The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-28
FINANCIAL and COMMERCIAL.
"A Quiet Day with
Slight Results.
Stocks Better, Railway Mortgages Firm
and Bank fhares Neglected.
a New Exhibit in the
Bank Statement.
@ O L ID III l. Il.


showed gain OF over So OO0 600 to the active cir.
culation. The following is comparison OF the
bank averages for the past two weeks:-
Loans s e. $751; ss H. 500 n e g.
Specie. 19934,2oo 19,11A,3OO Dec 2lg. 900
Legal tends elsas,eoo e2,e2s, 200 Inc. 1,Os4, 500
Circulation. 2e,6523oo 28,5ll,3oO Dec al 900
Applying the new law to the averages OF the
past week we find that the total reserve required
namely, 25 per cent on deposits-is SIS. 49,, 300,
from which should be deducted ST. 1885, SOS, which is
per cent upon the circulation of $2e 511, 300 and
which per cent sholld be in the Treasury al
though the banks have not yet generally made the
transfer. The reserve which by the new law they
are required to hold in their vaults under this
statement is $56,9O6 1856. They actually hold now
ss 5OO but SIS of this is due to the Treas
0ry; so that the excess of lawful money held
by banks above The legal requirement Is
$24, 4O5, 200 Last week. under the old law
the excess above legal requirement was
$1S, $780, In connection with the above
1t Is well to remark that this release of reserve
against circulation in the banks introduces new
feature into the banking business, hence the fol-
lowing suggestion In paper which is known as
eminently conservative:-"In regard to the New
York banks we are at liberty to say of some OF them
that 1t IL their intention to give up their entire cir
culation; and, we hope to be able In a short time
system and organize under the laws of the State
Of New YORK, which assume that bankers know as
much about their interests do the people en-.
gagged in other branches Of business
THE OPERATIONS on THE STREET
were confined to-day to the speculative shares,
which simply responded to the currency move.
ments.
THE SPECIE SHIPMENT
to Europe to-day was as follows:-steamship Pc
ship City of Richmond, $500, 600. To Havana and
Hayti $4,000 Total, 4lo, OF which $685., 61O
was In gold coin remainder silver bars.
THE FOREIGN MARKETS
show no changes OF any Importance. Twenty
three thousand pounds was Withdrawn from the
Bank OF England on balance to-day. Rentes at
Paris we're quoted 50f. 45c.; 62s, at Frankfort,
DIX. The rate of discount in open market for
months bills Is 27S, or Il blow the bank rate.
Erie, at $3.50 P. NJ, was quoted at 2s1z steady.
MONEY Is EASY
between two and three per cent. The internal
revenue receipts to-day $685. 900, and the re-
ceipts for the month to date S., 1895, coo.
FOREIGN EXCHANGE
IL quiet, without new features or any change in
quotations from the figures which have already
appeared. Quotations named as follows:-
Asking rates sterling, 4.8sh 491; selling rates.
4.sS 400; Continental quiet but steady; Reich
marks, 90 967t; cables, Oh; prime Paris, 5.13X
1910.
THE STOCK MARKET
was active rejecting the new feeling which has
come into tue market The advance ranged from
y to per cent ana the closing ngures were in
most cases the highest. The principal business
was in Lake Shore, abash Rock Island North
western, st. Paul. common; New York Central
and Western Union. The sales OF the most active
stocks were as follows:-New York Central and
Hudson River, 10000; Erie, Is. SEQ; Lake Shore
&C. 600; Northwestern, TO- 100: Rock Island, 1900;
Pacific Mail, II 400; st. Paul, g. roo; do, preferred
1900; Ohios, 1880; Western Union, 2s,40o; Wa
bash, 20, 500; Union Pacific 223O0; C. G. 4 /. c.,
500; Delaware, Lackawanna and Western, 1900.
GOVERNMENTS ARE QUIET,
but firm, closing at the following prices:-
United States currency SKIES, 1853 115'4 do. do
1881, registered 117A ll7h do. do, do, coupons
I22 1924 do. ve-wenues, 1862, registered, 11A14
l14%; do. do, do, coupons, 114A 114%; do
do, 1864, registered, 116i4 l16a{; 40. do, do,
coupons, 1l7A HE; do. do, 1865, registered,
1161k III; 40. do, do, coupons lis l1S4; do.
do, 1885, new registered 116A ll61a; do do, do,
coupons, 1907 a 1905; do do, 1867, registered
1t6X q III; do. do, do, coupons 1909 121h; do
do, 1865, registered, Iii 1ls; do. do. do,
pons, 1909 o III; do. ten-forties, registered
1854 ia; do. do, coupons, 114A l143s; do.
nves, 1881, registered, 1141S 1149s do. do, do
coupons. 1141s ll4A.
was steady to-day at Ill 4, the loanng rates being
dat to one per cent. The Sub-Treasury paid out
to-day 10000 on account OF called bonds and
$3sOO0 on account OF interest. The customs re-
cetpts TO-DAY were $4,000. The interest pay
ments Tor the week 100000 and Customs for the
week, $1,6S2,00
THE SPECIE MOVEMENT.
The shipments OF specie from this port during
the past week were as foows:-
June 23-Steamer Ontario st. Thomas
American gold .................. $25, COO
June 24-Steamer City of New York, Ha-
vana--United States silver. .......,..... 5000
Mexican douoloOns. Observation-Disclosures. 1900
American gold eagles $4,000
spanish donDioons. ACKNOWLEDGEMENTS. 2,376
June "a steamer Abyssinia, Liverpool
Gold oars. ........... ................... Il5,03l
June 27--Steamer Perere, Havre-Gold
bars. .......................... ......... 2o,8lo
Double eagles. .......................... $4,000
Five kegs gold coin Observation-Disclosures. 100000
Two boxes gold bars. $4,000
One box silver bars. Observation-Disclosures. 800
one key American gold coin. ....... $4,000