The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-12
FINANCIAL and COMMERCIAL.
Continuance Of the Relaxation in
the Money Market.
The Average of the Rate on Call
Seven Per Cent.
DECLINE I'm FOREIGN EXCHANGE.
Weakness Of the Gold Market and
Lower Range Of the Premium.
The Specie Shipment Nearly
100000.
A GOOD BANK STATEMENT.
The Surplus Reserve Not Far
from IS, 100000.
GOVERNMENTS DULL AND LOWER.
A Feverish and Irregular Market at
the Stock Exchange.
Rise and Reaction in New York Central
Further Advance in Western Union
Telegraph-A Decline in
The Surplus Reserve Not Far
from IS, 100000.
GOVERNMENTS DULL AND LOWER
A Feverish and Irregular Market al
the Stock Exchange.
A Rise and Reaction in New York Central
Further Advance in Western Union
Telegraph Decline in
Erie and st. Paul.
WALL STREET.


SATURDAY. Jan. 11-6 p. M.
On Change to-day cotton was quiet and weak,
but prices showed no decided change. The re-
ceipts at the ports aggregate 14,773 bales. Flour
was quiet but firmly held, while the market for
wheat and corn ruled dull and nominally easier.
THE IMPORTS OF THE WEEK.
The total imports OF foreign merchandise at this
port during the past week were $5,34s,1 LOG, made
mp OF $l,562,47S OF dry goods and $3 7S5.62s Of
general merchandise.
THE COTTON MOVEMENT.
The total receipts Of cotton ut all the ports for
the past week 1873, 1856 bales, against 104 7o3
September l, 1872, are 1,s6s, 1856 bales, against
1911 49S for the period Of last year, showing
an increase in
THE PRESENT CROP
OF 2o 1888 bales. The exports from all the ports for
the week were log, 032 bales, against 49, 124 last
year. The total exports for the expired portion OF
the cotton year 1Oos,35l bales, against s2l ls9
last year. The stock at all the ports is 497,s25
bales, against 1896 sos for same date in 1872.
MONEY EASIER.
The money market was easier and the rate on
call ranged from 1-64 and interest down to per
cent. AS the 1-64 commission" was paid for the
two days to Monday the extreme rate was less
than 10 per cent per annum. The bulk OF business
was at a coin on stocks and at a per cent
on government conaterals. Commercial paper
was quoted q II per cent discount for prime
names
FOREIGN EXCHANGE LOWER.
The easier tone of the English money market and
the advances in gold here combined to make freer
exports OF cotton, the bills drawn against which
have entered into competition with the bankers
rates, with the Eject OF weakening them. Prime
sterling u lower. The following shows the new
standard OF saes:-Sterling sixty days, com.
mercial 1881 1o9H; do, good to prime bankers,
1O95< 109K; do, short sight, 1lo< 1lO}s; Paris
sixty days. 5.26l4 5.22h do, short sight, 5lSb
6.1sh Prussian thalers, TX 72k; Antwerp 5.23A
a51Sz; Switzerland, 5.23s1 6.lSA Hamburg, 95H
a 96K; Amsterdam, 4Oz a 40%; Frankfort, Al a
E% Bremen, 95H 9614.
TIE BANK STATEMENT.
The weekly statement OF the associated banks is
again quite favorable, the reserves being strength
ened by the acquisition OF three millions OF specie,
rejecting the continued disbursements Of the Treas
ury in payment OF the January interest on the pub
hc debt. The item OF specie Is really smaller, how
ever, than represented, as the average has been
falling one for the week account OF the exports
of coin to Europe. Anticipation Of loss Of
sources from this outflow seems to have impeled
tie banks to contract their loans, although it is
possible the decrease may be due to liquidation of
MATURING CREDITS,
particularly as the dulness at the Stock Exchange
has necessitated less recourse to the banks from
the stockholders. The legal tenders are down a
nttle-about a quarter OF a million-despte the
movement OF currency towards New York, the re-
suit, probably, of feeble effort to lock them up for
eject on the money market. The deposits are up
over three and half millions in face OF the con-
traction OF loans. that the receipts of currency
from the interior have been fully the amount Of
this
CONTR ACTION