The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-05-11
FINANCIAL And COMMERCIAL.
COZ ADVANCING---PRE la IL.
STOCK MARKET STILL WEAK.
GOVERNMENT SECURITIES STRONG.
WALL STREET.


FRIDAY, May 100 p. M
Another advance in dour has taken place, all
grades being up from five to ten cents Wheat
Ia also better in price from three to hye cents
Cotton remains the same.
GoLD-HIGHEsr, Hay; LOWEST, 1852.
The gold market is strong with slight advanc-
Ing tendency in the premium. The fluctuations ior
week past although the movement mas Deeh up
ward have hardly been worthy OF note; in fact 1t
has looked as II the dealers had screwed certain
figures and fractions forming the premium to their
counters and had made up their minds to let them
STAY there. The opening price was ia, from which
it fell to 1877, and then advanced " 1I4l. Not
much money has been recently lost or won in the
Gold Exchange. change is needed In these hot
and dusty days. II nothing more than for the sake
OF change. The bears should settle the Alabama
question in Wall street and knock gold down to
ITO, and not permit it to get above that for the
balance Of the summer.
MONEY MARKET
Money has been easier to-day, and the
rate of interest is down to five and
Six per cent There is no evidence suni-
cent to warrant the belief, however, that it
will remain In that condition for any great length
of time. Money is now plenty in this market, but
demand is soon expected from the West that will
reduce the total very considerably.
MONEY MARKET IN OTHER CITIES
The condition OF the Boston money market is thus
referred to by the Journal of that city OF Thursday
afternoon:-
The reports concerning the money situation are
rather favorable. CAL loans are certainly more
easily attainabe at the going rate, seven per cent
Some few OF the banks are getting easier and work
Ing into better position than they were on the
last return day. which was certainly very needfu If
they intended to come up to the legal requirement.
Some banks are yet hard pushed by their
toners, and find 1t very difficult TO hold back from
discounting. These last DC not see any improve
ment In the market.
In Cincinnati on the sth inst, are informed
by the Gazette, the demand for money was quite
active, and in some quarters exceeded the income
from maturing paper, but rule the banks were
able to discount to the extent Of the applications of
depositors, although there were some exceptions,
and rather more good business paper than usual
was thrown upon the open market The applica-
tiOns for loans confined to interest but
appeared to be more generally distributed through
all branches OF trade than customary at this
Of the year, and while the market could not be
called stringent it was several degrees removed
from ease.
From the Chicago papers OF the 18th we learn that
The money market was quiet and an easier feel
ing prevailed; the inquiry for loans not so
urgent and bankers generally reported the market
easy. Borrowers experienced little difficulty In OBJ
tanning all the favors they desired. The inquiry
was more equally distributed, lumber dealers,
wholesale merchants and spectators in grain and
provisions all making moderate requests. On the
street there was only fair business doing, as
bankers were inclined to accept offerings more
freely. The shipments OF currency to the country
were comparatively light while the receipts were
fair.
THE SHARE MARKET.
There was nothing remarkable In the stock
market to-day, except perhaps that Erie opened at
20 and ran down to IS, which were the highest and
lowest figures; the sales having mostly been made
on the fractions above 90. Nearly all the other
stocks on the list exhibited weakness, and main
tanned with the greatest difficulty the lower quota
tions of yesterday New York Central and Hudson
River started at 9736 but did not fall below 967S
Pacific Mail reached 1873, the highest, and at no
time got below 74zs; the same may be said Of West
ern Union; Northwestern nuctuated between IS and
76; Lake Shore between "a and 95; Ohio and Missis
sippi stuck at 40 and 46h; Boston, Hartford and
Erie sold up to ga, and was about the only stock
that struck above the highest price OF yesterday
Union Pacific could not reach over 3s7s; Columbus,
Chicago and Indiana Central went down from SO y
to 351s Rock Island held very well between Ill Is
and 1l1H not much was done in st. Paul, which
stood at $50. A sale was made of Pacific Mail at
"a, seller fifteen days. The following table compares
the highest and lowest quotations OF stocks to-day
with those Of yesterday