, 1873-05-02
MONEY AND COMMERCE.
MONETARY.

MONETARY. ii.
THURSDAY EVENING, May 1.
Tho domana for money in tho local market
>ontfnuea active, md finances woro disturbed
wen moro to-day than yesterday, in consequence
II the sottlomont Of tho May opttonB I'll tho
traln trade. The do1nard for currency to sott1o
,alanccB nt tho Clearing House was 60 great
lint it depressed exchange to 75o per 81 900 dis-
COUNT and got ovon tho banks TINT wore largo
creditors nt tho clearinghouse today wore
afraid to uso their currency to buy exchange, bo-
cause they may bo as1argoly debtors tomorrow.
But, naido from this temporary disturbance
of -. the market, there is an evident
-progross toward all ensier condition. Primo
commercial paper is In domand In the opon mar
ket, md tho supply Of money oiforod by brosors
10 larger than week ngo. There is Il very largo
arnount Of real estate papor In tho market, but
there Is clasB Of lenders who profor 1t to my
other and 1t Is pretty oaslly disposed Of at about
IL per cent.
Tho new Bpor cont bonds nro quoted to-day,
exclusive Of tho quarters interest duo May !, at
III. With gold at 1179s the market valuo Of
tho bonds In gold ia loss than OF conss, while tho
gold valuo Of tho 5-2os Of 1902 Is nbout o714.
Mono Of tho othor 5-2oa aro Abovo par In gold and,
yoars by any rofun1ing achomo, thoro Is no in
ducement to exchange thom for tho por ccnta
ct the name price, or to sell them for tile sake Of
buying tho now bonds, which bear por cont loss
interest per annun. Tho significant hint conos
@ sao a 70 to
proBont time, 1t will not bo necessary to Bcnd
any more Of the now 8 per cents to Europe for q
long time. This does not indicate any very bril-
liant BucooBa on tho part Of tho Syndicate, and
mt l1u
result of tho cal for $4,000 900 OF 1862s, to DO
redeemed in coin on Juno /, and to what oxtont
Tho Syndicate haye boon able to mako exchanges
Of bonds.
THE ALABAMA c1A1sfs,
Some npprohenHton8 nro entertained in Lon
don re- to tho possible offoct on tho money mar
ket OF the payment Of the Alabama claims. By
tho terms Of tho Washington Treaty, England
Is obliged to pay on a specified day in septom-
Der, to the officers of tho United Btates Troaerry
at Washington, s15,500, 900 in gold coin. II tho
stipulatio1s Of tho Treaty arc literally complied
over -E9,o0o,o0o Of spocio from the Bank of
England some timo in August. The condl-
tion Of the bank Is better now than IT
ts likely to bc in August, and 1t is fearod
would 80 change tho ratio botween tho cash
funds and the liabilities of tho bank that tho Di-
reetors would foel bound to act in accordance
with their rule il such Cases, and advance tho
rate OF discount or ror cent This change in
tho ratio Of interoat ID London, Or ovon tho an
tlctpation Of It, would probnbly have an unfa-
vorab1a effect upon American securitios In that
market, and calso considerable depression in
the interim between tho time 1t WAS drawn from
tho Bank OF England and tho time Il could be
paid into, and como out OF, tho United States
Treasury In my way to favorably affect tho
money market on this side the water. The
London Times proposes that tho amount
DO paid in inatallmonts, and it is possible that
the dosre to bring the Government Of tho Unit
ed States to favor this plnn, tho prospects Of
financial disturbances have been little oxag-
gerated.
Tho SECRETARY Of tho Treasury has directed
the Assistant Treasurer at New York to sell
100000 in gold on the first third, and fifth
9orh fHarsas ang Il 81 90 se sn s9 9
e600 600 bonds on tho first, and 9600, 900 on the
third Wednesday, of May, in nll Fl 900, 900. Tho
Secretary has also directed tho payment without
rebnte on and after Monlay, 23th inst, Of the
interest duo on bonds, May l.
Tho Comptroller Of the Currency has just
been dealing with two Bunk Receivers, who,
after closing up tloir duties, h1ed their fees
under some pretended local authority, and ro-,
tained tho amount SO determined. Ono, In
Brooklyn, had paid himself per cont amount
ing in the aggregate to SG8000. Tho Comptro1-
Ter, in both cases, ordered tho Receivers to ray
the whole amount into tho Troasury and await
adjustment Of tho proper foes, md they finn1iy,
to provont tho threatened suit upon thoir bonds,
have complied.
" N1oKNAMEs FOR STOCKS"
a London paper gives . list Of tho nick
names u for prominent stocks On tho Exchange:
"Long names aro inconvenient in Stock liz
change dealings, and similarites between names
are confusing. Securities with long names aro
consequently spoken Of by somo abreviation or
nickname; and, where two or more stocks
have namea with only some email difference be-
tween them, Bome feature or association in ono
Of them often supplies name by which they be-
como known. The 'nicknames' giyen in BONO
instances are not littlo fngenions:: For exam
as 'muttons tho loan being eocured In
part on the sheep tax; Turkish bonds
OF 1869 nre known aR 'Cohens,' hav-
ing been brought out by tho firm Of that
name; and, for d similar roason, FEonoh aix-pcr-
cents are known as 'Morgans:' In several cases
place on their respective lines, as sDoyers' for
southeastern, :'YorkB for Great Northern,
'Leods' for Lancashire d Yorkshiro, 'Der-
wickB for Northeastern, and tDruns' or Blr-
mingham for London d Northwestern. United
States fve-twenty bonds wero commonly called
Green's from the fact Of the first Issue OF these
bonds, now paid of, being colored greon. Eng
liBh and Australian copper shares 60 by tho
name OF smelss,' and British Indian Extension
Telegraph shares are called 'Sngapores." The
lateBt addition to theBo niclnanles ia that Of
Dogs which has been given to Newfoundland
Telegraph shares"
LOCAL BToCK AND BOND MARKET.
Mosers. Lunt, Preston Kcan quote Us fol-
lows this afternoon:
b-9on o! b1.. ......,...-.....-.......114H lax
e-29s o. " ..........................l1 1f4a<
E2os Of IS, Jan. and July. ii71
t-20s Of 81, Jan. and july. .......... .1lDk 11ps<
6-2os Of 't8, Jan. md July. IFS
Ig4os; y :. 1l31