The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-07-04
HOLIDAY DULNE S S.
Serious Action of Secretary Brist0w
and Its Teaching.
THE BANK STATEMENT.
A Generally Expectant DISPOSE
ton in Values.
WALL STREET, |

FRIDAY July ., 1874
Outside OF the ordinary progress of causes and
counter Influences that have been freely discussed
here the point on the street to-day was the action
OF Secretary Bristow in regard to the further
operation OF the Funding bill. Mr.. Bristow asks
proposals Tor nearly s1soOOO,ooO new United
states stocks, alike from holders OF old
STOCKS which are to be exchanged for
the new issue, whether directly to the holder or
indirectly in the general operation. There is a
burst OF honesty in this proposition that is to be
highly commended The pure atmosphere which
hovers over the Blue Grass region and stimulates
1t to higher production than belongs to
other less favored regions has, no doubt,
had Its influence in directing this &C.
tion. 1t Is to be regretted, however,
that while "blue grass" may make excellent fod.
der IL Ia not brain ioOd, and the succuent sugges
tfons of the coast, such as oysters, clans and
Others Of that ilk. may possibly have something to
do With that larger understanding OF business
operations, they have a monetary relation
known during the recent debate in Congress as
Eastern fnancierlng.
THE HOLIDAY TOMORROW
makes to-day the close OF the week, Reviewing
the current Of operations during the past five days
1t may be said to reflect growing confidence in
the future. Railway property has been stubbornly
assaiied ever since the panic and undoubtedly
viewed exceptionally with too much truth. Rail-
roads have withheld their statements from the
public and thus exposed themselves TO suspicion,
the new law introduced during the last
session at Albany by State Senator Jacobs
making it misdemeanor to circulate false in
formation OF that character, and, hence, imposing
silence on many roads previously blatant In their
current reports. The earlier business of the week
showed more buoyant feeling, which fell OF,
however in respect to enthusiasm towards the
close. upon realizations to make the profit. then
certain, and the indisposltion to carry over en-
gagements during the holidays.
THE JULY DISBURSEMENTS
were, OF course, leading feature Of the week 8
business but have not as yet had time to influence
values. Large amounts have however, been put
In circulation under the operation OF these divi-
dend and interest payments the disbursements
nom the Treasury alone amounting to ss,54o,oOO
gold and 81, 154, 400 currency.
MONEY
showed an advance early in the week as high as
per cent upon certain antcipations subsequently
proved erroneous, regarding the action OF the new
Currency bill, but went of later to and per
cent, which was the figure at the close tonight.
Prime mercantile paper was quoted 81 Ga per
cent and second class as high and 10 per cent.
THE BANK STATEMENT
shows that the banks hold $S5,594, 500 reserve,
against $s2 637, 500 last week. The liabilities,
far as reserve requirement under the new law Is
concerned. have increased Ss,510,3OO that repre-
senting the Increase in deposits. Last week the
banks held $24 4o5,ooO in lawful money IN excess OF
the reserve requirement Of the new law. and this
week they so hold $25, 233, 49, The following is
comparison OF the averages for the past two
weeks:-
June q. Jlly g. Differences.
Loans 1921, 791 500 $2S7 422, 200 Inc. $50, 700
Specie: lSalaSoo 2lss4' goo Inc. p 22o 0O0
Legal tends g. 923 200 IS, 800 Inc. 737, 800
Deposits 1872 92s,2oO 24,445, 500 Inc. 49, 1858
Circulation. 26,5l1.3O0 25,s63,9oO Dec. 647,4 400
The following shows the relation between the
total reserve and the total liabilities
June "a. JaUy g. Differences
Specie $40, T14,3oo $21, 1854 800 Inc. ST. 22O, 900
Legal tends 62,923,20o 63,66O,5o0 Inc. 737,S00
Tot reserve $S2 500 SIS, 594 800 Inc 957, 300
Reserve re-