The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-15
FINANCIAL AND COMMERCIAL,
WEDNESDAY. JuIv 14LspM

WEDNESDAY, July 14-6 r. N.
me speculative movements or Wall street to-day
were directly affected by the government purchase
OF three millions OF bonds and by the circumstances
connected Herewith The recent sharp advance in
she price OF the bonds which are within the scope
Dr the present system OF purchases led to feeling
ID some quarters that the Secretary of the Treasury,
In the exercise OF "hls right to reject all bids OBJ
viously adverse to the interests of government,
would not buy beyond a certain SCALE The rumor
was freely circulated by those short" of bonds and
stocks. and created great deal of apprehension for
It's truth. IL had the good effect OF lower
ing the prices Of governments just at the
time the proposals were Submitted SO that
the purchases were simultaneously consummated.
In the general money market 1t led to increased
rivy the retention Of the equivalent currency at
time when so much relief was needed and go many
enterprises had been undertaken, being regarded
as very unpleasant feeling. The rate on call In
early transactions advanced to gold interest," and
doubtless weak borrowers would had pay more
mad not lenders been deferred by the legal proceed
ings In progress at the law courts. The more conf
dent operators disbelieying the probability of any
hesitation on the part OF the Secretary OF the Trea-
sury, began to disaousc the popular mind OF the i'm
preston and the rate relaxed to per cent
renoy, although not until after two O'Clock, as
the money paid for the bonds was slow In coming
out, the proposals being numerous and requiring
great deal of time calculate their relative advan-
tage0usness. The awards being made the question
was settled, and there was general recuperati0n
all around. Some regret is expressed that the pur
chases are confined to the fve-twenties, which are
thus given an undue value the rest Of the list
and the question asked General Butterneld to-
day If he would proposals for the sale Of Sls
He immediately referred the matter to Secretary
Boutwell, at Washington and received answer
that the purchases for the present must
be confined 10 the fye-twentes. The govern
ment will buy another million tomorrow,
directly for the Sinang Fund. The quotations
at the sessions Of the government board show how
closely the bonds were affected by these rumors.
Prices were lowest at the noon board, but rapidly
advanced after the awards had been made by Gene
raj Butterfeld, and the closing prices were the
highest Of the day. The market received no sup
port from London. five twenties coming steady at
slgs, but the English market heavy and consols
lower consequence Of riots In Ireland arising out
OF religious quarrels Indeed, 1t Is suspected that
some Of the sales to-day were on foreign account,
the foreign price leaving margin for shipment this
way. The following were the closing street quo
tations-Unted States sixes 1881, registered 1907
a 12l; do. do, coupon, 12l 1918; do. five
twenties, registered, 12lA 122; do. do, coupon
1862, 124 q 1241s; do. do, coupon 1864 100 1925;
do do, coupon, 1896, 100 1925; do. do, coupon,
new, 1865, 1905 1904; do. do, coupon 1867, 12O4
1903; 40. do, coupon, 1865 12os 12o9z; do. ten
forties, registered 10 1lO1; DO do, coupon, 1101
11osS; currency bonds 1917 1918.
The offerings Of bonds to the government were
quite liberal. the total amount embraced In all the
proposals aggregating about s9,O0O,OOO one firm
submitting one lot OF the whole called for by the adj
vertsement. The awards were in the amounts and