The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-07-06
FOREIGN EXCHANGE LOWER.

FOREiGN EXCHANGE LOWER.
The foreign exchange market was nOminay
lower but firm. The bankers, in drawing at present
rates. allow SO small commission to the brokers
that there is in reality little difference between the
rates OF to-day and those of last week. The easier
tone OF the market is due to its duness very little
having been done after the holiday of the Fourth,
while there Is disposition the part OF buyers to
wait for lower gold. Rates closed as follows:-Ster-
ling, sixty days, commercial, 109H 1922; good to
prime bankers, 1929 a 1O97s; short sight, llOh
l109s; Paris. sixty days. $50 6.15; short sight,
5.14as 5.13h; Antwerp, $50 5.15; Switzerland,
$40 o sis; Hamburg, 354 361s; Amsterdam 4OA
a Az; Frankfort, 4o4s Al; Bremen. 7s& 1914;
Prussian thalers, II 719s.
MONEY EASY.
The supply Of money available for demand loans
is still In excess OF the requirements or the street.
aud the rate In such transactions is three four per
cent, according to the coaterals submitted by the
lenders. The stock houses are able to borrow all
they wish at four per cent The government dealers
have large balances left with them at three. In dis
counts there is less movement except for short
dates Prime names, endorsed, and double names
are quoted from five and half to seven per cent.
STOCKS STRONG AND DULL.
The stock market was strong and for some Of the
list active, Lake Shore and the Vanderbilt securities
being the more prominent features. The Northwest
wards lost the Improvement, on the announcement
Of the large decrease in earnings for the month OF
June. The "buI" cliqucs are seeking TO enlist a
'shOrt" interest," the formation Of which would give
them more courage In the contemplated bidding up
OF prices when they have procured what stock
they wish. In fact the existence OF good
line Of "shOrts' seems the essential prelimi-
nary to their movement, and hence they are
in hopes that the closing agitation in Congress OF the
currency and funding questions will make fish for
their nets Much OF the weakness in gold was due
to this same strategy of the cliques who would exc
cute stroke of double good luck could they buy
'short" stock at low prices. While Wall street
seemingly dull to-day and languid
after the holiday of yesterday, and while the
Stock Exchange was only SHINY attended, the brok-
OF the cliques were quietly absorbing stock for
their customers who are confident Of a sharp and
sudden advance In prices the moment Congress ad-
journsan advance that will be all the irresist.
bic for the that the speculative spirit has been
gaining strength and force under the long repression
of threatened Congressional legislation on the
financial question. The following were the closing
prices at the last session OF the Stock Exchange
Canton, 6Sk a 20; Cumberland, Al; Consolidated
Coal, 291s 80; Western Onion Telegraph, 34,s
341a; Quicksilver, s; Marlposa 6I ~; do.
preferred, 151l a 16; Atlantic MAIL % 80; Pacific
Mail AK 42ss; Boston Water Power, 10; Adams
Express, 6s3S 80; Wells-FargO Express, 15X q
1917; do. scrip, 27s q 3k; American Express, AZ
As; United States Express, 40 4s%; New YORK
Central, consolidated, 100 1905; do. scrip, o5sl
957s; Harlem, 142; Erie, 227l 23a4; Reading,
1914 1919; Lake Shore, 1917 1918;
Illinois Central, 140 a HE; Cleveland and Pitts
burg, 1o9,a 10; Chicago and Northwestern s3,s
bid: do. preferred, s91a S9%; Cleveland, Column
bus and Cincinnati, 81 81; Rock island, lis l1SK
Milwaukee and st. Paul, 81 67,4; do. preferred
s1Aa 81; Toledo and WABASH 5s1s 5SA; Fort
Wayne 951s 96: Ohio and Mississippi, 3e1I a 3Gtl
Delaware and Lackawanna. los bid; New Jersey
Central, 1885, Chicago and Alton III 11s; Morris
and Essex 500 90; Hannibal and st. Joseph, 117,i
1is1l; do. preferred, 12o1 121,l Iron Mountain,
4sX so; Boston, Hartford and Erie, ~ a AZ;
Columbus, Chicago and Indiana Central, 2lX 22h.
HIGHEST AND LOWEST PRICES.
The following shows the highest and lowest prices
IN. do for tho Jea ding sneculatiya sha