The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-05-13
,e Jan. /. $3.50, 7o9, $50 s163, 3ls, s2l s163, .

Since Jan. $780, 7o9 100 s163 s2l $685. 225,177
THE FOREIGN MARKET.
The agitation arising out OF the panic at Vienna
caused further weakness in securities at London
this forenoon, consols going of q per cent and
United States bonds II u per cent. Later In the
day, or as soon as it was apparent that the drec-
tors OF the Bank OF England did not deem 1t neces
Bary to make any further advance in the discount
rate,
SMART REACTION
ensued, consols rising u u per cent and winding
up active and strong. while our bonds recovered to
Saturdays prices. The news from the Continent,
and from Vienna in particular, is quite meagre.
The cause OF the panic is as yet unexplained.
From Hamburg we have word that the Bank Of
Hamburg has raised the discount rate to 66 per
cent. Advantage was taken of the excitement in
London to depress
ERIE SHARES
on behalf of the ''bearn clique in New York, and
the price was knocked down to AN, but rallied to
As at the close The quotation 47s is equivalent to
about 61h Tor rather was before gold declined).
We can attribute something OF the fall to the
mored revival OF the scheme to lease the Atlantic
and Great Western to Erie on terms which WILL OF
course, be most favorable to the former; but such
an influence would have less effect in London than
1t would in the New York market. The new French
loan was lower at "a per cent premium to which,
for the sake Of comparison, must be added the
quarterly interest, the quotation being ex interest.
In Paris rentes were better at $40, onering
another sign of the regeneration this evening from
the first depression caused by
THE EVENTS IN VIENNA.
1t will be seen by our special London cable re-
port that the shrinkage OF values on the Vienna
Bourse was estimated at one hundred millions OF
dollars, and tnat the decline in American securi-
ties represented total depreciation OF about ten
million dollars. This last phase OF the panic must
have been confined to American railroad bonds or
obscure securities OF a miscellaneous nature, for
the percentage OF decline in United States bonds has
not been sufficient to cause an absolute deprecia-
ton OF more than one or two millions, even If we
spread the fractional decline over the entire one
thousand millions of our national obligations
known to be held in all Europe. Dispatches re-
ceived in Wall street this evening say that the open
street rate for money in Vienna is 10 II per cent
against per cent at bank.
MONEY EASY But UNSETTLED.
The money market was easy during the greater
part OF the day. but the changing OF loans incident
to the recent mutations Ia the prices OF stocks
caused more active inquiry toward the close OF
banking hours, when the rate on call, which had
been a per cent, touched : per cent gold tenn
porary, recedng by three O'Clock to per cent
and subsequently TO per cent. Mercantile paper
was quoted 10 per cent discount for actual
business in the several grades OF what is generally
Jassed as prime paper The outstanding extra
greenbacks amount to s1,0s1, 900.
Foreign exchange was steady on the basis OF
losx 1881 for prime bankers sixty day sterling
The sigh. rate was firm at 1097S, and one leading
house confessed their unwillingness to draw by
raising thelr rate to no.
GOLD LowER-11s4 1172S.
The gold market was weak under further sales
by the clique, to whom all this Vienna excitement
has been most fortuitous accident. Hence it
was that, while the rank and file OF the Gold Room
we're flashing themselves into fresh fever over
the news from Europe lhe clique were selling as
fast as the market would receive their gold the
consequence being decline from lls4 TO l1776.