The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-05-31
THE MINIMUM NOW FOUR PER CENT.
Gold Dull, but Firm Despite the
Reduction.
A FEBRHE MOVEMENT IN STOCKS.
The Everlasting Treaty Middle as a Continued
Cause Of Disquiet.

THURSDAY, May 30-8 Pm.
On Change to-day flour was dull and lower.
Wheat was quiet. Cotton was firm, with good ex-
port demand.
In Wall street there were only couple OF hours
OF business, the Decoration Day holiday and the
storm keeping away the usual throng of specua-
tors
MONEY EASY.
There was naturally very little feature and moth
Ing OF novelty In the money market, which was
quoted q per cent among the government deal
ers and o 6per cent among the stock brokers. The
latter paid per centin rather more instances than
on Wednesday, as II borrowers were not disposed
to run around In the storm and had accepted lend
ers' terms in preference to seeking an abatement
OF the rate.
Washington kilograms state that the House OF
Representatives has passed the bill authorizing the
.Sub-Treasurer at New York to receive legal ten
ders and issue certificates Of deposit available only
In the transactions OF the Clearing House. The
measure has no general Importance, and has been
asked merely to expedite the operations Of the New
York Clearing House.
LOWERING OF THE BANK OF ENGLAND RATE.
About the first thing communicated by the cable
this morning was the announcement that the Bank
of England had lowered the discount rate to per
cent, as against per cent previous
". Something OF this was anticipated in
In the HERALD this morning, but the plump reduc-
ton OF one per cent instead Of the gradual fraction
OF one-half per cent was quite surprise. Foreign
exchange was unaffected, at least for to-day, how
ever 1t may be week or so hence, when there will
have been fuller opportunity for the change Of
rate to determine the relations OF the two markets.
GOLD LowER-1laM I13X.
The gold market was steady, all things consid
cred. and 1t was not until the close OF the brief
business Of the day that the alteration Of the Bank
Of England rate had any perceptibe effect upon the
premium. The sales early in the morning were at
ia 111h alternately, the reduction OF the bank
rate being Offset by Washington advices that the
administration would refuse to recede from its
latest position with reference to the Alabama
claims and the Washington Treaty, and by re-
iectiOn Of this fact in the course Of bonds in
the foreign market where prices declined q o
u per cent from those prevailing at the close last
evening. The specie shipment was $677,000. The
rate for gold loans ranged from per cent for car
rying to nat for borrowing. The operations OF the
Gold Exchange Bank were follows:-Gold
cleared, $50, Oe2, 900; gold balances, $994,4 o5.
The closing quotation was 1877 ia.
GOVERNMENTS
were lower, to accommodate themselves to the
lower quotations on the other side and the weaker
temper Of the gold market, and quotations fell or
fully per cent the 67's selling at 117h. The 62's
were chiefly affected, and difference OF u per
cent existed between prices asked and offered.
The following were the closing prices:-United
States currency skies III 1174; do. do, 1881,
registered, III a NIX; do. do, coupon, 119n a
119X do, fve-twentes registered, May and
November, 1881 1141s; do. do, 1892 coupon, do,
113K a114s; do. do, 1854, do. do 113z 1141s |;
do. do, 1885, do. do, lis o 115A; do. do, 1867,
registered, January and July, 116 118A; do. do.
1885, coupon, do, 1l61S 1854; do do, 1867, do.
do, 117h 1171; do. do, 1868, do. do, 116T
l17X; do. fves Of 1881, funded, registered, 1924
113; do. do coupon, 112sl 113; do. ten-forties,
registered, Ill 1117s do do, coupon, 112 1928.
STATE BONDS
were BETTER and fairly active for the new South
Carolina July issues, which recovered to 1924, but
otherwise steady and quiet, the following being the
only quotations made at the call, which occurred
toward the hour OF adjournment Tennessee skies,
ex coupon, 72x bid; do, new, 724 70; Virginia
sixes coupon, so; d. new, SO q 90; do. consols,
So bid; do, deferred, 177S; Georgia skies, 70 so;
do. sevens, So q 90; North Carolina skies. ex
coupon, 30 32H do, new, 20 a 81; do, specia,
tax, 141 q 15H; South Carolina skies, ex coupon.
81 bid; do, new, July, 32A bid; do, new October,
80 81; Missouri sxes eel4 96ss; Hannibal and St.
Joseph, 93h o. Louisiana skies, ex coupon 90 bid
Alabama fives, 81.
- THE RAILWAY BONDS.
The following were the bids for the railroad
bonds.-