The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-17
FINANCIAL and COMMERCIAL.
The Money Market Easier and the Rate
on Call Three Per Cent
A FURTHER ADVANCE In GOLD.
The Pool Mark the Price Up
TIVE Points More.
FLUCTUATIONS IN FOREIGN EXCHANGE.
SpeculatiOns as to an Alteration Of the Bank
Of England Rate Tomorrow.
The Specie Exports and
engagements.
STOCKS HIGHER AND STRONG.
The Reformatory Measures Of the
New Erie Board.
The Specie Exports and
EnSagements.
STOCKS HIGHER AND STRONG.
The RefOrmatory Measures Of the
New Erie Board.
Revival of Old Gossip About New
York Central.


TUESDAY, July l0-o p. M
On Change to-day wheat was quiet and aour
active and hrm The cotton market was heavy.
MONEY THREE PER CENT.
Money was easier, and the closing dealings were at
three per cent, with more offered OF the same rate
Earlier In the day some borrowers paid four per
cent on stocks and number OF renewals were
made at that figure. The banks and private bank
ers are abundantly supplied with money from out
Of town depositors, and, as indicated in the bank
statement on Saturday. there is steady influx Of
money, chiefly national bank notes, from the out Of
town banks which threatens to create the
USUAL SUMMER GLUT
Of paper money at this centre. The effect Of this
Increased supply is witnessed in the lower ruling
of rates on call yesterday and to-day Prime paper
is quoted s q 7 per cent discount. Foreign ex-
change was not so firm. In the first place the adj
vance in gold checks the buying Of bills, and Sec
0ndly serves to make better supply Of CONNER
cial bills. The weakness, II the change amounted
to so much was more perceptible in slxty-day than
in sight sterling, and is attributable also to more
ACTIVE MONEY IN LONDON,
consequent upon the introduction OF the new
French loan, particulars Of which ought to reach
us by the cable this evening. The amount
marketed Is said to be 100000 francs at
50 per cent, equivalent to about f17.0Oo, 0oO
sum that ought not to occasion any prolonged &C.
tivity or disturbance of the money market In 30
wealthy place as London. Still, the Bank of Eng.
land lost heavily last week and continues to lose,
inspiring belief that
THE DISCOUNT RATE
may be raised next Thursday. SO fares our bonds
are concerned they were steady on the other side
all day, but dull, which latter they would be nat
uraly pending the diversion of attention to the
new French loan. Sixty-day bills were freely Of
fered at 109T and cannot be quoted at better than
10sX 10oX, while sight sterling was only steady
at the quotation 1907 110h. There is further
more good evidence that s0me small amounts Of
new railway loans have been recently negotiated
in Europe.
GOLD STRONG-1143S A 114I.
The gold market was strong, and advanced two
points more-viz.. from 1147S to 114, closing quiet
and steady at Hay, which was exactly the final
quotation that 1t was the asking price regular
way" and the bid price "buyer three" There was
not much doing at the advance, the pool seeming
to content themselves with their forenoon work of
putting the figure up quarter, and then quietly
supporting the market at l14,k, keeping their
SCOUTS WATCHING
the smaller operators and dealers, and noting care
fully the temper Of the outsiders and the
street and public generally. There is no
doubt that more strength would have been
developed to-day had the steamer taken out
specie and the engagements for tomorrow been
larger. In explanation 1t was said that to-days
steamer was not liked by shippers, and that the
Cunarders demand too much freightage charge for
specie consignments. AS 1t Is
THE ENGAGEMENTS
for tomorrow foot up $685. 00 OF which $550,0oo is
gold. The Sub-Treasury paid out 1925, 900 on &C
count ofinterest and $37 900 account OF redeemed
FIVE twenties of 1862. The course Of the market is
shown in the tablet