The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-03
GOVERNMENTS LOWER on THIS SIDE.
An Increase in the Public Debt and an
Explanation Thereof
nuLNEss At the STOCK EXCHANGE.
New York Central ana Western Union Lower
and Pacific Nail and Erie and the
Others Strong and Higher. 9ah.


THURSDAY. Jan. 20 r N.
On Change to-day cotton was In demand ana
&c. per ID. higher for lots on the "spot," but
about steady for cultures" Flour wheat ana
corn were quiet, but firm. eten ata .ba
TIE FOREIGN MARKET.
The London quotations show further improve
ment in United States bonds, the CTS advancing to
e2s<, and some or the other issues rising another
per cent Consols were steady, II not arm.
ERIE SHARES
came q tribe lower at the opening, but subse-
quently recovered and advanced to 60x. The CTS
are now at the highest point they have ever
reached in the foreign market. The Bank OF Eng
land bullion account for the week shows gain Of
fS47, 00O The discount rate remained unaltered
THE PUBLIC DEBT.
The Treasury statement Of the public debt for
the LIST Of January. 1879, shows an increase Of
xl,6S4,307 as compared with the statement OF
December l ultimo. The increase Ia referred to
heavier payments and smaller receipts by the
government the sum Of 81, 900 revenue, known
to have been collected, not having been reported
in time for the present statement. The total coin
in the Treasury Is $74.s59,276, and currency,
SO s76 SIS, against which there outstanding coin
certificates to the amount Of $2s, 90, 900.
The sub-Treasury received offerings OF $22e,2sO
OF fve-twentles ct 111.95 112.11. but refused to
consider the prices asked as below the par and
made no purchases. o~--
MONEY STRINGENT. e.sertGl,
Tie money market was again stringent, and
even those who were willing to allow timely
margin for the effects Of the January disburse-
ments were disappointed at the sl0wness Of the
relaxation. At nrst the market gave promise Of q
return to ease ana the rate on call worked of to
1-1s, but 1t hardened again by three O'Clock, when
}. per cent was freely paid, with dealings at as
high as s-16 and interest before the adjournment
OF the gathering on the sidewalk on
THE JANUARY DIVIDENDS
were literally taken up by their owners to-day,
and Wall street presented a busy scene, owing to
the throng OF uptown people" drawing interest
ut the sub-Treasury, the trust companies, the
banks and other public and private monetary in
situations. The Secretary Of the Treasury has
called In q further instament OF $e2o, 900 Of the
three per cents, interest TO cease February %.
Mercantile paper was nominal and neglected.
Foreign exchange was more active with the lower
ruling OF the gold premium and at first frmer, but
later in the day became easier again. and left of
steady on the basis OF 1921 for sixty-day ster
ling and 1909 for sight bills.
GOLD L0wER-112h A 11I1.
The more copi0us disbursements of coin from
the Sub-Treasury in settlement OF the January in
terest and the advance In our securities In the
London market. to which expectation Of them was
allowed by their easier quotations on this side, in
duced weaker movement in the golH market and
q decline from 1872 to INK. The Sub-Treasury
paid out $735 900 on of interest and $120o
on account of redeemed fvetwenties. The course
- tna m rk ia ahown m the table