The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-08
A Dull Day in the Stock Market---Prices
FluctuatiDg and Lower.
MONEY EASY-GOLD STEADY
WALL STREET.

business. Add TO the quantity and the value
10 iessened. Apparent increase OF price
would follow, because 1t would take more
paper promises to buy given quantity
or gold, wheat lumber or iron. These
commodities would not be worth more, but the
currency would be worth less. The sum and sub
stsnce of the whole argument Is that should set
our faces steadily and persistently toward such q
redemption OF our currency as will bring II to
par with gold, while at the same time we should
avoid too hasty contraction. We can produce
gold enough to resume specie payment; but specie
payment will never be required as long % the
knowledge OF this TACT exists. What the country
needs is confidence not gold. When Congress
axes the value OF legal tender on a gold basis,
redeems its promises to pay, provides q method
whereby one-fourth Of It's outstanding currency
can re-enter Its treasury and be substituted for
coin, from that moment the problem IS solved.
THE UNITED STATES TREASURY.
The customs receipts to-day were $53s.0oo. The
balances In the United States Treasury at the
close OF the day were:-Currency, $3,s4l,3S9;
special deposits OF legal tenders for redemption OF
certificates of deposit $52,2l5,OOo; coin balance,
$s7 0o9l7; including coin certificates, 1885, 7O0
outstanding legal tenders, $751;, 0o0,oo
PRODUCE EXPORTS.
The total exports Of produce from this port for
the week ending to-day amounted to s4,742,O58
OF 81, So5,sl2. The exports for the corresponding
period OF last year were $5,Ol0,645. and Tor 1872
$3,ss5,l0s. The total exports, since January /,
this year, $7s, 9s7, against $685. $685. 543 last
year and $56.61l, 421 in 1872.
GOLD MARKET.
Gold opened at 113A, went or to 113h 1l3I,
but advanced again and closed at 113H. The pre-.
dictions Of operators are generally In favor OF
higher gold. and many OF the larger dealers are
buying quietly and awaiting results. 1t Is not
unusual to hear such figures as 12o, LIS
and 100 mentioned as future prices. Among
the members OF the Gold Board no men are more
popular than Morton, Merrmon and Logan. The
rates paid for carrying ranged from 80 per to
nat, the final rate being per cent. The Assistant
Treasurer to-day paid out $4,000 on account Of
interest and $4,000 in redemption of five-twenty
bonds. The operations of the Gold Exchange
bank to-day were as fonows:-Gold balances,
$1,S71, ISL currency balances, $1,556,977; gross
clearances, $26, 100000.
CLEARING HOUSE STATEMENT.
currency exchanges ST., 433, 664
currency balances. 2lT6, 1913
COO exchanges. -..-..-........-... 4,e5o, 5o3
Colo Daiances-. 9U3, Qo2
THE FOREIGN MARKET
The following are late quotatons:-In London
Untted States ive-twenty bonds, 1866 old. 1O9as !;
do do, 1867, 10S;4; New York Central 90; Erie
preferred, 601s Paris dispatches quote rentes at
59f s7xc Frankiort-Unted States dve-twenty
bonds, 9sh for the issue OF 1867. Amsterdam
Central Pacific, first mortgages, 7sA; Union Pa
chic, drst mortgage, 72k; Union Pacific shares,
S2H; Northwestern preferred, 63; Erie shares "a.
THE MONEY MARKET.
Money commanded the usual rates on call-to
wit, and per cent. Foreign exchange was
unaltered at the close, and may be quoted at yes
terday's prices.
GOVERNMENT BONDS
This business in. this market was well sustained,
prices remaining firm and the demand being &C
tive The following are the last quotations.
United States currency SKIES, ll7S u73s do.
skies, 1851, registered, 119H 100; do. do., do,
coupons, 12l5 12l7s; do 1ve-twenties, 1862,
registered ll44 us; do. do, do, coupons, 1l7X
us; do. do. 1864, registered, 116; do. DO cou-
pOns, 1914 100; do do, 1865, registered, 116;
do. do, do, coupons, 1908 III; do. 1861 new,
registered, 11S4 1l9; do. do do coupons,
119 1194 do. do, 1867 registered, 1195. 119X;
do. do, do, coupon, 12o 12oA; do. do, 1868,
registered, 119h 100; do do, do. coupons,
119X 40; do. ten-iorties, registered, 1144
lis; do. do. coupons, Hay 49, do fives, 1881,
registered, 115A 115z; do, do, do, coupons,
115k 1I5k.
THE STOCK MARKET
to-day was depressed, and the majority of sales
were MADE in the expectation Of lower prices. No
business man has faith in imitation. Even the
speCulator discovers sudden reaction as the
suit OF Senatorial legislation and has made haste
10 unload. The knowledge that some OF the lead
ing Senators who have been most blatant IN de-
handing imitation were operating In Wall street in
q pool OF 10000 shares has not tended
to elicit much confidence, and we have
rs q consequence weaker market this
evening than has been observed for several
days. The principal business was done In west
ern Union, New York Central, Lake Shore Union
Pacific, Northwestern, G., q. and l. G. and Pacific
Mail. Western Union opened at 1914, but was SUBJ
jected 10 severe pressure and declined to 49, From
this point however, there was q reaction, and the
close was made at 7S1I, or X per cent less than
yesterday. New York Central sold at 1904 100K
l00K 100k 1007l 1904 1908 100k. Its
close yesterday was 1907 1907. Pacific Mail
commenced at 47A sold down to 46A and closed
at 46h. Erie sold at 39% 39I q 3s3s a 3sh, de.
cline. Rock Island ranged from 107 to 1907 1861,
closing at 1861; also a decline from yesterdays
prices. Lake shore declined from 791s to Tx,
ending, however, at 7SH. ST. Paul moved
downwards from 43h to 42I, closing at
z2h. Union Pacific fell or from 38 to 37k a 3TIs
Ohio and Mississippi ranged from BOX to 2o1, end
ing at 80 a 30A. Northwest, common, was quoted
at IS q "a SAX 541s SAX 54H; preferred
opened at II and closed at 71x. wabash sold at
90 45k a 45k ask ASH Asa. C., O. and |. G.
likewise experienced depressing influence and
declined from 32H to 49, recovery, however,
afterwards being made to u per cent. Allan
tic ana Pacific preferred sold at is 151. Hannibal
ana st. Joseph closed at BIZ. From the foregoing
quotations IL viii be seen that prices are lower
than Yesterday. and that there is an irresistible
depression at work.
HIGHEST AND LOWEST PRICES.
the following table shows the opening, highest
and lowest prices OF the day
opening. Highest. Lo,cest.
Nav YORK Central ...... .100X 1907 1905
Fro .......,.......... 3gX 3gX 3Ss
LAKE Snore 79I 79h Tx
vUahash ......... 46 46 ASK