The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-21
FINANCIAL and COMMERCIAL.
Continued Stringency in the
.a aaS Money Market.
TO iioer1sy'l
Average Bate on Call Loans
e a' $50 Per Cent.
STOCKS STRONG BUT UNSETTLED.
r -. .s.,,.::y- -Iy Ut
Western Union Touches 81 3-4 am New
a York Central 104.
a REACTION AT THE CLOSE.
Tho Pacific Hail Subsidy Grant To Be In.
vestigated by Congress.
Decline In Union Pacific Shares
and Income Bonds.
L.ae...l ---,---, --,---->
GOLD DOWN ANOTHER POINT.
= ,s ss,3.. ss,.ss-... :,
rns.;c., $780,: W. CT e
Tho Pacific Hail Subsidy Grant To Be In.
vestigated by Congress.
Decline In Union Pacific Shares
and Income Bonds.
GOLD DOWN ANOTHER POINT.
Foreign Exchange Lower-The Bank Of Eng
XIV land Rate Unchanged-Advance
in Tennessee Bonds.
WALL STREET,

WALL STREET, !
lLl t THURSDAY. Feb. 20-6 p M.
n On 'Change to-day cotton on the spot was
neglected and nominally unchanged, while futures
were quiet and tended somewhat In buyers favor.
Flour and wheat remained dull, while corn was in
moderate demand and about steady.
--fv..r a THE GOVERNMENT GOLD SALE.
The bids for the government gold filed at the
Sub-Treasury were 2e in number, calling for total
Of $S126,00O at prices ranging from ia to 1l463A.
Two bids-oRe Of 114.5o for $l,50O,oo0 and one of
1ll.4O for 81, 500 OOO-were believed to have been
submitted by the pool The sale was confined to
81, 100000 which amount was awarded at 114.51
1lA63X.
Fr THE FOREIGN MARKET.
The London money market was reported still
easier, with per cent as the rate in the open
market. against 81 per cent at the Bank of Eng
land the directors OF which made no alteration
In the minimum OF their terms for discounts. The
bank shows bullion gain Of f273 600 for the week.
ConsOls came firm and United States bonds lower,
the 'er's and new fves having declined "a per cent.
Fries were also u lower, at SIN. The new French
loan advanced to 61s per cent premium and rentes
on Paris to $3.50.
SATURDAY HOLIDAY.
Saturday next, the 22d of February, the anniver-
sary OF Washington's Birthday, is by law legal
NJ holiday, and the banks, Stock Exchange Gold
Board and private banking houses Will be closed.
Mr.. r. d. Tappen, chairman Of the Clearing House
Committee, has sent the following notice and
request to the several banks composing the Clear
ing House Association
SIR-YOu are hereby notified that the Clearing
House will be closed on Saturday, the 22d inst,
that day being legal holiday.
Bank oficers are requested to send in to the
Manager at the usual hour on Friday, the 2lst
inst, their respective statements OF averages for
MONEY STRINGENT.
The money market even more stringent
to-day, and the greater scarcity Of funds was re-
nected In the higher average OF the rate on call
few renewals were made early in the forenoon
at as low as 1852, in addition to per cent;
but the lowest quotable rate in new bust
cess on stock collaterals was lie, and the
bulk OF the days business was at 1882. As the
afternoon advanced and the time arrived for clos
ing accounts borrowers became exceedingly
anxious. and in their urgency to get accommoda-
ton to make up balances at bank as high rs q and
interest freely paid for short spell, and few
transactions were reported at
ir e. r As HIGH AS 3-16 "FLAT"
the last rate being equivalent to about 6sh per
cent per annun, while, according to the same
process OF reckoning the average of the days
business was about "a per cent per annum. The
closing rate was (which continued to be bid to the
papers report an easier money market there, IN
der further arrivals of money from the East, and
also look for further ease account Of an active
movement OF grain in this direction. Meantime
the scarcity here continues to be aggravated by
CLIQUE manipulation. In this connection the bank
statement tomorrow friday VIII be an interest
Ing return. Commercial paper is neglected and
nominal.
FOREIGN EXCHANGE LOWER.
0Uv.A rtrA dv,1
and lower. the leading bankers reducing the sight
rate for sterling further q per cent, to 1929,
while the same grade OF bills were to be had on
the street at 1O9Z and prime sxty-day bills at
10Sx . 1884, The following shows the new
standard of rates:-sterling, sixty days. COM
mercial, 1851 a 1os1a; do good to prime
bankers, 1888 100; do, short sight, 109}4 a
lO9X; Paris, sixty days, 5.2sS 527,s; do, short
sight, 622k 5.1sz; Prussian thaers, II ~; Ant
werp, 6.2Sh q $685.; Switzerland, Sass $685.
Hamburg, OAK 9514 Amsterdam, 40 4o1s; Frank
fort, 40% q Al; Bremen, 94aS a 96z.
if GOVERNMENTS HEAVY.
The government list was dull and heavy and a
shade lower In the gold bearing-issues, outside the
new ayes, which were nominaily firm. The
changes were not OF importance and prices
closed as follows, after quiet day
United States currency skies, 114ss 1147s; do.
skies. 1881, registered, III 1l7h do. do do,
coupon. i1sx 1885 de- five-twenties registered,
May and November, 11j,4 ll5h; do. do, 1862,
coupon, do. 1851 115ss; do. do, 1854, do. do,
l15x q 1l5x; do do, 1866, do. do, 115h ll5a;
dc. do, 1857, registered, January and July, l1414
s114K; do. do, 1866, coupon, de-, 114}4 1l4h ;
do. do. 1867 do. do, 167s ll6h; do. do, 1868,
do. do, ll6K all6ss do. ten.iorties, registered,
n1Ns nlk; do. DO, coupon, ll4A 114's do.
dves OF 1881, registered, 1884 1888 do. do do,
coupon, l13x 1l3x.
ft.rt THE RAILROAD BONDS.
The railroad bonds continued dull bat were
firm. New York Central sxes OF 1885, sold at "a =,
and skies Of 1887, at s2. Boston, Hartford and
Fries. guaranteed, sold at So. Union Pacific land
grants were steady, but the frsts and incomes
declined Il q ~ per cent. The following were
the bids at the call as amended BY prices in sub.