The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-11
Rumors OF Failures.--Thcif Influence and
Their Injustice. Prices Still Down.
RAILROAD BONDS FIRM.
Tho Bonds Of Burlington. Cedar Rapids
and Minnesota Admitted to the
London Stock Exchange.
1t WALL STRERT,
WEDNESDAY. Sept. 10-6 P. n.
THH FOREIGN NARWEr.

WALL SrRsr,
WEDNESDAY, Sept 10-6P. NJ
THE FOREIGN MARKET.
Our London advices to-day report withdrawal
from the Bank OF England OF &100, 000 Money Is
still stringent at 81 per cent on three months
sils. On government securities the rate was TX
per cent American bonds are reported firm. The
following were the last quotations :-Consols for
money, 92k Q 92x; consos for account, 92x; hve-
twenty bonds 1866 (old), 96H o 96H; hve.twenty
bonds of 1867, 95>z 96}l; ten-forty bonds, cox
DK; new fyes, ok 91x; Erie Railway shares, ~
ASK; new French loan, TX per cent premium.
t2entes In Paris are quoted at 50, de-
cline. In Frankfort nve-twenties Of 1891
command 81. Late advices by mail, dated August
%. state that there IL gut Of money in the Stock
exchange, which accounts for low rates. CORE
Ipondent writes as follows:-'The amount OF the
aew German gold coinage on the 9th inst. was
H4os4 800 marks, about f4l 2OS 900. The coinage
In the week ending the 9th amounted to about
f77s000 All the accounts from the foreign bourses
describe state of stagnation fully equal to that
which prevails on this side. Notwithstanding the
extraordinary rate at which the financial trans
actions OF the world increase year BY year, 1t
may be questioned II more complete
or general suspension OF speculative bust
ness has at any time been observable.
Prices are steady, and there are at most centres
considerable amounts OF unemployed capital seek
ing investment, but there is no symptom Of ANNA
ton, and transactions are everywhere suspended.
Probably in later months Of the year the return
IF activity will be proportionately greater. Mean
while it is satisfactory to find that, far as the
trade Of Austria is concerned, the effects
Df the Vienna crisis appear to have
almost entirely passed away. Advices from
Berlin report that market to be much
In the same condition as our own. There is q CON-
Jlete absence of business. but, money being very
abundant, 1t il expected that when the principal
operators return from the country the better class
Of stocks win be rapidly taken up and that great
sctivity will prevail in the autumn"
THE MONEY MARKET s
Money followed the same irregular channel
which It has occupied for several days past. 1t
ruled firmly at per cent gold, during the morning,
with exceptional dealings at 1-64; but later the
market became easier and closed at and per
cent The outflow of currency to the West is not
reported to be as great as 1t has been, and some
thing like refiux may be expected as incident to
the movement of the Western crops. Still 1t isnot
10 be forgotten that the bacon, wool and cotton
srops have yet to be provided for and that the
central point Of disbursement temporarily is New
York This money will return, not Immediately,
but certainly, and 1t Is upon this expectation that
yur jobbers to-day are extending credit to
the thousands OF Outol-tOWn merchants
who are engaged in purchasing their fall stocks Of
goods Foreign exchange though weak at one
period Of the day, closed steady at 1854 1857 Tor
prime sixty day sterling and 1921 1925 for sight;
for cable transfers, 1925.
GOLD STILL DECLINING.
The Gold Exchange was again scene Of activity
to-day, the contest being resumed between the
bulls and bears for supremacy. 1t is now to be
fairly inferred that neither Of these represent
recent SPOOL" and that the fluctuations are due
solely to the active bidding Of the two antagonstc
parties who now are largely the instruments Of
its distribution. The two extremes OF the day
were 1llK 110X. and there are not
'ew who predict much lower prices These
ntuitions however, are to be taken
Gun, gran0 salts, for at any moment
combination may be sprung which Will advance
The price or 2per cent. 1t is almost abnormal
IN the history OF gold in this country that specu-
latton OF the character through which we have just
passed should be followed by some rally or re-
action. 1t mao be prudently anticipated for there
are plenty who are watching the opportunity. The