Antelope - Seligman Bond trading

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Antelope - Seligman Bond trading - - Tbdtaneto8eroatla thtBanK of England rate,...
- Tbdtaneto8eroatla thtBanK of England rate, the decrease of bullioni ana toe neayy zau in coicon in vum war ket, vera the chief t aatnret in finaneia ttoJrfttenlfTarWB oral enbuah when It" Is considered thai Ed eland will now be drained or much o! the capital sent there during tae war, bnt the initial advance made yesterday, it la Tirattr olear. has been." disooautedV or consols and bonds would not have re; mained unmoved under it. I Whether zurtner4turns oz too aorew will findthem equally calm, remains to be seen. Franoe is soon to oome into the London Market as a heavy aorrower, and the effect of loans there raised must be against the present rate for money and the present prioe of aecuritiea. 16 has been reported here within a few days that France would raise her loans at home, but this is aearoely possible Hith erto she has been able to do this, but her .people are too, impoverished ch a thing , to be thought of at t For even- the small loan re- a few months since to carry on v she was compelled to seek for it don, and upon the London market fall for her new loans. The effect of the higher rate of inter est abroad was to send rip the premium on gold, this morning, from 10 to 11 ; but the latter figure was not maintained when it was rumored the shipment of specie tomorrow would be light Bankers win not sup specie es long as they can cover with bills, and they appear to be still able to do this. Another aavanoe in tne nana; race. however, will be apt to send the speoie forward, and it may go before that period should the demand for exchange im prove. ' To-day it is firm at 8 -10 less 1-18. with all the houses, except Morton, who is Dfc 10 net and Belmont, who is 9 10, also, net. The cotton market took a serious tum ble soon after the opening, and the plant ers of the South cannot but feel deeply depressed thereby, .How -fax it will affect the next crop (the plant ing of whioh is near at hand) is a question nowengaging considerable at tention. When the planters were patting in their Crop a year ago, cotton was worth 24o., and to-day it is 14c, or a drop of 10c per pound. If labor is no$ more available or eheaper than last year, is it reasonable that they can or will prepare for so large a crop T Some of the bankers here look to a drop to 12V18c before the bottom of the market is reached, and if this should prove the case, there is no donbt the area planted the coining season would show a material redaction perhaps to the ex tent of a million of bales. To-day there were sales at half a cent decline from the quotations of yester day, July deliveries being done at 14 a, against 14 c yesterday. March and April sold at 130. and May and Jane at 140. The sales at the decline were heavy, the market seemingly sinking from its own weight. There has been a sharp fight for the appointment of foreign agencies for the new loan, and firms that were thrown out have succeeded in getting back again. There was a tremendous ado because Belmont's house was one of the firms selected, on the ground that Belmont was a stiff Democrat, and a Benab-lican Administration had no business to appoint a Democrat to so important and lucrative a position. Bnt the administration did not appoint Belmont as agent. It appointed Rothschild as one of its London agents, and if Mr. Belmont happened to be his agent tn the United States, how could the Government Interfere f Not to have had Mr, Belmont, they would have had to have gone without Rothschild, and this was not deemed advisable. Then there was an effort to pitch out the Seligmans and J. 8. Morgan & Co. the latter represented in this city by Messrs. Dabney, Morgan &. Co., but this also resulted in failure, though for a few days there was decided uncertainty npon the subject, and when the list of foreign agents was officially announced these firms were left out. Yesterday, however, it was ascertained that they had been.daly appointed. What seemed to be desirable was,hat only such agents abroad should be appointed as would harmoniously work together, but this was. hot suooessful, though partially so. I find opinions very conflicting with reference to the success of the loan. The Treasury is, no doubt, working like a beaver to push it, but if report is to be credited, some of its measures are of rather a questionable character, and if so, they will assuredly faiL The loan should be left to nataral causes, and stand or fall npon its merits. A leading banker to-day expressed the opinion that, with easy money, $100,000,-000 of the loan would be placed in the next Bixty dayB. But if the money markets of' Europe and this country suddenly become tight, the loan will drag heavily. Antklopb. Tna Opera Flotow's Martha," or the "Richmond, Fair," was presented, last night, in presence ef a very select and appreciative audience. In its ensemble for su presea quired thewai in Lot wuiaae -of

Clipped from
  1. The Times-Picayune,
  2. 08 Mar 1871, Wed,
  3. Page 4

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  • Antelope - Seligman Bond trading

    chris72796 – 12 Sep 2013

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