The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-14

lsoS coupon, do., INK lis; do. do. 1907 do do.
L6X 1l8X: do. do, 1893 do do., 11Sk 11sx:
do ten-forties. registered. n4x lI5k; do. do.
coupon, rAk llsx; do. nves Of 1881. coupon,
rHs FOREIGN xARkr.
There have been no features connected with the
foreign market during tue past week influential in
character upon American capital beyond the de-
cline in Erie ON Saturday and q reduction In the
bank rate from TO per cent. There are facts
connected with English mintage, however, that
arc worthy OF record. The Deputy Master OF the
Mint states that there has been an extraordinary
and unceasing demand for ali denominations Of
gold. silver and bronze COIN" AS q consequence
OF this demand the coinage executed by the Mint
which In the last report was stated to be very
much In excess OF that Of previous years, has IN
1877 far exceeded that Of 1871. An idea of the i'm
mense amount Of coming performed last year may
be gathered rom the statement OF the weight OF
metal issued for conversion into coins. No
less than lls tons OF gold, 1877 Of silver and ia
Of bronze were supplied to the Mint, and from
this enormous mass OF metal coins OF thirteen diff
ferent denominations were struck, representing
nearly sixteen and half millions OF money. This
sum comprised 81, ,04S pieces, OF which nearly
seventeen millions were OF gold, twenty millions
eight hundred thousand or whereabouts OF silver,
and the remainder OF bronze The value OF the
gold coinage amounted to upwards OF f1h0O0,00o,
OF the silver upwards OF &l, 1850, 600, and Of the
bronze to something under ESQ Ooo In 1871 the gold
coined was valued at f1o SOo,O 600, which was con-
sidered an extremely large issue OF coin, the pre-
vious yearly average having been 26 900; but in
the past year tho gold money produced by the
Mint has exceeded the issue OF 1871 By sum but
little short OF the average coinage Of former years.
Indeed, the coinage OF gold has gone on uninter-
ruptediy Tor tho last eighteen months, having been
begun In September, 1871, and concluded only In
the course Of last month, and has, no doubt, real
lied the amount anticipated-viz, f24 900, 000-the
whole Of which, with the exception OF sum OF
f2O0O, 900 transmitted to Germany, appears, &C
cording to the report, ITO have been egitimately
employed both for home and foreign circulation In
the usual manner" similar ABNORMAL demand
for silver money was also experienced In the past
twelve months The report OF the Deputy Master
OF the mint states that the records OF the last f
teen years show a wonderfully rapid rate OF In
crease the issue Of 1867 amounting to f87, 000 and
that Of 1872 to 2972, oOO
RAILROAD BONDS.
II is not strange that railroad bonds are attrac-
tive objects OF speculation. The iron network OF
the country represents 81, 1913 miles, the total re-
cepts OF which last year amounted to about
$50, 10000, an amount greater by $160,000,0 900
than the receipts OF the United States government
for the same time from all sources Of revenue ex-
cept loans Nearly Sos. 900 was paid out in
dividends, and 500 OOo 900 as interest on bonded
debt. The significant fact is stated, that while the
population of the United States In twenty years
has gained 90 per cent The mileage Of railroads has
increased 337 per cent and the gross receipts over
700 per cent. 1t is q reasonable assumption, with
such basis for calculation, that the railroad in
terest Of America, properly managed, win even
tualy become the most profitable source OF wealth
known on this Continent, especially II the system
be administered with that honesty which carries
with Ii the confidence Of the commercial world
IMPORTS AND EXPORTS
The imports for the week amounted to SO, 432, 1885,
OF which s7,6o2,16s represents merchandise and
$LS4O13 represents dry goods On the other
hand, the weekly total Of domestic exports shows
falling OF from $4,000 900 to s. $780, ooo-a decrease
OF about one-third In two months. There are
causes for this which may be discussed hereafter.
There is no cause, however, for a recurrence OF
such influences as have resulted from the undue
importation that has afflicted our country for the
last ten years. Our strength should always be
manifested in q favorable balance abroad and IL
never can be 30 exhibited until our people learn
economy and our merchants are taught that
prudent determination on their part will do much
towards the bringing about Of that financial mil
lennium in which none are more interested than
tn0mSeAV0S Suu luz WAOu suo PooPiC Va OAAA1Ou
States pray.
THE STOCK MARKET.
The change in the Presidency OF Lake Shore
inaugurated movement in stocks that was more
or less favsrably rejected during the week. Rock
Island, Western Union. Northwestern common,
Wabash, Atlantic and Pacific preferred, Union
Pacific Hannibal and st. Joseph. Pacific Mail, C.. O.
and l. G. and other stocks actively participated in
the speculation and II outside orders continue the
present week may witness duplication OF the re-
suits Of that which has just closed. 1t Is an in.
dubitable fact however, that more working capital
Is needed to maintain successful Summer market
As has been already stated, we are about ten mil
lions below the required standard, and the broker
naturally feels unsatisned with what to him are
artificial operations. Prices said to be too high
to invite outsiders at this season, while the heavy
spectators are either absent or holding
stocks for rise. The advance during
the week ranged from to per cent.
New York Central showed an Improvement
from l02X to 1o4H. Harlem gained az per cent.
Erie went from So to 5oX. Lake Shore nuctuated
between 9ek 95x. wabash strengthened from
esx to 7ox. Northwestern was active, AZ prices
ranging between esK and Tx with even better
promise for the future. the stock being gradually
scattered. Rock Island advanced from 1917 to
1l1K. St. Paul was steady on change of about
per cent The best rise was In Atlantic and Pacific
preferred, which showed the influence OF the mar
ket fully s per cent. Union Pacinc was sympa-
thetic to the extent Of per cent. Hannibal and
a<ro and In