The New York herald., 1873-09-09

FINANCIAL and COMMERCIAL.
A Lively Day in Wall Street---BullS
and Bears Fairly at Work.
DECLINE IN PRICE S.
Prospects of Active Business Dur
ing the Week.
THE GOLD MARKET ANIMATED.
THE GOLD MARKET ANIMATED.
MOney Strong and in Good Demand at 7
Per Cent, Currency and Gold.
REPORTED FAILURES.
Southern Securities and What
They Are Worth.
RAILROAD BONDS AND EARNINGS.
WALL STREET,

WALL STREET,
MONDAY, Sept. So p. NJ
On Change to-day wheat was less active. Prime
core ruled firm, under good demand. Oats were
purchased freely for speculative purposes. Cotton
on the spot advanced &c "Futuresn sunered
slight decline
THE FOREIGN MARKET.
According 10 late London advices the foreign
market Is unperturbed by any influences that can
be taken reflex OF the transactions Of this side.
The rate OF discount, however, in open market, for
three months bills. is 3k per cent, or per cent
higher than the rate OF the Bank of England, show
ing hardening tendency in money, and indicat-
ing, likewise the probable action of the Governor
and Board Of Direction at the meeting
on Thursday next. The amount OF bullion
withdrawn from the Bank on balance to-day was
f40,0Oo. French rentes were weaker, the quota
ltiOn being 5Sf. 15c. COnsOls and American securi
ties were firm at the close. The following are the
latest prlces:-COnsOls for money, 92% 92H; con.
sols for account, 921s 92ss; ive-twenty bonds OF
1885, Old, 957s; 1vetwenty bonds OF 1867, 95A ten
forty bonds, sO7i 9OA; new fves, s1h s12s;
Erie Railway shares, AK 472S new French loan,
TX a IA. The fluctuations in Erie to-day were but
tri1ing.
THE MONEY MARKET.
Money continued to show its recent strength,
aud again loaned to-day on call at seven per cent,
currency and gold with exceptional transactions,
born OF the excitement which grew out of reported
failures, at 1872 per diem. The close OF the day,
however showed decline to five and six per cent.
Perhaps the wish is father to the thought,
but an impression prevails that much
larger outflow of currency to the West will
not take place. Hence that stringency will not
come from that source 1t is not to be forgotten,
however. that other depicting influences will be at
work in course OF time, which warrants extreme
caution in making preparations for the winter.
Foreign exchange was steady early in the day at
1O7 q 1919 for prime 60-day bills and 10SH 10SX
for sight. Later an advance took place to 10s3s
1OSH for 6oday sterling and 1091S for demand Con-
cessons were made from these rates.
THE NEW yoPK WAREHOUSE AND SECURITY CON-
Much comment was elected in Wall street and
the vicinity to-day by the prevalent rumors with
reference to the financial difficulties that have
been suddenly encountered by the above institu-
ton. They were whispered as long ago as Friday,
when the late Charles Lamonte-who met an un-
timely end W falling from window Of his resi-
dence on Friday night-informed some Of his
friends that he had ''sold short" of the market IN
anticipation of serious announcement that
would involve the credit Of both individuals and
company; but it was not until to-day that the fact
became pregnant with its iull meaning, and the
consummation $50 frequently delayed until the last
momenD was made public. The circumstances are
more fully detailed in another column; hence they
need be only briefly stated here. 1t appears that
the company above named have loaned money and
credit to various railroad enterprises In the South
west, and that the debtors have been unable to re-
spond according to contract, which, therefore, rem
ders the company unable TO meet other engage
ments nearer home. The capital of the company
is said to be $1,0c0.000, and its business was
to lend its paper on securities. The President is
Mr.. II. A. Johnson the Secretary Mr.. d. b. Bell. Two
OF the most influential members in its directory
are Messrs. Francis Skiddy and Sheppard Candy,
both OF whose names banded about the
street in connection with reports OF failure and
suspension. Such reports however, may do injus-
tce to both Of these gentlemen, and until further
proof of the same is adduced 1t will be only honor!
able to Withhold Judgment. Meanwhile a meeting
or the creditors Is appointed Tor Thursday, when
more light will doubtless be thrown upon the mat
ter. The effect OF the announcement on the Stock
Exchange was only temporary. 1t Is understood
that the Warehouse and Security Company ask
for an extension OF time, and believe they will yet
come out all right.
GOVERNMENT BONDS.
The course OF these securities was somewhat
irregular, owing to the eccentric movements OF
exchange and the apparent downward tendency of
gold. We quote closing prices offered and asked,
q 49, do fve-twenties, coupon, 1862 ia a IFS;
do. do, 1864. ia us; do. skies, hve-twenties,
coupon. 1865, lis a 1l61s; do tenforties, coupon,
liz 113; new fves, 1928 1l3; Pacific skies,
113h 1l394 United states fve-twentes, coupon.
1866, 115h 116; do, do new, 1l41l 115; do do,
1s67, 116R at III.
SOUTHERN SECURITIES.
Not much comment Is TO he added to the stereo-
typed condition OF this market which has been re-
ported from day 10 day for weeks past. The only
sales at the Board to-day were OF old. Tennessee
skies at sl1a sharp effort has recently been
made, and is being continued, TO 'bull' the mar
keJ on the strength of the decision OF the supreme
Court OF South Carolina ordering Ajax TO be levied
for the benefit OF certain alleged fraudulent bonds,
TO the end that certain holders OF some OF the new
Issues OF south Carolina may escape from loss.
vast number OF people have been swinded In New
YORK by these securities not few OF
whom are persons who held funds In
trust Tor widows and orphans to say nothing
'oi institutions which reposed faith In the ancient
honor OF the Palmetto State. Unfortunately,
however, this honor Is now in the keeping OF peo-
pie who do not know the meaning OF the word, or,
knowing 1t, have played the role of thieves 1t is at
last discovered that the sum total of public debt
owned by the actual citizens OF South Carolina
does not exceed $250,0OO, and it is intmated that
the party In power are now anxious that effort
shall be made through an extra session OF the
Legislature to scale the debt and evade the collec.
ton Of the tax that has been judicially imposed
The reason given Is that these carpet-baggers and
would-be legislators have ascertained-and the
fact is undoubtedly true-that the collection OF
such a tax would prove fatal to the dominant po-
litca party in South Carolina inasmuch as 1t would
bring home to the negro voters (many Of whom
now possess lands) their interest in the economical
and honest management Of the State government
The history OF Southern finances has yet to be
written, and, when 1t appears, no state will show