The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-15
Sudden Decline in The Rates Of Money
Loans at ! and Per Cent.
GOLD STEADY AT 112 l-S A liz IA.
The Stock Market Dull
and Weak.
WALL STREET,


end that the country may eventually resume
specie payment, Congress is wasting time, Tor we
shall then be no nearer the grand object in view
than now. Practically the bill means both expan-
sion and OBSERVATION-DISCLOSURES OF the bank note
currency and contraction OF legal tenders 1t Will
answer the demands OF the advocates OF free bank
ing and OF the infationists. II will AFFORD opportu-
nifty to capitalists, here and elsewhere, to engage
In banking under the most liberal provisions; but
without specific restrictions upon the fresh issues
permitted, without giving to promises 30
pay" new az well as old, the strength and credit
shat attaches to ultimate redemption, the bill will
prove nearly If not quite as faulty "A It's vetoed
predecessor.
RAILWAY EXTENSIONS.
Some OF our large railway companies have failed
20 learn the lessons taught by the recent panic,
and instead OF retrenching are, Ike the national
government rushing into fresh expenditures
While the mass OF the people are engaged IN sow
ing the problem .how to saves from kitchen TO
parior and counting room, Congress, withoa.
scarcely the form OF debate, Is passing bills of
appropriation that will swell our outlay for the
year to figure that has not been equaiied since
the close OF the war; SO, too, with NOT q few rail-
road corporations, which, all unmindiui OF the de.
pressed condition Of the industries OF the country,
are seeking to extend their lines for connections
through sections which are already fully supplied.
II is q question wen worthy OF consideration
whether the present condition Of the country JUS
titles the development OF any great railway enter
prise, and whether, being developed, it VIII not be
long time before its projectors arded with
profit especially IN view OF the great competition
already established.
THE MONEY MARKET.
Money was freely offered to-day ON call loans at
and per CENT but the wants OF borrowers were
not SUFFICIENT to absorb the capital seeking en-
p0yment even at these figures. Foreign exchange
was dull, but bids fair to be again advanced. The
shipments OF gold still continue and more are said
70 be engaged. The nominal rates for bankers
sterling are 4.s7h ASS lot sixty day bills, and
A9ok 4.9l for demand Continental exchange
was quiet and firm; Reiclsmarks 95X 30 for bank
srs' long and s6k s65s for short, and prime Paris
francs 5l3,< for bankers long and $40 for short.
GOLD MARKET.
Gold commenced its movements to-day at IIol..
sold at liz, then recovered and closed at 1l2k.
The rates paid for carrying were IN to 3 per cent
The bids for government gold at the Sub Treasury
to-day amounted to s5,465,ooo, at rrices ranging
from 163 10 ll2.1o 1902 was bid for 81 600 600
The steamer Westphaia. for Europe to-day, took
ont $500, 900 gold coin and $4,000 silver bars.
CLEARING HOUSE STATEMENT
currency exchanges. SI0ll3, 80
Currency balances ..........-.-..-. 3,663, 100
GOtd exchanSes s,34o.ao2
Gold balances. l,794,03o
The operations Of the Gold Exchange Bank to-
gay we're as tollows:-
Gold balances. ACKNOWLEDGEMENTS 81 90. Isl
1EOSs ceaIauces. OBSERVATION-DISCLOSURES. 4o,4Ss,UUO
THE FOREIGN MARKET.
The Bank OF England directors held their regu-
lar weekly meeting to-day. No change was made
In the rate OF discount Money the open mar
ket for three months bills is 1916, or BIC below
the bank rate. The decrease In bullion in the bank
for the week was esq., 600 sterling, the amount Of
hpIl{ ipta fha hafa tn
e72,ooo sterling, and the proportion OF bank re-
TO liabilities, which last week IS, is now
VIZ. The following are late London quotations -
Cons0ls. money SO 3.16 $50; d. account, 933S;
Gve-twenty bonds, 1866, lo7; do do. 1867, 1o9k a
1925 ten-forty bonds, 1oa4; new dves, 1o4n;
Erie, 32sI; New York Central, $50 SO. Market
quiet but firm.
THE UNITED STATES TREASURY.
The Treasury balances to-day are as follows:-
Currency $9,9 ,0oo coin, SIS, 800 900; less coin
certificates, $40, 500 ooo The Assistant Treasurer
paid 1925 900 account OF interest," and $s3 600
in redemption of nve-twenty bonds. The total pay
ments by the Treasury account OF May interest TO
date amount TO $7.S1l,o00. The internal revenue
receipts to-day were s4l4,s25. Custom House
ceipss, $4,000.
GOVERNMENT BONDS.
Government bonds closed steady at the following
quotations United States currency slxes 1l69s
LIDS No., 1901 feSisttfco, tf51A 40 CO.,
do, coupon, 1915 l2l1s; do hve-twenties, 1862,
registered, 1l5H 1l55s; do. do, do, ex coupon,
115z 1i5,S; do. do, 1854. registered, 1iss 1T;
DO do, do, coupon, l16A lI7ts; do do,
1856, registered, 116x III; 40. do, do, coupon,
117z us; 90. do, do, new, registered, 1le
y 119}z; DO. do, do, coupon, 119A 1lsh; do.
do, 1867, registered, 1le3s q 119A; do. do., do,
coupon, 1908 1907; do. do, 1868, registered
llsA 1lsst; do. do do, coupon 12o3s 1907;
do. ten-1ortes, registered, 114% lis; do do,
coupon, 1l4'l us; do. fves, 1884, registered,
u51s q ll53s; do. do, do. ex coupon, 1l5h ll5I.
SOUTHERN SECURITIES
were duh and neglected The following were
the late bids Missouri SKIES Q5I<; do.
do, Hannibal and ST. Joseph ISSUE 90;
tennessee SKIES, old, So; do. do, do, ex |
coupon, "a; do. do. new, Sc; 40. do oo., ex I
coupon, 81; Virginia SKIES, old, 81; do DO,
new, IS do. do consolidated, 81 90. d. deferred,
1o1l; Georgia SKIES. IS; do. sevens, new, s9 do.
40, Endorsed, -; do do, gold bonds. so: North /
Carolina skies. old, January and JnIy. ~. /
do. do, do, April and October, q; do. do, North
Carolina Railroad January and July, AZ; do. do.
do, April and October 3S; do. do, do on Ian. |
nary and July 2s; do do, do, on April and Octo-
Der, rs; South Carolina SKIES "A; do. do January
and July, s; do. do, April and October, 20: do.
Fnnding act, 1896, 20; Texas tens. 1876. So.
RAILROAD BONDS.
IN tns department. business continues duh and
uninterestng. Prices during the day were with.
out important cnange. Central Pacinc bonds
closed at s41S s4K and Union Pacifcs at ss4
ssK for rsts, 20 sok for land grants ana 10 to so
f0r incomes. The following were the latest bsds -
- Il LIST No.. Bun Erie new DDS. 95k
Cit Alton rs Bun 4 STATE i, Ts ' al
Joliet Cbi itt M .iWts Lake shore div bns.. ptL
- L, Jack Chi LIST M VA Lake shore LIST con, o6.
Ches OHIO bS ISL M d. Lake shore IS
Cha aock Island Pac 1854 Lake Shore con IA s9
q. g. q ist IN Tas u Mich Zen con re, g2..
Nj Central, convert luz M An Haven 6s 49,. gag
An Dock Imp bonds % New York Cen SIS rss eln
81 r lst, es, PD...lB New York Cen SIS Isl ggE
Nil sc r, 73lu PD.. New York Cen 6'S e. 81.
MI 4 81 Plst m kDI as New York Ceu rs sub "a
f;hi 4 f...........lW N Cen 70 T6. -. l0ix
chi n W cou Dds.. - NICTs. con To-. 1Ol4