The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-27
FINANCIAL And COMMERCIAL
ANOTHER QUIET DAY.
The Adjournment of Congressional De-
bate Giving Encouragement to
Local Speculation.
No Interest in the Foreign
Markets.
WALL STREET,

WALL STREET, |
THURSDAY, Feb. 26-6 +. M.
The general result IN Wall street to-day rejected
Che average instinct of the American people III re-
spect TO Congressional work. The discussion Of
the financial question was adjourned over until
tuesday. This simply means rest, in which they
shall have time to consider the practical applica-
ton OF the principles set forth from various sources
this morning, and see how far they can accommo-
date the pressing exgencies OF the West to the
conservative instincts Of the East. 1t is, perhaps
worth while to remark here that, properly con-
sidered these purposes are not antagonlstlc, and
the greater the absorption OF the Western enter
prise with Industrial results the larger the Eastern
understanding OF its value, not only in respect to
circulation, but in respect to converttbity 1t Is
pity that the West has not some great teacher who
is willing to separate himself from the blatant
policy which Is the current philosophy Of Western
argument in respect to the finances, who could
teach the Western experts that the West Is not an
experimental ground for Eastern fnancierlng, but
agrand productive region upon which this Eastern
fnanciering rests That the whole purpose Is the
good OF the country and that all these questions
have for their object the ultimate happiness for
the greatest number no one can deny; but Wall
street. IN Its agony OF an occupation gone" asks
that 1t be quickly considered.
GOLD
opened to-day at 1925, advanced to 112I and
closed at 1l2. The customs receipts were $252, 00O
the payment account OF accrued interest $50, 600
and for called bonds $1,000. The carrying rate
ranged from to per cent, with and az as the
average rate.
The following were the Treasury balances to.
day-Currency, $2,50O.O00; con $sS. sec, 900; less
certificates s43, 100000.
CONTINENTAL EXCHANGES.
The Bank OF England rate OF discount was un.
changed.
The bullion in the Bank Of England has increased
c187 900 during the past week.
The proportion OF the bank reserve to liabilities,
which was last week 4S% per cent, is now 40 per
cent.
The amount Of bullion gone into the bank on bal
ance to-day Is f17,OOO.
Erie railway shares 43I.
LOCAL INFLUENCES.
The customs receipts to-day were 1882, ZOO. The
following copy OF letter has also been submitted,
which may be taken Tor what 1t Is WORTH
NEW YORK, Feb. 20, 1874.
To DANIEL DREW, EUGENE N. ROBINSON, A. II.
BAYMs j.. H. BUNKER and JAMES D.. SMITH.
Executive Committee OF the Quicksilver Mining
GENTLEMEN-We are informed by clients holding
$500 shares OF the preferred stock OF your company
Of directors to your Committee. suthorizlne YOU
in your discretion, to allow the holders OF the COM
mon stock to pay into the treasury OF your COM
pany five per cent, and after such pay
ments are made to place such common stock
in all respects on an equality with the preferred
stock. AS any such action by your Committee will
work a manifest injustice and injury to our clients
we hereby notify you that in the event Of your
adoption of such resolution we shall mold you In
divldually personally responsible for the injuries
sustained by them thereby, and that we will forth
with institute proceedings for such Injuries and
damages. Yours, &c, BlRDSALL FRIEND.
MONEY rs EASY
ut 8, and per cent closing at per cent with.
out any activity.
The bullion in the Bank OF England increased
during the past week f1s7,0C0. Amount gone into
the bank to-day, cit, OO0 The proportion OF
bank reserve to liabilities, which was last week
ASK, is now 40 per cent Erie, 49,
STOCKS on THE CALL.
The following were the prices at which railroad