The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-02
FINANCIAL and COMMERCIAL.
Further Stringency and Closing
Relaxation in Money.
Yhs Rate On Gail Touches One Per Cent a Day
and Declines to liz.
THE GOLD SPECULATION HEAVY.
The Market Quieter and the
Premium Lower.
DECLINE IN GOVERNMENT BONDS.
Rumored Intention of the Treasury to Re-
ieve the Money Market.
The Report Denied, but Wall
Street Still Expectant.
A Stubborn Contest Between "BullS" and
"Bears" at the Stock Exchange.
A SHARP ADVANCE IN PRICES.
Rumored Intention of the Treasury to Re-
lieve the Money Market.
The Report Denied, but Wall
Street Still Expectant.
4 Stubborn Contest Between "BnllS" and
"Bears" at the Stock Exchange.
A SHARP ADVANCE IN PRICES.
WALL STREET,


On 'Change to-day spot cotton was neglected and
more or less nominal, while future attracted
siderable attention at decline of &c. a &c. per
pound. Flour continued quiet and unchanged.
Wheat and corn were nOminally steady
THE EXPORTS OF THE WEEK.
The total exports Of domestic merchandise from
the port OF New York to foreign ports during the
week ending April 1873 were Of the currency
value of S. $751; $780, making the total exports since
January l, $64, 1893.
In the statement Of the imports yesterday an
arithmetica error made them $40 00O COO too much.
The right total is $1l3 1872, $40.
THE FOREIGN MARKET.
The liable quotations from London show a re-
covery IN the markets there, consols having I'm.
proved Il, while United States bonds are in some
oases tribe better and in all cases firm. Erie
shares were exceptionally weak and lower at 50H,
but this was before the receipt Of the OF the
closing reaction in the New York market.
THE PUBLIC DEBT
Contrary to the prophecies of few days since
0e public debt statement Of April shows reduc-
uon, the amount Of reduction being sl,64A05a. The
fetal debt, less cash in the Treasury, is now
e2,166, ,64l. The coin in the Treasury Is
$69, 537,376 and the currency ST. $685. The out
standing legal tender circulation is $685. 09O47.
THE MONETARY sTRINGENCY.
The monetary stringency continued as severe as
ever, and the rate on call again ranged as high as
& per cent per annum as a regularly quotable
agure, with one or two exceptional transactions
ut 40 high as per cent day. equivalent to 1866 per
cent per annum The demand lasted nearly an
hour alter three O'Clock, and many accounts were
not made up until Trinity was striking four
O'Clock, to which hour the down-tow banks,
partly by courtesy and partly through policy, have
extended the time for depositors to make good
khoir re Tha ctrtn had
NEW FEATURE
however-that, whereas the demand continued TO
the last moment on Monday, at the highest rate,
the supply increased late in the day, and the rate
had fallen by quarter to four o'clock to as low
Lie and interest. Much OF this was attributed to
rumOrs (but why, the connection Is not exactly
plain) that the Secretary OF the Treasury had de-
cided to remit ten millions Of greenbacks to New
York, to be placed where they would 'do most
g00d.n The rumor found wide credence, although
It was positively denied at the Sub-Treasury, ana
had much to do with imparting firm tone to the
closing temper OF the stock market.
THE RETURN OF MONEY
to the city is already conspicnously important,
and from indices given In the case of two three
downtown banks the amount received the past
two days has not been less than o million OF dol
lara Yhe Secretary Of the Treasury has called in
Tor redemption all the remainder OF the per cents,
amounting to S325, 900, on which interest will
cease May 81, thus cancellng and obliteratng one
Of the many loans sprung Of the civil war and it's
monetary necessities. Commercial paper was en-
nrely nominal. Foreign exchange was lower by
an eighth at the counter, but continued de-
moralized, actual sales OF prime sixty days ster-
ling being reported at 1925 a 1914.
THE RAILROAD BONDS.
The pressure for money led to some disposition
TO sell the railroad bonds and also checked the
adding. The following is the OF the bids at
the board amended by prices IN subsequent
Dealings the April interest being taken in bonds