The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-05-26
The New York Money Market.

"The markets in Wall street to-day were unusually
dull spring languOr seeming to creep over matters
and things IN that generally busy locality orders
sufficient to make quotations quite active and give
stocks the semblance of great buoyancy. There was
continued and somewhat excited discussion Of the
retcence of Secretary Boutwell, in not declaring his
policy in the question Of buying bonds or three per
cents to effect the sale of an extra million o: gold.
Those who are short OF gold and Governments seem
10 be harmonious i'm endeayOring TO trfghten holders
into selling by enlargng upon the probabilities of
Mr.. BOutwePs buying the certificates instead Of
bonds. The fact is, no one knows what his tnten-
tons are. The weaker feeling in gold is the secret
Of the weakness in Governments, and the bears in
the latter naturally very earnest in spreading
any reports which rebound to their speculative bone
tt The range OF Governments to-day was repeti-
uon IN many points OF the nMctuauonS oi yes
terday The London quotation, 10, created steady,
II not better, feeling at the noon board, but the
softeninG OF the gold market, the dulness OF eN-
change, which prevents the foreign houses from
increasing their purchases, and the three per
cent runors operated for lower prices, and the
market closed at O'Clock this evening with the fol-
lowing quotatons-U States 6s 1881, registered,
12O2,G12 do, coupon, 12t ls@12l3 do, FIve-twen-
ties registered 1166@1162l; do. do, coupon, 1862,
l2216@l2 l22]4; do. do. coupon, 1864, 116h@16a do.
1895 do do, coupon, 1868, 119@1193& Ten-forties,
registered, 1Os9@lOS4 do. do, coupon 1890 109li
'"The money market was without any particularly
novel feature until late in the day, when more ac-
tivity ensued and loans were more general at the
full legal rate as a consequence of the furry pro-
duced by the announcement of the defalcaton Of the
Bank II was also reported that the bank had been
compelled to suspend but on examination the deficit
was found to be limited to S250000 for portion of
which the deceased president left certain deeds OF
real estate. Commercial paper was less active at
rates ranging from seven to nine per cent.
''FOreign exchange shows further concessions on
the part of drawers and the market is rather un.
| settled. A few days since large amounts might he
purchased at figures lower than the market quota
| tions. Now, a demand for large sum would pro
baby be regarded with suspicion and induce the
| drawer TO put up his rates. The weakness
| which is Characteristic of the immediate pre-
! sent Of the market is due to the pressure
| to sell bond bills on the part of foreign
bankers who bought Governments freely tht
| recent advance in London The following was the
range OF rates sterling sixty days. commercial
| 1857 @1OSzs; good to prime bankers, 1O9@109I(
short sight, 1O9%@1lO@; Paris, sixty days, 525d
| 5'16t4; short sight, 516I@5132{; Antwerp, 5'2
| @516I Switzerland 5'25G 516li; Hamburg 85 S5@
35Z6 Amsterdam, 49, 5@40E; Frankfort, 894@405S
| Bremen, 77I@7S1f; Prussian thalers, 701l@1hl
"Gold was comparatively quiet wilh the genera
tone OF the market weak under the reaction from
| the excitement which carried the price up to tht
verge of 145 the declining tendency being assisted
=, to-day by the reports that Mr. Boutwell, would bu,
three per cents instead of an additional million o
Government bonds. The highest price was l4 /, anC
| the lowest 140l. From this latter figure there wa
| "a reaction TO 1909, due in measure to apprehen
sion for the final results of the defacation in th
Atlantic Bank of Brooklyn"