The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-04-08


Tho Composition for the loan Of took place on
Monday according to previous notice Messrs Barings
and Messrs. Rohschilds coalesced their offers were
similar, viz. 99s and they declared the contrac
tors at that price 1t has been already stated that the
is in Three per Cent Conso and that the bidding
to at what price per cent the contractors were
willing purchase that description Of stock Of the Gov
eminent 1t has been usual for the competitors to ten
with fl00 money; and the tender naming the lowest
Of st !, sS ss
Three per Cent Consols the annual charge for the
dividend is faes,lss s.. lod.; and the amount Is
have already mentioned expectation that the loan
would have been in half per cent stock and
been during which 1t should have been ire
ducble, the Minister might have sold three-anda-ha
cepsos Il SOL her cent stock rredu.
chile for thirty mine years is worth 100 per cent;
The value being compounded of that of fiOo g. d;
And the value of an annuity Of los. per an
mum, for thirty nine years. which, reckon
ing interest at ga per cent IL worth 10 ii
ElOO 3
As however, Half per cent stock is not
current an article in the money market Three per
Cent Consos the Minister must have given some bonus
to induce the public to take the loan in the former de-
making loan in Three Half per cent stock ut par
taking the bddings in the number of years for which
the stock should be guaranteed against reduction and
extended that guaranty to y years the value Of the
stock would have been raised to l0l there could con-
sequently, have been no difficulty in dsposlng OF
Es,O0OO0O of this description at par. Thus an addition
of nearly flO00000 to the capital of the debt would
have been avoided and by providing that the interest
of the stock should at maturity be absolutely re.
duced to three per cent future saving Of would
then be effected in the annual charge
was at premiu@ but II has since been gradually de-
Ginning and has been to-day low as q premium Con-
soils have also declined nearly per cent the price for
quotation has fallen to 90; the market closing heavily
and without any SYMPTOM Of reaction This Is the last
day fixed for the exchange of Exchequer Bills which ar
rive at maturity in March The recent increase of in
I'd per diem has not given them any increased
irmness In the early part Of the week large sale &C.
sequcntly fuctuated between s. and &C. The decided
change in the appearance of the market is chiefly attr
butabc to the demand for money for the completion OF
railways; many of the principal Railway Companies
being now in the market as borrowers at per cent and
long such interest be obtained capital will
be attracted to the best market
Scarcely any business has occurred IN the Foreign
Funds. The Northern European and better class OF
stocks higher while the Portuguese and Spanish have
declined.
Most Of the Railway Shares have been supported at
to improvement being checked by the heaviness of the
English Funds Scarcely transactions have occur
rally well supported the quotations of last week. but
with the decline of the English they have given way
and the closing quotations from 6s to los per share
lower
SATURDAY, March s. twelve oclock-Advces from st.
Petersburgh received this morning bring intelligence OF
decline In the exchange of nearly per cent, viz from
AID per ruble to SD As this decline if continues, will
put end to all shipment of bullion to Russia, the
knowledge of its occurrence produced momentary ef-
prices COnsos account were done at S9%
and afterwards at 60 The price has, however, again
given way and is now quoted at s92 f.. The scrip Of
the new loan is Is premium. The premium Of Exche-
quer bills is unchanged Is to Is In the foreign market
the only variation is in Spanish stock both varieties OF
which are lower The business in railway shares has
been of very general character and upon the whole
prices not quite so well supported as yesterday
Two o'CLocx.-The stock market continues IN a very
unsettled and consos have been low as the con-
tract price for the new loan namely s9 bringing down
the scrip Is I'd to IDS Cd premium or just an allow
ance the difference Of interest Even for the April
of soN to ssA The accounts from Ireland France, &c
relative the grain markets. the pinch for money this
week. the report of foreign loans being on the
aps together with the unpleasane reports which have
found currency have had a decided influence on the
market Exchequer bills keep pretty steady at 81 to Is
premium.
The foreign Investments have been heavy. Spanish
Five per Cents 22 to 22%, and the New Three pc,
Cents 331s 33I The other securities almost no
minal. Brazilian So to g.
Shares have been decidedly lower and there sales
pressing The foreign lines relatively rmer thar
the English.
LONDON CORN MARKET, Friday, March 5.-Sinc'
Monday the arrivals of English wheat have been
very limited scale and the show Of samples to-day wa
trihing. STILL however, tho home millers purchased
with extreme caution; but about 200 quarters
Red were taken for France, those qualities improved
fully Is per quarter In white wheat very little wal
doing, Mt last rates In Foreign wheat good business
transacted for exportto France and the quotation
had an upward tendency Both Barley and Malt were
excessively dull and the turn lower. The large arri
walls of Oats from abroad produced much heaviness
the trade, and prices reccdcd quite s per quarter
Beans very dull, and Is per quarter lower thar
on Monday. All other articles q slow inquiry
Impr'l drcrdg's. Wit. Brly; Oats, Rye Beans; Peas