The New York herald., 1874-10-04
FINANCIAL And COMMERCIAL
The Situation in Wall Street and
It's Surroundings.
No Changes in The Monetary Situation Gold
Firm at LILO q ITO s-S.
WALL Strict.
SATURDAY. oct. 3-6 L. NJ. !

no change in the almost acrimonious character OF
the struggle between the advance elements OF the
street. Lake Shore continues to be the central
point OF attraction, and With Western Union, up
holds the market. Such short interest as existed
IN the early part OF last month has been closed
out, and whatever new ventures are made in this
direction are so temporary and feeble
that they only result in augmentlng eX-
listing strength. There are not wanting
those, however. who, while 'long" Of stock,
take advantage OF each rise OF half per cent to
Increase their investments, still watch With wary
eyes for the first symptoms of decline, and will
be first to turn their backs upon the market, in
order TO escape what they claim may be long,
dull winter season. This might have been ex.
pected. They are Of a class who do not take much
stock in
THE GILT-EDGED REPORTS
OF great crops, large railroad earnings, improve
ment in manufactures and the prosperity OF mer-
chants, and to whom the results OF the panic are
still bugbear II not reality. Their own capital
is idle and SO they rush into Wall street specua
tons, helping mean awhile to swell the bubbles, and
asking themselves the question how much OF the
wealth OF other thousands is likewise unemployed.
In the answer they ind neither confidence nor en-
couragement They see market that has been
moved upwards arti1cially, and is only sympa-
theticay strong; one which rests on even
weaker basis than that OF last spring, when '.n.
everybody was predicting a period Of IN
exampled prosperity. AS above Indicated,
however. not a little outside money is sw0oping
around the l1aeistrom OF the great gamble, and in
the lucky turns OF the last fortnight hundreds
have blessed good fortune for existing opportuni-
ties. The choice OF investment, 1t may be said.
mas been confined principally to the dividend
paying stocks and others which are outside OF the
Granger influence, in this respect 1t is CRAFTY
a q
OF this column have been verified by present re-
suits. "it is long lane, however, which has no
turn.''
THE RANGE or PRICES
-ofleading stocks during the day was as follows.--
New YORK Central and Hudson opened at 1915,
sold up 10 1929, closing at tnat prce-a gain OF
per cent since last night. Erie moved from 35d,
and with a little variation sold at the close
at 35, loss OF iS as compared with
last night. Lake Shore opened at s2k,
touched SSH at noon, receded to s21a and ended
at S2st advance OF x per cent on the closing
price last night. Northwest sold at so7s 40 4oss
and closed at 39S4 bid, gain OF 2 per cent. OHIO
and Mississippi was steady at about 277s 2721
25A. a gain OF y per cent. Pacific Mail opened at
a fraction below the closing price Of last night,
497s, osclated between 493a and sos and closed
at 4s24- loss OF y per cent Rock Island was drn
and varied slightly from l0i c.osiDg at 1887, the
figures OF last night. ST. Pau! opened at 341d.
gained 4 per cent on the days prices, but closed
at "a. Did, which Is gain Of q per cent COM
pared with the closing prices last night. Wabash
opened at 344 and rose seadily to 349G, but later
receded TO 344 bid-a loss OF . per cent since last
night. Union Pacific opened at 3oa., to 81
at the nrst board aud ended az 1913 oid-a gain OF
4 per cent. Western Union showed gain Of
:. per cent. The changes in other stocks Will be
found below.
THE BANK STATEMENT.
The movement OF capital held by the banks be-
gins to show the influence OF autumn activity the
requirements OF the crops and the demands OF Che
merchants. s2,2so, 900 has been taken away from
the total reserve since last week IN legal tenders,
and the increase in loans amounts TO sl,737. 600.
The banks, however, still mold $s2 800, or
S23 1OS s25 in excess OF the legal reserve. The fol-
lowing analysis OF the regular statement will more
fully explain the situation compared with that
OF last week.
SGT 3 20 .oo sos Oct s. 200 nc Dsesces e en- ss
Legal icad's dS,6otoS s $3.50 100 pee 7siaoS
Deposits. 236, 100000 500 Inc. l65,loo
Circulation. 25,625.soo 25,als, GOO Dec. oO6,2oo
The following shows the relations between the
total reserve and the total liaollites:-
sn,c,e SIS e9i Ss oG 800 pse D'eecesi
Iesai tends Dee Dee 900
Tot. reserve ss4, sS2,3io 300 Dec s.; 900
quiredagt
deposits. 5oli5,2oo 5a,e3l475 ~
Exc's OF re-
serve abiv
legal
quirencnt 25,5o5,lo 49, s25 Inc. 2,3o6.oT5
MONEY
was easy at the rates heretofore quoted. although
At one period during the day tue price stitched to
per cent. The closing figures were and ~.
Foreign exchange was quiet aud arm at 4.s411'a
As5 for bankers 80 day sserling, and 4.s7E ASS
for demand. ReichmarSs. 95 and %; cables, 9dl4 a
-06H; prime Paris, 5.l5sS and 5l3,s.
THE GOLD MARKET.
Gold showed the two extremes OF 10 and llos.,
the opening being made at llo,4, the close being
at the former price. The market was not un.
usually excited and requires no additional COM
ment The rates paid for carrying were !, y, ..
g. and ~ per cent to nat. The shipments Of
specie to-day were $e2, Az in silver bars.
THE UNITED STATES TREASURY.
The Customs receipts to-day were $.07, 900. IN
ternal Revenue receipts, $333,017. The Assistant
Treasurer to-day paid out $1,000 on account Of
interest and $40, 900 in redemption OF hve-twenty
bonds. The operations OF the Treasury at the
New York once curing the week nclnded the dis.
bursement OF $l9S,oo0 on account OF interest,
$4,000 in redemption OF hve.twcnty bonds
and the receipt OF S2,3s6,l00 Tor Jus
toms. The Treasury holds to-day $3.50 100000
bonds to secure national bank circulation, and
$l6.5oO,oO0 to secure public deposits. The na-
tona bank circulation outstanding is s349 537, 600.
and the national bank notes received Tor redemp
ton to-day are $4,000. The national customs
ceipts Tor the week ending September 28 were
$4,000 600.
CLEARING HOUSE STATEMENT.
currency exchanges. fe2 62s,ss3
currency balances. 486b, fi0
Gold exchanges. es....................... i,95f.703
Gold balances. Gs2, ,269
WEEKLY CLEARING HOUSE STATEMENT.
Currency exchanges. solo o55, 766
Currency balances. ~ id9. .3Gi
Gold exchanges. Observation-Disclosures. 4GG4G,e81
Gold balances. S........................ ), J3I,343
THE FOREIGN MARKET.
The most important London news was that Erie
suffered fall OF X per cent from yesterdays