The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-07-21
FINANCIAL AND COMMERCIAL.
MONDAY. July 20-6P. II.

MONDAY, July 2o-sPM.
The gold market has developed declining ten
dency today and the fluctuations previous to the
adjournment OF the board were from l43a to las,
with tue closing transactions at l43H, following
which the latest quotation on the street was l42x
1879. The supply Of coin was superabundant and
loans were made at rates varying from two to four
and half per cent for carrying. The gross clear
ings amounted to $57a5s,0O0, the gold balances TO
Si,42i. l2s and the currency balances to $2io24ls.
Many OF the Spectators recently operating Tor
rise have sold out preparatory to buying back al lower
figures. and the natural result OF the withdrawai
of this part OF the artificial support TO whicn the rise
due the present reaction. The steady increase
In the amount Of specie in the banks since the De-
ginning OF the month, Notwithstanding the export OF
gold directly in consequence OF the disbursements
OF the Treasury in payment Ola terest ana princpai
OF the bonds OF 1867 and 1858 1t is estimated that
these payments In June and ia y Will aggregate here
and elsewhere throughout the country more than
thirtyseven Millions while the customs receipts will
be ten millions short of this sum, which would
leave in the ownership Of the government at the
end of July nearly sixty millions OF dollars
The imports OF specie at this port last week aggre
gated Sl2 1885, making total OF s. 20 40l since the
LIST OF January The exports OF specie. on the other
hand, since the beginning OF the year have been
$751; 393. 900, seven millions and half above the
aggregate for the corresponding period in 1885, and
thirty-three millions and a half above the average
for the first half Of each OF the last sixteen years.
The customs receipts last week were 81, 200,
makinga total Of SOL 7O7, 3O2 since the LIST Of Janu
airy. The disbursements Of coin at the SubTreasury
In payment Of interest the public debt from the
LIST oJanuary to the 18th inst aggregated $780, 367
The money market continues extremely easy and
the general rate for loans call Is four per cent
although the principal dealers in government secu-
rites are enabled to supply themselves mainly at
three per cent Commercial paper is in very limited
supply, owing to the dulness and legitimate charac-
ter of trade and the best grade ia in request at
6per cent. The supply Of loanabe funds is largely
in excess OF the demand, and the amount OF national
bank notes in the banks and Sub-Treasury at this
centre Is heavier than usual. These will protect
the legal tender reserves OF the banks to
u corresponding extent after the drain OF currency
to the West sets In, later IN the year, as they are as
useful for remittance to the country as greenbacks,
except in special cases. The fact that all contrac-
ton OF the currency has been stopped that the gov
eminent has ceased to be borrower and that there
is no speculative activity in trade faors the assump
ton that there will be stringency in the money
market at this centre at any time during the year, or,
indeed, until the existing m0netar! conditions are
changed Hence apprehensions Ct scarcity OF
currency for Stock Exchange purposes in the autumn
are likely to prove unfounded A comparison OF the
last weekly statement of the associated banks OF this
city with that for the corresponding week in each OF
the three previous years shows the subjoined