The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-26
The Why and the Wherefore
Theories and Speculations.
THE EFFECT ON THE STOCK LIST
Money Easier-Gold STEADY Governments Tn
changed-The State Bonds Neglected.

STREET,
MONDAY, March %, 1875 p
On 'Chanse to-day wheat was dull and firm. The
eotton market was quiet and steady.
MONEY EASY.
The money market was easy and the rate on call
declined to per cent Early IN the day sceptical
feeling as to the continuance Of the relaxation
noted last week started borrowers out early, and
some OF them paid per cent coin, Tor what they
wanted. But the supply became better as the day
advanced, and, alter q full supply at per cent,
lenders were onerlng money at the close at as low
q per cent The market was as easy to the dealers
In government bonds, but the dulness In this depart
ment OF business created little new inquiry for
money, and loans were allowed to stand over at
per cent
Paper was quoted a ~ per cent discount for tho
several grades Of prime bankers and commercial
notes and acceptances.
DECLINE IN FOREIGN EXCHANGE.
The foreign exchanges were weak under heavy
Uncring OF bills by the foreign bankers drawn
chiefly against purchases OF Erie for the London
market Sterling declined u per cent The fol-
lowing we're the quotations at the close:-
Sterling, sixty days. commercial. 1osN 100; do.
good to prime bankers 1OsH a 1927; 90. short
sight, 1o9I ITO; Paris sixty days. $50 $40; do
short sight, 6l6A 6.16; Prussian tha,ers, 72a TN;
Antwerp. 6.23a<a $40; Switzerland, 1884 $50;
Hamburg, a5X 8eI; Amsterdam, 40A q 4o&;
Frankfort 4OX q Ak; Bremen, 7s1 are.
GOLD 10994 109X.
The geld marKet opened 1927 bid, but the de.
mand at this price was Immediately supplied by the
Iereign bankers. who were selling gold against
shipments Of Erie, and the quotation settled to
109X 1904, At which and the intermediate six
seentn> tine rest Of the days business was con.
Quoted. The market was quiet and featureless. In
loans OF cash gold the rate varied from six per cent
for carrying to nat for borrowing. The Sub-Treas-
ury paid out $966.00O In redemption OF the called
bends Of '62 The operations OF the Gold Exchange
Bank were as fonows:-Gold cleared, $40, $40, 600;
gold balances, S2,l39,ooo; currency balances,
t235s,2l7.
GOVERNMENTS STEADY.
Government bOnds were quiet and rigtdly steady,
dosing as 1olows:-Unltels States currency sixes 1l6
116K; DO. sixes 1881, registered, i14H 114T;
do. do. coupon, ll6N 1l65S; do, nve-twenties.
registered, May ana November l11X a l12;
DO do, 1852, coupon. do, l1lA 112; do do,
1884 do. DO, l11X III; do. do, 1865. do do,
ll2x 1l21k; do. do, 1867, registered January and
July, INK q liz; do. do, 1886, coupon, do,
lloX Ill; do. do, 1857, do, do, 1917 1121a;
DO. do, 1885, do, do. l12A ll2k; do. fves Of
1881, funded, registered 1904 109h; dc. do. do,
coupon, 1904 iO9H; do. ien-iorties, registered,
1o7H 107z; do. do. coupon. l07T 10Sx.
SOUTHERN SECURITIES IRREGULAR.
me new south Oarolinas were exceptionally strong
and moderately active, with an advance to 1914 q
o. lhe following were the closing prices:-Ten-
nessee ex coupon, TX 67X; do new Elk a e72s /;
Virginia ex coupon. "a a SO; do registered stock,
old, As o 80; do. skies, consolidated bonds 6Ses
d 80; DO. sixes deferred scrip, 10 III; Georgia
skies, u o IS; do. sevens. IS o 90; North Caro-
lima, ex coupon, 81 S7K; do. funding, 1885,
81 o 80; do. do. 1858, % "a; no., new, % "a;
d., special tax, 10 a II; Missouri skies, e6H bid;
DO. Hannibal and ~. Joseph, 924 pld; Loulsl-
ana skies, 80 q 62; do. new, 81 60; do. levee
sLxes, 90 60; DO. do. elghts 70 o 80; DO. do.
eights, 1876 rs o 81; do. penitentlary~ sevens
"a q g.; do. railroad Fights. 10 o 30;
Alabama fves, 81 a 65; do. eighrs, 90 q "a; DO
Fights, Montgomery and Eufaula Railroad, SO 90;
South Carolina skies, 50 So; do. new, January
and July, S9N 89s4; do. do, April and October
81 q 37k; Arkansas sixes funded, t4X 81; do.
sevens, Little Rock and Fort Scott issue, 90 o 90.
COMPARISON OF THE IMPORTS.
The following shows the imports, exclusive OF
specie at the port Of New York for the week ending
March % and since the beginning Of the year.