The New York herald., 1869-04-07

i. M.............131IS M
The demand for cash gold was less urgent up to
Clearing House time, loans being made at from FIVE
to two per cent for carrying. These figures are in
definite to the degree that they reflect the greater
activity in money and the consequent concession OF
interest by the lender the currency collateral.
After Clearing House loans were made fiat and at
1-32 and 1-16 for borrowing. The transactions OF
the Gold Exchange Bank were as follows:-
Gold cleare1 $42,S3 GOO
GOd balances. 32o,Z4o
currency palances'. i,ooo'ooo
The Saxona, 1or Hamburg to day took out $4,000
in specie.
The gold board at meeting to-day appointed
committee to confer with similar committees from
the stock boards to take steps in opposition to the
proposed legislative act taxing brokers' sales.
The activity in money occasiOned dulness in the
foreign exchanges but rates were steady, as fol
lows:-Sterlng GO days. commercial. 1O7M 1074;
good to prime bankers 1919 lo3h4; short sight,
1857 1885, Paris 80 days, 5.2eH $40; shortsight
6.21H 5.1ssl; Antwerp 5.26}a $40; Switzerland,
6.26A a 500; Hamburg, s5 q 35k; Amsterdam. 30H
4O4; Frankfort, 40 4O1z; Bremen, Tx IS; Prus-
sian thalers, 70A II.
There was a feverish ana unsettled feeling in the
market for government bonds at the opening OF
business, in response to the lower quotations rom
the other side, which taken advantage OF to de-
press prices, with rather successful result the 62s
at the noon board yielding to lis and the 67's to
113n. The activity in money and the pressure on
the part Of some OF the banks to exchange their
bonds for currency were instrumental in assisting
this "bear' operation. The tone Of the market
underwent o complete change after this ses.
sion OF the board and became firm at an adj
vance Of half per cent for the 62's and
one-quarter per cent for the CTS, which might
have been larger had not the "turns" to which
bonds have been subjected frequently during the
past few days frightened operators and made them
ttmid as to new engagements. While the nuctua-
tons In price have been quite large they have been
accompanied by comparatively light transactions.
The market has lost its interest for large class Of
spscuators especially as stocks have been unusu-
ally attractive. The following the closing street
quotations this evening:-Unlted States skies, 1884,
registered 115A a 1l6S; do, coupon, 115H
115X; do, hvetwenties registered, 1O9h ITO;
do, coupon, 1862, lis 11sh; do, 1854, 114H a
114x; do, 1896, 1l6x 11e%; do, new, 1865, 1885
. 113K; do, 1857, 11Sh 113%; do, 1885, 113h a
1lsk; do ten-forties, coupon. lo5h 1861; cur
rency bonds, 1osk lo3N.
The continued strngency In money Is puzzle and
annoyance on the one hand, to the cques and pools
who are ''long" of stock and desirous OF market
ana source Of great Joy and profit the other, to
the "Shylocks" who reve in extra legal interest In
these times, when few people are disinterested
enough to view the market with impartial eyes, 1t is
dificult to get at the facts which really enter into its
composition. Money is had and always had, pro-
vided the borrower pays the rate demanded The
lenders by the present system of a sidewalk ex-
change are enabled to gather the borrowers
into one group and thus aggravate their need
by its apparent magnitude. The banks are
confessedly unable to enlarge their accommo-
dation but are not shipping currency to the
country Reports differ as to the extent of the
amounts received In return. On some sides 1t is
stated as trivial; on others, as satisfactory. The
Southern and Western exchanges have veered quite
coquettIshly and inexpcaby. Currency has come
this way. Then the consignments were ntermItted
and currency has gone out Of the city. The revival
OF speculation In the stock market has created de-
mand upon the banks before they are in a condition
to respond. The warning that easy money was not
to be looked for with the passage Of the LIST OF April
has not been needed. The pressure to-day
was more urgent than yesterday but the
effects OF artificial influences were plainly visible
The steady rate ON call loans, during most Of
the day, was one.siyteenth Of one per cent
per day, and the legal seven per cent interest
One-elghth was paid IN the pinch at three O'clock
Reports are varous-in such times ones best friend
Is ready to deceive him, according he Is 'bull'
"bear'-that rates rs high as threc-sixteenths and
as low plain seven per cent were paid at some
period or other OF the day. The faint motion toward
arrested to-day by the higher interest on coll
loans, and some OF the best double-name accept
ances were current ut from to twelve per cent
discount.
The following were the bids for the City Bank
stocks at the regular board this moning:-New
York, 13l; Manhattan, 140; Merchants, 12T;
Mechanics, 1872; Union, 100; America, las; Phenix.
1O7; Fulton, 1eo; National, 1os; state of New York,
1l2I5: Commerce, 122A; Mechanics Banking AS
"a. I'm af ma Ran
III; Hanover, los; Metropolitan, l42; Market i22;
shoe and Leather, 1872; Corn Exchange, 1872; Cont
mental, 100: Commonwealth ia; Park, 159; Manu-
facturers and Merchants, 1Ol Fourth National 1876;
Ninth National. Ill; Tenth National o7; Gold Ex-
change, 13o.
The strength OF the stock market in the face Of the
strlngency In money continues 10 excite wonder on
all sides and CONSERVATION among those who In the
expectation of general decline the result Of the
currency movements attendant upon ''settling day.
put out contracts Tor the delivery OF stock at prices
much below those which are ruling on 'Changc. the
tenaciiy Of holders In maintaining present prices has
been seldom II over parallecd IN the street. The
cques bid up the market at the least sign of yield
ing, and where they pay an eighth or quarter for
''carryingn conrivc to force an advance in
quotations of half per cent. They have
steadily pushed prices up to figures from
which they afford TO sell, even letting
the market go "by the rum" the short interest
which they have induced being adequate to nerpose
sufficiently frequent reactions TO enable them to
prontaby unload. The strength Of the market and
the defiance which holders OF stock bid to money
rates doubtless attributable In measure to the
numerous time loans for periods OF ten, thirty and
sixty days which made in anticipation Of the
present crisis. The cliques while thus fortified are
all the stronger that their brokers not uneasy,
present prices leaving large margin to be con-
6umed before their own investments are endangered
The market opened this morning at the closing quo
Aato of last iuut Tha int nipu raix