The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-08
ERIE IN ALBANY AND WALL STREET.
Repeal Of classification Reported
and the Stock Up to Sc.
4 liked MARKET At THE CLOSE.
Money Activs-GOld Steady GOvsrnments
Shong-The Called FiVe.TwentieS.

I
THURSDAY. March To p. M.
ON 'Change to-day wheat was heavy. The cotton
market was quiet and hrmer.
THE BANK OF ENGLAND.
Cable advces report that the Directors Of the
Bank OF England, at their meeting this morning,
confirmed the previous minimum discount rate OF
three per cent The bullion account shows de.
crease for the week Of s270, 900.
THE REDEMPTION OF THE "CALLED" BONDS.
The Assistant Treasurer casned checks to-day TO
the extent OF only $2s0OOO in redemption of the five
twenty bonds, some of which. belonged to the first
call The interest on the $40 oOO 900 designated in
tho call OF December Z, 1871 ceased to-day. Most
Of the bonds were held in Europe and were, doubt
less largely bought In by the Assistant Secretary OF
the Treasury, Judge Richardson, pending his
t0urn there. The bonds must be sent to Washing
ton for examination previous to redemption, and
checks Will be forwarded the owners, payable at
sne nearest ub-Treasury. The owners OF the bonds
belonging in this country have shipped their bonds
to Washington only within the past few days, SO
that the 1eay in their payment is not surprising.
The foreign bonds viii be brought by Judge Rich
ardaon, who Is expected back from Europe shortly.
MONEY ACTIVE. T@Fgs4s
The money market was active, and at times
rather stringent. The government dealers and the
stronger class OF stockbroKers paid seven per cent
from the start. After two O'Clock there was
sharp demand from the stock houses, which was
generally met at seven, coin, with q few transac-
lions at commission Of 1872 The closing dealings
were aS Z. c0in q 49, The greater scarcity OF
money IL attributed to the active movement on the
Stock Exchange, where the current daily volume Of
business b large enough to give full employment
to all the surplus capital OF the street.
the "April settlements" have not been provided for
~ yet 90 that opinions in the street differ very
much "a to course OF money the next four weeks.
The country banks have pretty fair balances in New
York, and. If disposed to draw upon them, could
prectpitate q stringent msrket.
Prime paper Is quoted I n per cent discount.
Foreign exchange was steady. as previously
quoted-that ls the leading drawers were asking
10ex for sixty day sterling and 110 for sight bills,
while the latrer were selling fully below the c0un-
Ter rate.
GOLD DULL-110 A 110x.
The gold market was intensely dull, the dial hav-
ing changed only nve times during the session OF
the Board and then to register the fluctuations be-
tween ITO and 110H. The market so rar as 1t
showed any variation In tone, opened weak and de-
clined to ITO in anticipation Of the Treasury pay
ments for the called hve-twenties and In conse-
quence OF the announcements that the Bank
OF England rate remained unchanged; but
strengthened TO 11OA at the close on
she hghtness of these disbursements to.
day and In answer to the steady mercantile
demand for customs payments. The falling
on In the specie Of the Bank of England also had
something to do with determining the flrmer tone
ct the close The course Of the market is shown in
the table, which for the first seven entries Is an ex
act transcript OF the Gold Registers book