The New York herald., 1873-11-06
FINANCIAL and COMMERCIAL
THE OUTLOOK TODAY.
Our Banks and Their Standing--ThOughtS
for the Stock Exchange.
Conundrums To BE
Answered.
THE MONEY MARKET.
Railroad Bonds, Governments and
Southern Securities.
/" ~ T D 4 n e Q
q 81 d 1O6 rs.
The Lowest Point for Years The Stock
Market and It's Irregularities.
WALL STREET,

WEDNESDAY, Nov. Sop. NJ.
The influences at work upon the stock market
to-day, although indirect, were suggestive. There
Is no sort OF question that some OF our New York
banks are weak; scarcely able to stand alone; de-
pendent on the Clearing House Association and
the gracious promise that they will be supported
as matter OF monetary policy as long as the pub
lie can be hoodwinked. II honest gamblers were
speaking Of the situation of these banks they
would describe 1t as game OF "blun." Several OF
them have yet to show their hands.
LAKE SHORE AND THE UNION TRUST COMPANY.
Our article OF yesterday, which showed portion
OF the assets OF the Lake Shore Railroad as being
in the possession OF the Union Trust Company, has
0ccasioned very general inquiry on the street.
How much Of said money was loaned? To whom
was it loanedf Where are these assets now2
What speculative use has been made OF themS
What Is ithe real value Of Lake Shore in view of
all It's recent complications forced by the rascality
Of individuals9 What underhanded movements
are now being made to make the stock proftable9
Is there pool at work. We do not propose to
answer these conundrums to-day. but simply invite
attention to the thoughts which they naturally
suggest. There are some further questions with
reference to
NEW YORK CENTRAL
to which an answer is desirable. How does its
outlay compare with its work9 How many of its
$40 900, 600 OF bonds have been sold and where
those which still remain unsold? Does Mr.. Van
derblt as the President retain them in his safe, or
has Mr.. Banker taken them TO Europe9 The latter is
a very important question tothe street. These in
terrogatores recall the thought suggested day
or two ago-to.wit that the Stock Exchange owes
1t to itself to compel fair, honest ana complete
exhibition OF the condition of every company
whose securities are called at the Board and in
which It's members feel direct interest.
We want to know the difference between flesh and
skeletons. We want statements from Western
Union Rock Island, Wabash, Northwestern, Pa :
mama and Pacific Mai, NOT in the shape of white
wash, but OF fact. We desire also to hear from
Erie and Pennsylvania Central. True, the two
concerns last named seem to owe much Of their
strength to the confidence of foreigners, but there
Is enough in the situation to indicate that even
the foreigner is losing faith and step by step
figures are being pounded down notwitn-
standing the best endeavors OF Tom Scott
and Peter II. Watson. Is it not time
that we should apply some of the lessons
of experience, and recall the principles that
underle every safe and fruitful business9 The
Stock Exchange can do much by the adoption Of
new discriminative rule IN the way OF removing
doubt concerning various securities and we be-
neve that 1t would be q healthful innovation. The
public want to know how and where various cor
porations stand from month to month.
THE MONEY MARKET.
Money loaned at e lib and closed at per
cent per diem. The currency market develops no
new notable features. The amount held by the
banks is ABOUT 49, 600 900 in legal tenders Foreign
exchange was dull and lower, closing at 1861 q
1861 for prime bankers sixty days sterling, and
1878 1919 for sight. Commercial bills were very
much depressed selling at 1041a to 10316. There
Is unquestionably scarcity OF money and much
doubt concerning the foreign situation.
THE UNITED STATES TREASURY.
The customs receipts to-day amounted to $500, O0o
The internal revenue receipts amounted to $685. 67
The Assistant Treasurer paid out to-day $500 on
account Of interest and $146,000 in redemption of
$40 bonds. The Treasury balances at the close of
business in Washington to-day were as follows:-
Currency, $4,000. 900; coin, $79,0 900; certificates
$27, 100000 outstanding legal tenders $780, ooo
The customs receipts Tor the week were 250 900.
GOVERNMENT BONDS
closed dull and heavy We quote limited States
skies, 1881, registered, III; do. do, coupon,
113& do. fve-twenties, 1862, coupon, 1867 a
7O7; do. do. 1854, do, 1861 1861 do. do 1865 do
1o7a1 do. do, 1885, do, new, l096 1os2 do. do,
1857, coupons, 111A a 111A; do, 1865, do, 111l4
711h; do.~ten-iorties, registered, 1o5k; do. co
coupon, LOG 107; SIX per cent bonds Pacific Rail-
road, 100 ITO.
EXPORTS.
The total shipments OF produce from this port
for the week ending yesterday amounted to
$5,952,3s5 mixed values, which is decrease from
last week OF $4,000.
The exports for the corresponding period OF the
previous year were $5,470,1O4, and in 1871,
$4,s1ss2e. The total exports of produce since
January !, this year, are $3.50, ,26o,474.
RAILROAD BONDS.
In railroad bonds the largest transactions were
IN the various Union Pacific issues, which were
weak and lower, frsts declining from 10 to 671,
land grants from 57k to 81 and incomes from 43
TO 42. Central Pacincs brought 81. The following
he 1 M