The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-04-24
The New York Money Market.

M The Money market which at the close Yesterday under
active at the full legal rate Of interest s Ss
sudden change this afternoon During the earlier hours
ion and a cal loans made at
snS rsSs sSpd GSs %S a. any Of
was also quite perceptible in commercial paper.
double names four months selling as low as sisht per
cent The banks in discounng more freely for thei.
many drawers, that with the decline tie rates call
OF Statement aso
t@ Ss the M Of
the .ts market rate of interest
ss s
tanned to the close of business and exhibits reaetonay
meeting daS e the e Of England ss
Also & that & there has been no change in the rate Of
passed Aa Das 81 ApS''n'D''on 0n 'A' ''''''. nAS
uncertain conditions attaching to the proposed sales of
gold by the Government Under rumor that the order
% Van at time me
o Rs saG 70 Il n the notice
By a sssS & or the Of
@ when the same ne will be opened and the bids
than 5000 and may be made either in lawful
Gns By G To- ye % &
he % on the day of sale Like proposals. win be
1T viii be observed that Mr. Boutwell, does not specify
Room Sst Mr. n haa ss
the reserved the right to sell any amount IL
% S Ss sss bids
90 e s s
lawful money for greenbacks in the equivalent pay
Is Of the sns
OF the money market to its easier condition Friday
,m cash gold was e. in good demand Clearing House
b & N the afternoon t loans We're generally %ade st
balances, sif7o,iss" e''N ''' s''''''''' '''''''s
a.
THE money market active in the morning 7per
cent currency but after the first demand the sPpcaticns
cent, and Just before p H. some round sums at e
daily from the cities Prime business notes pass
secretary Boutwels yesterday that Govern
ment will receive proposals for gold next and succeeding
sed ss sssd
the banks for greenbacs which would
tighten the money market and bring loss and smbarass
which could possibly be assisted in their Operations
selling short ths week These stock iobbns bear had
SRSn viii s s S
to TsSeiys for the gold sSd in Lawful
Secretary makes this change in the mods of pay.
which might otherwise be brought upon them BY
&c Pns Sss 70 1ss ss
singular; On May Government 70 dis6urse
Ss5i,tsS market Se q oid until t6ss date
cannot plead the public want OF gold excuse Tor
what seems to be the gratuitous action Of selling that
gold which pledged to the public credtosby the nknR
Fund act OF 1852 1T Mr. Boutwell, desired to sell gold orth
then March % instead of April 2 would have effected this
ernment gold the top of interest dsbursemt nts OF
xOOOOO0 is OF those curious mysteries of which the
Treasury department has had plentiful supply euring
r McCullochs term of Office and which the public nave
ascertained by somewhat costly and painful
were invariably OF benefit only to the Treasury DE
partment ring of gold gamblers and stock jobbers
present Mr. Boutwers maiden action in tins gold air
may be an accident, and, If the public still hope
Tor some further changes. The Secretary specifies
amount in the gold to be Sold and does not the
right to reject bids The whole affair to be crude
on knowledge its results the business community
The foreign exchange market strong and advanced
owing to the limited amount of bills the Market The
supply depends chiefly the shipments of bonds. Prime
bankers sixyday sterling bills firm at l0e56 lOss
and sight 1895 l09 with upward tendency Consi
derable amounts of bonds have been shipped against
coupons received.
1.-The stock market stroug throughout the day. with
frequent fluctuations in the leading Stocks but closing
with marked Improvement only in the prices but the
tone OF the market; The news that Secretary Boutwell,
would receive lawful money in payment for the sales Of
Government gold caused considerable excitement among
for greenbaoks by the Secretary make squeeze in
the money Market during which they hoped engineer
lower prices the Stock Exchange to enable them
their short sales at profit. The market to
day unusually easy and different from what the
bears expected that suspicion exists that of the
leaders closed their shorts yesterday and have been buying
long to-day