The Portland daily press., 1873-10-10
New York stock and Money ,r..,,.,

New York Stock and Money Market.
MEW YORK; oct. -Mornino.-Money 7per cent
god bid. Gold at 1891. Sterling Exchange at 1O7 a.
NEW YORK. Oct. 9-Eveniuo- The dav onsned in
Wall street with feeling of depression under which
there was decline in gold, foreign exchange. gov
shares. Soon after the Inauguration of business
there were rumors of mercantile failures. Mon be-
came close and tue banks pressed brokers take up
loans which had been standing since the panic which
started selling movement on the exchange Chiefly
for cash, and the general share list dropped from as
103 per cent. The greatest decline was in Western
Union, which was pressed on the market for cash nv
the difficulty in making new loans This decline
dragged down the entire list. Late in the day the
idend was declared, and Washington advices stated
that tue government would encroach on the S44 OO0
QUO reserve TINS -nonth to the extent of $4,000 OOO
matters improved, the Stock Exchange Speculation
rising from q At per cent, while the foreign ex-
changes were steadier and gold advanced per cent
from the lowest point In bank circles an increased
supply Of legal tenders reported again. but not
withstanding this the premiums remains at al per
cent? and there is still considerable business doing
over the counters on Wall street. Some of the banks
are pursuing more liberal policy in regard to paving
out currency and are cashing larger checks than Of
late.
1t is reported that the National Trust Company
will resume on Monday next and the Union Trust Co
between October 18th and November 1st The .iirec-
tors of both companies in session TODAY In
regard to the Union the Lake Shore loan has been
satisfactorily arranged or soon will be- Money was
dificult to obtain on call and the rate advanced to
per cent. per diem. The general dealings were at
lis; some loans quoted at II per cent and legal
tenders, 80 days discounts quoted at IL to "a per
cent. per annum. Gold loans are a per cent for
carryi for the balance of the year FOREIGN ex-
change was lower, the demand being limited and the
supply of tills large. The closing quotations were
l069 q 1863 for prime bankers sixty days sterling and
1914 1919 for sight Commeic ial bills sold at los a
106.
Gold declined from 1909 a 09; from this point the
price advanced to 1898, closing at 1O9l The rates
paid for carrying were 5, T. 7, l-3Z and per cent
gold. The final rate was per cent. The Asst
Treasurer to-day paid out SAT 900 for account and
ceipts to-day $336000. State stocks steady and
quiet. Governments had heavy decline to-day
closing at the lowest point-18S1 registered fell off
from 115s to us, 1881 coupon from ISL to 1143 old
from Ill to 1904 from 113k to 49, 73s from 1l4&
to 1928, and new Us from 1913 to 1074 The decline
was greatly In sympathy with the lower range of
gold and the depression in other departments Of f.
miscellaneous speculation was exceedingly erralio.-
There were spasms of strength and weakness but The
latter predOmnated,
At o'cl ok the market showed o decline of l to
10a per cent. from the opening prices. After tn
time recovery of to Al per cent. was noted. This
Improvement was subsequently lost in most cases.
but at the case there was a recovery. The f1uctua-
S. 62s co. and 61k Lake Shore, 73s, 7Os, ill., IA T6i
New York Central, CIT go 90t 81, 80, 90, Sla, 9Os
Pacific Mail, 33t, 81, 32f; Union Pacific 49, 19a ~
1871; Erie, 494, 47s, 47a.
The days business at the Gold Exchange Bank
toows:-Gold cleared, $22, ESQ 600; gold bal-
ances 81 ,425,132; currency balances, 81, 400 OOO
The following is the Clearing House statement
ces $685. 125 80; gold exchanges 07 rs gold
balances. S756.575.70. TO-