The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-22
FINANCIAL AND COMMERCIAL.


WEDNESDAY, July 2l-0 p. n.
Tho money market TO-DAY was very steady, and
the rate On call still ranged from six to seven per
gent according TO the class of colaterals. There are
~ yet no exceptions ct the lower rate upon stocks,
but the instances at six per cent quite frequent on
pledges OF government bonds. The currency move
ent with the interior is reported about even, 80 that
the Treasury disbursements are the present source
pl Increase to the loanabe funds Of the banks. Inc
purchases to-day have added nearly four millions of
dollars to the currency OF the city but the sale OF gold
tomorrow will withdraw nearly million and a half
again. Some curiosity Is manifested 10 know whe-
Their the government purchases OF bonds. In addition
to those for the Sinking Fund, Will be continued
next month. We have reason for intmating that
Secretary boutwell, will be guided by the condition
Of the money market at the end of july. As to IN
creasing his sales OF god it Is hardly probable hat
10 will diminish his store further than by the
amounts already advertised to be sold. The Novem-
her InstaIplent Of interest very heavy one and
will need economy Of the gold receipts
Of the government during the ensuing three
months, the large gold balance In the Treasury
being illusive as 1t is largely represented by gold
certificates. Foreign exchange was dull after
Wednesdays steamer, but the demand was even
less than usual. Rates were firmly held, and for
prime bankers sterling ranged from ITO O l1oH for
u
cal paper quoted at eight to twelve per cent as
the extreme range for sixty day and four months
prilne notes and acceptances,
The government marxet, while favorably affected
by the Treasury Purchases. and the advance to 83H
IN London, was irregular at the opening and after
ward fell of fraction upon the announcement
that the proposals to sell embraced total OF nearly
twelve millions Of bonds. This figure shows that
the supply on hand In the city Is larger than was
supposed, and hence yielding in obedience to the
inevitable law took place. Again the foreign de-
mand Is entirely checked, because the home market
has been run up 30 largely by these weekly pur-
chases. It should not be forgotten that the foreign
market was greater support than Is the buying Of
the government for while the latter takes only three
millions week the former was in the habit Of re
curing as many by every prominent steamer. The
demand IN the one case was invisible; in the 60
Vernment purchases there are parade and pub
licity which have unduy stimulated prices and
drawn a great many bonds from the cOun.
try. With the price IN London at SO
there was yielding In the general list
which carried the 1878 down to 100 1-l6. The weaker
feeling in gold az this period was almost operative
upon the market. Later in the day there was re-
action and a general Improvement, prices ON the
street closing steady, rs fOlows:--UniSed States
skies, 1884, registered. 1901 1904 do. do coupon,
12OG 1905; do. iive-twenties registered, 12OX q
l2o2; dc. do coupon, 1862, 1881 1885; do. DO,
coupon, 1864, 12l& 121s; do do, coupon 1866,
121X q las; do. dO coupon, new, 1865, 1909 q
l2O,4; do. do, coupon, 1867, 1904 1905; 90. do,
coupon, 1868, 1905 a 12o,I; do. ten-forties regis
tered. 1904 a ITO; 90. do, coupon, 11O14 HOY;
currency bonds lo7a< 1o7X.
Washington special says that the public debt
statement for the present month win show crafty
ing reduction In the total amount OF the debt. The
Poc from and tnfor Will IN,
the aggregate amount to thlrtyeight or forty mil
lions, ana the debt Will be diminished about ten mil
lions Of dollars 1t IS expected by the Treasury off,
cias That the exhibit for August will likewise show
further reduction OF the debt, while the statement
for September will probably increase the amount Of
the debt few Millions on account Of the heavy fal-
Ing Of in receipts aud the anticipated large disburse.
mcnts to meet the . ases Of the War and Navy
Departments.
The government purchased 100000 fve-twenty
bonds to-day. The proposals embraced q total of
over H. 900. Those accepted were IN the lots and