The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-21
FINANCIAL and COMMERCIAL.
An Advance in Erie Abroad and
ut Home.
MARKET DULL AND STEADY.
THE GOSSIP OF THE Day.
Wall Street Without a
.,r.v Leader.
The "BugabOO' Of the Bulls
sst and Bears.
GOLD A FRACTION LOWER.
Money Easy and Government
Bonds Strong.
Tho Vienna Embarrassment and
It's Probable Results.
The ssBugabOO'' Of the Bulls
.sst and Bears.
GOLD A FRACTION LOWER.
Money Easy and Government
a Bonds Strong.
The Vienna Embarrassment and
It's Probable Results.
WALL STREET,

!. t,~ .~ WALL STREET,
TUESDAY, May 20-6 p. M.
ON Change to-day cotton continued dull. Flour
was in good demand and firm. Wheat was rather
easier and corn heavy.
TUE EXPORTS OF THE WEEK.
The total exports Of domestic merchandise dur
ing the week ending May 90 1878, were Of the value,
An currency, of $5,452s94.
THE FOREIGN MARKET.
Advices from London are to the effect that q
further sum Of f52, 900 has been withdrawn from
the Bank Of England. The rate Of discount re-
mains unchanged. The market has visbly
strengthened, consols being firm, while United
States bonds were higher, with an upward ten
dency The issues Of 1867 were active ana advanced
Il per cent to esA The new aves also moved
upward Il per cent and are quoted at SSX. Ten
forties participate in the general buoyancy Of the
market and are marked S8H 8SX. The new
French loan commands premium OF ~ a ~ per
cent which rs, doubtless attributable to the new
French coalition between
fr.rae THEIRS AND HIS ALLIES
In the Corps Legslatif and to the imminence OF an
outbreak in France. At the close of the day Erie
was quoted at 49A q 49h-an advance OF u per
cent. Rentes SAT. zoe. No further advices have
been received from the Continent and the tremor
caused by the anticipation of further financial
embarrassment has, for the present, subsidized.
There are those, however, who believe that the
trouble has not passed that the spirit Of specula-
Mon has embraced in its folds large numbers OF
persons who win eventually be forced into hquida-
ton. and that more disturbance will consequently
be felt in financial circles abroad than is now gen.
orally supposed on this side of the Atlantic. At
the same time confidence is expressed In the
ability of the prime German and Austrian bankers
to withstand the storm, and when Its worst throes
have passed away it is alleged that the atmos-
phere will be purer and credit stronger than
before.
THE MONEY MARKET.
The market remains unchanged In the features
previously recorded. Money was a trine easier,
the rate Of interest on call loans ranging from to
1per cent, with the majority Of transactions the
basis Of 8 per cent. Prime commercial paper
found ready sale at 9 per cent discount The
supply Of money is still abundant, and no fear is
expressed that 1t will become scarce during the
summer It is well known fact that the South
has absorbed large amount Of our currency and
there are but few pointsas, for instance, New Or
ieans Memphis and Charleston-rom which 1t re-
turns. It has entered into the Southern circula-
ton and there remains. II by any possibility this
current should turn Northward during the Sum-
mer money win be easier and lower than even
ct present; but In any event there seems no reason
why 1t should not maintain its present rates.
FOREIGN EXCHANGE ht#
was weak. and the bankers lowered their rate X
per cent for sterling This is in pursuance of the
reaction referred to yesterday in the HERALD. The
following are the altered rates :-Sterling, sixty
days, commercial, losk 1osX; do, good to prime
bankers, 1857 1925; do, short sight, ITO 11Ok
Paris sixty days, 6.27h SEX; do, short sight,
6.lsX q 6.17K; Prussian thalers, 71k q 72k;
Antwerp, 5.26k b.21k; Switzerland, 6.26k q
SAX; Hamburg, 951s 96a4; Amsterdam, 3eX .
cox; Frankfort, A02S 4lH; Bremen, 9511 q 0s14.
GOLD srEApY-117x A 117X.
The market in gold was dull and heavy, and in
sympathy with the weakness already reported in
foreign exchange, having fallen on to 117x. The
fluctuations were but s gbt, as will be seen by the
IN