The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-22
DECLINE IN FOREIGN EXCHANGE,
The Gold Market Lower, but Raj
lied by the Clique.
Prices at the Stock Exchange
Unsettled and Irregular.
A Decline in Pacific Mail and a Rise
in Western Union.
WALL STREET,

WALL STREET, /
FRIDAY, March 2l-6 p. M.
On 'Change to-day cotton was In fair request
good ordinary being reduced &c. per pound, and
now middling upland advanced &c. per pound.
Flour continued quiet. Wheat and corn were
11rmer.
THE DRY GOODS IMPORTS.
The total imports OF foreign dry goods at the port
OF New York during the week ending March 20,
1874 were OF the specie value OF $2,9s7,416 The
amount marketed during the same period was
$2,e6s,42s.
THE FOREIGN MARKET.
The London quotations were steady for consols
and United States bonds. Erie shares were frmer
and closed at SIX, equivalent to about 64l in our
currency. French rentes in Paris advanced TO
$685. doubtless on the gain OF 900 francs in the
bullion account OF the Bank Of France during the
past week.
The money market was active-perhaps 1t de-
served to be called stringentduring all the earlier
portion OF the day, the rate on call among the
stockholders standing at 1-l6 to lie and interest
the greater part OF the time. After two O'Clock,
however, there was a sensible relaxation, and the
rate yielded to 1872 and then to seven per oent
gold, and eventually loans were made at
AS Low AS SIX PER GENT
before three O'Clock, the sidewalk market breaking
up at the earliest 1t has separated in good WHILE
In explanation 1t is said that the clique of meney
squeezers were unable to control the rate any
longer, the flow OF currency to this city from the
West making q steady accumulation of money out
side the sources from which they drew for their
daily operations in the street. 1t Is pretty gen.
orally understood that the clique were supplied
with money by certain bank officials on the agree
ment that they were to allow the banks seven per
cent and q share OF the commission" or bonus,
nh cd FIJI IN noe nj tha fror no
brokers. Mercantile paper was nominal and un-
changed
DECLINE IN FOREIGN EXCHANGE
The foreign exchanges were weak and lower
under large sales OF bankers bills drawn against
the export to Germany OF United States bonds and
also OF shipments Of Erie TO London. Rates were
reduced y at the desk, but prime sterling was to
be had at 1071S q 1855. The following are the re-
vised quotations :--Sterllng, sixty days CONNER
Cial 1917 a 1O7x; do. good to prime bunkers, 1o7x
a lOsh; do, short sight, 1oss 1881; Paris sixty
days. 5.32S 52sh do, short sight: 5.23a< 5.22M;
Prussian thalers, 70S 71A; Antwerp, 5.32H
6.27h; Switzerland, 5.321s 5.27h; Hamburg, "a
o4zS; Amsterdam 39a4 q 4oh Frankfort, 4Oh 4Oa
Bremen, "a 94ys.
GOLD sTEADY-115I A 1853.
The gold market opened weak despite the strenu-
Gus resistance OF the clique, and the price or
to 1153i. the downward tendency being in sympa-
thy Win the oecnne IN foreign exchange, ana re-
Ceving help from the Custom House return OF dry
goods imports for the week OF less than 49, Co.,
1t will be remembered that the small return of i'm
ports last week was attributed to the non-arrival
of several cargoes. and that the deficiency would
appear an 0verplus this week. This calculation
has not proved q correct one, the Custom
House figures show. Despite these influences the
Clique, who had some difficulty in managing the
CASH GOLD
at the Clearing House, but got better ''pur-
chase" upon 1t for the three O'Clock deliveries,
succeeded In restoring the market to 115H at the
close, their efforts being assisted by the announce
ment from Washington that the Treasury had been
compelled to draw upon the extra greenbacks to
the extent Of another million of dollars. The
course Of the market is shown in the table,