The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-07-11
FINANCIAL and COMMERCIAL.
BULLION LEAVING TIE COUNTRY.
Reduction in the Bank of Eng
land Rate.
Money Easy Abroad and at
Home.
ACTIVITY IN STOCKS.
GOLD r IR M.
THE PROSPECTS OF THE MARKET.
Shall We Have a Summer
Speculation?
Money Easy Abroad and at
Home.
ACTIVITY IN STOCKS.
GOLD r IR M T.
THE PROSPECTS OF THE MARKET.
Shall We Have a Summer
Speculation?
WALL STREET.


THURSDAY. July 100 n. MI
On 'Change to-day cotton was quiet, with spot
ruling steady and futures &c per 10. lower. Flour
was in demand and nrm Wheat was a shade
easier and corn 1rmer
THE FOREIGN MARKET
The chief item OF information with reference to
the European market is the condition of the Bank
OF England illustrated by its income during the
week on balances OF CAT, 900. being an increase
over last week Of f37, 1888. At the Stock Exchange
the rate for money was Is per cent below the
Bank rate. The rate of discount on three months
bills in open market was u and y per cent below
the Bank rate The rate of discount OF tho Bank
OF England has been reduced from to
8 per cent, but the fact was without
effect upon the American market. Consols and
American securities were reported steady. Ten
forty bonds were 90H nve-wenties Of 1895 at % u,
of 1867 at 93A and Erie at 4s3I q 4sH. Rentes in
Paris were at four P. M. quoted at 5647, and the
new French loan at 6X a per cent In Frankfort
ave-twenties Of 1852 are quoted at 96%. In Am
sterdam Union Pacific first mortgage bonds are
quoted at COX and stock 23H. The Bank of France
has lost 100000 of francs during the past week,
the displacement being measurably due to the pay.
ment on the 5th inst. of the instament OF the
French war debt to Germany.
+. THE MONEY MARKET.
Monoy was easy during the day at and per
cent, closing at the lower rate Prime discounts
moved at and per cent Foreign exchange was
strong, though quiet, on the basis OF 1O9x 1923
for prime sixty-day bills, and 110H 11Ox for
sight. The quotations are the same as yesterday.
It Is noticeable fact that our exports Of produce
have been checked, necessarily producing q tenn
porary influence upon the market.
GOLD 115sl 1857.
Notwithstanding the sale by the Treasury De-
partment to-day gold maintained its strength,
and now bids fair to hold Its own for the season.
There Is no cogent reason why 1t should recede,
after having endured and successfully resisted so
many depressing Influences. An. export demand
seems to have commenced, ana before
long we may have occasion to realize
s0me Of the logical results Of the mistake
OF the administration in not keeping enough of
coin on hand to check undue speculation In
merchandise" 1t is called, for which there is
larger demand than supply. The English financial
world would 90 wild with only twenty or thirty
millions OF dollars in its national Treasury yet we
have far less, and our sole credit rests upon bit
of green scrip that Is scarcely marketable beyond
our borders. A Bank OF England note, however,
is exchangeable for it's full value in Utah hamlet.
The thought is worth remembering. The outflow
of gold to-day, by the steamer Holsatia, was
81, 25O, 00O besides $24O00o in silver bars 1t Is
understood that further large shipments will take
place during the week. The market was firm and
showed but little fuctuation, as may be seen by
the following tablet