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

TUESDAY, May 4-6 p. N.
The activity IN money was more noticeable to-day,
and as high gold interest was paid upon call
loans but the great majority OF transactions took
place al seven per cent currency. The cliques are
supposed TO be aeeravoting The actual demand for
money which occurs during the week, about the
LIST OF May, In the settlement o! mortgages the
contraction OF other real estate engagements. In
the buoyant market which ensued upon the favor
ahe bank statement OF the 26th of April, and the
passage OF statement day, they not only unoaded
their "long'' stock, but went "shoItn OF a vast
amount more The ''streetn is always weak as
against the cliqnes, Tor the disorganizcd
multitude are more susceptible OF panic The
cliques have also been instrumental In causing the
rise in gold, for simultaneous with their ''bear' opera
lions in stocks they have been ''bulls' gold, the
relations OF the two markets enabling them TO con-
sistentN carry on their diverse operations. An
other calise OF the aggrayation found in high
rate for carrying gold, which to-day ranged up to
ten per ccns and induced many 10 withdraw funds
ana do their own carrying The money market is
IN an anomalous condition and difficult to charac-
terze Commercial paper was quoted at from seven
and half To nine per cent The failure Of prOmi
nent dry goods jobbing firm followed by rumors
Of several similar failures that were without founda
ton.
Foreign exchange was duh, the merchants de-
Ginning TO purchase ut the present price Of gold, the
eye not being yet accustomed TO the changed
figure. The supply OF bills has been better and
drawers stiff In their demands. Thus the ask.
ing rate for prime bankers sixty day sterling was
l09A, but large amounts were purchasable at a
OF an eighth per cenr while sales out OF
second hands were reported as low as 1Oe The
course Of the market Is very doubtful. One large
banking house Ia said to have shipped million OF
government bonds to-day
Governments were dull and fraction weaker
The '62's the steadiest of the list, which is all
tine more curious as the foreign quotation came as
low as 795s at London recovering at the close to
1917. This decline abroad brings the two markets
almost to equality and leaves little or no margin
for shipment save what may arise from the frmness
or exchange. 1ne weakness was more noticeable in
the domestic bonds, which shows that the market
was Influenced by the dearer rates for money. Gov
ernments quite sensitive to the changes Of the
money market and reflect its ease or stringency
with surprising prOmptitude. As to the for
eign quotation, there has been q wide differ
ence between the kilograms given to the public
and those received privately. The price at Frank
fort has been quoted at SO, when positive informa-
Mon. exists that 1t was about half to three-quarers
Der cent higher. This carelessness or trickery be
tween the two ends Of telegraphic communication
has been often the subject OF complaint among the
subscribers to the cable reports. The decline In
gold here this afternoon caused better feeling In
London, and the price advanced quarter per cent
ever the lowest figure of the day, which operated
benefcialy at the close and induced firm tone to
closing street quotations. which were as follows:-
United States skies, 1881, registered, 1lsI
l19; do, coupon, 119 1l91l; fve-twenties, regis
tered 1854 1l31a; do. do, coupons. 1852, 11ssS a
IlSzs; do. do, coupon, 1864, ia 114I; do. do.
coupon, 1865, 1i5sS 1l52i; do. do, coupon, new,
1866, 1865 1l6e4; do. do, coupon, 1857, 1863 a
n65: do. do, coupon. 1868, 11o>s 1164; do, ten
forties, registered 1o79< 1o71S; do. do, coupon,
1851 1885; currency bonds, 1855 1Oe1S.
Southern securities were lower for the Alabama
eights and firmer for the Louisiana eights. New
North Carolnas were steady. Old Tennessees were
sensitive to the increased demand for money and
sold ''on," but closed steady. The following were
The final street prices for the leading bonds:-Ten-
nessees, ex coupon. o7i< 67ts; do, new, 65I sc;
Virgnias, ex coupon, 81 5s; do, new, 90 621s;
Georgia skies. So bid; do sevens, 954 a se1s North
carolinas, coupon, COZ el; do, new, 54s 55
Missouri skies, ss1s Sss4; do, Hannibal and st.
Joseph, eo1. bid; Louisiana skies, 1879 741s; do,
evee do, 69T 20; do. do eights 30 90is; Ala
sama eighs, 1O2 bid; do. fves, 67 Co.
The stock cliques who bought gold SO heavily in
lhe incpent stages the recent advance were sue
cessful in making good market to sell upon to-day.
Tue opening price was 1854, from which there was
gradual decline to 1858. Cash gold was in great
abundance under the continued disbursements OF
the Treasury in payment of the May coupons Loans
were made at five per cent for carrying in the |
carrier portion OF the forenoon but later high
I-32 per diem and ten per cent per annum al
lowed upon the currency collateral for carrying bal
ances over. The range OF price was as follOws:-