The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-04-07
Commerce Drifting HelplesSy and
Without Purpose.
TEE FAULT OF CONGRESS.
The Stock Market Disconnected and
Prices Unsettled.
Gold Steady at lib So q
113 la.
GREENBACks SO CENTS AND MILL
WALL STREET,

WALL STREET,
MONDAY, April Go p. M.
On the irst day or Abe week there IS usually little
to record concerning Wan street While its infn-
ences rnore or less. give tone to the rest OF the
country while first results, although they be
never so delicate are felt here and ra1aiiy broad
cast; while trade takes warning ana commerce
shapes it's course from the signs thrown out from
this great money CENTRE there are times, ana this
is one OF them, when even the acknowledged Ex-
change OF America drifts helplessly and without
purpose. Real values know no law save the law or
trade, and they have been startled and upset. The
pubic faith That was pledged TO make them good
has proved deluson. The public dollar is worth
only lightweight cents and mill or two. Cold Ia
firm, not advancing, and gold is the worlds
measure OF value. Our only relief is in
redemption. Our only financial strength
Is ia some process OF gold payment,
near OF future, and not in rounded
patriotic sentences about growth and wealth and
public pOwer--the talk OF Mrabeau and John Law.
The nation has promised to pay one hundred cents
on the nolar. Rich and poor alike look for FIJI
flment OF this pledge. SO far Congress has COM
promised It's debt to the people by issuing another
$l00. 0oO, Just as bankrupt individual might
do in u smaller way This is the reason why real
vaiues taking the place OF paper promises, ana
merchants are beginning to calculate on the pro-
prlety OF reducing all their transactions to gold
basis. 1t is also the reason why Wall street is dis
concerted.
THR MONEY MARKET
Money closed at and per cent on call. Prime
discounts are quoted at 5A a per cent. Foreign
exchange was hrmer to-day, although che demand
continues light. Prime BANKERS sixty days ster-
ling is 4.S5 and demand 4.s4. Continental ex-
Change remains quiet and steady; Reichmarks,
ss,s 9sH for bankers long and e6,s s6sa for
short prime Paris francs, 5.192s for bankers long
and 5.l3s. Tor short.
THE GOLD MARKET.
Gold opened at 1875. sold down to 1872. and
closed 1t ll39s the carrying rates being from per
cent to nat.
CLEARING HOUSE STATEMENT.
nurrency exchanges ..-..-..... $S4, 625, $50
currency balances. .....-.........-.... 3,8e2394
ssoiu exchanges. 9044,86S
uo'" paiauces.. o1o,oS4
The operations OF she Gold Exchange Bank to-
day were as follows:-
Gold balances. 81 ls3, 50
Hr0Ss oiearances. .3l, 1l9.O4O
It is not an unfair assumption that a considers.
BILE number of stock brokers who have individual
sights in the Gold Board have transferred their al
aegiance thereto, and have purchased gold as
more reliable security than any that IL Offering on
The stock list. The Gold Room held special
meeting thus afternoon, and resolved by an over
r. N. throughout the year.
GOVERNMENT BONDS
were firm at the close, and continue their SYM
patty with the strength of the movement III gold.
The prices remain about the same as last quoted
United states currency skies, III NIX; do.
sixes, 1881, registered, 1874 119X do. DO, do,
coupons 121h 121A; do. fve-twenties 1852,
registered. lax 114X; do. do, do, coupons,
l17k 11SA; do. do, 1854, registered, 1l6 ll6M;
do. no. coupons, 11sA 100; do. do, 1886, regis
tered, 1861 III; do. DO, do, coupons 1907 q
130x do. ives, 1881, l15A 1lS1a; do. 1885, new,
registered, 11sA 119; do. do, do, coupons
7lsh l9A; do. do, 1867 registered, 11sx a 100;
do. do, do, coupon, 100 q 1907; DO do, 1883,
registered, 1913 100; do. do, do, coupons
119s+ 40; do ten-forties, registered, lax q
115; do. do. coupons, 1l5 115k do. fves, 1881,
registered, l15k 115k.
THE UNITED STATES TREASURY.
The receipts from customs to-day we're SAL, 900;
from internal revenue, $523.057. The Assistant
Treasurer to-day paid out $4,000 on account Of in
ferest aud $4,000 in redemption OF fve-twenty
bonds. The rumored withdrawal Of Secretary
Richardson from the Treasury Department is con-
tractcted by the Secretary himself He will not
receive foreign appointment, and it is not his
purpose to receive another political ONCE.
THE FOREIGN MARKET.
This being bank holiday in England we have no
quotations from London. Paris dispatches record
fentes At 60 francs.
SOUTHERN SECURITIES AND BANK SHARES
Southern bonds were without change except
Missouri sixes which advanced TO 05. Bank shares
were likewise quiet Fourth National sold at I07
and Commerce at 1917.
RAILROAD BONDS.
The market was exceptionally strong, especially
IN the late dealings. Central Pacincs were more
active. and advanced to 95. Chicago and North
western consolidated gold bonds brought ssX,
do. interest bonds 9s1s, Michigan Central sevens
0sA, and Ohio and Mississippi second y6ys. The
following were the late hids:-
BID Bid.