The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-06


1oA; .;:"...... 1888 IF. M......."..... 1901
II A. ID .......... 1873 I. M............. lo9M
11:3oA. M.......... 13O1 2. M............. ISo
"a M........ ...... 1908 81. M.......l2s5S 13o
The record of the government salo ls given In
another column. The bids were for a total OF
$5,73ooOo The Westahalla took out $4,000 In
specie The Treasury Department IS now trans
ferring gold from the sno-Treasuty IN New Orleans
10 the Subrreasury III tn,s csy by the sale here of
endorsed gold certificates, parable in com ut the
SubTreasury in New orleans, which process
enables the Treasury to make the transfer without
risk or expense.
The driit OF the money market was TO sti!l greater
case, and lenders rather than let their balances 90
unemployed over night, were satisfied with as low
a. five per cent on call, at which rae money was to
be had IN good sums before three O'Clock. The great
bulk OF business. however, was at six to seven per
cent The prevailing abundance Of funds is due TO
several causes. The great shrinkage in values al
the Stock Exchange has primarily lessenei the
demand. II requires great deal less money to
carry stocks now than ii did a Iaonih ago. Again,
The demand from the West is comparatively light.
The shipments Of currency have commenced, but
the amounts sent are small. The decline in gold
has checked the movement OF the crops. The
farmers have in their minds the Old prices, and
arc loatn to sell; hence the retention OF
grain which, with Aig her premium on gold, would
ind its way to the seaboard, while currency would
ind It's way to the West. 1t Is curious 10 speculate
what Will be the eventual result Of this state Of
AFFAIRS. The more cynical fnanciers suggest that
Mr. Boutwell,, VINO Is SO full Of eXpedlents for
encouraging the business OF tho country, should
turn about and buy gold, with view TO letting out
the crops. Perhaps IL was an apprehension that he
would be compelled to change his policy that gave
tO-iaV
rate for money Is beginning TO be felt IN the market
for commercial paper, where a better inquiry was
reported to-day. Rates also show diinlnnton, and
prime notes were quoted at from nine to twelve
per cent discount large importing house IN Pine
street ID reported TO have failed to-day.
Foreign exchange was again steady and active
under large demand for bills. II should DC remem-
bercd that in the late god ''corner" there was
very Tree sale OF bills on "shortn account, which,
like the overseeing OF the stock market, ia reactng
against the sellers Many OF these saies have been
covered within the last few days, while tue reduced
line Of exports curtails the supply OF bills The late
gold speculation has ramined in Its effects every
branch OF business in Wall street. The following
was The range OF rates:-SternG, sixty days, COM
mercal, 1857 1885, good to prime bankers 109 a
1904; short sight, 1095a 1924; Paris sixty days,
623A a 5.10l4 short sight, 516I a $40; Ant
werp, 5.234 616A; Switzerland, 5234 SICK;
Hamburg a5l4 a54; Amsterdam, aaX 4o1a;
Frankfort 40 4o1a; Bremen, IS 1884; Prussan
thalcrs, 7044 o II.
Governments underwent q strong reaction from
yesterdays prices, although the market was in the
main dull. Each decline brings in new buyers. and
hence any operation for decline encounters new
obstacles. The foreign and home markets have not
been well balanced lately owing to the fluctuations
IN gold, but showed more signs OF equalization to-
day, and hence the closing prices OF governments
tins afternoon were more STEADY, the rise IN ex-
change and the finer tone IN gold checking sales
TO the foreign brokers. The closing street quotatons
were as folows:-United STATES currency skies,
1O7X 10SA; do. Skies, 1881, registered, 1l9 l19A;
do G., coupon, 119 11914; nvetwentes, regis
tered, May and November, lis 49,; do. do,
coupon 1882 do, 119 i19al; do do, coupon, 1864,
dO 1l9 1874; do. do, coupon, 1865, do, 1905
11o4; do. do, registered, January and July NIX
117A; do do COUPON 1856, do, ll73 117a do. do,
coupon, 1857, do, NIX hts; 90. do, coupon,
1865 do, 1l79S 117i; do. ten iorties registered,
los 10S4; GO. DO, coupon 1881 losa1 gold, 1879
100.
In Southern securities there was o steady market
for oil the issues except the North Carolina TAX
bonds, which continue the victim OF speculative
manipulation, aud to-day took a downward turn,
reaching A late In the afternoon. The following
were the closing street prices OF the leading bonds
on the Southern list:-Icnnessee. OK coupon, OK
Ga; do, new, 81 52ia; Virginia, cx coupon, 50}s;
do, new, 81 SO; North Carolina ex coupon, A. so;
do, new, 80 40; do, special tax, 43A "A; Lousi-
ana skies, 80 20; do. levcc SKIES, 6ats 658; do.
DO Fights, SO a 81; Alabama eignts, Oh %; do.
fves 81.
the annual meeting Of the New York Clearing
House Association was held to-day. Mr.. John Q.
Jones elected chairman, Mr.. A. Masterton secre-
tary, and Mr.. w. A. Camy manager The following
Clearing House CoHe9aitee-J. ID. Vermiiye, James
N. Morrison, Il. d. Brown, ). X. Comstock, q. r.
Levercn.
ConlUtsttee on Adnoissioa--W. A. Wheelock Presi-
dent Central National Bank; W. II. Cox, Cashier
Mechanics National Bank; A. u. irowDfidse. pres
Importers ana Traders National Bank; Alex. das
terton, President Manufacturers ana Merchants
Bank
committee or Conference on .Suspensioas-Jacoo
Campbell, George W. Duer, William *. Kitchen,
Edward IIaight, +. ID. Happen.
Committed on .ArJttrat0a--R. II. Lowry. Presi-
dent National Bank OF Republic; W. H. jenkins,
Cashier saGK o. America; W. H. Macy lresSent
Knapp, President Mechanics National Bank;
Nathaniel Hayden. President Chatham National
The total transactions for the year were
esS and the transactions since its organi.
zaon-a period OF sixteen years $3.50, or 55S 1902.
The average transactions per day have been
$l26,0ss.7ss being S279lo,0l7 more than any pre-.
vi0us year, and the total exchanges for the year
$soso,ss ,o72 greater than ever before.
While the stock market was In general dull there
was firm undertonc and prices were not easily
hammered BY the shorts. who are said to be very
numerous Indeed, the signs are that the market is
now being manipulated TO increase the short inter-
est to the greatest possible extent, preparatory to
bull movement by the ciiques. The outside feeling
for rise is not strong one, the tendency OF those
who lost In the recent "break" being to sell, rather
than buy, the operation requiring less capital and
therefore having Its present Inducements There
was new shunlc OF the cards In Lake
Shore to-day In the first place IT was
Incorrectly stated last ngnt that Mr.. Ely