The New York herald., 1875-11-29
FINANCIAL And COMMERCIAL.
The Events Of the Week---The Wheat
Movement and It's Relation
to the Market.
STOCKS AND THEIR CHANGES
Some Of the Effects Of Rag Money
The Condition Of Gold. Government,
State and Railway Bonds
WALL STREET,
SUNDAY, Nov. IS, 1875. ]

Mr. Berph being returned from Hackensack and hav
ang possibly critical Of cruelty 70 animals
hand the present writing, respectfully invite hts
attention TO enormity which daily marks the hours
of Wall street life Does Mr.. Bergh know that day by
day Sundays and holidays excepted while he is de-
voting redressing the wrongs OF the pebad
pigeon and the furtive fox, that combat not less
nercc because less bloody is going almost under his
very nose Did Mr. Bergh ever hear of bulls and
bears and did he know of q set~to
the Stock Exchange between these cornuted
and ursine bipeds If not invite his
attention to fresh fields and pastures new-heds with
out the ugly bitches, timber and bullanches which
must have been stumbling blocks for philanthro
piss ut the Hackensack hunt There is gore n It's
sanguinary sense in the combat We refer to; no
est,7pds called for in Spanish bull hght but
steady and Of mind and BODY, loss Of en-
ergy. ambition and hope and not seldom future OF
ruin and despair. Perhaps Mr. Bcrgh solaces himself
with the sentiment of tho remote but lamented Watts
that bears and bulls do growl and fight
For tits their nature to,
and that therefore 1t would be agin natur' TO inter-
fere. But If phanthropst manage his society
so extend its mission the suppression Of
city to the human race; prevent pigeons being plucked
In Wall street he essays prevent their being shot
in matches preserve brushes Stock Exchange foxes
and in general manner reorganze and regenerate
Hackensack wndms and restore him to his real posi-.
ton that of humane but little jealous President of
most admirable and commendable society.
II the experience OF the past years has afforded
any of Judging of the future nothing is easier Of
demonstration than that there be real and per-
manent prosperity in this country until gold is again
the only illegal tender' and paper currency, whether
1t be government bank notes. is convertible de-
mand Each day rs it passes leaves behind some
evidence Of the pure "cussedness" Of present ir
redeemable and ''non-exportable money" Let the de-
tenders of "the best money the world saw
the under stated facts and explain them If they
can upon any other hypothesis than that the result
shown is the natural effect of speculation which
would have been impossible had the money of the
ton possessed intrinsic value and therefore export
able. According to the official returns there was i'm
ported Of wheat into tho United Kingdom in October
5l44 0S0 cwt against g. 75S 934 cwt last year. Tho
United States have contributed less-vz, TIA, ,543
cwt, against 2o5s, TIT cwt but from Russia there has
been an increase from Gil 212 cwt in October, last
year, to 1,006 53T cw this year; from Germany in
from 27S 273 cwt 63l o63 cwt from France
from So l6o cwt to 169, SS7 cwt; from Chill, from
1901 cwt to Ill, s33 cwt, and from British North
America from 466, IA cwt to 629, ,496 cwt ''other
countries" also show moderate increase
THE WHEAT QUESTION SEPTEMBER NOVEMBER.
The month Of September not materially different
in its results than that Of October The total amount
imported from September / to November 9, 1876 is
l3, 10000 cwt against o 244, 600 cwt for the
period in 1874 The estimated quantity a1oat and
bound to Great Britain November 6, exceeded
720o, 900 cwt, making with that which has already
arrived total of nearly 2l 600 900 cwt thirty
per cent of the total quantity estimated being
qured to supply the deficiency Of the Kingdom for the
year ending August 81 1876. We frequently
thus literally supplied from other countries while our
own exports less than last year. The result
OF this folly shown the state of the market on
this side as represented such daily reports as fol-
iows-"wheat was dull and rather easier to purchase
The export demand quite moderate and mainly for
medium and common grades Milers bought a few
small parcels and disposed to hold of for further
reduction. The receipts large, yet, neverthe-
less there great pressure to realize In fact
confident the Western of wheat
In higher prices at very distant day. that large
portion Of the receipts ordered arrival
1t is also shown in the unprecedented quantity on
hand at the principal points OF accumulation amount
ing 1900 900 bushels OF which it estimated
nearly 900 900 in New York. 1000 900 on the New
York canals and railroads, 2.50O,OOo Buffalo and
about OOO 900 the lakes, making aggregate Of
II. 900 900 bushels in and route to this port
nearly all Of which is said TO be under the
control Of three prominent grain merchants, in
tend to hold 1t for higher prices In view OF these i'm
portan facts the readers OF the HERALD form their
estimate of the probabilities OF active export
demand during this winter well OF the prospective
movements from the interior after the actual close OF
inland navigation. What is true Of the condition Of the
wheat market the demand for its export also
OF other productions, only less degree They
all subject TO the influence Of speculation and cheap
thto nd,t,aa - a., Ia.d
ing articles OF export is conducive to healthy and
prosperous trade, then commend 10 the country a
"nonexporable money" the greatest Of blessings"
THE STOCK MARKET.
The business OF the week has been suggestive of
extraordinary confidence the future Of the market
and even the present is subject to such curious nu
ence that conservative operators avoid the privilege Of
guessing the whereabouts sthe little ioker as il
passes from cup to cup. Add to this unsatisfactory
condition the nterposition OF holiday and half and
will be seen that there is little to be said concerning
the outlook that which attends a descripton OF
che small rise and fall of the several securities Dull
ness has been the ruling feature, and unless a change
enforced by the adoption of rule reducing tho rates
Of commissions not between brokers alone but ap
olyng TO everybody engaged in rubbing the Alladin's
amp OF the street. the prevailing dry rot will continue
the few who derive benefit may be on the
Singers Of one hand II may be safely said that never
the history Of Wall street has the locality been so
completely demoralized by the existanco Of
cratic power that makes or breaks things will is
at the present time The majority Of brokers get
ting poorer The minority a close corporation. AS
umpes OF
TUE RECENT EFFORTS TO MANIPULATE
the market the following spccimens:-It not
long reported that the treasury Of the Lake Shore
Railway Company loaded down with surplus cash,
whereupon up jumped the price Of the stock ten
per cent irrespective OF the fact that the company's
payments Of for the months Of No
vember, December and January aggregated over
$1,oO0,Ooo on the authority or financial journal ii
now appears that the company has recently increased
the issue OF second consolidated mortgage bonds
100000 Again, within the past week Il was reported
that the Chicago, Milwaukee and ST. Paul Railroad
Company had In It's treasury over $500 0O0 which,