The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-09-30
FlNlNCIlL And COMMERCIAL.
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e, FRIDAY Sept ea-a y NJ
on Change to-day wheat was active and higher.
but unsettled at the advance. The cotton market
was quiet and barely steady, Q weak feeling being
manifested toward the close Of business.
TnE IMPORTS OF DRY GOODS.
The imports Of foreisn dry goods at this port for
the week ending September %, 1871, were $50
The amount thrown on the market was So, 795,2os.
MONEY EASY.
The money market was quoted 5a6 per cent on
governments and a Z per cent on stocks until near
the Close when number OF lenders, whohad an
ticpated hardening In rates as o sequence OF the
payments today for the government gold bought
yesterday, suddenly pressed their offerings on the
street and lowered tho rate to per cent Much
interest Is felt to the character Of the bank state
ment tomorrow, and the opinion is generally ex.
pressed that the showing Will be a good one, or at
least better one than that OF last week. The banks
lave steadily curtalled their loans to Wall street
dealers and enlarged their advances to merchants,
who have been quite urgent all the week IN their So
nctaton for accommoda alton. How far the item Of
loans viii be modified depends, therefore. on the
proportion between the contraction In the former
and the distribution In the latter. In explana
ton OF the comparatively light demand from the
West for money up to this time, the shipments hardly
exceeding few millions week, It Is stated that
the Western merchants have been heavy buyers Of
Eastern goods during the summer and fall, thereby
receiving pay in advance for their crops. There
were also heavy sales Of western railway stocks
during the spring and summer sent mere for realiza
ton, and the money thus obtained Ii now clrcuat-
Ing 10 the West, lesseuing the demand upon
New York. indeed, 1t was the early abundance OF
money In the West this season that stimulated the
merchants into buying SO largely. The organlza.
ton Of new national banks has also contributed to
tho greater steadiness Of the domestic exchanges,
these institutions being quite possibly founded by
capital derived from the sale OF stocks, bonds and
other securities previously held for investment In
tile western country.
Prime commercial paper Is quoted seven per cent
discount
FOREIGN EXCHANGE LOWER.
The foreign exchanges were weak. and the lead.
Ing bankers again reduced their rates. bringing
their quotations down nearer to the level Of
business on the street.. The following shows
the new qu0tations:-S sixty days, com.
merciaI, lo7& los; good to prime bankers, 1854
10Sk; short sight, 100 a 1921; Paris, sixty
days. 5.32h 62ez short sight, 5.25 5.2sN;
Antwerp, $50 626; Switzerland, 62sH 5.23x;
Hamburg, S6>s 35s4; Amsterdam, 4os a4O5s; Frank
fort, IL Az; Bremen, TX 7sA; Prusslan
thalers, u q TAN.
GOLD sTEADY-114sS A 114I.
The gold market was steady ana fairly active. In
the early part OF the day large sales were made by
prominent house lately identified with the specua-
ton on the bull side. inspired probably by the ex-
aggerated statements OF specie shipments from
Europe to this country. and the price fell OF to
ll4s.. subsequently the foreign bankers began buy
ing and the price advanced TO 1l4Ji. The money
markets OF Europe are reported to be growing
active the street rate in London being five per cent
as against the bank rate OF four per cent The chief
fluctuations In the price of gold during the day are
CHI m no to