The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-04
FINANCIAL AND CONNER GAL.


day was largely attended owing to the interest CON-
muncated to the matter by the refusal OF the propo
sails for the gold offered earlier the week. The bids
were twenty three number and for total OF nearly
two millions at prices ranging from 122.2o down to
1901. Those above 122 were Ior more than tho
amount offered, that the Assistant Treasurer had
no difficulty In at once placing the whole sum. The
awards were so promptly made as to induce the be-
lief that Secretary Boutwell, and Mr. Folger had
been In full communication with each other since
last Tuesday and that the latter gentlemen had
ceived explicit instructions as to his duty IN the
premises. Moreover, to prevent any cavn dispute
In future as to the rejection OF bids should the gov
eminent SEQ nt TO repeat the action OF Novem-
Der 30, the Assistant Treasurer has posted on
the bulletin the circular Of last August sreci-
tying at length the terms and conditions
upon which the government buys bonds and sells
gold After the awards the market became steady
and strong. Earlier in the day II had been everish,
and the price nuctuated very often between 1221a
and 1925, owing to the fears on the one hand that
the government would not sell at oil or that there
would be little or no bidding ana on the other that
she whole amount bid for, to The extent OF two
or three millions might be sold. However, only one
million sold, and 1t brought the market price.
II, moreover, sold for more than 122; so the Gold
Room became quiet and dui. The action OF Secrc-
tary Boutwell, In thus arrestlug the speculative
movement in gold Is the OF great satisfaction
to all who not connected with speculative opera
lions. However, as the impression Is given that he
will not, for the present, seK below IT, the operators
In gold are about equally divided In opinion, and
hence the seadincss which wa. witnessed after the
awards had been made. The 'bulls' tempted
10 buy, because they think the bears" will not DO
able to get the gold Tor delivery at less than the
price which the government has virtually fixed for
gold. For this reason there was considerable buy
ing late this afternoon when the merits OF the siLua
on mad been more fully canvassed ana the closing
ales were at l225s. The clearance5 to-day reject
the check which has been given to the SPECTATORS
by the action Of the Treasury-the total being only
ewenty.thro millions.
The settlement of the question was further. In
nuental on the general market where steady and
improved character was visible. The activity or the
money market gave way ease and abundance,
although the majority OF loans before hafpast two
O'Clock were made at the iul legal rate OF interest
As on yesterday, however, the offerings at the close
were far in excess OF the demand, and those who
preferred to defer their engagements until three
O'Clock were able to borrow at Blk aud seven per
cent. Commercial paper was unchanged The
banks are solicited win considerable Western
ceptances, drawn against consignments OF pork;
but this class OF paper does not Interfere with street
rates for dry goods and other more local paper.
=
and dull, put firm towards the close.
The steacincss in gold made q nrmer market for
governments securities, ani under the ouying Of the
German bankers, VINO based their purchases on tho
strength and activity OF the market III London and
FRANKFORT prices rose abou: Il half per cent during
the day. Tho following were The closing stree.
prices for the government ist:-Unitcd States cur
rency skies, 1917 1875 do. SKIES, 1851, regis
iered l12 1l21s; do, coupon, 1l5A q ll6ja; do,
nve-twcnties registered, May ana November, III a
nix; do, 1862, coupon, d. ll51s lIosi; do. 1864
coupon do, Ill 1ll1; do, 1896, coapon do, l11A
1l12S; do, registered. January and July, l091 q
ITO; do, 1895. coupon do, 1885 1l3ES; do, 1857
coupon, do, 1l3zs ia; do. 1863 coupon, do,
1l3X 1879; do. ten-fortes registered. l084
107k; do. coupon, 1917 lo74.
The Southern State bonds were again weak in the
new Tennessees. which show symptoms OF initiating
the recent example or the North Carolinas. The
latter were steady and the general dull ana
strong. The action OF the bond committee In the
matter Of the North Carolina securities officially
communicated 10 the STOCK Exchange IN the follow
ing report
To THE PRESIDENT OF THE NEW YORK STOCK Ex
SIR--To avoid confusion and msapprehension as
TO dealings III North Carolina bonds, TINS committee
have this gay decided That the cal OF especial tax
bondsn be dropped from the list. Tho call will tserc-
fore be "Nortn Carolina SKIES ola bonds.n 'NorIn
Carolina skies, new bonds;' interest adjustment 10
require the coupon OF January, 1868, To be mace
70 conform thereto. New bonds TO include al such
as have been passed by the committee, whether
known as special tax or otherwise. Members de-
string any particular issue u new bonds mus Eeeo-
tiate privately. By the committee.
A. CAMPBELL Chairman.
The following were the final street quotations for
Che Southern lst:-Tennessee, ex coupon, 521s
80; DO, new, 45 454; do.. Ave per cent, 40 Al;
Virginia, ex coupon, Al AS; do, new, 90 81;
dO registered stock, 43 A.; do, replsterea, 1865
30 81; do, registered, 1857 4s so; Georgia SKIES
u 81; do. sevcns, 95 O 95; do. sevens, interest
payable In Georgia, IS q 81; North Carolina ex cou-
pom, 49, Al; do. new, 321a 80; Missouri SKIES
90 904; do, Hannibal and ST. Joseph, 90 a o.;
Louisiana skies, 65 &C; do, levee sxes So q $50;
do, leyce clghts, n q IS; Alabama cIghts OIL a a5;
do ves. 81 o.; do. skies, sterling IS a So; South
Carolina skies, 10 q Ill do new, C5 a OF; do regis
tered stock. 6j q 81; CITY OF Memphis slxcs ~ q 4o
City OF Atlanta Fights IS 81; city OF Savannah sew
ems, SO IS; CITY OF New orleans CONSOLE, II 70;
do do, issue railroads, 65 81; Mobile Ohio ster-
ling, o. on; do eishts, % 81; Mississippi Central
Railroad, first mortgage, 10 ~ do second mort
gage. 81 So; Memphis ana Charleston, first, 80 a 81
do, second, ~ 49, d. stock ~ AZ; Greenvilo
and Columbia railroad, guaranteed, 60 O..
The better feeling Impaired by the Treasury policy
In the matter of gold sales assisted the busn
speculation in the stock market, where the business
while small in amount, was characterized by q
steady advance In prices. The largest dealings
were III Northwestern ana Rock Island, but, sympa-
thetically, ST. Paul shared in the same Influences
and was active and strong The Vanderbilt shares
were neglected. but firm and higher. In tie mscel-
laneous list Pacific Mail was subjected To q strong
movement, and rose from 80 to 5IA. Exccption-
ally, Erie was heavy aud weak. The following were
the closing prices Of stocks the last session OF the
Stock Exenange:- 4o14 a5l1S; Cumberland
25h %; Western Union, 90 $50; Quicksilver AZ
a14ja; Maripoa, ia q s; do. preferred, 15J4 bid,
Pacific MAIL 81 61I; Boston Water Power, I5k
bid; Adams Express, 66 q 500; Wells Fargo Ex-
press lS1a bid American Express 38H 31gs;