The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-05
FINANCIAL and COMMERCIAL.
A More Active Inquiry
for Money.
The Range Of the Rate on Call 6 Per Cent
Per Annum 10 l-l6 Per Diem.
THE AVERAGE z PER CENT COIN.
Reaction, Decline and Depression at
the Stock Exchange.
The Gold Clique Question the Success
of the New Loan.
GOLD HIGHER AND STRONG.
The Stated and the Rumored Prog
ress of the Syndicate.
OUR BONDS BUOYANT IN LONDON.
Government Securities Firm-A Decline in Ten
nessees and Rise in Missouri
Railroad Bonds Advancing.
Tho Gold Clique Question the Success
of the New Loan.
GOLD HIGHER AND STRONG.
The Stated and the Rumored Prog
ress of the Syndicate.
OUR BONDS BUoYANT IN LONDON.
Government Securities Firm-A Decline in Ten
nessees and Rise in Missouris-
Railroad Bonds Advancing.
WALL STREET.


TUESDAY. Feb. 4-0P. M.
On 'Change to-day cotton was quiet and easier
both for "spot'' and culture" Flour was In de-
smand and firm. Wheat was quiet. but also frm
while corn was dull and somewhat weak.
THE EXPORTS OF THE WEEK.
The total exports OF domestic merchandise from
the port of New York for the week ending February
f. 1873, were Of the currency value Of $56ll,7oo.
THB SYNDICATE NEGOTIATIONS.
The Syndicate opened the books this morning for
the reception of subscriptions to the new five per
cent loan OF the United States and received vast
number from out of town banks and bankers The
books were also
OPENED IN EUROPE,
but the progress OF the negotiation there has not
been reported beyond in a general way, to the
effect that it encourages belief In its complete
success A rumor prevailed on Wall street late
this afternoon that odays subscriptions amounted
to but it could not be traced to reliable
authority
THE FOREIGN MARKET.
Tho London quotations came about steady for
econs0ls and strong and higher for the '67's and
NEW hves The former advanced 4 and the latter
n per cent. On the other hand, the ten-forties re-
coded y. Erie shares opened at Jump to SAX, but
gradually declined to SAY. The new French loan
was quoted at premium Of ca per cent
MONEY ACTIVE.
The money market was more active, with an ad-
vance In the rate on call to the exceptional ex-
treme of 1-16 per cent. The early business Of the
day was at per cent coin, with moderate
amount OF transactions at plain per cent on
stocks and an occasional transaction at per cent
on government securities. BY the time the crowd
had collected on the sidewalk the rate had ad-
-vanced to gold 1872. Later on l-32 and interest
was Did, upon which some
FRIGHTENED BORROWERS
supplied themselves at lie. But the quotation
CLOSED eventually at q coin per cent. During
this activity money was offered abundantly ct per
cent for thirty to sixty days for bonus of u u
per cent. Prime commercial paper was quoted q
8 per cent discount. Foreign exchange was steady
GOLD sTBONG-112X 1881.
The gold market opened weak and fell on to
,1l2X on the general belief in the success OF the
Syndicate in negotiating the new loan. But the
absence Of definite particulars as to the extent OF
the DAYS subscriptions encouraged the gold clique
In q fresh turn OF the windlass, by which they
raised the price to 113H, their confident bearing
tntimidating quite number OF the ''shorts," who,
IN their alarm at what would be the consequences
of failure of the Syndicate, covered their con-
tracts in not haste. The 'short" interest having
been quite large, In anticipation Of the success Of
the negotiation Of the new five per cents, the
.sccpticism OF the clique found o bread field on
which to saw their ridicule Of the Syndicate. The
courae nj rho ms Of ia shown In the table -