New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-08
Gendinning, Davis & Amory's closing prices were
Reading closed IN pbiIndslphi, q, 100 sales.

all they had gained yesterday. and in some few
cases even more the largest depreciation being IN
Erie which dropped 3. per cent, in sympathy with
its depressed condition in London. and in keep
ing with the distrust and dizziness pervadiDg our
own market. Yesterday there were indications OF
strong buying movement, which tO-day's business
cOntradicts The safer opinion seems to be
that operators buy and sell for short turns,
and that there is no precOneert OF action
among them. The class of spectators
known as guerrillas are in their glory with market
in which they may win or lose from to per cent
on a single turn, and 90 home with no stocks on
hand overnight The two dollar artists las the small
brokers who buy for larger called are evil
IDENTIFY doing tolerabe business, and on principles,
no doubt, that are sound In the matter
of brokers checks tho banks are certifying
only to the extent of actual deposits,
and few stocks are delivered as formerly
on uncertifed checks. THIS necessarily compels FREE
ouent deposits, trouble that Is abundantly COM
pensated for by the fact that it reduces the risks OF
the business and sends the sub-broker home happy
and contented with his little commission IN his
pocket and no outstanding contracts TO deprive him
of his regular modicum of sleep. Toward the close
of the day the outlook became as somber as the
veriest croaker could have desired. The Bank OF
England minimum rate of interest had, as already
stated, been advanced to 8 per cent, while the
market rate in London was fully up to that point,
and the general expectation was that 1t
would be increased still further. Unpleasant
rumors were as numerous as they have
been with our own gOssips and news vendors.
In addition to all this, we have an extremely un-
happy piece of domestic information that our Penn
sylvania Railroad Company has postponed the pay
meut of its regular semi-annua dividend to March L.
lS75-a credit of 16 months the payment OF an
earned dividend! In lieu of cash the Company pays
in scrip bearing per cent interest and payable
March 1875 or within six months, at the option Of
the Company.
Gold opened at 1861 fell of to 1909. and later
reached 1917. The unfavorable adyices from London
and the covering of short contracts made the stua-
ton in the Gold Room appear quite different from
that recently noted. The closing sales were at the
highest point of the day. On gold loans the rates
ranged from per cent for carrying to fiat. The
Assistant Treasurer redeemed $4,000 in called
bonds. oisbursing S265C00 in coin interest. The
davis business at the Gold Exchange Bank was
"a follows: Gold cleared. S45.700O0; gold balances,
s2; currency balances Sl.53G,2SS. The quota
tons were as follows:
lSs Il: So 1863 i:9oIIS77 So iiSS771s
ii co. 1868 i2:$O...iO7 2:OO....,io7s
The business of the United States Sub-Treas-
ury was as follows
u recent. m siOj472 IS Currency psym't.. 42539i 02
ioM psymeus 5Il43l As Currency balsnee 0192O5L ~
Cob 40 26742I - Cusoms..... |J1OUO w
Currency receipts. soooi-o 80
Foreign exchange was frmer, but rates were very
Irregular The leading bankers advanced their ask
ing quotations to 1861 for % days sterling, and 1851
for sight The business in long sterling can be best
stated by tho following street transactions Bel
,nont's bills on Rothschd sold at 1861 to 1906 and
or the international bank at l055 Browns bills at
TO-, TO 1O5.; Citizens Banl: Of New-Oreans on
Barring. 1914. and Matthew Morgan's Sons on
London JOINT Stock Bank lD5S. and on
Dennistoun 1861. The German bankers were not
drawing as general thing. At the final close prime
80 DAYS sterling quoted at 1861 to 1O59. but all
quotations may be considered more or less nominal
in the present unsettled condition of affairs. Sight
bills were firm at 100 to 10s. and cable transfers at
lOaQlO9,. Commercial bills were quoted at lO3 to
lO5 for the various grades
The money market much in the same con-
dition "a last reported Business was done all the
WAY from per cent to lie, depending upon the col
,teras and the standing of the borrower closing at
the former quotation. The banks now hold about
goa 600 900 legal tenders aud Sl5000000 specie. Dis
counts were dull and devoid of any new feature.
Government bonds weak IN the early deal
incs but afterwards advanced. The closing quota
tons are annexed:
Offered ASKED oo go offered As n,d