The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-23
HEAVY EXPECTATION OF MERCHANDISE.
The Weeks OutgO of Domestic
Produce Nearly $7,O0O,OOO.
A RISE AND A FALL in GOLD.
Foreign Exchange Nominally Higher,
but Actually Lower.
GOVERNMENT BONDS BUOYANT.

TUESDAY. April 22-6 7. M.
On Change to-day cotton continued quiet ana
steady. Flour was in more demand and steadier,
while wheat and corn were fairly active and
decidedly nrmer.
THE EXPORTS OF THE WEEK.
The total exports OF domestic merchandise from
the port OF New York to foreign ports for the week
ending April % 1873 were or the currency value Of
:$6o47, $50. This amount is, we believe, the largest
for any week III the history of the port and indi
scates healthy condition OF
OUR FOREIGN TRADE
If the exports from all other parts of the coun-
try during the week have been in the same proper
ton the total exports have reached the handsome
aggregate or about S17,ooo,ooo Much of the in
crease is due to the high premium on gold and to
the recent recovery in
THE FOREIGN EXCHANGES,
the combined influence Of which has made ready
market abroad for our cotton. wheat, petroleum,
cheese and other domestic products; but Of it
is attributable to the steady expansion OF agr
cultural and industrial enterprises and their In.
creased capacities under the application OF i'm
proved mechanism and the progress of skill in
labor
THE FOREIGN MARKET.
The London quotations were steady for consols
and firm for United States securities, the '67s and
ten-iortes being tribe higher. Erie shares were
heavy and u lower. The new French loan was
steady and rentes in Paris were shade irmer at
56.O7 In view Of the frmness OF London prices
the street has ceased to canvass the probability
OF any immediate advance in the bank rate.
MONEY MORE ACTIVE.
The sudden relaxation in money brought about a
very natural reaction, particularly as it tended to
induce the withdrawal of balances which had been
attracted to Wall street for employment at the
recent high rates. but which the owners were I'M
willing to lend at as little as per cent The influx
of currency from the interior continues in steady
stream, but the money seems to be absorbed by
the necessities Of the Stock Exchange as fast as it
arrives, so that the withdrawal OF the funds loaned
temporarily the for high rates has caused
q hardening tendency which to-day was evinced in
the
ADVANCE OF TIE RATE ON CALL
to 1-16 per cent, equivalent to about 23 per cent
per annum The other extreme was plain I
per cent, at which some of the leading brokers
tinued to supply themselves by application at bank
with first class stock collaterals and wide margins
Among the government dealers money was abun-
dant all day at seven per cent. Toward the close
the rate receded again, and lett of at about 1-23
The stir in mercantile paper has led to little bust
ness on the basis Of 10 IL per cent for first class
names. The foreign exchange market opened with
further advance OF = per cent in prime sterling
but then reapsed into dulness, and closed heavy
actual sales OF prime sterling being made ID below
the nominal quotations OF 1888 and 1O9s4. "Goodu
bankers three day sight sterling sold at 1O94.
GOLD UNsETTLED-l171 A 117zs 117,4.
The gold market was unsettled, but generally
weak The clique endeavored to make use Of the
advance in the nominal rates for sterling and ran
the price up to 1177s early in the day; put sales
were ELECTED by the rise, and the later weakness in
! exchange caused reaction and decline, the
nouncement OF the heavy experts for the week,
amounting to nearly $7,0ooo0o, causing some trans
actions in the afternoon at as low as 11714 The
course OF the market is shown in the table -