The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-07-28
The New York Money Market.

Efort The ~. Y. Herald Of TO day. ..
1.-THE gold market showed a strong upward
tendency yesterday, OSteustbly In CONSEQUENCE
of the concurrence of both Houses OF Congress
in the report of the conference Com mlttee upon
the Funding bill As, however, the latter does
not make conversions of outstanding bonds
into the new stock compulsory, and as IL failed
TO uniavoraOly affect Government securities in
the least, the upward course of the premium
must be attributed TO general and Speculative
Tne fluctuations were from 1887 at the OPEN
ing to l44A, with the closing transactions
prior 10 the adjournment of the board at LA,
follow ing which the quotations advanced to
4i1S@l44H. There was "A moderately active
borrowing demand for coin, and loans were
made at two and three per cent. for carrying.
The gross clearipgs amounted to S2S,lO6,000, the
colo balance 20 81 1877 BAG, and The currency
balances TO sl7S5,7O3. rhe imports of specie
from eign rts at this port last week
amour ed 10 s87 Oo9, making total OF "a, I57 500
since the LIST of January. The disposition to buy
gold on speculation for rise is more
general than it has been for long time
past. ana there is much in the CONNER
cial position of the country to sustain
the premium at It's present point and
under such circum stances never fails to stimr-
late its natural tendency. There is a large mer-
camille can't short" interest ontstanding, and the
a standing argument in their favor in the ex-
tent To which our securities are held in Europe
But for the wreched financial policy of Con-
eress and the Treasury. however, since the ter
mination OF he war the premium would have
disbursements OF coin interest by the Sub
Treasury during the day amounted to S24l, 900,
S3l4,S50"
From the NJ Y. Tribune of TO. day.
"Money is abundant ut 3@p4 per cent. with the
largest amount of transactions at per cent.
Government dealers are run down with applt-
cations 10 loan at this rate, and some balances
are left al 2 per cent
"SterIing exchange was firm at quotations.
London. so days. ll0L; London, signt, 1l056;
Paris, long, 5.l31s@5 l2lS; Paris, short. 5,l056
Antwerp, 5'l6AG5 l5 Swiss, 5l6l4@5l5; Ham
burg, 361st@3614; Amsterdam 4lA@il3s; Frank-
fort. 4l@4lA Bremen, 7954DS0 Berlin, 712s072
The Funding bill adopted in Joint Commit
tee, and passed by the Senate yesterday, now
only needs the signature of The President to be-
come u law having passed the House by vote
OF l0l TO ~. Its passage had no effect on the
price or bonds. and 1t will probably become q
dead letter Perhaps II may be used tor political
buncombe by members Of Congress-, who will
| go before their constituents claiming to have
used their best Efforts tn reduce the public bur-
deDs by a reduc ion of Interest; but the bill will
not satisfy the holders of bonds anybody else
| that ex pected any financial sagacity from Con-
| gress 1t appears TO have failed entirely to com.
| prehend the situation
| "The Transact ms at the office of the Assistant
Treasurer were: Receipts - For Customs
S475 600: for Gold Notes $l62 OOO total Receipts
S3,305 975'l 'l6 total Payments, S28S3. .5OL39; Bal
ance SSl, ,7S6 9iSI9. - : =
"In FIeights-to Liverpool by steamer--76OO
bushels Wheat at SGD $50 bbls. Flour at Is.
| I'D; and zOOO boxes Cheese at 25s."