The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-15
FINANCIAL AND COMMERCIAL.

There was q sharp demand for money this after
noon based upon the shifting Of ioans arising out
Of the examination OF securities aud the general dts
trust which continued TO succeed the recent discov
cries OF fraudulent bonds. the apprehension might
perhaps have been alayed toward the close OF
banking hours, and money have ceased It's
activity, had NOT there been q notification
from the Broadway Bank Of Its intention
10 call three millions tomorrow to meet the
payment Of certain city and couoty Indebted
ness, the bank being the depository OF the city
funds. At the same time there was small but sud
Den demand on all the banks by delinquent taxpay-
ers who drew upon their deposits IN order to make
immediate payment OF CAKES and avoid the addition
OF the ono per cent penalty winch is imposed alter To-
morrow. Again the Treasury sale OF gold, IN taking
milion OF currency from the street, however tenn
porariIy. added TO the general activity, which at
time recalled the famous periods OF last winter,
when throDgs crowded the streets III front OF
the Stock Exchange. The crowd gathered to-day,
but its numbers were not SO large nor was II SO per-
sstent in seeking money. Sun many accounts were
tardlly made up aud borrowers were III quest Of
money % late US hali-past three O'Clock. The stock
houses paid coin interest very freely, ana in some
cases . sixteenth Tor .turnlng' and an eighth Tor
commissions The government dealers were sup
piled at seven, currency, but some smaller houses
had to pay seven, coin, on governments. The
demand was fully met at these advanced rates. anu
those who had money were seeking to lend it
as late quarter to iour o'clock. There was a
report on the street TINS afternoon that Cray had
been arrested In Philadelphia. Messrs. Jay Cooke ~
Co. request US to that tie statement In our local
column Of yesterday That they had recently purchased
certain bonds rom Gray who negotiated the iraudu-
lent bounty loan bonds when, proving to be irregu
lar, were subsequently re uraed 10 him. is incorrect
n a avp IN N all Il u00
pieces OF the altered Ave lwenties, all OF which
came from respectable houses, VINO furnished good
bonds In substitution.
The stock market in earlier operations showed
tendency to recover from the depression brought
about by the unsettled feeling OF the street, and
prices In most instances stronger than at the
close Of business the previous day. Everything
went by the board, however when tight money!
was felt. 1t was further evident thar some, II not
oil the prominent cllaues getting timely notice OF
the intended action OF the Broadway Bank, as well
as expecting the activity arising from the payment
OF taxes, got out OF their STOCKS in The morning, II
indeed they had sold yesterday as was then sus.
pected. There was no exception to the decline. All
the speculative shares sofa uown q hall to two and
half per cent There was little excitement over the
fall, which shows how limited have been recent
transactions. In late street dealings the lowest
prices were made Tor the list, but the market was
inclined TO steadness under purchases OF the shorts
to cover These purchases seemed It's only strength
for the general feeling on the street had become
bearish after the advent CT active money. The effect
OF the decline Is exhibited below in the table oil
highest and lowest prices.
The Stock Exchange Governing Committee ap
pointed committee OF five this afternoon TO receive
proposals for inc sale Of site on which to locate
new Stock Exchange, tne present building not
being the property OF the organization but held on
lease, which expires next May. strong feeling
favors the location Of the new Exchange, near the
new Post Once. The sizes OF the old Post ONCE aud
the old HERALD building have also been suggested.
Gold was heavy despite Washington rumors tnat a
caucus OF republican members advocated imitation
and the price under the aggravaton OF the for
carrying gold ie from 1925 TO l21zs but strong
OF the lower figure under the Impression that the
government Will suspend Oil sales unless 122 or more
Is had. The government sale to-day was well at
tended. The BIDS were for total Of over three
millions, at prices ranging from l2l.so to 1926.
Foreign exchange under better demand Tor bills.
arising out OF the decline IN gold and the presence
OF packet day, was firm and active at the close, when
the leading bankers advanced the rates or prime
sterling an eighth per cent. Commercial paper was
dull and without new features.
Government bonds III the early hours OF business
were steady for the Gve-twentes, but weak and un-
nent In the advance last week. AS the day wore on
and mOneJ became active and gold declined the
whole list became heavy, and closed weak, at a
decline of about hat per cent ON the fve-twentles
IS compared with the best prices Of the day.
The executive committees OF the Adams United
States and American express companies Will meet
In q few days at the Astor House, this CITY, for
the purpose Of negotiating territorial agreement
which will allow The Adams to open business over
the Pittsburg, Fort Nayne and Chicago Railroad 10
Chicago. The Adams Company VIII also consider
the proposition TO repurchase the lines surrendered
to the Merchants Union at the time OF the settlement
with that company.
The following were The closing street prices for
government Donds:-Unted States currency SKIES
1851 o 100; do. skies. 1881. registered, ll54
q ll6k; do, coupon, 1l9A 1875; FIVE
twenties. registered, May and November 1l2]5
1924; do, 1862, coupon, do, 114l4 1l41s; do,
1854, coupon do, 1121a 1121; do, 1855, coupon
do, 112A lis; do, registered January and july.
Ill me-; no., 1885, coupon, do, 1l5]S 115A;
do. 1867 coupon. do. 1i55s ll5k ao., 1868. coupon
do, 1853 116ss do ten-lorties, registered, 100
1o9ls; do. coupon, 10oA 1lO4.
The market for southern securities opened unset.
tied and weak Tor the leading specu alive issues
and hence Was quite sensitive The general breaKn
IN the afternoon. Tue decline was more marked in
the new Tennessees and North Carolinas, which
respectively yielded to 42tS and es5i Exception
ally the South Carolinas very strong ana sold
at ~. The following were the prices at the last
board:-Tennessee, ex-coupon. SO 5ok; do, new,
42a Az; Virginia, ex-coupon, 40 49s&; do, new,
"a 90; Georgia skies, 81 s3H; do. seyens. e41s;
North Carolina, ex-coupon 42S a AZ; do, new, % a
2sX; South Carolina new, ~; new SKIES. 9OI. s0sl
louisiana SKIES, 20 IL; do, levee skies, coz el
Alabama fves, oll4 Did; do. eghts, eS q 90.
The following were the closing quotations for
foreign exchan2e:-Sterlng, sixty days commercial,
los 10sls; good to prime bankers. 1857 1Osx;
short sight, 1904 1925; Paris sixty days. SIX
6l7X; short sight 6.18Js a 5.l6sS; Antwerp SILK