The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-15
FINANCIAL and COMMERCIAL.
Our Wall Street Weekly
Review.
The Money Market and the Bank
Statement.
Dulness on the Stock
Exchange.
Disproportionate Effect Of the Erie
Railway Election.
New York Central and Commo-
dore Vanderbilt.
The Situation in the Cold
Market.
The Pool Still Waiting De-
velOpments.
A "CalF Of Bonds at an Early Day Antici-
pated in the Street
The Presidential Candidates and
the National Finances.
The Pool Still Waiting De-
velOpments.
A "Calp' Of Bonds at an Early Day Antici-
pated in the Street.
The Presidential Candidates and
the National Finances.
WALL STREET,
n~x@vr Y.~v- "a H0Hn

wheat and iour ct good prices The cotton mar
ket continued weak lad Underwent a DECLINE. al
...ough temporarily arrested by report that the
growing crop had been assailed by caterpillars
The dry goods business holds forth promises Of con-
siderable activity in the ensuing season, and many
out-oftown merchants are taking q survey Of the
market as they pass through the city route to the
watering places.
THE MONEY MARKET.
The money market has been easy but irregular In
rates CALL owing to certain local disturbances In
connection with the closing Of the transfers Of tho
Lake Shore Railway, the lack Of new certificates
locking up money for day or two and causing
spasmodic demand, which put the rate to per
cent. On the other hand, dealings were reported
OF as low as Q; but the prevailing rates were s. 81
and per cent. On time money was accessible at
per cent for the remainder Of the year. Prime pa
per, running sixty days to six months, was quoted
at per cent discount. Foreign exchange was
steady at 1osX for prime bankers slxty.day ster.
ling and 11oX 11oK for sight bills.
THE STOCK MARKET.
The chief incident Of the week IN stocks was the
nuctuation in Erie, consequent upon the 0reiormh
election. All things considered, the result was
quietly received by the street, the market here
being, as before, guided entirely by the London
quotations. The dulness was intense at times. and
many Of the ordinarily active avorites went whole
day without sale. The nomination Of Mr.. Greeley
at Baltimore caused at first little depression, but
this soon wore OF. and the market toward the close
was strong and, with larger attendance to get up
enthusiasm, might have become buoyant. The in
terest the last two days centred chiefly In Erie,
Pacific Mail and
NEW YORK CENTRAL,
the last mentioned being set down for some favor
from the Commodore which was to greatly enhance
Its value Pacific Mail moved In way to indicate
that the former pool were advancing It, while Erie
was vigorously manipulated by both "buls" and
'bears." AS for the rest, the market was simply
brokers' Market" and profits Of u O u per cent
were about as much as could be CLEANED from 1t by
the strictest attention to business. New York Gen.
trail scrip has disappeared from the list Of the
Board, the same having been on July 10, formally
converted into stock.
THE GOLD MARKET
The gold market offers seemingly about the only
chance for any animation or sensation during the
summer. The "poop' there are credited with hav
Ing quietly under their control all the way from ten
10 twenty millions Of gold which they are lending
from day to day in the Gold Room at slight loss In
interest which ts cheerfuly sacrificed against the
prospective fruits Of the speculation should their
plans not 60 amss. The ''corner" last year was
most effective in August, that month and septem-
tapering down to nothing Of the cotton exports.
Last week, and on Saturday in particular, the d.
mnishing exports Of cotton and general merchan-
disc were reelected In the increasing
SPECIE SHIPMENTS,
nearly three million dollars going out on Satur-
day, which sounds like Old times when gold was up
In the vicinity of 1885, With all this gold was not
strong at the advance, and on Saturday was only
steady at ia 1141S It's hesitation being explained
by Washington dispatches intimating that the
Secretary Of the Treasury Is contemplating fur
Their 'call" OF bonds for redemption. 1t Is true his
doing has been looked for since he found it
impossible to buy bonds at par or under In gold !;
but the step seems now about TO be taken, judging
from such evidence Is before us. It would not be
surprising II the Gold Board, In coming to business
Monday morning, should find the coll Issued.
MISCELLANEOUS.
Government bonds were steady, but do not show
so much advance as was expected, in consequence
of the reinvestment Of the July interest. good
deal OF this latter money seems to have gone into
railroad bonds, which have been higher than ever
in their history. = ~ * $3.50. M
The Southern State bonds were dull for the gene'
raj list and strong for the Tennessees, the new
South Carolinas being unsettled and moro active
In consequence Of several meetings of the bond
holders to enforce their claim for resumption of
interest payments. The following quotations were
made at the close for
THE SOUTHERN LIST.
Tennessee, ex coupon, IAN a rs; do, new,
T4s 75; Virginia, ex coupon, "A so; DO. regis
tered stock, old, IS q 45; do, skies, consolidated
bonds 81 51h; do. skies, deferred scrip, 10 II;
Georgia skies, ~ 70; do, sevens s8>s So; North
Carolina, ex coupon, SO O "a; do. to North Caro-
lima Railroad, ii o As; do. funding, 1886, rs 90;
do do, 1ses 20 2ej do. new, % Is; do. special
tax, Is 1e; Missouri skies, e42< OAK; do. Hani-
bal and st. Joseph, 91X %; Louisiana skies, so
IS; do, new, so So; do. levee skies, 60 85; DO.
do Fights, 10 a So; do do Fights, 1875, rs q IS;
Alabama fves SO o IS; do. Fights, 81 o ST. South
Carolina skies, IS q co; d. new, January and July,
2sX q 20; do. do, April and October, a. q 2S; Ar.
kansas sixes funded. so a IS.
GOVERNMENT BONDS.
The following were the closing quotations Satur-
day evening for the government list.-United
States currency sixes 114X l14X; do. do, 1881,
registered, 1853. 1855; do do, DO, coupon,
117A a 117K; do. 1ve-twenty, registered May and
November, 116 115M; do. do, 1862, coupon, do,
115 115k; do do, 1894, do, do, LIS 115k; do.
do, 1885, ll6x q 1l6X; do. do, 1897, registered,
January and July, 114h 114a<; do do, 1865, cou-
pom, 1917 o 114K; do. do, 1861, do, 115x ll6k;
90. do 1893, do, 1llx 115; do. ten-forty, regis
tered, 1l1X llixi az. d., coupon, i1ax ll2Ki