The New York herald., 1869-05-19
FINANCIAL AND COMMERC GAL.
TUESDAY, May 1s-6 P. n

TUESDAY, May lS-oP r. u.
There was q decided recovery In the tone Of the
markets this morning, when 1t became apparent
that the failure Of yesterday involved no additional
losses great deal or apprehension was mani
tested for the standing OF several houses in Ex.
change place who were known 70 be connected with
the bankrupts; but as they met all demands against
them the feeling disappeared. In the afternoon
rumor was started that q foreign house had sus-
pended and there was furry In gold which carried
Il up about quarters per cent. AS the rumor
was gr0undless 1t Is supposed to nave been
manufactured to help some OF the "buils" who mad
bought at the top OF the market and were AFRAID OF
the declining tendency which the premium evineed.
The better feeling In The street was encouraged by
the reports from London, where bonds opened at
Tx aud advanced to 1917, showing that the failure
had not produced much alarm In the foreign connec'
Tons OF the house. The advance in gold to-day was
productive of less easy feeling late in the day al
London and prices there closed as low as III, &C
cording to private advices, butthe market was dun
and nat, owing to the prevalence OF semi
holiday. In the home market bonds opened
steady, as q consequence OF the prlce OF g0ld
but there was some caution shown IN dealings. AT
noon the recovery was still more marked. At the
last session OF the board the market was exciredly
buoyant. e.'s advaGIg to 49, and CTS to 100. The
lower prfce IN Europe caused hesitation after
te o0afds, but the strength of gold and the eve OF
the second purchase OF bonds by the government
led to further pronunciation Of the bulllsh feeling
an1 e2's were carried to the extraordinary figure Of
I229., which was bid with no bonds Offering. The
following were the closing street prices this even
ing:-Unted States SKIES, 1851, registered 122A
q 1873; do, coupon. 1913 a 1884; do, hve-twen-
ties, registered, III HIS do. do. coupon, 1852,
1925 122H; do, do, coupon, 1854, 1l74 ll7H; do
do, coupon, 1865 1lS 1lS1s; do. do coupon, 1865,
new, l204 a 12O3S; do. do, coupon, 1867, l2OH q
1908; do. do, coupon, 1861 1905 1908; do, ten
forties registered, 1917 no; do. do, coupon, llO
q li0h; currency bonds, 107H los.
The money market again active IN the fore
noon, owing to the shade OF uneasiness remaining
from the occurrence OF the day before, but as the
day advanced rates on call huctuated to the lately
ruling figures. In fact, there was, If anything, an
easier feeling In the afternoon, and large loans on
miscellaneous stock collaeras made at six per
cent, the lender being desirous OF avoiding the an
nOyance OF distributing the sum in several loans
even at the full legal figure. Commercial paper was
in fair demand at rates ranging from seven TO nine
per cent for prime short and long double name ac-
ceptances.
Foreign exchange rejected the higher price OF
gold by dull and inactive market. The importing
merchants hesitate to buy, hoping for lower gold to
pay for their foreign purchases casting about them
for bonds or other substitutes The prime bankers
are stir in their rates. The recent failure has
created some scrutiny, If net discredit, OF
inferior paper, which shows concession In
rates. The range Of quotations was as 1oows:-
Sterling sixty days commercial 1881 100; good to
prime bankers, l09h q I09h; short sight, 1loS
. 1lOn; Paris, sixty days, SILK 516H; short
sight, 6.15 a 6.13h; Antwerp. 6.21H 6.16A;
Switzerland, 6.2l4 616h; Hamburg, 35H S5zs;
Amsterdam, 10 a 4Ox; Frankfort, 4OH 4oas;
Bremen, rs 1874; Prussian thalers, 7oK 71K.
Gold was very consistent in its fluctuations, OPEN
ing steady If not weak, in to the dissipation
OF the fears Of an extension of the disastrous results
Of the suspension. With the recovery Of bonds in
London there was yielding to l413I, but from this
point there was an advance to 142s based upon tn
false report Of another failure to-day. The reaction
carried the price back to 1417s but the subsequent
decline bonds at London started 1t up to 1929. at
four O'Clock, the uneasiness being aggravated by ru
OF Cabinet dissensons at Washington. The
fo1n