six per cent
bonds, Pacific Railroad, 1895 lOs'l.
THE UNITED STATES TREASURY
The Assistant Treasurer paid out to day $S5, 900
on account Of interest anu $4S, 900 in redemption
OF hve-twenty bonds The Customs receipts to-day
were $2Qs,00o. The receipts from internal revenue
amounted to SAC, ,232. The Treasury balances re-
ported from Washington to-day at the close OF
business were :-Currcncy, $3,3 ,8l4; special de-
posits OF legal tenders Tor the redemption OF Ger.
tifcates Of deposit. $lo71ooOO; coin, $7s, ,eo0925
including $2s, lac, $50 in coin certificates; outstand
ing legal tenders, 1851, 1921. ea 1s
THE GOLD MARKET.
Gold was quiet, prices ranging from lo7x to
lO7X, with the bulk OF business done at 1o7H al 7
It may be Of interest to the curious to the uc.
tuations, which were as ollows:-
10 4. .M.............107x l2:45 p. P.M.........10715
1o:aS 1oaS MM.....11oS, if;H !; M......l1o7A
1O:45 A. M....... 10Tss 80 p. ..101h
IL A. M. ............107h las r. M...........1O7ss
Ills A. M..........lo7h 2Pp: .lo7S