The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-10
ce Jan. i. 4,4s1, 532 $56,61l, Al $69,3sS,
THE FOR EIGN MARKET

Since JAM L. $64, 4s1, 532 421 $69,3sS, 543
THE FOREIGN MARKET.
The London quotations were firm for consols and
bonds The '67's were strong and advanced u q u,
but subsequently lost the Improvement Erie
shares advanced to SIX. The London Stock Ex-
change will be closed on Friday, Saturday and
Monday. In Paris rentes closed at 1921.
THE GOVERNMENT PURCHASE OF BONDS.
The proposals to sell fve-twenties to the govern
ment were ten in number, rendering total OF
s., 42s $50 at prices ranging tex coupon) from ia 40
to 1850. The purchases, which were confined to
$500, 600, were made at 114.49 114.97, or at an
average of about 34 per cent below their par in
gold.
MONEY UNSETTLED.
The money market was easier in the average OF
the days business, but the rate call was quite
unsettled and huctuated frequently The early
dealings at about 316 per cent, with an occa-
sional loan at q per cent which consideration was
paid quite freely in turning stocks. By midday
the rate had become y, and between two and
three O'Clock there was momentary drop to per
cent gold, with pretty active
PRESSURE TO LEND
at l-64 a 1882 and interest. Before the close OF
banking hours these offerings were absorbed and a
later inquiry was maintained at lie and even u
per cent again. The influx Of currency from the
interior is progressing rapidly as well be ex-
pected, but as The receipts so far are mostly
national bank rDtes, the lending powers OF the
banks are rather weakened than strengthened,
and will confirm, to be until larger proportion of
greenbacks ente's into these receipts. Meantime,
as we have already pointed out in discussing the
Treasury programme Of heavy gold sales, the
OPERATIONS OF THE TREASURY
will tend to helrthe banks in the substitution of
gold for an equivalent Of these notes, unless the
l0cking-up clique manage to buy the gold and pay
for it with greeRacks, as they have done several
times already the past and present months. The
rate OF exchangeat Chicago on New York has ad-
vanced to u 61oper thousand. Mercantile paper
is without other nan purely nominal quotation
Feregn exchange was firmer and rather more
active, as a consequence OF the easier rates for
money and rates 1t the counter were marked up
to 1914 1881 orprime sterling, with actual bus
ness ut concession of % u per cent.
The Gold Exchange having concurred with the
Stock Exchange fer an adjournment on Good
Friday business II all departments Of Wall street
will be suspended except such as will necessarily
arise at the banksand private bankers
GOLD FTERIsH-1177S 11S3S.
The gold marketwas feverish and unsettled be-
tween the extremes of l17zs and 11s7s The lower
of these figures wa touched in the forenoon quite
early under sales ,ganst the buoyancy Of the CTS
in London, and ne higher extreme was the conse
quence OF raly under the easier terms for carry
ing gold. Butthe market again dropped to 117zs
in che afterpon, with the closing spasm in money,
and eventually left or at 1881. AS an indication
of the DRIP Of the surplus capital Of Europe and as
an important element in the solution of the great
problem of the gold market we invite the readers
attention to a paragraph further on upon the SUBJ
Iect IF American railroad bonds in Europe. The
facta therein narrated show that the owners of
EUROPEAN CAPITAL
ire learning to make their own investments, IRE
,pective of the timehonored and too conservative
authorities which they were in the habit of con-
sultng With money worth per cent on ample
security in AmeriGi, the average English capitalist
IA beginning to sec the advantage OF investing here
despite any threatened "turn of the screwn by the
Bank OF England. The course Of the gold market
Ia shown in the tale:-