The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-05-13

The foreign exchange market was very firm in conse.
quence Of the light supply OF bills the limited receipts
and shipments of cotton and the recent heavy failure
following another Of nearly equal magnitude in the
trade The disbursement Of the interest on the fve
twenty loan caused remittances he made
Of coupons sent here for collection by European bond
holders, and the rate for prime bankers sterling at
sixty days. advanced to 1907. Hence the shipment
Of about two millions of specie from this port
and Boston during the week. The market
closed nominay steady at IooK x for bankers bills
sixty days England, and 1l0s y for short sight.
Cotton bills out Of favor and had to submit to low
rates. owing the disrust OF credits connected with the
staple the almost steady decline in its price for long
time past having involved large NUMBER of firms here
and abroad in heavy losses The receipts last week at
all the ports slightly larger than in the previous
week. namely:-lo,66l bales, making total since
September last Of 679 993 bales against l,sl610l
bales in the same period Of the previous year. The
total stock at all the ports according to the latest ad
vices il 4o6 900 bales. The st&k at Liverpool the
9Th Of April s26 ITO bales, and at London as $50
bass whls 100 600 bales of American and 4Sl $50 Of
Indian estimated TO be aaoat
There a moderate degree of activity In the trade
Of the ctS during the wees, but the markets are still
unsettled. In cotton the fluctuations have been light
but frequent and very limited business transacted
In dry goods there has been a rather sluggish move
meut and the opinion expressed that the bulk OF the
sprug trade is already The decline in cotton is
accepted a good reason why newly manufactured
goods should be marked down in price, and the ten
dency has been downward for all but fine bieached
fabrics and certain styles Of printa Tho large auc-
ton sales OF domestics he'd near the close OF
che previous week has established lower prices
for all the inferior grades. The general prospects
OF trade throughout the country Ore, however,
improving and the crops promise TO be unusually abun-
danI Early Ia July Southern wheat win begin 10 reach
the markets. and the will be bare enough take all
thai oders AT present about the only article that
the West has good supply Of and even this commands
81 Is 81 IS bushel In this city, The wool crop Is
pccted TO be very heavy although It is not probable that
the market Tor will opcn carly or buoyanty, owing TO
the dulross and depression In manufactures and tho dry
goods trade. The abundant crops, by enrching the
farmers and increasing the aggregate wealth OF tho
country, vii react favorably upon all departments OF
trade sad the same time s,muateour foreign com.
niece
Tho earnings or the Union Pacific Railway in the first
week Of Hay wcre $4,000
The transfer books Fort Wayne Railway Company
will DO closed saturday, the 18th nst preliminary
the meeting OF the stockholders the 25h inst de-
srmns upon the proposed Of the capital stock
to the amount Of Here We have another In
stance OF the prevailing propensity Of railway managers
70 wstsr the stocks Of roads they control The sys-
Is founded wrong principle, and ono directly
calculated 70 impair the dvidendpaying power OF rail-
ways In proportion the extent to which Is carried
suboined the highest prices obtained for the lead
Ing stocks sold 1t the FIRST regular session OF the Ex.
change on each saturday Of the past -four weeks