The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-04
FINANCIAL and COMMERCIAL.
WALL STREET.

WALL STREET. |
TUESDAY, June SOP. NJ
On 'Ohange to-day cotton on the spot" was quiet
but firm, while "futures'' were 10 iair request ~
l-lec Improvement. Flour ru'ea quie' "neat
corn and oats were In fair demand, but at decidedly
Vower prices.
THE FOREIGN MARKET.
Yesterday the German Cover nment was repor Ted
ro be exceedingly dissatisfied with the admir-. @tra-
ZION Of MacMahon. To-day France and E.ngIand
prove their financial nrmness in the face or this re-
psrt by bringing to through the cable the follow
ing dispatches Consols 92x, ex. interest; United
States issues OF 1857 s4x; ten.forties Ss SO new
AYES, 500 o Ss7s; Fries, 49k; and the new French
loan, en- 6h premium. These figures GER
talnly do not portend Q renewal Of difacul-
ties between France and Germany. In these
latter days Of international trade q fraction OF
wealth is more than equal to q volume OF talk.
Diplomacy has kind OF value that finds It's meas
In dollars and cents and 1t evidently requires
something more than q mere telegram, though 1t
may be inspired by Bismarck, to overturn the
existing monetary strength OF France or any other
country. nation which can pay to conqueror
Its tribute by milliards, and which can command
sons and daughters patriotic enough to save one
dollar for their government while making two for
themselves, will never be at fault In any OF its
international relationships. WhyS Because 1t has
achieved credit, and credit Is the backbone OF
Chrstendom.
It may be added that era, 900 were to-day added
70 the bullion In the Bank OF England.
THE MONEY MARKET
All the symptoms-and none are fevertsh or
doubtful-point to an easy Summer market A large
amount OF money was to-day offered on time with
lower rates OF interest, and disposition to supply
capital IN almost unlimited quantity. Prime dis
counts are quoted at 6h to per cent. and call
loans In open market at and per cent. Foreign
exchange was steady, the rates being about the
same a. yesterday, with actual business at 1881
for prime bankers 90 days bills and 109A to 1921
Tor sight.
The receipts from customs to-day were $685., 000
The Assistant Treasurer paid out $153,0o5 on &C
count OF interest and 900 on redemption OF
nve-twenty bonds The Custom House receipts for
the week ending May "a amounted to $2,7O0,00O.
The exports from this port for the week ending
to-day are $5,396,44
GOLD, 117x-117H.
There has been good deal Of the triphammer
business attempted In gold to-day. but without
other result than that which Is recorded above.
The fact that certain parties have assumed the con-
troll OF the market, and are reported to have alb.
s0rbed metaphorical number OF Millions acts like
. Damascus blade, and the lear that the thread
may be cut at any moment deters legitimate action.
~ II DuC ndtura lOr Tue DuS 70 aHecJ Cne DeeI tnat
Secretary Richardson will In thirty or sixty days
be In an uncomfortable position. and that they
should advance train OF apparently reasonable
circumstances leading up to such an event as an
excuse for their policy; but there is present de-
veopment OF facts which gives them substantial sup
port, or warrants the assumption that at any time
during the Summer gold will take to itself value
materially higher than that at which 1t is now
quoted. The Autumn may witness some advance.
but by that time the Secretary Of the Treasury.
maintaining the same shrewd watchfulness over
the market that Is now being exercised, will, in
al probability, be able to check any unhealthy
movement calculated to seriously disturb the gen.
eral market. While it is true that large amount
has already been absorbed by . few parties, it is
equally certain that the latter are not in condi
ton to encounter antagonistic elements and to
make that speculative fight on which they have
probably based their plans for the future. The his
tory Of the movement now in embryo has yet to
be written. The fluctuations Of the market at the