The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-13

During the ensuing three weeks the amount OF
currency TO be released from the Treasury WILL there
fore be nearly fifteen mllliOns-a very valuable &C
QusItlon TO our local circulation
. The money market while fairly active at seven
per cent currency, was characterized by no irregu-
Jar fluctuations undetermined extra legal rates.
Even gold interest," II paid, was exceptional.
good many loans were made at six per cent ON
prime coaterals or where they suffered
TO remain unchanged from saturday after
noon. Even on governments, however there
was a good demand for money at the full legal
ngure showing that While the popular feeling anti
cipates a very easy market the Treasury disburse-
ents have not been large enough as yet to produce
1t right away. The absence Of high raSes was also
attributable to continued fear OF what Is passing
in tue Grand Jury room, and no little consterna-
ton was created by the appearance of some law
officers In Wan and Broad streets to-day. Com
nefcial paper was in better demand, but rates
remained unchanged, the range OF discount being
from nine to twelve per cent for prime bankers and
dry goods paper, running sixty days four months.
As might have been expected there was great ex-
citement IN the government bond market, and heavy
transactions took place In those issues which are
within the scope Of purchase by the government.
The July bonds, the 65's and the 67's and 1875
opened about two per cent higher than they closed
on Saturday. There were no intermediate prices
but clear '.ump." At their highest the 1918
reacbed 1904, which, as they are eX coupon. ranges
them alongside the 1928. Flve-twenties IN London
had not fully felt the effect OF the news or the market
there IL unusually dull, for the closing price came
night at 81 compared with 81 at the opening.
Uness there Is an appreciation abroad the home
prices viii leave margin for remportation. The
of the government list was strong BY sympathy
with the five twenties which were more Immediate
iv afYsff ted hUE
There IL disposition, in some quarters. to complain
OF tins sudden determination OF the Secretary, DC
cause lie Will have pay two per cent higher for his
bonds next Wednesday than he would had he de-
c.ued on purchasing smaller lots more frequently.
Two per cent on three millions Is sixty thousand
dollars. The saving Of interest by Withdrawing the
bonds is therefore dicu 1t to be seen. However, IL
IL impossible to please everybody IN Wall street. ana
those who grumble are probably short OF the
market. Secretary Boutwell, gave them King Log
when he sold gold. Now they complain OF King
SorS when he tries to make money easy for them
by buyiug bonds. The market was steady but less
firm toward the close, many holders being tempted
to sen and take their prots ut the rise. The follow
ing were the final street quOatOns:-United states
skies 1881, registered 1908 i2oA d. do, coupon,
12osf i2o5s; do. 5-20s, registered, l20A 121l<;
do do. coupon, 1852, 1885 1874; do do, coupon,
1884 I2I,, 1214 do. do, coupon, 1885, 121h
I2IA; do. DO, coupon, new, 1868, 10 l20'4; no.
do, coupon, 1867, 1905 12oh4; DO. do, coupon,
1883 100 a 1904; do. ten-f0rties, registered 10sh
iio; 90. do, coupon, 1924 10; currency bonds
1914 ID7is.
There was an improved feeling in Southern securt-
ties, led by an upward movement IN new North
Caromas. New Tennessees were weak at the open
Ing fell TO san but then recovered with the whole
market The closing prices at the last board were
Tennessees ex coupon, COZ 81; do, new, 65 a
55H; yrginias, coupon, 67ia IS; do, new, 6lso
61x; Georgia skies. 80 bid; do, sevens, 90 93
North Carolina, ex coupon, 541a bid: do, new, ASA
bid South Carolina new, 8s CT; Missouri SKIES s7j.
bid; Louisiana skies, 10; do levee skies, GO bid;
Alabama cIghts, o. a94
the decreased sales OF government gold and the
immnence Of gold shipments, as Indicated by the
larger quantity OF specie sent last week, as well as
the easier feeling In the general money market led
to q revival OF the bullish feeling in gold, with an
advance from 1866, the price of the earliest street
transactions to 1874 before the final close Of bust
ness IN the Gold Room. The Clearing House returns
showed few short sales for Saturday and the carry
ing rates disposition to cover those outstanding to-
day. The course OF the market is set forth in the
tafbt