New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-01
Tuesday. NoY. 3O-P. ".

Y,
Gold opened at 1872, sold at 1911, 1913, 122t
1884 and closed 122Ia122t The cearings at the Goid
Exchange Bank we're sIOs37,OOO and the balances
o. os -a The market was the scene OF intense excite
ment to-day, and speculation in the Gold Room was
stimulated by the action OF the Secretary OF the treasury
who received bids for 100000 gold but rejected them
all as being too low The total amount offered was
81 435.OOO averaging about 12l5. When IL was
announced that the Government would not SELL
the market became buoyaDt the premium advancing In
q few moments from 1914 TO 1873 This action
Of the Secretary was the subject OF general com
ment but Immediately checked the panic that
appeared imminent at the Stock Exchange. The heaVy
volume Of gold now held by spectators requires large
amount OF currency to carry IT, and holders nave iounu
increasing difficulty in carrying their balances under the
continued sales OF the Government. The MERCHANTS
have made representation to the Secretary that the de-
cline I'm premium from 1868 to 1914, was rapidly under
mining their credit and 1t supposed that these repre-
sensations had the effect Of inducing him to change his
pan OF operations No intelligence was received at the
Sub Treasury whether the December sales already
authorized would DO recalled, although the rumor was
current that they would be stopped.
Government bonds opened weak and declined TO the
lowest point yet made this month. The pressure to sell
investment bonds showed steady increase and large
amounts were offered to-day. On the announcement OF
the withdrawal OF the Government as seller OF gold
their was better feeling, and prices rallied from 70
or gold The advance, however, not maintained and
az the close prices feyersh and unsettled at quota
tons.
State bonds were weak. Tennessee per cents, ex-
coupon sold at 81 bonds SOL North Carolina per
cents ga new special tax bonds 2ge2s Railway bonds
were in good demand for investment. Tho agents OF
subscription bonds report increasing demand and but
few bonds OF completed roads are now offering Asce
aneous and Express shares dull and steady Bank
shares were steady with sales Of Bank OF Commerce at
1921; Union Bank 1907 American Exchange. nOi Fourth
National iO4I Pacific Mail declined to 5ci in sympathy
with the railway market then rallied TO 6 but at the
close Of business under pressure Of sales again declined
10 a. and closed feverish and unsettled.
Railway shares opened dull and unsettled, and prices
declined at the call from 1dT per cent on the opening
rates At the close call the market feyersh with
every indication OF impending panic, but on the an
the action of the Secretary OF the Treasury
in stopping the sale Of gold prices rallied from idii per
cent NewYork Central sold at 49, l65 rayng TO 1891
and closed at 1866 The market continued firm until the
close Of second CALL when there rush to SELL and
tho prices became demorazed under the heavy pressure
OF cash stock. Michigan Southern sold at sat North
Western Common, III; Rock Island, lOi;' New-iork
Central 1851 At tho close OF business prices were frsc
ton higher than the lowest quotations.
The following the closing quotations OF Govern
mel bonds: