The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-17
FINANCIAL And COMMERCIAL.
THE SITUATION IN VIENNA.
Austrian Bankers Said TO Be in
Critical Condition.
GOLD DOWN TO ll5 3-4.
THE STREET IN A QUANDARY.
M O N e Y e A s Y.
A Dull Day in the Stock
Market.
Speculation Limited, with Gener-
ally Steady Prices.
WALL STREET,
MONDAY, June 16-6 +. NJ.
THE FOREIGN MARKET.

THE FOREIGN MARKET
According TO London advices, the tone of the
foreign market continues steady, the Bank OF Eng
land to-day gaining s2l2oo OF bullion. At four
O'Clock p. NJ cOns0ls were quoted at 92s 92& Tor
money and 92a< 92zS for the account. United
States bonds OF the issue of 1867 sold at 92>s
92k; ten-forties at 500; new fves at S95s
. 500, and Erie at sos 50A Dis
counts were reported easier. The new
French loan was steady ut IS. In Paris rentes
quoted at SCI. &C., ex interest, and at Frank
fort United States bonds OF 1862 were sold ut 95X
The closing prices were unchanged, except in Erie,
which went OF Il per cent. While there is gene-
raj belief that there will soon be a further reduc-
ton In the rate of discount Of the Bank Of Eng
land the fact is not to be lost sight Of that
that institution is at any moment liable
to be entangled in the complications
which may result from the yet unsettled
accounts OF the Vienna Bourse. A writer in
the London Times regards the situation as one Of
great gravity because, instead OF gaining, the pa
tient has been losing strength every day. and has
fallen into a state OF listlessness which is more
alarming than the crisis. The price Of almost all
stocks has gone steadily down in Vienna-f far lower
than it was during the crisis itselt-and the last
advices from London, published in this column,
showed how the reflex action had reached the
English Exchange, and was exhibited in the
ity. At this rate, the writer predicts that "all,
even the strongest, must suffer. The Austrian
banks have large deposits on which the debtors
have not been able to pay up the differ
ence which exists between their present and
former market value, and it is almost duty of
selfpreservaton for these bankers to use every
opportunity to sell these deposits before they are
still further deprecated; but how is confidence to
arise in those who have money to invest are in
clined to speculate II they see the banks doing
nothing but SELF Even the bravesr must become
discouraged, and is not any bank more Of loser
than gamer at each sales Even the most mode
rate offer Of the best shares drives their price
down in the market, 30 that all other deposits in
the possession of all the banks become deprecated
by millions" 1t is possible that in time, with the
cooperation Of the Austrian government, the
difficulty may be bridged over; but II the banks
are at present the holders OF great volume OF de-
precated securities, there having been no healthy
reaction since the panic, then we may look for a
sudden springing Of the financial mine, and ex-
plosion even worse in its consequences than the
Nrst.
GoLD-11e% A 1861.
As was remarked by blue-looking broker to-day,
s.God seems to have the galloping consumption
At any rate, whatever be its disease, the doctors
of the street have failed to diagnose the malady,
and are as much puzzled to-day, with the pulse
beating fevershly at l154, as when 1t was going at
the rate of 11s16. enc will tell you that the clique
have become frightened and are selling out, even
though 1t may entail loss upon them OF half mil
lion OF dollars Another shrewdly surmises
that the present is only an additional act in
the play of the chief operators the recent return
OF one Of whom has ended the waiting process and
set the ball in motion. third, with equal plausi-
bity asserts that, the decline has been forced by
the ring for the sole purpose of buying at the low
est rates the gold that is to be offered this week by
the Secretary of the Treasury. 1t is useless how
ever, to attempt correct solution OF the problem.
for the secret is safely locked in the busy brains
that concocted the plan. The fuctuation in the
price of gold to-day is shown by the following
table,