The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-09-28
Continued Acrobacy in the
Money Market.
UP TO As AND DOWN TO 4 PER CENT.
Gold Declines a Half and Receivers a
Quarter Per Cent.
The Approaching Abolition Of Stamps
and Taxes in Brokers Business.
THE WEEKS IMPORTS OF DRY GOODS.
WALL STREET,


FRIDAY, Sept 27-6 r. M.
On Change to-day -four was in fair demand and
steady. Wheat and corn were active and firmer
Cotton was in moderate demand at about previous
figures
THE DRY GOODs IMPORTS.
The total imports of foreign dry goods at this
port for the week ending September 20, 1872, were
$2.687,74O. The amount marketed was $3,07l,49s.
REPEAL OF THE TAXES ON BANKERS CAPITAL AND
BROKERS' SALES.
In pursuance of the amendments to the Internal
Revenue law adopted at the last session OF Con-
grcss tho tax on borrowed" capital stands re-
pealed. Returns Of ordinary capital and deposits
are required only on the 1st Of January and LIST of
July In each year, the tax being at the Old rate Of
l-24 per cent per month"; or per cent for the half
year on the monthly averages. On and after Tues
day next, October the stamp tax Is repealed for
all documents and papers Included In the O-called
SCHEDULE Il,
except checks, drafts and orders. The stamp re-
required In this case ia, as BEFORE two cents. The
law as to this tax reads as tOllows:-
Bank check, draft or order for the payment Of
bank, banker or trust company, or for any sum eX-
ceeding ten dollars drawn upon any other person
or persons companies or corporations at sight or
on demand, two cents
On aud after Tuesday, therefore, the sales "tck-
cts" accompanying deliveries OF stocks and stock
contracts will not require to be stamped. The
brokers will not regret the cessation of historical
nuisance.
MONEY AS BEFORE.
The money market was easy in the forenoon,
but gradually hardened until in the dealings at the
board as high as 1-16 u was paid in a few iu-
stances. After two O'Clock the rate receded to
per cent and the sidewalk market had adjourned
some umc three O'Clock the closing quotations
beiag4a per cent. The high rates referred to
we're obtained mostly for the carrying stocks,
The regular dealings having been confined to
limit Of per cent gold. Mercantile paper was
dull and quoted o IL per cent discount for prime
names.
FOREIGN EXCHANGE
was weak and lower on heavy sales of the bills of
one OF the leading drawers, which were advanced
against the hypothecatiOn of Pacific Mail stock and
thrown upon the market to realize cash for the
purpose OF assisting the operations Of the pool in
that stock Prime sixtyday sterling SOLD at as low
as 1O7k. The nominal quotations were lowered a
quarter per cent, and left Off follows :-Sterling,
sixty days, commercial, 1868 107I; do, good to
prime bankers, 1o7,S 1918 do short sight, 1882
q losN; Paris, sixty days, $40 s.S5; do, short
Sight. b.31>l $50; Prussan thalers 7o]s a 71x;
Antwerp 5.s5 $50; Switzerland, 5.35 $50 Ham
burg, 35 35M; Amsterdam 3936 40; frankfort,
doH q 4OS; Bremen, 931 941.
GOLD LOwER-114 49,.
The gold market was weak and during the FORE
noon broke down from ia to 1l31s, under a pres
sure OF sales supposed at first to come from the
clique whose change Of front from the previous day,
when they were known to have locked up nearly
two millions OF gold, occasioned the utmost
prise When, however 1t was discovered that the
sales Of gold had been made by the Pacific Mail
pool In pursuance of the business or cashing the
sterling advanced to them by an Englisi-American
banking house, as narrated in the previous para
graph,
THE CURRENT CHANGED
and gold recovered to 113, closing pretty firm at
that price. The innocent members of the gold
clique stood 'lookers on In Venice" as oil this gold
was being disposed Of wondering at its source, and
would not be believed by their partisans when as
'surances were given to the contrary, and subjected
themselves to q general suspicion among their
friends OF having played the latter false. The Sub
Treasury paid out $4,000 on account Of interest
and $1,000 on account Of redeemed fivetwentles.
The course Of the market Is shown In the table,
GOLD FLUCTUATIONS.