The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-19
FINANCIAL and COMMERCIAL.
Money Scarcer and the Rates
on Call Bearer.
THE AVERAGE l-32 AND INTEREST.
Money in London Easier and For
eign Exchange Weaker.
THE GOLD CLIQUE MAKE "A TURN"
The Price Run Up to la 7-8 and
Down to Ia IL.
DULL DAY AT The STOCK EXCHANGE.
Rise in Western. Union and a
Fall in Erie.
"A Legislative Overhauling
Of Erie Affairs.
Meeting Of North Carolina Bondholders-Ten-
nessee Ronda and the New Issues Of
the Bank of Tennessee.
DULL DAY At The STOCK EXCHANGE.
Rise in Western. Union and a
Fall in Erie.
"A Legislative Overhauling
of Erie Affairs.
Meeting Of North Carolina Bondholders-Ten-
nessee Bonds and the New Issues Of
the Bank of Tennessee
WALL STREET,

TUESDAY, Feb. 1892. MI
On 'Change to-day cotton was dull and more or
less nominal. Flour remained dull. Wheat was
nOminally lower and corn was very quiet but
about steady.
THE EXPORTS OF THE WEEK.
The total exports OF domestic merchandise from
the port of New York during the week ending Feb
ruary 49, 1873, of the specie value of GAL $780,
THE FOREIGN MARKET.
The London quotations to-day were firm for
cOnsols and irregular for United States bonds the
'67's having declined q and the ten-fortes q and
the new nves having advanced q per cent.
Money In the open market was quoted as lending
at "a per cent on consols Erie shares were active
and advanced to 524, closing at 526, equivalent
in our currency to about 651k.
MONEY STRINGENT.
The money market was more stringent and at
times during the day fairly earned the designation
OF stringent. Among the government dealers the
rate ranged from currency to gOld the lenders
being parties who make 1t rule to accept no
other cOllaterals tnan government bonds. But
among the stock brokers the rate ranged from 1-64
to 1-16, in addition to per cent, the average Of
the days business having been 1-32 and interest,
equivalent to about 1s1a per cent per annum.
These extravagant terms were paid quite as mat
ter OF course throughout the day, SO accustomed
has the street become to this
UNREASONABLE CONDITION
of the money market the only relaxation occur
ring quite close upon three O'Clock, when some
loans ere made at as low as per cent CON- as If
some parties had overborrowed early In the day or
had been waiting for a severer pinch than
Lie. Accounts, however, had been made up
quite early, commencing with the rate of 1872
in the forenoon. Mercantile paper continues
neglected and nominal The foreign exchange
market was steady IN the forenoon and weak in
the afternoon, when prime sixty-day sterling was
lowered to 1O9 sight bills being already down to-
ITO. Sales of both kinds were made at 1882. and
1097S, but not to any important extent, the Dor
rOwed bills having been absorbed and few Few ones
being offered.
GOLD LowER-1i47S 114}s.
1t was day OF realization on the part Of the
gold clique, who opened the gold market strong
and advanced the price 10 1l47s as preliminary
- ceiling, which they commenced under the cover
"">---- "~'on Their offerings carried
vi 'iis curry diVe,e--~ "n" movement is
VIC pioe uonp " lay lhe 'pu.. - ''irue
not regarded as abandoned, because the s.f- e.
have by no means sn""~-
renntoA - -..oeued in marketing Inc.
..~u extennsive holding, but the opportunity OF
making - turnn was thought favorable, especially
as the
HEAVY RUN OF EXPORTS
for the week is temporarily adverse to IN advance
in the premium, while a lower standard OF quota
tions will be better preparation against the sale
OF the million and half OF government gold to be
disposed OF on Thursday The Sub-Treasury paid
out $50 900 on account OF interest and $4,000
count OF redeemed five-twenties. The course or
the market is shown in the table,