The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-05-22
FINANCIAL and COMMERCIAL.
GOLD 113 5-s a Il3 3D..
4 Steady Feeling in the Gold Market, with
Foreign Exchange Quiet ard Firm.
Specie Shipment Tomorrow
100000.
More Comparative Figures Concerning
Our Imports and Weekly Ex-
hibit Of Cur Exports.
LHOTEER QUIET DAY In STOCKS.
Special Excitement in Erie and
Pacific Mail, with the Causes
Operating Thereto.
Colonel Tom Sect as a Probable
Prince OF Erie.
His Chances and Latent and Ac-
tive Opposition Arrayed
Against Him.
Governments Strong, Southern Securities
Firm, Railway Mortgages Steady and
City Bank Shares Quiet.
Colonel Tom Scott as a Probable
Prince OF Erie.
His Chances and Latent and Ac-
tive Opposition Arrayed
Against Him.
Governments Strong Southern Securities
Firm, Railway Mortgages Steady and
City Bank Shares Quiet.
SING PRO ES.
WALL STREET,

WALL STREET,
TUESDAY, May 2l-6 p NJ.
On 'Change to-day wheat was dull and heavy,
with selling disposition, but without sufficient
yielding to stimulate transactions. Flour was in
moderate inquiry, with irregular prices and heavy
tone. Cotton was quiet and steady. The result OF
The past weeks business shows general decline
In breadstulfs, with o falling Off in the export de-
Mand.
GOLD STEADY.
The gold market was extremely quiet to-day, but
rather irmer than when first the acceptance OF the
supplementary article to the Washington Treaty
was regarded accomplished fact. The eX-
treme figures Of the day were 1l3h 113N, the
market opening at the higher figure, and with the
bulk OF the days business at 1875, closing at 113%
to 113 11-16. The customs receipts to-day were
900. The Assistant Treasurer paid out $22, 600
on account ofinterest and 900 in redemption OF
fve-twenty bonds The operations of the Gold Ex-
change Bank were as follows: Gold balances
9l,l18,o59; currency balances, S1,27i,74s; gross
clearanccs, S3S,o33,ooo The carrying rate ranged
from two to five per cent. In this connection and
completing the tables published in this column
Monday last, the following figures from circular
recently issued show one portion OF our foreign
Indebtedness and its rapid increase:-
Comparative exports of rails from Great Britain,
10 the United States compiled from official returns
published by authority of the House OF Commons,
Tor the month ending April so, in tons:-
1870 ........... 37016 1s72... ........... 5O,5ss
Aod............... oZ3oo
Comparative exports, &C., for the four months
ending April 30:-
1s70............. 1l7,so5 1ST2............ 1S0193
ael. lo5,4Zl
Comparative exports of pig iron from Great Britain
to the United States for the week ending April 3d.
in tOns:-
ls7O................ 1922 1s72............ 2o14o
teI........ lb,OoU
Comparative exports OF pig ron &c, for the four
months ending April 30:-
1s70.............. 2S,2sI 1S12............ l,4S3
1871. 5I,4i9
These figures furnish an explanation OF the kind
of payment that has been made for very many Of
our railroad bonds placed in Europe during the past
couple Of years, especially Of new roads, and further
Illustrates the character Of the influence operating
TO bring about the abandonment of any claims for
consequential damages IN respect to the Treaty Of
Washington.
STOCKS UNSETTLED
The stock market was generally quiet and I'M
eventiu moving within narrow margin, the prn-
Cipa interest being attracted towards the specales
Of yesterduy-Erie, Pacific Mail ana G. G. and l. c.
The latter was heavy late in the day and went off.
Erie was active and excited the presentation of
the conditions attending Colonel Scott's candidacy
for the presidency in the HERALD this morning,
Stems The influence OF his presence in the race for
control in reality very easy OF appreciation Who
the transfer books remain open, and pending his
movement to secure a majority Of stock, in his
favor, the effect must be to ADVANCE the price, but
once the contest is over, SURPRISING him to be sue
ccsslu witM1Ypidly dissoving views Of the hoped
for, rather tha1Iexpected dividends, sudden col
lapse Is almost certain. The discussion to-day,
excited by the HERALD article, however, developed
the fact that the Colonel will not be permitted to
have everything his own way without oppos
ton, and that although president of twenty
Fix railroads, from which it is said he
draws salary Of $4,000 per annum, he will not
be quietly permitted to make Erie the twenty-sev-
enth corporation to further swell that amount
The able Vice President of the Pennsylvania Rail-
way Company Is likely to IND Garrett, OF the Balt-
more and Ohio, foeman still worthy Of his Steel
hotwithstanding the result OF the late contest In
the committee rooms at Washington. 1t is said
mat Carrot, by consolidation OF various railroad
interests in New Jersey Delaware and Maryland,
In connection with the New Jersey Southern Rail-
Toaohne-the corporation which recently purchased
the steamers Plymouth Rock and Jesse Hoyt--has
secured through connection with New York with
the exception Of section Of ten miles IN Maryland
now under contract the completion Of which will
permit of the cars OF the Baltimore and Ohio Rail-
road being ran into New York city. This viii be q
severe blow to the great American railroad lessee
and largely interfere with his supposed proprietary
rights In New Jersey. II further appears Mat
la that submissive state there was
geniously added to an act OF incorporation
OF a manufacturing company there supple
nentaryn clause which gave the corporation au
thority TO build railroad TO Philadelphia Thus
when even Jersey Is seeking to go back on the
Colonel, there Is but poor prospect OF his success in
New YORK. Erie was firm on the other side to-day
upon purchases made against short sales here yes
terday and Saturday Pacific Mali advanced TO s7li
again upon the passage by the House OF Representa-
yves OF the amendment to the Postal Appropriation
pIi authorizing the increase of the annual subsidy
W si'ooO'ooo. This had been largely discounted
PREVIOUSLY, however, the reported organization OF
w hhghsh opposition line insuring its success.
IN ieRaro 10 the election to be held next week IL
" s'neiaiS conceded that the present management
WIZ NC continued. Western Union waa arm ana
hoVahceu 70 ''% upon the statement that the com.
pany had negotiated loan of esoD 900 sterling an
'he o,her SIDE for the construction or tbety
proposed new building on the corner of
broadway and Dey street. a private desnatcb
"oh washington says commissioner Douo,as
immediate seizure OF property of Central and
huason Railroad for scrip dividend tax. mder nro
VISION III ihe act of the New York AssemhIv matino
Inc concentrated company responsible for ali debts
" t'e oIu corporations; but the New York Central
k00 uuQ60Q refused he inuu.noa.,