The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-24
FINANCIAL and COMMERCIAL.
An Active and Steady but
Easier Money Market.
The Rate on Call Seven Per Cent Coin
to -Four Per Cent Currency.
BU0YAkCY AT THE STOCK EXCHANGE.
NN the Groundswell Of the Spring Tide or
the Advent Of the January Rise"
The Optimists Of New York Central and
the Pessimists of Mariposa.
VIIE SYNDICATE STARTING SPECULATION.
Gold Lower, with Clique
Change of Tactics.
The Effect on Government Bonds of the Re-
vival Of Syndicate Operations.
The 0ptimists Of New York Central and
the Pessimists Of Mariposa.
VIIE SYNDICATE STARTING SPECULATION.
Gold Lower, with Clique
Change of Tactics.
The Effect on Government Bonds of the Re-
yival Of Syndicate Operations.
STREET,

WEDNESDAY, Jan. 20 r. NJ
On Change to-day cotton was in good demand
and steady for "spot," while Cultures an &c.
per lib. better. Flour continued active and closed
dearer, while wheat and corn were quiet, but firm.
THE GOVERNMENT PURCHASE OF BONDS.
There were nine proposals to sell bonds to the
government, the amount rendered being $666,4OO
at prices ranging from 1920 to 1880. The price
of gold was taken to be 11376, which limited the
acceptances to $5l6, 400 at 1920 1887.
THE SYNDICATE OPERATIONS.
The washington news dispatches of this evening
state that the Secretary of the Treasury has taken
no further steps toward negotiation Of the new
loan, but will probably make q choice tomorrow
between the rival Syndcates who have submitted
proposals to him preliminary to an immediate
prosecution Of the rounding of the six per cents.
THE FOREIGN MARKET.
The cable kilograms continue to report better
market at the other side, the London quotations
coming another q better for consols, if the pub
lie mind were fully treasured of the pacific rela-
tons of England and Russia regarding the Asatic
question United States securities have been
steady for the old six per cents and rmer for the
ten-fOrtes and new fives, not unnatural conse-
quence of the proposed resumption OF refunding
OF the former Erie shares, after feverish fuctu-
alton, closed at an advance to 5oA-equivalent to
GO in our currency.
MONEY EASIER.
The money market was active, but with relax
ing tendency and easier rates. The rate on call
among the stockholders was pretty uniformly 7
per cent, at which there was an active demand,
with occasional transactions at per cent coin.
Among the government dealers the rate was about
8per cent with exceptions at 5 and per cent.
Toward the close of banking hours there was
a pressure to lend in the market on the
oil fhp rat q m as low
cent for some nominal transactions just at the
verge Of three O'Clock. The dealings in CONNER
cial paper were on larger scale and on the basis
OF 8a9 per cent for prime names the quotation
ranging from to 10 per cent for first class grades.
Foreign exchange was firm and rates unaltered.
GOLD LOwER-1134 A 1885.
The gold market was lower under the depressi
influence OF the contemplated early resumption of
operations by the Syndicate the effect Of which is
rather of moral than OF a substantial nature, for
the reason that the further refundng of the 62s
will result simply IN an exchange of one kind Of
bond for another by European holders, the issues
first liable to redemption being almost wholly held
in the foreign market. The market was alss heavy
under free supply OF Clique gold, which, as is now
evident, hurredly disposed OF yesterday before
the action of the Ways and Means Committee had
been made public, the clearances this afternoon
nearly $1Os. 900, OOO-revealing the extent OF the
transactions arising under this
NEW INFLUENCE.
Accelerated by these considerations the price de-
clined to 1877; but at later period Of the day
acted to 1887 (Which 1t touched for a moment
only upon the announcement that in addition to
q shipment to-day OF over 100000 specie, comprs-
ing $15OO00 gOld a foreign house had engaged
$3.50, 600 to $780, 900 coin to go out by tomorrows
steamer Toward the close the market softened
again to 113a, and closed duh ana steady. The
Sub-Treasury paid out $4,000 on account OF past
due interest on the public debt chiefly for January
coupons, and $4,000 on account OF the dwindling
balance OF
CALLED FivE-rwBNTIEs
Of 1862. The course OF the market is shown IN the