The New York Herald Newspaper, October 19, 1873, Page 10

TPINANCTAL AND COMMBROIAL An Irregular but Indepen- dent Market. —__+—— STOCKS FLUCTUATING Money More Plentiful and the Condition Encouraging. GOLD STEADY. preparer tueriemeeten: The Bank of England Advances Its Rate to 7 Per Cent. MORE COIN COMING. Government Bonds Unsettled—Railroad Bonds in Moderate Request. OUR IMPORTS AND EXPORTS WALL STREET, } SarurDAY, Oct. 18—6 P. M. The market to-day again illustrated the analysis of the situation that bas already been set forth in these columns. Cut loose from external influences, it is now depending upon those which spring from itself. There are no cliques to follow, no adroit “hints” to obey, no “points” to encourage, no | nothing that in past times has driven the street oad. Each individual is acting accoraing to his own judgment, or, to put it more truthfully, his “guess work,” and we therefore have a natural and spontaneous condition. True, it is in the power of a shrewd half dozen to manulacture false- hood and make it win for twelve hours; but re- Action is sure tg follow, and the market is certain to RECOVER ITS EQUILIBRIUM, For any fiuctuations ip the near past that have Decurred no reason need be given. They have simply responded to the supply and demand, neither the short nor long interest being of sufl- taent dimensions to excite alarm. A change of two, three or five per cent in such @ condition is not un- natural, In the Stock Board a man gauges his be- lief by his bids, and when the foundation for the Bame exists nowhere save in his own judgment— even though a score may be of the same opinion— there is no danger of undue speed. The check rein will be pulled in time to prevent accident, and a halt occur to examine the danger. Hence there is nothing in the pending situation just now observa- ble which need provoke apprehension. Slowly, but surely, Wall street is passing through the process of recovery. Its means are widening, its ends are again being adjusted, its resources are being am- plified. and whatever it possesses as a financial power is again taking snape. There are no more idols, no more inflation, no more insane pursuits of tones Jatui—only a reasonably safe, wholesome business. We speak ofthe present moment. THE STOCK MARKET to-day was in a condition which could not be un- derstood from hour to hour. Its fluctuations, with- out being wild, were without apparent cause, and those who assumed risks did so lixe gamblers in any game of chance. To illustrate, Western Union Dpened at 56, advanced 34, fell otf to 5534, recov- ered, declined, and at the close advanced to 574. Harlem declined trom 110 to 119, sold Qgain at 110 and closed at 109%. Central began work at 88, sold up to 88\, down to 88, advanced to 89 and closed at 88%. Pacific Mail sold at 317; a 32a 323; a 324; a 32.033. a 33K; Rock Island at 90% a 91 a 9% asad aca B1%; Erie at 454 a45a45% a 454 adyadiya 44% 245; Lake Shore at 6714 @ 674 66% a 66% a 067% a 67 B O73 a 66% a 66% a 67% a 66% A672 OTK 8 6834 a 68 a 68};. Nortnwestern common sold at 40% a 40 a 89%) a 395 240% A398 38% @ 3944; St. Paul at 30 a 3034 a 31. a 31%; Union Pacific at 194 a 19% a 1994 21935; Wabash at 4144 a 42 a 42%; a 4234 B41), a 415 @ 4254 a 43.0 4334 a 43%; C., 0. and I. ©. at 22a 21% a 214a22a 21% 022, Ohioand Mis- Sissippi ranged from 25% and 263; to 27. Delaware, Lackawanna and Western was comparatively Steady at 8914 289 8915; Panama at 93 4 94; New Jersey Central at 90; Pittsburg at 80. THE MONEY MARKET, It is pleasant to record that money to-day was in | 2y0 Jarger supply than it kas been since the reopening of the Stock Exchange, ranging from 1-16 to 7 per cent untii one or two o'clock, and thereafter at from 4106 per cent. Greenbacks were quoted at1-16 a per cent premium. No bank statement was issued to-day. The outstanding legal tender circulation “has decreased $400,000 since Friday. The Govern- ing Committee were in session to-day considering, among other things, the report of the committee appointed to consider plans for the establishment Ofa clearing house for the Stock Exchange. It is understood to be the intention of the Union Trust Company to reopen for business at an early day, with an enlarged capital of $1,000,000, the new capital to be $2,000,000, There will be a meeting t which the matter will probably be days, was dull and neglected. Prime baakers’ rates were marked up to 106% for sixty days and 108 for short sight. There were some prime sixty day bills in the market as low as 106}; a 106%, and good bilis at 106, but short sight wus scarce at fuil Prices. There was nothing doing in commercial or Continental bills. THE GOLD MARKET advanced a trifle to-day, perhaps in response to the rise in the rate of the Bank of England, touch- Ing 108%, but subsequently it receded to 108% and closed at 1083j. The rates paid for carrying to-day | were 5, 3, 2, 4, 6, 7and 1-16 per cent. The final rate was 1-16 per cent. The prices of gold to-day were— 10.4. M. 10835 10:01 A. 10533 10:02 A. M. 10845 A. M.. 10555 108% 108 34 10834 The specie shipment to Europe to-day was $120,000, and for the week $226,000, principally silver bars. CLEARING HOUSE STATEMENT. Currency exchanges, Currency balances. Gold exchange: Gold balances 2,458,610 2,606,063, .619;261 IMPORTS AND EXPORTS, » The foreign commerce of the port for the week Was as follows:—General merchandise imports, in- cluding dry goods, $4,918,00 produce exports, 67,025,771, and specie exports, $396,429. The total merchandise imports since January 1 are $328,109,800, against $55,230,494 last year and $05,990,256 in 1871. The total exports of produce wince January 1 are $230,572,129, against $177,599, 100 last year and $183,267,301 in 1871, The total ex- ports of specie since January 1 are $42,387,291, Bgaimst $59,859,425 last year and $61,717,646 in 1871, THE FOREIGN MARKET. The most important news by cable to-day from London is that the Bank of England has raised its fate of discount from 6 to 7 per cent—a change Which indicates with what concern the financial magnates of England are watching the outflow of builion to America, ‘Twenty-seven thousand pounds in bullion was shipped from Liverpool to New York to-day by the Algeria, The steamship Koenig Wilhelm 1, which left Southampton for New York to-day, also took £60,000, The London Gespatches report consols barely steady, Amert- can securities, a8 aruie, were dull, sixty-sevens being exceptionally firm ana higher. Erie was ‘weak and fell off from 3934 to 38%. Rentes at Paris ‘were buoyant and advanced to 581. 25¢, At Frank- J fort, '62 bonds were firm at 97%, GOVERNMENT BONDS, -~ Government bonds are onsettied. if not. indeed. foreign exchange, as usual on Satur- | 3 rs + $54,514,917 | NEW “YORK: "HERALD, ‘SUNDAY, OCTOBER’ 19; 1873-QUADRUPLE SHEET: somewhat feverish, under the possibilities of an arrival of bonds here from abroad, should the dim- culties in the London situation necessitate con- tinued advance in the discount figure. We note sales old 1865's at 107%; new 1865's, coupon, at 110 @ 110%, and coupon ten-forties at 106. The fol- lowing are the quotations:—United States sixes, 1881, registered, 110 bid; do, five-twenties, 1862, coupons, 105 bid; do, do., 1864, do., 105 bid; do, do., do. new, 1865, 110 @ 11054; do, do., 1867, do,, 112; do, do,, 1868, do., 1103 bid; do, ten-forties, regis- tered, 103 a 104; do. do., coupon, 106 bid; do. sixes, Pacific Railroad, 108% a 10944; United States fives, 1881, coupon, 1064 a 106%. RAILROAD BONDS. ‘The demand for these was moderate, We note sales of the following:—Southera Michigan, sink- ing fund, 101 9 100%; Union Pacific, first mort- gage, 7434 a 74% @ 744; Union Pacific sevens, Jand grants, 66; Alton and Terre Haute, income, 75; Chicago and Rock Island and Pacific sevens, 98; Cleveland and Pittsourg, fourth mortgage, 843; a 84; Columbus, Chicago and Indiana Central, sec- ond mortgage, 58; Toledo, Peorla and Warsaw, first mortgage, Western division, 78% @ 7834 @ 79; Pacific Railway of Missouri, second mortgage, 70; Ohio and Mississippi, second mortgoge, 77; Delaware, Lacka- wanna and Western, convertible, 94, Central Pa- cific gold bonds, 90; Union Pacific, first mortgage, 74. The following were the latest bids:— Tol & Wab 2d m. ‘Vol & Wab cons mi Erie oth wn 7's, "88. Chi, Bur &QSpe, Ist..105 Mich co 7 pe.fd m. Co wo 86 036 $2 Morris & Essex :dim.. 93 Cen racic goidbds... 87 NJ Cen Ist m, new... 10% Union rac Ist m bds... 73 atts etW & Chic 1st. .1U1 Union Pac lg 7's. . 64g PityetWaChie 2d m., 974g Union F income 10's, ... 52 Clev & Pitts con s1. 2 1 Cen 7?s,'75... 00 Oley & Pitts 4th m. 8 p 74 Mil & St Ist m, a £3 Chic & Mil st m2..." 88 8) Gol, Chie & Ind 2 m.>. 573% ‘ol, Peoria & War, Wa 79 Del, Lack & W Istim.. 9% Tok P & War Bardiv.. 70 Del, Lack & West 2m. 97 Ne’ ‘Tol'& Wab ist, StLd 79 Bost, H & E Ist m.. SOUTHERN SECURITIES were without interest. Tennessees sold at 70; ot 2 Missouri sixes, 8744; Virginia consols, 45, and | South Carolina, January and July, 10%4. The latest bids were as follows:—Missouri sixes, 873s; Ten- nessee sixes, Old, 70; do. do, new, 70; Virginia sixes, old, 33; do, do., new, 36; do. do., consols, 45; do. do,, deferred, 8; Louisiana sixes. levee, 50; do. eights, do,, 58; South Carolina sixes, January and July, 93g; Texas tens, 1876, 80. THE COTTON MARKET. On ’Change to-day there was less activity in cot- ton, and while ‘spot’? was unchanged, futures suf- fered a decline of 1-16c. a 3c. per pound. Flour was in moderate demand at unchanged prices. Wheat and corn were moderately sought after, and the sales aggregate a fair total, with better prices realized for both, HIGHEST AND LOWEST. The following table shows the opening, highest and lowest prices of the day:— Opening. Highest. Lowest. N.Y. Central and Hudson River stock consolidated. 88% soy 110 110 453g 4555 6755 685 Aschdae 4333 10 4055 x | Northwestern preferre 6534 6535 Rock Island. 90% 91% Fort Wayne. 86 86 86 Milwaukee and St. Paul 30 Bly 30 Milwaukee and St. Pauipref. 56 56 56 Ohio and Mississippi........ 2624 26% | New Jersey Centrai.... 9 20 New Jersey southern 16 16 Union Pacifi 1936 19 C., ©. and L 22 2134 Pittsburg... 7 7815 Western Union. 554 Pacific Mail.. 31% MEMORANDUM, The earnings of the St. Louis and Southeastern Railway (consolidated) for the week ending Octo- ber 8, 1873, were St. Louis d.viston. Nashville division. Total.............. sesceeecveeescesceees Earnings duriug the same week last year. Increase... « divtg 85000 U 8 6's, cur. 10 A. M.—Before Call. GO shsLS&MSRR.c 673% 50 ct 7. & BRECKER ee = Ls Ez: wae H i [ $7000 Del, L&Weon.be tos e Bs 700 shs Md Coal Co..... 20 Con mm of Md. be i szartagonentgy ors a, J eee meee esc +-4-4 = Bz =e pel RSs eSESESESSESEEEEES ee 2to3 P.M 100 Pittsburg 800 Panama RR. do... 100 Chi & N W RR, 4 5) do. CLOSING PRICES—3 O'CLOCK P. M Western Union. Quicksilver... 2 Adains Express. 5134 a Melleueiao Be 60 Eee BEKOv OTS ro! ee TEESE BOSTON WOOL MARKET. Bostox, Oct, 18, 1873, ‘The wool market during the past week has been quiet, with no change in prices. comparatively sinall, as such lots as may be Wante the unsettled state of financial affairs, aud while dis- counts on first class papers are so difficult th Combing and delaine fleeces are not ¢ other descriptions of wool, but buyers nd have purchased for unwashed. there are no surplus stocks of any ki and the only check to the upward tendency of prices is the unsettied condition of the money market. have been made of Ohio treble extr Ssée., Michigan and Wisconsin fleeces at He., combing and del: ., unwashed combi ‘ashed and unmere! 55c. B8c., tub at She. a Sie, and spring California at 26c. EUROPEAN MARKETS, Loxpoy Moxey Manxzr.—Loxpox,, Oct 1812:80 P. M.— count. United i Railway shares, 4 —krie Railway share: “mis Bounse.—Loxpox, Oct, 18—4 P, M.—Paris de- 8 quote rentes at S8f. 25c. Fraxkvonr, Oct. 18—United States 97% tor the issue of 1862. 8 MAmcer.—LivERPooL, Oct. 18—2 P. M.— @ basis of good ordinary, deiiver- Sales of uplands on the basis of November and December, at 8 Of the bales to-day 5,40 bales were American. ood ordinary, shippe fon to arrive ate: Sales of uplands o1 able November, at 87d. good ordinary, shipped 3 on the basis of October and November, at 834. Cot! | transactions. The market is duli and unchanged. ing 2.000 tor specu.ation and export. ISIONS MARKET.—LivERPOOL, Oct. i per tlerce tor new mess. Cheese, 6/s. e best graces ot American fine, ARKET.—LONDON, Uct. 18—Refined Loxpoxn PRopuce 4} petrotem, 15341. a idd. per galion. + > + FINANCIAL, BROKERS, 74 BROAD- ‘old on commission, for ileges in stocks negotiated, s, mailed to any address. T REASONABLE RATES—MONEY ON LIFE AND Y, y.—Stocks bought ands investment or on margin ; p: culars, explaining privi HABRICH & CO., 117 Broadway. GOOD SECOND MORTGAGE OF $500 ON BROO: im, roses Property w G il be sold tor $400. Ad- TLANTIC NATIONAL BANK, on above bunk bought by PARTY HAVING SOME EY TO E Wishes to purchase a $5,000 or $10,000 Mortgage on New York city property. Address box I SUM OF $10,000, $5.00 AND $3,000, FIRST MORT- gages, New York; $5,000, $5,000, $3,500, tor Brook. nly’ address i. . A. iyn first mortgages. box 1 Herala oiice. 7 BANKERS AND TREE, YORK.— GOLD BOUGHT ON SATIS- INTERES?! ALLOWED ON 100 do ° 100 Pac RE ot Mo 300 Erie RK $2800 Va 6's, consol... 45 100shsUn PacRR JOULO Missouri ’s,. 8734 Buy a BOW 1e: a 2000 Tenn 6's, new WOW SC B's, n, J & ‘3000 Mich Souta s 200 do ; 1000 Un ¥ RE Ist im. 1000 do. 1000 do... 1000 U Pac 7's 1g 1000 Alt & TH inc 10 C & RI & Pac 5000 Cley & P 4th in 40 do, 0. 1 Cen RR. Ri S 3000 C, © & 162d. 10OWT, P & W ist, WD 7 UU a . i 1 10) Chi 4 Wit. ee § do. bs ( Uh aN Wot. 4 100 Bil & St Paul 0, ONY. NH AH Rit AL O66 rn 70y krie Rik 300 do. 100 do. Sees: 3 Pr Fd GHA BtIo.. be 8 55 Chic, B & @ Rib © 4 20) Olu Mis 2 do. 100 100 DAILY BALANCES, ' £. C, BENEDICT, R. P. FLOWER, H. H TRUM. NOMMERCIAL WAKEHOUSE COMPANY OF N York, No. 29 William street. New Yor, October 13, 1373. * Board of Directors have this day deciared & qua’ y dividend of two and one-half per cent on the cap’ tal stock of the company, payable on and atter Novem: ber L. The transfer books will be closed from October 31 until JAMBs CLYNE, Secretary. WANTED TO P island Property. RI 62 Cedar street, secon: : SIAL PAPER BOUGHT AND sold by J. A. HOYT & CO.,33 Wall street. Loans made on bond and mortgage. MIRST CLASS CITY AND TOWN BONDS, ISSUED pal purposes, for ANIBL A. 8 Ge & POOTE, Banke Z 12 Wall street, New York. We make dealings in governient bonds and gold a | | First Board—10:30 A. M, | Orders executed In stocks and bonds on commission in, Interest allowed on deposits. AVING THE CONTROL OF A GERTAIN CLASS OF Joans where, through them, there is absolutely no ake confidential arrange: their securities. | Fisk, a downtown firm would ments with @ capitalist to tr muneration over ten per vent. Addre i. Tak, box 19 Herald office aia CTS Gold and Stocks nought and sold on mergin, Y one to speculate reierences, mulied lanatory circulars wi pons of the First Mort ‘gaze Bonds of the New fe Railroad iulling due Novewber tber 1 next will office of Messrs, Duncan, sherman & Co., No. Ll 'Nassau yEW YORK CIty. GWYNNE & DAY, 1 EW YORK STATE GOLD o's, | bonds have a lon gold bonds of the gover! —¥OR SALE BY wer time torun than any issue of ument or Sew York State, and ai the most desirable investment now In the market for sav- Hardians and others, Por sale by ” AND “CALLS,” ~$i0 TO ~ $100 WILL ecure these privile No rink operat- et on this plan. Many of these contracts during the panic paid several thousand dollars profit, honored by the makers, 32 page ox- t malied for samp, and all been dat np; orders executed INE VUMBRIDGE, Wail street, New York. “LONG” OF STOCKS AND sold out, owing to insufficiency of margin, ean re- cover advanced price of th ELLOR, box 143 Herald ofc AILROAD STOCKS AND BONDS advertisement ‘Montelair,” in Real Estate for Sale, TUCKS OR BONDS WANTED-FOR A Count ho ie at Madison, WN, le Montgomery str PAID TO EXTEND SECOND MORTGAGE ‘one year of $2,00) on Brooklyn pro ll; Oper cent or value, Address A. e. AL ker and Brokers 39 ARTIES HAVING BEEN Address OOUN- WANTED.—SEE id a block of Lots even WANTED TO Yar ind GOOD FIRST 5, Mortgage 9 $5,000 on $6,000 AND $7,000 TO LOA’ fiee§ © P. M.—Before Call. in shs West Un Tel..c 55% 300 80 “ores hg ected dc 100 doo do. Fr nm SS Fo oo: 70 N AT ONCE on New York Property on second m\ fo loan ou first mortaage, wi $ 61,00 i, 8. WOOD, Ji WANTED—oN “MOI th high position. ‘Addeess Re TO LOAN—ON BOND AND i ; fie tetaeaeb - aye suit; also for the $217.000 rar V2 SSE Rit86, 08 sixth aveane, My had at fair discount ven A THE PINANCL PROBLEM. A Further Advance in the Bank of England Rate to Seven Per Cent. Decadence of the Influence of the ‘Old Lady of Threadneedle Street.” What Will the Joint Stock: Banks Do? OUR GOLD PREMIUM. The Foreign Exchange Market, the Money Market and the General (Imported) Merchandise Market in Their Re- lation to the Situation, Miscellaneous Notes from the Late Panic. THE COMMERCIAL STATUS. Further Views on Resumption from Practical Business Men. ‘The situation in Wall street yesterday does not present any new features, Money was more free in its movement, closing at five per cent, although higher rates were paid during the day. The stock market, after a weak Jeeling throughout the day, closed steady, with a firmer expression, Old Dan Drew, the great martyr (?) of the late crisis, was found wanting, on inquiry, and some of his friends, dropping into poetry, AFTER THE EXAMPLE OF SILAS WEGG, explained his absence thus, quoting Shake- speare:— Constant at charch or ’change, His gains were sure, His givings rare, Save for things to the poor. ‘The devil was piqued such satntship to behold, And longed to tempt him, like god Job of old; But Satan now has grown wiser than of yore, And tempts by making rich, not making poor. (Sic.) THE ADVANCE OF THE BANK OF ENGLAND RATE predicated here yesterday shows still further the purpose of that institution to stop the flow of bul- lion to this country—if it can. But, with England and France having a starving population—the word starving to be used in a comparative sense— whatcan the Old Lady do? She may let the opera- tives famish in the manufacturing districts—such things have been—but can she dare it now? We do not think so; and, although we are without the rate in the open market to-day, we cannot but regara this strain of the time-honored institution as beyond the requirements of the case. The danger to us from the effect of this action of the Bank of England upon the London market, if the joint stock banks are not strong enough to apply the corrective, is certainly serious. As we said here yesterday, it is a struggle in which, despite our direct interest in the result, we are interested speculatively also; the struggle being BETWEEN THE JOINT STOCK BANKS AND THE FAMOUS INSTITUTION OF THREADNEEDLE STREET to control the money market. This is an age of iconoclastic sentiments, and if the Old Lady has falien under the hammer where are we? Precisely where we should be; where is our natural condition; where, the basis of exchange being accepted, the actual exchange rests upon a common confidence and trust. Outside of that we are a pauper country to-day. If we don’t believe in one another, have confidence in one another, trust one another, there is not specie enough in the country to liquidate our claims, Do not let us get excited over the cries of the bullionists. Specie payments are far away irom us, and it ts question- pa resumption would benefit us asa people. MUCH CAPITAL IS KEPT IN THIS COUNTRY by the large gold premium which has ruled, not of Jate, and prevented its profitable transfer abroad; and with such a large foreign indebtedness in the way of interest upon our ovligations held abroad and our ordinary mercantile obligations, the story of early resumption is simply the announcement of an experiment, if it be attempted. Reports from London indicate a sharp effect ot this action of the Bank of England, in which many small enterprises are likely involved in ruin. We. oi course, are in- clined to deprecate any considerable disturbance on the London market, which would naturally have its effect here; but this fact remains, that our crops are wanted in Europe and that we have the material to ship. GOLD WAS STEADY to-day, ranging from 1083¢ to 108%. In the loan market from 3 to 7 per cent was paid for carrying. FOREIGN EXCHANGE. In the foreign exchange market the foreign news Sn created a demand ior demand and short sight bills, which caused an advance in the rates of tne prime bankers to 108 against 10744, on Friday, and to-day bills are also up to 106% for prime, and commercial bills are quoted 10544 a 106. Outside of the demand from the banks lor short sight the market is dull. Yesterday’s steamers lor Europe took out $120,249 silver bars. ‘The following is the report of specie exported from the district of New York for the week ending October 18, 1873:— October 16—Brig George, Arroyo, American gold.. Gctober 16—Steamer Java, Liverpool, silver vars October 16—Steamer Biles! fs, ‘silver bars October 16—Steamer Silesia, Hamburg, silver b: October 18—Steamer Tybee, iT aa ls—steamer Parthia, Liverpool, silver October is—Steamer City of Paris, Liverp. box gold bar: Silver bars rg Total.... MONEY. There is noimportant change in the condition of the banks as reported to the Clearing House yesterday morning. In mercantile circies the feel- ing is improving. At the Stock Exchange the mar‘ kets were quieter than on Friday. Money is easier- good borrowers on call getting their loans at 7 a7 gold, and prime mercantile paper selling more reely at 12.418 per cent. The receipts of currency from the interior are increasing. Legal tender notes were ata premium yesterday of } a { per cent, closing at 1-16, OUR IMPORTS, The total imports of dry goods and general mer- chandise for the week amounted, in coin valuation, to $4, Hesty of whi $1,604,537 were dry goods, and $3,213,463 general merchandise, The total last week wi 7,219,707. ACTION OF THE GOVERNING COMMITTEE OF THE STOCK EXCHANGE, At a meeting of the Governing Committee of the Stock Exchange yesterday alternoon the Commit- tee on Clearances, of which L. T. Hoyt is chair- man, submitted a report embodying @ plan for effecting clearances at tne Exchange. After discussion @ committee of the governors was appointed to conier with the other committee on the whole subject and report at @ future meet- ing. This new committee consists of A. B. Baylis, RL Mag! 8. T. Russell, Reuben Manley, John T. Denny, liiam Nichols and William Seymour, THE UNION TRUST COMPANY, It is understood to be the intention of the Union Trust Company to reopen for business at an early day with an enlarged capital of $1,000,000, the new capital to be $2,000,000, There will be a meeting on ney, at which the matter will probably be ae- led. THE PUTNAM COUNTY DAIRYMAN REFUSES TO BE MILKED JUST YET. The Bankruptcy proceedings of Willlam L. Scott inst Kenyon Cox & Co, came up before Judge Biatchford yesterday, being the return day for order to show cause why they should not be de clared bankrupts, Mr. Alvin Burt appeared tor Daniel Drew, and Messrs. Van Cott and Winslow tor Kenyon Cox, Wiillam H. Hutchinson and Hor- ace Manuel, iked an adjournment for one week to answer. john Sessions, attorney for Mr. Scott, consented, and the proceedings were — til next Seturday, at eleven o'clock A ON THE PRODUCE EXCHANGE. Flour at the opening was irregular with a larger ipping jes, ri demand for brands were dull and heavy, family brands steady and quiet, Shipments of ‘wheat are restricted by strong freight although yesterday, with continue moderate arrivals, a fair faaey favored sellers. ‘was steady and quiet it 16% C. for low middling and 16%c. for In addition to the views siready aiven of busl- Sais ren we spread the Ruowin additional con. tribution of intelligent thought to this subject :— Mr. Steinway, the eminent piano manulacturer, thinks the present time a very auspicious ove for the resumption of specie transactions, Prices of all Kinds of manufactured goods, domestic as well as foreign, would, of course, shrink in conse- quence, but that would not affect the intrinsic Value of the country’s wealth in the aggregate, We must at once try by exportation of American products to create @ balance of exchange in our favor, And this we can achieve by a more liveral exportation of breadstufs chiefly, which are so much needed in Europe, It is hardly to be expected that all our former large supply of silver can be hoarded up and the interest lost on it for the last fen years. It must have been exported to China and Japan. In poor countries like these silver 18 absorbed, All that goes there stays. No one ever heard of gold being exported to Asia, but every- body knows of the vast amounts of the other metal sent thither from the United States, England and Mexico, Hence WE HAVE BUT LITPLE SILVER AMONG US, notwithstanding the vast quantities taken from our mines, and jor these reasons, if not or others equally strong, we could not use silver as an ex- elusive curreacy. General Grant's views are, doubtless, sound on this great question, but it 13 ane Perceive how they will work in prac- A gentleman belonging to one ot the wealthiest importing dry goods firms in New York says that there is nothing whatever to prevent the imme- diate resumption oi specie payments, If the banks would resume specie to-morrow nobody would wantit. The secre would be very well contented with their pills. A business man does not want nis pockets stutied witha weiguty metal, when a light, convenient note will answer the purpose just as well. Goid is only usefui to shippers, and its utility to them should be done away with atonce by Con- gressional action making greenbacke receivable in payment oi customs and other duties. If the Gold Room were abolished that metal would soon find a lower level in the market and specie payment might at once be commenced. Silver is now down to nearly a par with currency; but it could not be- come a general circulating medium because of 118 bulkiness, WE MUST EXPORT MORE of our cereals and other home produce, 80 as to leave & margin of exchange in our favor, Then gold will of itself resume its former place in our commercial transactions. A gentleman representing the well known firm of the Messrs, Remington says, that the wa) things are now specie payment cannot be resumed. Even if it could it would make sali difference in the end. ‘fo bring it about it is only necessary for Congress to declare that a greenback dollar means 100 cents in gold. This nas never been done by Congressional enactment. Ii it were why was there @ clause in the Legal Ourrency act Rene jor the payment in gold of all import and other duties? Now let the country will that currency be a legal tender for import duties and all government transactions wherem gold only is at present acceptavie. If it does we will at once be back to specie payments. Tnere will be no longer a motive to hoard goid or to make corners ofit. The greendack dollar, answering all the pur- poses of coin, will reduce metallic currency to its own level. It is, therefore, only necessary lor Cou- ‘gress to declare the greenback dollar as good as 100 cents gold—that is, making tt acceptable by the United States in payment oi duties, &c.—and we are back to specie circulation at once. CHEAP TRANSPORTATION. Session of the United States Senate—Com- mitiee on Transportation—A Trip on the North and East Rivers on the Police Boat Seneca. Ashort and probably final session for this city of the United States Senate Committee on Trans- portation was held yesterday, at the Fifth Avenue Hotel, Senator Windom, Chairman. At the opening of the session Senator Windom Stated that he had observed in a newspaper of that morning @ lengthy reierence to a scneme for keep- ing open the Erie Vanal by artificial heat. He wished it to be understood that no such plan haa been submitted to the committee. He understood that Mr. Cheesebrough had had an informal conver- sation with the Secretary of the committee, Mr. Nimmo, and left with him some pamphlets that he believed set forth the scheme in detail, The com- mittee, throughout their inquiries, had studiously avoided receiving any proposals as to mechanical inventions and schemes that were only of a per- sonal origin. Mr. Horace H. Day gave some evidence as to pie terminal facilities ior shipping grain to ne West. At about twelve o'clock the committee left the hotel and were taken in carriages to the foot of West Twenty-fourth street, where they embarked on board of the Police boat Seneca and were re- ceived by the iollowing gentlemen, members of the Cheap Transportation Association :—Messis. F. B. Thurber (Secretary), E. R. Durkee, 5. M. Parker, 0, R. Baker, James #yon, Robert Taylor, Theodore F, Lees and M, Blivehard, representatives of the Erie Railway, and mr. Rutter, of tae New York iosier and Villiers, agents of the Pennsylvania ntral Ratiroad, The [ore were in charge of Cay ain Seebert, of the River Police, The boat scamed up the North River, and the Sen.tors were shown the arrangements for the traussuipment of wheat oa the New York Central Raiiroad pier at Thirty-iourth street, then the site of the proposed new elevator at Filty-second street; also the new cattle sheds, ‘They were then shown the terminus of the Penn- Mie Ceutral and the Erie Railway, at Jersey ity. From there they proceeded to the Atiantic Dock, and from thence to the Hell Gate improve- ments, which were carefully inspected by the Sena tors. On board a beautiful lunch was provided- which the party had an pee at aid enjoying, duiing their voyage along tne North River. The committee left New York for Washington last evening. They will proceed fo Richmond irom Washington on Tuesday morning, and from thence to Cincinnati. THE OCEAN HORRORS. The Brutality to Sailors on the Ship St. Charles—The Shanghaed Crew of the Ship Baltic. In the HERALD of yesterday appeared extracts from the Alfa California detailing the brutality of the first and second mates. Harris and Wright, towards the sailors of the sifp St. Charles. The Alta of the 11th announces the arrest of Wright and his incarceration in jail in default of $1,000 bail, by order of the United States Commissioner, Harris is still at large. The Alta thus refers to the ship Baltic, also of this port:— The Alta yesterday briefly gave all the facts of the arrival in this port of the ship Baltic, irom New York, with a Shanghaed crew, and some of the cir- cumstances which led to so strange an occurrence. One of the crew, a young man, by profession a car- penter, made a full statement of the incidents attending his untortunate forced voyage of 18,000 miles before the mast, to the Assistant District Attorney, Mr. Morrow. He told him, substan- tially, that he had been kidnapped and forced on board the Baltic by a sailor ianalord, named Glee- son, in New York, and that he was made to believe that resistance would cause his death in some secret manner. The poor fellow was scantily clothed, and Mr. Morrow generousiy gave him decent and comfortable garments, which changed his appearance very much. But the United States attorneys did not stop here, although it was supposed they could go no furtner, They very properly came to the conclusion that ihis system of kidpapping American citzeus is @ disgrace tothe laws aud. the nation, aud they have determined to use their best offices to break itup. The District Attorney filed a libel in the United States District Court yesterday, claiming that, in accepting sailors outside the Shipping Com- missioner’s office, the captain violated the act of 1872, creating the office of Shipping Commissioner, and that the ship is liable for tie amount of dam- fe8 imposed by the act. e complaint, alter the usual formalities, alleges that the master of any ship of the burden of seventy-live tons or upwards, bound irom a port on the Atlantic to a port in the Pa- cific, should, betore he proceeds on such voyage, Make an agreement in writing or in print with every seaman whom he should carry to sea as one of the crew, in the manner and the form, and at the place and time asin said statute mentioned. That on the 10th of May, 1873, George F. Staple was carried to sea out of the port of New York, in the United States, as one of tie crew of the Baltic, then and there being owned, in whole or in part, by @ citizen or citizens of the United States, to the District Attorney unknown, and being then and there of the busden oi seventy-five tons and upward, and bound on @ voyage from New York to San Francisco, without the satd Stapie having entered into the agreement with the master of the Baltic, provided by the act. By reason whereof the ship Baltic forieited and became liable to pay to the United States the sum of $200, for the recovery of which this civil and maritime cause 1s instituted. Wherefore the District Attorney prays for the usual process against the ship Baltic, and that tt be decreed that the penalty atoresaid ve paid. THE HOBOKEN SAVINGS BANK. During the past few days the investigation into the affairs of the savings bank in Hoboken has shown a slight deviation from the result given by George Warren. The bank officials say that the excess of liabilities over assets is not $61,000, but only $62,000, Of this gum the directors have been romised subscriptions to the amount of $32,000. Renee the managers seml-oMolally say that they will be enab! to__ reopen institution 48 soon as Fisk & Hatch, Ponce ae oll return the $94,000 which t! owe to savings bank, The Treasurer, Mr. Huesmann, has been taken very fll, giving rise So enersl sorrow, he be- ing consi ered ‘one of the jew sterling men con- nected with the bank, It is universally hoped, ther with Messrs. Shi; will lend their nai public confidence im the interest of the thousands Of poor depositors THE COTTON AND PRODUCE EXOHANGES* Matters at the Cotton and Produce exchanges have been very dull during the past few days. ‘The state of feeling is one of uncertainty in both places, At the Produce Exchange it seems to be feared that there will shortly be a stoppage of trade arrivals from the West, and this causes an uncertainty i prices, which makes merchants afraid eitter to bay orto sei, Inthe meantime, shipments to Europe continue lively, and have had no failing olf; but these are greatly made from merchandise which has been in store up to this time. On the other hand, there is great anxiety to rush on shipments from the West, as the closing of the canals will have much to do in sending up prices by the increase in treights. , At the Cotton mxchange the feeling is equally duil, but from other reasons. The rate of exchange is at present very high, aud merchants have dif- fieulty in negotiating their bills. In consequence there is but asmall demand for merchandise, and in some instances the crops are not yet gathered, During one week the prices have fallen off more than six per cent, and experts believe that they wil fali off still further before there is any re- covery. Prices yesterday were firmer than the; have been. The beginning of the coming week wi tell more as to What the future prospects will be. In the meantime the receipts are very small, and the stock in market cannot last long, it is believed. ++ MARRIAGES AND DEATHS, Engaged. ALTMAYER—BERNSTEIN.—Betrothed, on Wedness day evening, October 15, SANDERS B. AUTMAYER, {sq., to HANNAH, daughter of Charles Bernstein, Esq., ail of this city. No cards, Married. ApPGaR—HvssBarp,—In Brooklyn, on Wednesday, October 15, at the residence oi the bride’s parents, by the Rev. C. W. Homer, Mr. Dewi J, APGAB, of Ithiwa, N. Y., to Miss AnBig H. HUBBARD, FEELY—COLLINS.—On Wednesday, October 8, by the Rev. Father Callahan, MICHAEL FEBLY to ease, daughter of George Collins, Esq., all of this. jaltimore papers please copy. ForResT—SAr¥oRD.—In Philadelphia, on Thurs» day, October 16, at the residence o1 the bride's sis- ter, by the Kev. Dr, Wadsworth, Dr. MoLToN H. Forrest, of tins city, to EMMA Louise, daughter of H. W. Safford, Esq., formerly of Philadelphia, GiusoN—WAKkING.—On Wednesday, Octooer 15, 1873, at the residence of the bride’s grandparents, by tue Rev. Horace G. Day, Gzorce W, Gisson, of Schenectady, to Carnie, eldest daughter of Mrs, H. GU. Waring, of New York. No cards. GoLpER—CALHOUN.—On Wednesday — evening, October 15, at the residence of the bride’s mother, by the Rev. W. R. Davis, SHEFFIELD GOLDER to HELEN L. CALnOUN, eldest daughter of the late Wiliam Calhoun, all of Brooklyn. KeLLY—-MATHEWS.—At Chicago, on 'Thuraday, October 16, at the Swede gorgin church, by the Rey, J. R, Hiobara, R. HowARnp KELLY, of urn, N. J., to ANNIE LAURIE, danghiter o1H. io Mathews, Esq., of Chicago (late of Brooklyn). Kipp—BxRaMe_E.—On Thursday, October 9, at St.. Ignatius’ church, Fortieth street, by Rev. Dr, Ewer, JAMES B. KIDD to ANNIE BRAMBLE, MAHON—AtTTRIDGE.—On Wednesday, October 15, by the Rey. H. C. Macdoweil, JAMES P. MAHON to FRANCES, youngest daughter of the late John Att- ridge, Esq., all of this city, (ANN—MAURER.—On Wednesday, October 15, 1875, by Rev. W. H. Ferris, F. A, MANN, of Wor- cester, Mass,, to AMELIA A., daughter of Chas. L. Maurer, 0; New York city. PATTISON—MOLLINER.—On Thursday, October 16, by the Kev. James Millett, at his residence, Joun Pattison, late of Roxbury, to Miss GEORGIANA MOL- LINER, all of this city. PHILLIPS—PAINE.—On Wednesday, October 15, at- the residence of the bride’s parents, by the Rev, Charles E. Harris, LOREN K. PaiLiips to Ei daughter of William Paine, Esq., all of this city. RUSSELL—JOHNS.—On Wednesdi October 15, 1878, at the residence of Mrs. J, W. Howard, by the Rey. E. H. Chapin, D, D., Invine L, RUSSELL, of Bos ip Mass., to ADDIE R., daughter of the late Dr, C. Johns, of this city. TRIER—RicH.—On Thursday, October 16, at the- residence of the bride’s parents, by Rev. Dr. A. Huebsh, assisted by Rev. Dr. Welsh, ABRAHAM S, TRIER to AMANDA RicH, daughter of Solomon Rich. VENCHIARUTTI—BIRDSALL.—In Rome, on Satar- day, January 18, ey D, VENCHIARUTST, Officer of the Italian Army, to MaBy K. BIRDSALL. WASH8URNE—RKEYNOLDS.—At New Castle, N, Y, on Wednesday, Octover 15, 1873, by the Rev. U. M- Eggleston, C, LEGRAND WASHBUBNE to HESSIB E., eidest daughter of Smith Reynolds. WESTLAKE—CHAMBERLAIN.—At Rahway, N. J., om. Tuesday, September 30, by Rev. Dr. Dowling, of New York, Dr. WARREN C. WESTLAKE to Miss ADDIB- CHAMBERLAIN, both of Rahway, N, J. WuirrLE—Woop.—In Brooklyn, on Wednesday evening, October 15, by Rev. Dr. Cuyler, HENRY ©. WuireLe, of New York, to JULIA Woon, of Brooklyn. No cards, Birth. FanquHarson.—In Brooklyn, on Monday, October 18, Mrs. G. il. FARQUHARSON, of a son. Died. ANDREW.—On Saturday, October 18, Mrs. Emus. ANDREW, Wife of William Andrew, in the 40th year’ of her age. The relatives and friends of the family Te- barney invited to attend the funeral, on Mon- lay, October 20, at the Central Baptist church, in West re Aang street, near Seventh avenue, at- one o'clock. BoODINE.—On Tuesday, October 14, Emma, wife of C. D. Bodine, and eldest daughter of Nathaniel M. Requa, aged 29 years, 6 months and 12 days. Relatives and friends are respectfully invited to attend the funeral, at her late residence, No, 254 East Thirty-third street, New York bag 8 on Sun- doy, October 19, at four o'clock P. M. je remains will be interred at New Hurley, Ulster county, N. Y. Capmvus.—On Thursday, October 16, 1873, RICHARD CADMUS, aged 69 years. The {uneral will take piace from the Reformed church, Bayonne City, N. J., on Monday, 20th inst., at eleven o'clock A. M, CAROLAN.—On Friday, Uctoher 17, at 265 West. Nineteenth strect, ELIZABETH, beloved wile of Ed- ward Carojan, in the 38th year of her age. Relatives and friends are invited to attend the faneral, from her late residence, 265 West Nine~ tcenth street, at half-past. one o'clock ; from thence- to Calvary Cemetery jor interment, Gallfornia papers please copy. CLancy.—On Wednesday, October 15, Mary, wife of Bartholomew Clancy, Creg ot Buttevant, county Cork, Ireland, in the 66th year of her age. The relatives and friends of the family are invited to attend the funeral, from her late residence, this day (Sunday), at one o’clock precisely, to proceed. to Calvary Cemetery. Corrgery.—On Friday, October 17, JoHN COFFERY, in the 62d year of his age. The relatives and friends of the family are re- spectiully invited to attend the funeral, from his: late residence, 150 West Twentieth atreet, on Mon- spy October 20, at one o’clock P. M. ‘ x.—On Wednesday, October 15, CHARLES, ‘oungest son of the late william Cox, of West joboken, N. J., in the 26th year of his age. Relatives and friends are respectiuily invited to attend the juneral, on Sunday, 19th ingt., at half- ast two o'clock P. M., from ‘the residence of nis rother-in-law, Thomas. Keynton, Esq., Palisade avenue, near Barclay street, West Hoboken. In- terment in Grove Church Cemetery, CurRRY.—On Saturday, October 18, 1873, MARY, youngest child of Lawrence and Bridget Curry, aged 13 montis, ‘The friends of the family are respectfully invited. to attend the funeral, from the residence of her arents, 368 West Forty-sixth street, on Monday,. ctober 20, at one o'clock P. M. Davis.—On Thursday, October 16, 1873, BERTHA a beloved wife of Herman Davis, in the 44tn year of her age. The relatives and friends are respectfully in- vited to attend the funeral, from her late resi- dence, No. 441 Third avenue, on Sunday, October 19, at ten o/clock A. M. The members of Lebanon Lodge, No. 9, I. 0. B, B., are respectiully invited to attend, LEBANON LopGE, No. 9, I. 0. B. B.—The members: of this lodge are hereby requested to attend the funeral of the wife of our brother, H, Davis, 441 Third avenue, on Sunday, the 19th inst, at ten o'clock A, M. By order of the President. S. HAMBURGER, Secretary. DEVLIN—At Washington Heights, 165th street,. | youngest daughter of John and Eliza J. viin. Funeral this (Sunday) afternoon, at one o’clock.. DUNHAM.—On Friday, October 17, 1873, alter a guort liness, Mrs. ANN ‘DunwaM, aged 76 years and 4 months. ‘The relatives and friends are respectfully invited to attend the funeral, irom the residefice of her: son-in-law, Andrew McBavarny, at 280 Rivington street. on Sunday, October 19, at one o’clock P. M. Ernst.—On Friday, October 17, at tne country seat of his father, near South Amboy, N. J., of scar- let fever, Orro, eldest son of Otto Ernst, aged 10 ears, The remains will be interred on Sunday, at two. P. M., in the private burying ground of the samily,, on sald premises. Frerz.—On Thursday, October 16, KARL ALBERT, only child of Kari Albert and Cornelia Fierz, and: grandson of B. R. Wakeman, fsq., of Jersey City. Funeral from the residence of his parents, 347 Lexington avenue, on Monday, 20th inst., at two o'clock P. M. FoLsy,—At Harlem, N. Y., suddenly, of scarlet: Jever, EDGAR ALVERTON, youngest son of John R.. and Clara 4%, Foley, aged 3 years, 2 months and 21 days. Washington (D. C.) papers please copy. For.es.—On Thursday, cecover 88, DaxTEL. FOILks, aged 58 years, mane Feiativen ind friends of the teme Ly a cg ers 0) leghania OU. F., are respectfaily invited Br ateendt he funeral, on Sunday aiternoon, at half-past one o'clock, irom the Norfolk street Methodiat ah eaee) % Dearest father, thou hast left as, And thy loas we deeply feel; heal, L 0. or 0. F.— mananenc toe ane "hereby nstited eo aeane, © jal ication of yo! 1Bt Canal sired on Bund ', at Baitoase twelve "lock, the last tribute of et to our tate worthy brother, Daniel Polen bretaren of siatr lodges are cordially InrHHd een, Na.