The Portland daily press., 1873-10-31
Rev York stock and Money war,,c,

Ne" N OrA STOCK ana money MARKET,
New YORK. Oct. observation-disclosures at 7 per
cent. Gold at 1881 Sterling Exchangelat 1864 a
1oS.
NEW YORK. Oct. 29-Eeening-T The failure of the
Spragues the principal topic in financial circles
to-day. Another immediate effect was a heavy de-
cline in values on the Stock Exchange and depres-
sion outside The restoration Of confidence previous
y going on has received check by this event, which
can only be looked upon as public calamity in the
present condition of affairs The failure of the Bank
of England directors to advance the rate of discounts
to-day caused decline here in both gold and foreign
exchange. The cable advices to-day were not of the
same exciting character as yesterday, although the
European market stil seems to be heavy for Ameri
can securities.
In the money market at the opening there was no
change to note but the demand increased late in the
day and became urgent, so that pr cen.pr diem was
paid for call loans. The closing business was q
per cent. This reflects the disturbed feeling among
money lenders. The closing up of business was
marked by an unsettled feeling and considerable ir
regularity in the various markets Againamuch anx-
ety felt in regard to events of the future especially
to-day gained S732,000 legal tenders. In the dis
count market there is but little doing, owing to the
culation today shows decrease Of sis, 900. The
custom receipts to-day were S209,000.
The following is the Clearing House statement :
Currency exchanges SOL z547T currency balances
u, 62524 gold exchanges, $4l6l, gold bal
ances S836,3s2.
The foreign Exchange was reduced at the opening
to 1861 for long sterling and los for sight, but after
wards the latter was advanced to 1851, closing up
very weak for bankers GO DAYS sterling at 106 q 1O6f
is dull and heavy at 10fa a 105k
Gold opened lower at 1854 a 1881, and closed up
steady with the latest sales at 1881 "a 1888. The rates
paid for carrying to-day 1-5, 3-64 Liz T. per
cent. gold the final rate at 3-G4 per cent
The days business at the Gold Exchange Bank
as tolows Gold balances, 81, 541 0e7; currency
balances, $ss7. 455; gold clearances $50 1868 OOO-
The Asst Treasurer paid out to-day $500 &C
count of interest and $1,000 redemption of 5 20
bonds. The Treasury paid out $3.50 in silver coin
| to-day.
The loan certificate business will como to end
tomorrow night. After this week. with the end of
the pooling pian it is expected there will be more
liberal discount of first class paper by the banks In
/ the meantime the placing OF greenbacks by the
banks in the sub-treasury, which amounted to 800,
900 900 lust before the panic but which reduced
to So 900 900 during the panic is again resorted to
and the amount has increased to $4,000 900. and will
RAPIDLY as confidence increases, 60 Dack to the old
| amount Already the leading banks are paying out
large quantities of greenbacks for United State bonds
| and other first class securities.
transactions. The stock market opened steady, and
under the Influence of the depression in the money
MARKET and reports of failures, sell from to 81 per
cent, closing very irregular. The principal luctua-
tons were Western Union from SGT q 52s, declined
to 49, recovered to soy, and finally reacted 10 So;
Lake Shore sold at IS, 63l, 621, 61a New York Cen
trail at esq 49, si9 s35 Pacific Mail at 80, 29t 20, rs,
| 283,
| rhe following were the quotations OF Governmen