The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-25
FINANCIAL and COMMERCIAL.
Recurrence Of Activity in the
Money Market.
THE CLOSING RATE 1872 PER CENT.
Explanation of the In
creased Demand.
Progress of the Speculation in
the Gold Market.
A FURTHER ADVANCE TO Ia IA.
Remarkable Rise in Govern
ment Securities.
Ehe New Five Per Cents Rampant at
Home and in London.
.AN ADVANCE IN ERIE SHARES.
Remarkable Rise in Govern.
ment Securities.
The New Five Per Cents Rampant at
Home and in London.
AN ADVANCE I'M ERIE SHARES.
A Day Of Realization at the
Stock Exchange.
WALL STREET.

FRIDAY, Jan. 24-6 p. M.
On Change to-day "spotv cotton was only In
moderate Demand but advanced NC. per h., while
far future delivery the market was active at an adj.
vance OF from &c. 3-1Gc. per h. Flour was less
active but firm. Wheat quiet and a shade
.ssasier to sell, while corn was steady and in mo-
1derately fair demand.
THE GOODS IMPORTS
The total imports OF foreign dry goods at the port
of New York, for the week ending January 3D. 1873
were $4,36 500. The amount marketed during the
same period was $3,476,655.
The Custom House return Of imports of other
merchandise is not due until tomorrow Mean
time an estimate fixes the amount at over six mil
aions so that the total imports of foreign goods for
the week will probably reach the vicinity of
-$10,5OO,O0O.
THE FOREIGN MARKET
The London quotations show a sharp advance in
Unrted states five per cents both ten-forttes and
the new bonds the latter rising to co., exclusive
OF the February coupon, equivalent to pretty
nearly par The advance is ascribed to deliberate
urging Of the market by the firms composing the
Syndcates, the transactions being attended with
considerable activity and excitement The six per
cents or fve-twenties come q better. and consols
firm. with very little difference between cash ana
account prices Erie shares advanced to 81, but
closed at reaction to sos, equivalent in our cur
rency to 63%. French rentes were lower at "a,
Hessbly on account of loss of 100000 francs in
the specie account Of the Bank OF France for the
past week.
MONEY ACTIVE.
The money market was easy and steady at
per cent up to as late as half-past two O'Clock,
eeod deal Of business being done stock collater
AIS at the lower rate, which among the government
houses was rather the prevailing than the excep-
'tionai rate. In the remainder OF the interval to
the close OF banking hours a sudden scarcity was
developed, the cons sequence in great part of the
larger volume Of business and advanced quotations
at the Stock Exchange, and the rate IN Sidewalk
dealings advanced to coin and currency plus
64 to l-s2 per cent In explanation OF the activity
thus precipitaied 1t Is said that money has been
going
BACK AGAIN TO CHICAGO,
where exchange on New York Is at a discount SUM-
cient to call money in that direction, the course Of
the renux so unusual at this season not being ac-
counted for except by the general assertion that
the local monetary wants OF Chicago have not only
interrupted the periodical flow OF money to the
East, but have made o demand upon balances
already here At the same time the reserve Of our
city banks has been impaired by heavy loss OF
specie this week on account OF the specie shipments
gone and engaged to CO. and the drain OF coin into
the treasury to pay for the customs on another
10y '"'Po''""oh vi iViViSh BVouo' ShuoA
these circumstances an
UNAVOIDABLE BANK STATEMENT
tomorrow Is looked for, although from the system
OF averages the actual diminuton OF the resources
Of the banks may not be fully revealed therein.
In mercantile circles money was reported steady,
Iand fair demand for prime commercial paper was
noted at a per cent, with the quotations rang
ing as before-fron to 10 per cent. Foreign ex.
change was weak. although nominally unchanged.