The New York herald., 1869-04-28
FINANCIAL AND COMMERCIAL.

TUESDAY, April 27-6 +. M.
The money market was abundantly supplied
during the earlier hours at six per cent, which was
the prevailing rate on all classes OF call loans To-
wards three O'Clock more activity characterized the
markeI and seven per cent paid quite freely by
those who had delayed making their engagements
in the hope of obtaining loans at cheaper figures
than ruled during the previous portion OF the day.
Commercial paper was also more active and the best
double names pass at eight to ten per cent The
inquiry runs upon the longer dates which will bridge
the expected four per cent money market in the
early summer
supplementary statement to the one that the
public DEBT Will show reduction of two millions
for the present month says that under the system
adopted by Secretary Boutwell, the accrued interest
on the debt is added I'm monthly, and each monthly
statement therefore shows the true condition OF the
deOt. The customs receipts for this month will be
about Sl4o0o,000 while the internal revenue re-
celps VIII be in the neighborhood OF sl2000,0Oo
Despite a lower quotation at London the govern
ment market was quiet and firm, ana without
special feature. The scarcity OF '62's renders quota
tions for them somewhat nominal. Thus at the
close 1919 was hid for half million, while small
lots were Offering at 1915. These high prices oc-
casioned more marked diversion of the foreign
investment demand to tie 67's which, under The
continued pressure OF the 'corner' existing in them
as well as the fact rst narrated, advanced to 1l6
The following were the closing street quotations
this evenlng:-United STATES SKIES, 1851, registered
1l71s q 1l72l; do, coupon. lis a l1S&; do, five
twenties. registered 1l21s l12al do, do, coupon,
1862, 12l14 f215s do. do. coupon 1861 III 1l7S
do. do coupon, 1865 lls7S a 119; do do, coupon,
new, 1865 1l57s ll6; do do, coupon, 1867, 1855
u6 do. do, coupon. 1865, Il5ai 116; do ten-for-
ties, registered, 1865 1861; do do, coupon, 1861
1868; currency bonds, los l05i4.
In Southern securities the North Caronas were
the feature, advancing to SIX, reacting to 56l and
returning to 81. The State Treasurer was in the
city to-day making arrangements for the payment
OF the past due January and April interest. The
Alabama eights sold at 1922 which was subsequently
bid, with no bonds Offering. Ihe Georgia seyens
touched o6a, which was bid for very large amounts
The city savings banks are the chief inquirers for
the latter two State securities. The tone Of the
whole list was trm and buoyant, except for the vir-
ginias which were reactonary with the adjourn
ment OF Congress.
Foreign exchange was suddenly frmer under The
demand for bills, which, with the absence OF cotton
bills and the limited supply OF bond bills are scarce
The market at the present time Is dependent TO
great extent upon the supply OF bond bills but as
the prices OF governments on this side so much
higher than IN London, no margin is left Tor Ship
ment, and exchange Is thus deprived Of one source
of supply This was the secret of the advance in
rates to-day Towar is the close the market was less
firm, owing TO the extravagant rates for borrowing
gold, for the use OF which, will be seen
in another paragraph, as high as one-quarter
OF one per cent was paid until tomorrow. The fol-
lowing was the range OF quotations STERLING sixty
days, commercial, l0s l0s4S: good to prime
bankers, 1OS4 100; short sight, 1899 1926;
Paris, sixty days, 5.2S14 6.17K; short sight 51Ss
a5.15; Antwerp, 5.23A 5.1ssl; switzerland, 52sl
5.Isz; Hamburg, 5234 a 5.ls3i; Amsterdam,
7sI5 Prussian thaers, 701s ~.
The gold market opened with every prospect OF a
continuation OF the steadiness which has prevailed
for day two, the situation, political and finan-
cia presenting sign OF disturbance. AS the day
advanced, however, the bulls" engineered very
decided squeeze" revealing the fact that the mar
ket is largely overs0d. AS high eighth OF
PER cent per day paid for the gold Tor the
Clearing House. and as high as one quarter of one
per cent 10 make good gold accounts In the discount
banks As the total gold in the banks of the city
is ony ten millions, the success OF such
stratagem was easily assured The 'bullsm are
determined to take advantage OF the interval to
Thursday and Saturday next, when Mr.. Boutwell,
Will sell gold and pay the May coupons. The extent
OF the short" interest in the market was not sus-
pected until this squeeze" developed It. 1t shows
that with the adjournment OF Congress the tempo
rary ul in the Alabama and Cuban questions and the
payment OF the May gold interest the ''bears" very
quietly sold the market The advertisement OF gold
sales by the Assistant Treasurer has been amended,
according to Official notice from the Secretary Of
the Treasury, that the amount OF gold so TO be |
awarded will on no single day exceed one million |
dollars. ana tnat the government, in making the |
award, VIII the right to reject such bids
are obviously adverse TO It's interests. The steamer
Hosatia took out $4,000 treasure. The range Of
folia