The New York herald., 1869-05-16
FINANCIAL AND COMMERCIAL.


ttItkNArs WAY lo-o " NJ
The feature OF Wall street to-day was the govern
ment bond market. which was strong and 10 degree
excited, IN consequence OF furtner development Of
the policy Of secretary Boutwell, In the matter Of
ducing the national debt The plan Of soliciting
proposals for the sale of bonds 20 the government In
the usual terms OF the market led 10 considerable
confusion, n NOT donbi. m making just awards
Under instructions Of Secretary Boutwell, the pro-
posals In future must be made net interest the
accrued interest ON the accepted bonds TO be paid
subsequently In q separate transaction. In &C
cordance with these instructions, the Assistant
Treasurer, Mr.. Van Dyck publishes the following
Proposals win be received al this once until noon
meRt OF one million Of dollars Of SIX per cent AVE.
twenty bonds for the sinking fund al which time
Proposals m viii Stale the specific Character Of the
bonds offered whether registered or coupon. anu
Of which issue, and may he for any amount not less
the proposals must he for the principal Of the bonds.
In lawful money, without regard 10 tine accrued m
accepted, from the daie Of the las, payment of IN
teres. 10 the date Of purchase. Each pro
posai must enclose certined eneek iof nse
panying proposals not accepted VIII be returned as
the result Is ascertained ana those Of others
on the following day, when the bonds must he de-
hvered, for winch payment VIII be made ~ soon ~
they Can be duly examined. The right n reserved
70 reject bids adverse 70 ,ne o m s.e %
day 0f each week until otherwise dii ecieu.
This open and fair way Of dealing VIII commend
itself to every business man At IL plan shah be
adopted a. q practice In the general market a VIII
lead to much more satisfactory list Of quotations
for government securities and viii expedite business
in that branch Of Wall street transactions As might
be expected the announcement of this determination
on the part Of Secretary Boutwell, led to very
buoyant market IL came as 1nlshing stroke 10
fl.a .llk.
ing fund, and strengthened 10 such an extent that
the '6ls advanced to the extraordinary figure OF
l22h, and 'e7s to lis7s. Although there was fall
ing OF in the foreign quotation the market steadily
disregarded It ana closed with the following quota
tons:-Unted States skies, 1851 registered. i2l n
1224; do, coupon, 122s q l22H; fve-twenies, reg
istered, ll64 a ll6I; do. DO, coupon. is62, i2ih
I2l4; do. do, coupon 1884, llo1s llo1s; do do,
coupon, ls65 1i74 a llT1s; do. do, coupon, 1865,
new, llsl 1l9; do. do, coupon, 1861, lis5s lls;
do. do, coupon 1885, llsz lis; do, ten-forties,
registered. l0sA 100; do. do, coupon. ioe's a
1929; currency bonds, 1867 q lo7.
The recent advance in gold and the contradictory
reports as to the acts OF the government In the
matter OF the sinking fund have made the foreign
market for our bonds somewhat unstable. To-day
the quotation from London came 7s1s, at winch u
continued steady. The gold operators inclined
to look for rise on this account, but the announce
ment above induced "bearish" feeling. under
which gold declined to 139H. This influence was
soon overcome, however, by the greater power OF
the "bur' element, aided by the heavy amount
OF our imports and the strength OF foreign
exchange which is gradually advancing to the specie
shipping point The result was a rise TO l3s7s. Bu'
the bears" were 30 confident OF the results to ensue
abroad from the full publication Of Mr.. Boutwell's
policy that the market was ntful and 1uctuated
frequently, closing up firm at the highest figure Of
the day. The range Of price was as follows