The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-22
The Market Disregards the Syndicate Re-
vival and Recovery in Lon
don Quotations.
A RISE OF two PER CENT IN ERIE.
Advance In Lake Shore anu Rock Island
and Decline in Pacific Mail
and Western Union.
Government Bonds Strong-Southern Securities
Lower-Railroad Bonds Firm-Earn-
ings Of the Erie Railway.
WALL STREET,

r.
On 'Change to-day cotton was in better demand,
and steady for lots on the spot" while FUTURES
were the turn in sellers favor. Flour continued
active and very 1rm. Wheat and corn were IN
better demand and 1rmer.
THE EXPORTS OF THE WEEK.
The total exports OF domestic merchandise from
the port OF New York for the week ending January
q, 1873, were to the currency value OF $4,5S6,3SS
THE FOREIGN MARKET.
The London quotations have been higher and
firm throughout the day. with recovery in consols
OF all that was lost yesterday, fact confrmatory
OF cable dispatches that the relations of England
and Russia are entirely harmonious as to the
khivan question instead Of being unfrendly.
There was further advance in the United States
five per cents, steadiness in the CTS and recovery
in the 65s. Erie shares were active and rose to So
equivalent to 62'l in our currency.
CONGRESS AND THE sYNDICATEs.
Washington advices state that the Ways and
Means Committee announced to the Secretary of
the Treasury that they had no suggestions to make
as to the negotiation OF the new loan, wherefore
the inference was taken that they had no objection
to his proceeding with the refunding Of the debt
through the agency already employed. 1t was SUBJ
sequently reported that Mr.. Boutwell, had accepted
the offer Of the Jay Cooke Syndicate ana still later
I've per cents evenly between the Jay Cooke and
the M0rtdn-Bliss Syndicates.
MONEY UNSETTLED.
The money market was moderately active during
the greater part ofthe day, and gradually hardened
until, in the vicinity OF halfpast two O'Clock bor
rOwers on stock collaterals paid per cent gold
and occasionally 164 In addition to per cent cur.
rency. Before the close OF dealings on the side
walk the rate fell of again to 6a7 per cent, and
some nominal transactions were reported at "a 8
per cent. Among the government dealers the rate
was steady at a per cent throughout the day.
Mercantile paper was easier and quoted q 10 per
cent discount for prime names. Foreign exchange
was firm and quotations unaitered.
GOLD sTRONG-113H A 113T.
The gold market opened weak upon the denial of
the reports Of q misunderstanding between the
governments Of Great Britain and Russia and the
price fell Off to 1884, Here the market took fresh
start, under what appeared very much like clique
manipulation, and advanced to 11SX, but under.
went relapse to 113a as soon as the news was
received that Mr.. Boutwell, had been given carte
blanche to go ahead with the further negotiation OF
the new loan through the agency of the Syndicate.
Toward the close the market reacted to 113% and
wound up strong on the announcement that the
steamer OF tomorrow would takes
SPECIE SHIPMENT
OF $3.50, 900 gold. A portion of the afternoon was
occupied by special session OF the Board at which
the Executive Committee thereof resigned in a
body. 1t seems that since the retirement OF Mr..
Hoyt the Vice President, number of the members
have inaugurated movement to succeed him with
a non-salaried ofIlcer, and intended placing Mr.. w.
b. Bend in nomination for the position this plat
form. This action was regard as infringing upon the
dignity Of the Executive Committee, who intended
nominating Mr.. T. F. b. Parker, Of their own mum.
Der, for the vacant Vice Presidency and hence the
unanimous tender of their designations which
were accepted. This matter has added fresh fuel
to the already excited agitation in the Board over
the question Of resembling the privileges of powers
OF attorney. The course Of the market is shown in
the table,