New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-11-02
GALES FROM 2 q CLOCK p. ~ To CLOSE OF BCBi-
NESS 3 O'CLOCK ?. IS.
SATURDAY. Oct. 31-P. VI.

In regard to the general trade Of the city we
regret that the truth compels 20 repeat the
old story of continued dulness, accompanied by G-
clning prices How long this condition of things is
TO continue we do not undertake to surnise. The
hopeful seem to think that the scale must
turn soon, it is undOubt- dly true
that many articles of merchandise are now
selling. when purchasers can be found, at less than
the cost Of production. If other evidence were
needed rs to inactivity in business it might be
found in the fact that superabundance of cash
capital, which in prosperous times would find en-
ployment at full rates of interest, seeks it at
to per cent call, to per cent secured time
loans. and to per cent for good
commercial paper, and this at a season of
the year When under ordinary circumstances, the
demand for money is most active. Government
securities during the week have been in fair demand
at firm prices while Southern State bonds have been
inactive fair business has been done in the bet
ter class of railway mortgages at prices slightly
lower in some cases. Foreign exchange was dull
and lower up to Friday, when the demand for ster-
ling caused an advance in rates Gold has
been very quiet. ranging only from 10 to 1l0l
with most of the business at 100, at which
the market closed The only noticeable feature in
the gold market has been the demand for cash gold
borrowers having been in some cases required to
pay l-l6 per diem for its The railway and mis-
ceaneous share speculation has been extremely dull
during the week, and up to and including Friday
prices tended downward. But a rally to-day
caused by the covering of the frightened shorts
placed many stocks higher than the closing figures
of last Saturday Erie was perhaps the weakest
stock upon the list, and under the influence Of
Capt. Tyers report, declined from 800 to
272 but subsequently recovered to est Lake
Shore continues active and firm without showing
any considerable advance in price; after these the
most prominent stocks have been Western Union
Telegraph, Wabash. Rock Island, Union Pacific, and
Pacific Mail. n. Y. Central has been strong on a
small business. Atlantic aud Pacific Telegraph has
taken sharp upward turn, going from -! to 49,
probably upou revival of the story that it is TO
form part OF combination which expects TO be-
come a serious rival to the Western Union.
Adams Express also shows Q handsome adj
vance for the week. The announcement that the
interest due on Monday on the bonds Of the Wabash
Railroad Company had been PROVIDED for was
thought by the employees Of the road 10 be asucient
excuse for asking payment for their labor and SER
vices during the past few months. SO hundreds
of these waited upon the President OF TIE road
yesterday and suggested that they needed their pay
aud that they could valid reason why
the bondholder should take precedence of
the laborer President Cox is reported to have told
these abOrers that their claims would soon be lqui
dated. Comparing tO-days closing prices of stocks
Nth those Of last SATURDAY. We find that Adams