The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-05
Anticipated Raising Of the Bank Of England
RS.te and Fluctuations in Oonsols.
Lon don Operators Going ''Short"
Of American Gold.
n RISE AND REACTION IN STOCKS.
Advance in Foreign Exchange Government
Bonds Buoyant-Falling or in tho Dry
Goods Imports-A Yankee Clique in
the London Stock Market
WALL STREET,

y
ON sChange to-day cotton on the spot was
neglected and nominal, while futures were mode
rately active and shade hrmer. Flour was dull,
wheat was also dull, and corn was quiet but not
essentially changed in price.
THE DRY GOODS IMPORTS.
The total imports Of foreign dry goods at the
port OF New York during the past week were Of the
specie value OF 81, TO-, 900, The amount marketed
during the same period was $2,27S,S5o. These
Agures are reflection Of the tragic accident to the
steamer Atlantic, the loss OF whose Cargo appears
In the above diminished importation OF foreign
THE FOREIGN MARKET.
The London market was unsettled by rumors
Il that the Bank OF England rate of discount would
be raised tomorrow, and consols and United States
bonds declined, the former u and the latter u
per cent. subsequently consols recovered, and
closed strong, as II the apprehension excited by
this rumor had been quieted by the intelligence
from this side OF the Atlantic OF the advance in
sterling bills. the whole disturbance having doubt
tess originated in the tendency Of specie to leave
London for New York. 1t is
SIGNIFICANT,
However, that the difference between consols for
money and those for the account next settling
day being in the first week in May, which was u
this morning, Is only tonight. Yet we are ad-
vised by cable that three mon this bills were quoted
only ~ per cent discount. In this closing recov-
cry our bonds did not participate, but they left or
steady. The amount Of bullion withdrawn from
she Bank OF England on balances to-day was
El7O,ooO Erie shares were weak and declined to
bO,s. The new French loan was steady and rentes
In Paris were strong, closing at SO.
GOSSIP THE LONDON MONEY MARKET
The following paragraphs are from the London
Weekly Circular OF March 22:-
There Is rumor that q syndicate has been
formed after the New York model for specializing
on our Stock Exchange, with capital Of CT 600 600,
andtdrected by some OF the daring flnanciers who
conducted the operations which ended in the col.
ment but the field is SO inviting that some men of
business have long considered 1t probable that
such an enterprise would be undertaken It is well
strive to repair instead Of merely to hide. It is
undeniabe that the almost exclusive gold basis on
which the pyramid of business is conducted has
rendered the London money market peculiarly
sensitive--more sensitive than even that of New
dency to ALARM and given the means Of exerting
the feeling, SPECTATORS may work with great profit
TOO high. What a Combination such as indicated
would be likely to attempt first Is TO lead the public
into Freely neepng nnsaa IN the rise
turn would be sudden, the sales enormous accom-
panied, to produce the terror, with heavy with
drawals Of gold from the bank. The Syndicate
is said to possess f7, 600 600 sterling, which would
give great power and controlling, as it doubtless
Of spreading alarming and false news, it might In
Upire panicy feeling particularly there was any
night see stocks ana shares Knocked about in
1hreadneedle street as they sometimes are In Wall
street.
continues to exert an evil influence on business.
Stocks to q heavy amount are carried for the Wall
English, but the failure OF considerable operator
has inspired caution and there Is SEINE 9neasiness
6tates at large is In alhealthy condition.
MONEY EASIER
The money market was decidedly easier, and the
cate on call underwent o gradual decline from X
and interest to per cent coin. The average rate
Of the day was between Il and 3-16 per cent. BY
ehree O'Clock the quotation had fallen to l-I8
- per cent, and before the adjournment Of side
walk business, which occurred about twenty min
1tes later money was offered at lie and loaned at
J coin. There was iultner contraction to-day Of
she outstanding extra greenbacks to the extent
Of $4,000. The buyers OF the government gold
sold yesterday took out 100000 of it this after.
noon, giving in payment 100000 legal tenders
md the remainder in national bank notes.
ADVANCE IN FOREIGN EXCHANGE
The foreign exchange market was weak at the
start and rates were lowered further u per cent
bat with the rumors from London and the subse-
Quent relaxation in money the market strength.
ened to 1917 and 1881 for prime sterling, with
actual business pretty close upon these rates, the
demand being fairly active for Saturdays mail.
the following shows the revised standard of quota
t0ns: STERLING, sixty days. commercial, JOG 1O7;
DO, good to prime bankers. 1o7 l07h; do, short
sight, 107X 1851; Paris, sixty days, 5.S7h 5.31k;
Ao., short sight, 6.2116 5.26K; Prussian thaers,
fok Il; antwerp. 5.37h 5.3lx; Switzerland
Aas 5.alK; Hamburg, o31s o4lS; Amsterdam,
az 3s%; Frankfort, 4ok 4oX; Bremen, s31S q
e4k.
THE RAILROAD BONDS
Tie railroad bonds were quiet and firm. The
principal business was in the Erie mortgages and
Uniol Pacincs. The following were the BIDS at the
regular call, as amended by prices In subsequent
dealinrs:-
New ok Cen C,s 1881. 81 cbiotNw,, %
New Noh Cen Gkr re-. SO Ian {, y ceoIu Dus. ~
New yori cen s ~ 10y pei Lack West I'd m. "a
tre r.. SEX Toi d Wab 2dm scoh.' y y