The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-19
FINANCIAL and COMMERCIAL.
An Active Spasm in Money
at the Close.
The LAST RATE l-l6 AND INTEREST.
An Advance and Reaction and De-
cline in Gold.
WEAKNESS Of FOREIGN EXCHANGE.
Government Bonds Active, Higher
and Buoyant.
STOCKS DULL AND FIRMER.
The Advance in st. Paul and Its
Explanation.
The Great Rival Railway Interests in the
West and Northwest.
A Decline in Erie in London and Fall in
French Rentes in Paris.
STOCKS DULL AND FIRMER.
The Advance in st. Paul and Its
Explanation.
The Great Rival Railway Interests in the
West and Northwest.
A Decline in Erie in London and Fall in
French Rentes in Paris.
WALL STREET,


TUESDAY, March 1916 p. M.
On 'Change to-day cotton on the spot was only
moderately sought after, with former figures
ruling. Futures were active and advanced sc a
&c. per ID. Flour remained dull. Wheat was
nominal and corn about steady.
THE EXPORTS OF THE WEEK.
The total exports OF domestic merchandise from
the port OF New York for the week ending March
Is, 1873, were of the currency value OF 81 2l3
THE FOREIGN MARKET
The London quotations show continued steadi-
ness in consols The market for United States
bonds has been excessively dull for several days,
and prices have remained unchanged, excepting
for the ten-forties, which came u lower. Erie
shares were weak and declined to 5215. The new
French loan was steady but rentes in Paris under
went considerable fall to 55.35, possibly In con-
sequence Of the conve nton with Prussia to pay off
the whole of the war indemnity by September next
MONEY MORE ACTIVE
Money worked moderately easy most Of the day
at an average OF pretty nearly the familiar 1872 the
rate ranging from per cent coin with exceptions
at 7 per cent currency to l-32 and interest. But
in the half hour before the closing OF the banks
sharp demand set in which sent the rateup to 1-l8
and interest, the dealings being continued on the
sidewalk for some time subsequent to three O'Clock.
In explanation it was said that the Fourth National
Bank and the Bank OF Commerce had called in be.
tween one and two millions of dollars for
REASONS NOT SPECIFIED.
At first 1t was cOnjectured that the money might
have been called in by the Treasury Department,
as the two banks named are special government
repositories, but 1t happens that they have no
funds to the credit of the government at present.
From Washington we learn that Judge
Richardson has been using the extra green
backs again. the amount outstanding yester-
aay having been $l,455,O00, and to-day
Sl,27s, 900, against 81 600 Saturday evening.
Foreign exchange was nOminally unchanged, at
1851 100 for prime sixty days and sight sterling;
but the advance in gold and the strlngency In
money weakened the market, and actuai transac-
lions were reported at q concession OF BIG a
per cent rom these rates.
GOLD UNsHTTLED-l15h 115I A 115k.
The gold market was unsettled and IN the main
0wer Before the activity in money further ad-
vance to 1863 was made, the market being
strengthened by the smaller return OF exports las
given in preceding paragraph and considerable
covering OF speculative sales. With the actual
weakness In foreign exchange the market became
heavy, and the recurrence of dear terms for the
carrying OF gold led to eventfu decline to 115k.
The course of the market L. shown In the table =