The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-08-10
4 Reduction Of More Than a Million of Dollars
in the Total Reserve.
THE COMMERCE OF TIE WEEK
United States Securities Very Strong and
Railroad Bonds in Coed Demand.
WALL STREET,
SATURDAY, August 90 p. n


SATURDAY, August 90 p NJ.
On 'Change to-day cotton was irregular for
sppOtn while for future delivery the sales show o
.aecline Of nc. 3-16c per 10. for August and Sep
TENDER. Flour was duh and unchanged. Wheat
was active and higher and corn was quiet ana
easier.
THE FOREIGN MARKET.
London advces continue favorable securities
being recorded firm, with an upward tendency.
There has been some hardening in the money mar
ket owing TO causes connected with depreciation
OF several Continental securities amounting in the
aggregate to upwards OF ESQ, 600 900. The mass of
property that has been subjected to this enormous
depreciation Is estimated to be f1so, 00o, 00O and
the depreciation in many cases has resulted in
nearly the total disappearance of the market value
OF the property affected. English fnancers write
that the money market is now treacherous in
the highest degree, and inst fear exists that the
ease of to-day may be followed very quickly by an
alarming stringency, in which existing speculation
may be brought to premature close. The FORE
going observation applies at this time with pecu-
liar force to America although the causes con-
verging to produce stringency are entirely direr-
ent from those which prevail abroad. The latest
London quotations are as follows:-Consols for
money, 92X a OK; cons0ls for account, OK; five.
twenty bonds Of 1865 (old), o4x; nve-tweRty bonds
Of 1867, 94s< 95; tenforty bonds, 9111 9lZ; new
nves, 9o9% a 81; Erie Railway shares, 48X a 46H /;
Illinois Central Railway shares, IS a 81; new French
loan, ~ q * per cent premium.
THE FOREIGN COMMERCE..
The foreign commerce OF the port for
the week was as follows:-general mer.
chandise imports, including dry goods,
$o,9s5,s41 produce exports, S6,oo6,2A and
specie exports, $723,4o5. The total merchandise
imports since January were $3.50 $50 sol, against
5000 s3s last year. and s226 $50 in 1871. The
total exports Of produce since January were
$l67, s92 no. against $12s, O12o last year, and
tl3o, ,232 in 1871. The total exports Of specie
since January were $751; SAC against $55 ,SA
last year, and $5l, sos, o22 in 1871.
THE MONEY MARKET.
The money market to-day was quiet and without
change. Loans were made on call at 8 and 4 per
cent. Foreign exchange was dull, with nominal
quotations, at 1851 1857 for bankers, 60 day
sterling, and 1895 alosh for sight.
THE BANK STATEMENT.
The bank statement for the present week does
not compare favorably with its immediate prede-
cessor, there having been reduction OF 81. O87, 1925
In the total reserve, which now stands ut
81, 735,65O, as against $13so3,475 last week. In
specie there has been decrease OF $452 2O0 and in
legal tenders decrease Of $l,ose, 2oo Deposits
The total liabilities deposits and crculaton) are
el,6s2, 800 lower. Loans increased $7n, 300, and
circulation $35,50o The per centage OF the
Of the national banks is 30.1s; that OF the State
banks to which attached restrictions, 27.28;
making the average, 2o.s2. The following Is the
statement and comparison with that Of last week.