The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-29
FINANCIAL and COMMERCIAL.
The Money Market a Shade Easier,
but Still Unsettled.
The Rate On Call Ranges from 1882
& to 5 Per Cent.
FURTHER DECLINE IN FOREIGN EXCHANGE.
Gold Strong and Higher Under
Clique Manipulation.
GOVERNMENT BONDS IRREGULAR.
The Five.Twenties and Ten-Forties Strap.s
and the New Elves Lower.
ACTIVITY IN RAILROAD BoNy IS
Stocks Dull and Dropping, with a; Rail-,
at the Close.
REPORTED CORNER" In &C. C, AND L.C,
GOVERNMENT BONDS IRREGULAR.
The Five-Twenties and Ten-Forties Strop.s
and the New Fives Lower.
ACTIVITY I'M RAILROAD BoMy IS,
Stocks Dull and Dropping, with a. Rally
at the Close.
REPORTED CORNER" In &C. c, AND Imp
WALL . STREET,

WALL. STREET.
TUESDAY, Jan. N-6 p. M
On Change to-day cotton was 10. active demand
Sor lots on the spot and to arrive and prices were
&c. per ID better Flour was quiet but steady
Wheat was duh and nominal While corn was In
moderate demand and about ST lady,
THE EXPORTS 5VR WEEK
The total exports of domestic merchandise from
che port Of New York for the'week ending January
~ 1879, were Of the currency value OF s. ss6S19.
THE FOREIGN MARKET.
The London quotations show steadiness In con-
sos ana armness in United States securities, the
ten-forties coming 92x and the new aves o. Erie
shares have been strong and probably active, with
an advance OF one per cent for the day-viz to
Nx-equivalent in our currency to e42, taking
sight exchange at l101 and gold at 1884, The new
french loan Us at premium OF AZ per cent which
includes the nearly matured six months interest
Of az per cent French rentes were higher at
SA42
The money market was easier, but was again
irregular, the tendency being, however, rather in
favor OF borFOwers-that is, the highest rate of the
day was 1872 per cent nat against 1-64 and interest
on Monday. The early rate for loans on stocks to
good houses was at per cent but before one O'Clock
borrowers paid per cent coin, the rate hard.
ening to l-s2 by quarter past two O'Clock. After
that period the supply increased, and before the
close Of dealings on the sidewalk loans were made
~ as low as per cent, with more money offered
on the same terms. On government collaterals
the rate was uniformly quoted at per cent
Commercial paper was steady at q per cent dis
count ter prime names.
FOREIGN EXCHANGE LOWER.
The foreign exchanges were heavy under a bet
Ger supply OF bills, and rates again declined The
low rates for money In Europe are stimulating
loans OF bills to borrowers stock coaterals the
parties being those already conspicuous for similar
transactions within the past few years. Sales OF
prime sixty-day sterling were reported at lOoL
The following shows the revised standard of
Quotations:-Sterling, sixty days. commercial
1os% 100; do, good to prime bankers, I091I
1929; do, short sight, l1O1s 11o% Paris, sixty
days, 5.2sX 6.24n; do, short sight, $40 519h;
Prussan thalers, Tx ~; Antwerp, 525 $40;
Switzerland, 5.25 $50; Hamburg, s5H 90;
Amsterdam, 40k 40ss; Frankfort, 40x Az;
Bremen, 05'S a 90.
FINANCIAL MATTERS IN CONGRESS.
washington telegram to Wall street news
bureau states that at a meeting OF the Banking
and Currency Committee to-day a resolution was
adopted directing the subcommittee on specie
payments to report measures for
First-The redemption of Treasury notes in coin |
After May l, 1874
Seoo,d-AuthorIzing the Secretary Of the Trea.
sury to issue bonds bearing gold interest not to
exceed six per cent, to be exchanged for coin in
case It Ks needed-<or redemption; and
Thtsd-Free banking under the National Cur |
rency act after the LIST OF July, 1873
GOLD sTRONG-1l3Z A 114I A 1884,
The gold market again presented the anomaly OF |
Increased strength in the face of the further weak.
ness Of the foreign exchange, the explanation Of |
which, in view OF the reputed existence OF CLIQUE
In the market, is not inobvous 1t is indeed, sur.
missed that the advance to-day and the greater
scarcity Of cash gold were intended to be punitive
OF some OF the clique whose faith in higher gold
had been weakened TO such an extent that they
had become perverts to the bearish side OF the
speculation and had both sold out and sold short.
The course or the market is SHOWN In the table,
anIn EI ucrIr ArIoNc crc