The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-16

we will present a. soon as Il oan be correctly
made
THE MONEY MARKET
during the week has been easy at and per cent,
with larger offerings than could lind use. Hence
large amounts have found their way into govern
ment bonds and good dividend paying securities.
These have therefore, naturally advanced and given
tone to the general stock market, which always,
more or less, sympathetically obeys the movement
OF the grave and reverend seignors on the list.
Time loans were made at AJAX per cent for 80
days, per cent for 90 days and 5k per cent for
90 days. For prime business paper the discount
market was easy at 0 q per cent.
GOLD
was firm, and there are indications of the pres
ence OF u clique who are evidently basing their
calculations the indecison OF Congress and
the belief that that body will legalixe the issue of
the entire reserve Should this take place the
operators reason. and not without basis, that
GOLD viii advance sharply The range of the week
was 11l7I ll2%. The closing price was 1l2x.
THE FOREIGN MARKET.
Contrary to well expressed expectation on this
side OF the water the Bank Of England has
not advanced IT'S rate Of discount, which
stands as heretofore, at So per cent. AS far as
may be judged from present Indications the
course Oh the money market is tending to greater
frmness in the immediate future. The outflow
OF gold has been principally in the direction of
the Continent and the outflow Of silver in
the direction OF India The general election has
doubtless also enhanced the absorption OF coin by
the Provinces, that the decline in the balances
that may have been reported during the week Is
reasonably accounted for. We note that nearly
100000 OF bar silver has recently been withdrawn
from Germany for shipment to the East. English
money writer's comment !avorably upon the in
vr,nhi ne
country may not be directly affected by the fact
that the average advance of Russian securities
during the year 1873 on line of eleven stocks was
very nearly three per cent, it is still significant Of
an Improvement In the system of national credits,
Of which the United States is necessarily partici
pant. The growth OF any subordinate nation means
a corresponding growth for u.s. We observe, also,
with reference to
LOUISIANA BONDS,
that the Council of Foreign Bondhoders have re-
ceived the following letter from The Committee Of
the Bourse at Amsterdam, dated the 2Sth ult. -
We beg to hand you underneath copy of letter
sent to-day by US to the Governor and TO the SUI
preme Court Of the State OF Louisiana :-"Consd-
ering the TACT that there are in the Netherlands
great number OF bona fde holders of Louisiana
State stocks, We join our protest to that Of the
Council OF Foreign BondhOders in London against
the reduction OF the capital and the interest OF the
Louisiana stocks, and we pledge ourselves to CO.
operate with the said Council in every measure to
be taken in the matter"
Last Sunday we quoted similar action, although
less forcibIy phrased on the part OF the foreign
bondhoders OF North Carolina The funding,
scaling of debt or any other species OF homeopathic
species of reputation Is evidently not popular
with our foreign cousins.
THE STOCK MARKET.
The widest fluctuations of the week were IN
Harlem, and Northwestern Union Pacific, Lake
Shore and western Union. Among the lower
priced securities G. G. ana I. @. maintained un-
usual steadiness and resisted the depressing in
fuences which from time to time affected other
shares. Delaware Lackawanna and western was
also strong. The following tables, however, will
enable the reader to Judge Of the various changes
OF the week, and the highest, lowest and closing
prices of Saturday.
FLUCTUATIONS OF THE WEEK.
The following table shows the extreme fuctua-