The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-05-21
The New Work Money Market.
From. the Herald.

Gold was again greatly excited Yesterday and the price
tG the Tie dns
of speculation to the gold market shown by the large
New street watch the changing figures the dial in
the window of the Gold Room The general temper of the
Ghanes RaSe to the paSo and
Ss WS Ss the outside Ppnbo
be induced to touch dollar of the metal Now that it
that instinct of human which prefers dear
several prominent bankins firms and % combination OF
Se n m s h ey 6dvs the ssen t
past month have been distributed to the crowd of small
gold would go 70 iSo %hn few days This belief
was induced by the wonderful chain Of crcumstanees
bulls The Sumner sumner speech in England the ad
n the foreign market Of American securities and the re
S ali RnSs the SgS
and creating that dstrust of the financial situation which
terday the work Of unloading not accomplished with
out an eor At m he S outset SHS o s was to
the full text of the English comments Senator Sum
bonds in London due the advance in gold here
day Ts @ started the and gave e. the clique their
business failures there rush TO buy which carried the
port that prominent persons had gone Washington to
induce Mr. Boutwell, to change his policy of buying bonds
and selling gold As TO the future course of the Secre
ar Of the our own own and other tee
which he has adopted of improving the national and
promoting the interests of the mercantile Community
cided in his intention not to change his present policy
there upwards of S90O0O0O in coin in Treasury
the prospects that this will increase be-
fore the end Of the month instead of diminishing not.
whsandng the sale of 81 100000 week The surplus on
hand and above what is actually needed in the
vaults is estimated at S3jOOOOOO and Secretary
Boutwell, is considering whether to dispose of this
ceeds In fact those who have been prominent i'm This
pressure upon the Secretary lay themselves open To The
suspicion that they have been directly Concerned in n
higher premium gold. Under the effect of this inta
gence concerning Mr.. Boutwells policy the bears II
those who bulls to the turning the pricel
sold the market very freely and hammered the ure
10 lI36 calling it the natural reaction The Moro Cas
tie Havana took out S00OO0 in specie The disburse
ments of coin interest S270,Oq5.
"1he money market was made active in the fore
enable the shorts TO get possession of some OF
the leadn stocks The general seven Der cent
for early loans hut the demand fully satisfied befora
the close banking hours and large balances went over
either at concession in the of interest or unem
ployed. , ,, . ,,,-,-,..-
for prime bankers sixty day and sight sterling hills The
Welding gold caused more buying while the
as 10 the general class of bills the prime
| adyantag ge of making sitter rates ~
"Coyernments touched the highest 6 ever realized
The market at the opening without decided feature
decline of y in London arresting the speculative feel
ing, and inducing some short sales The Short in
teres is now very SMALL having been closed ont by the
recent large advance the cessation of the sharp bor
rowing demand seems to evince At noon the London
price higher, and 62s advanced to 1885, In the
afternoon under pressure to realize the market reacted
| from the best prces