The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-11-11
THE NEW YORK MONEY MARKET.

The following extracts show the state of the New
York money market yesterday
From the Herald.
.'Thc changeable character Of Wall street was sell
dom better Illustrated than in the last few days
Yesterday business closed upon very threatening,
if not gloomy, state of affairs, owing to the dili-
culties attending the negotiation OF mercantile
paper. The embarrassments likely TO arise from
a strngency in discounts We're vividly magnifed,
pictured in the winter. To-day. however. there
was a hopeful If not buoyant feeling, and'while
no further suspensions were reported, there
was more currency for prime names al ten to
twelve per cent At the same time the
banks began to ship currency westward, as If the
crop movement had been renewed and merchants
were more sangune of collections. The local money
market was more active, and the stock houses had
to pay seven per cent as general thing, although
the transactions at six We're quite numerous. The
Government dealers were ahundantly supplied at
five and six per cent. Foreign exchange was
steady at 10S @109 for prime sixty day and 109H@
1895 for sight sterling The gold market was steady
special committee of the Gold Board have been in
consultation with the oniccers OF the Gold Bank,
and Will within day or Two, reporG IN
their former agency the present practice OF making
deliveries of gold by messengers being a source OF
constant anxiety to the gold dealers. Messrs. T. II.
Williams Jr. AZ Co. gave notice at the board of their
resumption OF business, all claims arising from their
was in the main dull, the promn ent brokers and
operators being in attendance at the ceremonial OF
unveilng the Vanderbilt bronze at st. Johns Park
During their absence mock ceremony took place
in the Long Room ana created a great deal of
heavy and went of, but then rallied, the whole
market being strong on small transactions. In the
case Of the new issue of Erie, the special committee
OF the board decided to-day that the stock was
good delivery after thirty days from the notice and
after proper registration at the trust company The
Western railways were conspicuous in the advance
in the afternoon excepting Lake Shore, which en-
cOuntered strong bear movement and was
heavily sold. An official despatch from Cleveland
says that the earnings Of the Lake Shore and
Michigan Southern Railroad for the first week
in November show an increase Of $4,000 over the
corresponding time last year. Northwest and st.
Paul were active and strong. The Vanderbilt
shares derived buOyancy from the ceremonies
at St. Johns Park ana nearly two per cent. The
market was dull at the close and prices fell Off from
the best figures OF the day. United States Express
stock declined in consequence OF the increase of
freight tariffs on the Erie road. The resignation of
the Assistant Treasurer General Butterfeld, having
been accepted, State Senator Charles j. Folger, who
was originally General Grants choice for the place
on the resignation of Mr.. Van Dyck, has
been appointed, but will not assume the
duties OF the office until the usual inventory
is made Of the treasure to be consigned to his
charge. The Government to-day purchased 81 O00 600
OF fve-wenty bonds to be held subject to the action
OF Congress The offerings nearly SIS, 600 000 an
impression existing that an extra amount might be
TAKEN The 100000 accepted cost the Government
1926, eX-lnterest. The large amount offered at the
Sub Treasury, and the fact that there was extra
purchase, led to sharp downward turn in bonds
after II oclock, and prices fell oil half to three
quarters per cent