The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-07-30
FINANCIAL And COMMERCIAL.

On ,Change today wheat was dull and firm. The
cotton market was heavy ana fraction lower
THE COTTON MOVEMENT.
The receipts of cotton at a the ports Tor the week
were 1o90o bales, against 10 66l bales the previous
week. The total receipts since september /, 1871
are 3e67247 bales, against 2,S49O9o bales lor inc
corresponding period OF the previous year, showing
an increase of |, lis. ISL bales in the present crop
The exports from all the ports for the week were
1914 bales against 9,6l3 bales for the same week
last year. The total exports for the expired portion
OF the cotton year are 3,0S3,762 bales, against
2 1882 bales for the same time last year. The
stocks at all the ports are l5G,Oo2 bales against
1915 bales Tor the same time In 1870.
MONEY EASY.
The money market was easy at a 8 per cent
Prime commercial paper, running sixty days to
six months, is quoted "a a IA per cent discount.
Foreign exchange was dull after the steamers,
but rather frmer on the basis OF lO9zs 40 for
prime bankers sixty day sterling and llO,l 1107s
for sight bills.
THE IANK STATEMENT
The weekly statement of the associated banks is
without Important feature. There is large gain
IN legal tenders and almost as large decrease in
specie. The actual gain in reserve Is, however.
Offset by increase in liabilities, so that the final
contribution to the surplus above the legal reserve
is reduced to the nominal sum OF s67,5i2 making
per cent required by law, $40 1897. The state.
ment contrasts with its predecessor as follows:-
loans 49,. s3oooes, 124 $500, o52, 2s5 Dec sis,4 sg
Sireaaon. sos1iiss sossoiss Dec 'i o5l
Deposits. 255735,o63 257olso04 Inc. 1882 94l
Legal tenders 72,4l9670 73,963,430 Inc 1,543,76
1t will be observed that the item OF reserve now
amounts 10 the very large sum of soo,e47, l6e-on
which the banks owe s2s7S7S, l29. and are secured
by the contained in loans and discounts
to the extent OF $500, 052, 2S5.
THE TAX ON BANKERS CApIrAL-IMpoRTANr DE.
CISION.
washington advices state that Commissioner
Pleasonton has decided that the term "captal" en-
poyed IN section ITO OF the act OF June 80. 1884
no longer be construed to impose tax on borrowed
capital employed 10y bankers. This reverses q
policy In the collection of taxes from bankers insti-
tured by Collector L. ID. Webster few years SINCE
which, alter much dispute was ratified on an APP
peal TO the predecessor of Commissioner Pleasonon,
but which Is now finally abolished.
TIE NEW LOAN
The additional subscriptions to the new loan re-
ported to day were $4,000. Secretary Boutwell, is
said to have received advices from London up to the
18TH inst, but no better prospect OF negotiation OF
the new bonds was held forth. The first install
ment of quarterly interest. due August l, will be
paid by checks, which will be mailed to holders Of
bonds.
GOVERNMENTS STEADY.
The government list was steady ana without inn
portant change. The following were the closing
street quotations this evening-United States cur
rency SKIES, 1881 ia; do 1881, registered, 116
1164; do. do, coupon, 116 116h; do. fve-twenties
registered, May and November, 1881 ia; do. do.
1862, coupon. do, 1l4 l14H; do do, 1864, do. do,
1885 1877; do do 1866, do. do, 1875 HAS, do.
do. registered, January anu July. 112H 113; do.
do, 1865 coupon do. 1l2A 1928; do do. 1867,
do. do, 1l23s 113; do. do, 1885, do. do, 1l3 a
lls1s; do ten-iorties registered, 112I 11224; do.
do, coupon, 1874 1l3h
SOUTHERN SECURITIES DULL.
The Southern list was dull and irregular The
Tennessees and North Carolinas were strong and the
South Carolinas and Missours heavy The following
were the closing prices:-Tennessee, ex coupon,
| Tx a 2a4; do. new 72h 20; Virginia, ex cou-
| pom, GA q 65; do. new, 721s 70; do. registered
| STOCK old, "a a IS; Georgia skies, SO SIS; do.
| seyens 92 o.; North Carolina, eX cou-
| pom, AK 43; do. funding, 1866, 30H a
| "a; do do. 1865, 80 a 30; do. new, 26s4 a
| ~; do special tax 10 19J.; Missouri skies, 90
n 9sts; do. Hannibal and ST. Joseph. 95 q 90;
Louisiana skies, 6S 50; do. new. 63 a IS; do evee
skies, 20 "; dc. do. Fights. "a SO; do. penn
Tertiary sevens 70 a 70; do railroad Fights,
rs a 80; Alabama nves, 81 a 20; do. Fights, 100
1907; do railroad eights. 90 a 90; South Carolina
siXes IA u IS; do. new, January and July, 54h a
IS; do. do, April and October. Sc q 621a Arkansas
Skies, "a SO; do. sevens, 40 q 65.
GOLD UNsErTLED-1l2 A 1124.
The gold market, while IN the main dull, was un.
settled, with small fluctuations The advance In
five-twentes in London made the opening price 49,
from which an advance to 1924 was made on the
report from the Custom House, subsequently verl
fed, of heavy line of imports for the week Just
ended A subsequent temporary reaction to liz
was followed by recovery to 1925 on the decrease
OF specie the banks. The OF the market Is
shown in the tablet
10 A. M.............ll2 1875 2. M..........112
IL A. M ...........1l2 1877 p. .112H
IL ..ll2h 2P. M.......... .ll2h
IL 81 r. M..........12A 3P. M .1l2h
l r. M..............ll2I 5P. M......l121s 112A
In the gold loan market the rates ranged from
per cent for carrying TO 2per cent for borrowing
The operations OF the Gold Exchange Bank were as
follows:-