The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-04-20
The New York Money Market.

From the ~ Y. Herald
'MoNDAY April 1916 p. M.-The course OF the
gold marketis still reflective OF the opposing inn
ences of the Cuban question and the Alabama claims
dispute on sne % one spS ap npc ss Ch %
quite contrast to the figure which prevailed only
a few weeks ago. The unsettled state OF the public
mind as to the course which the administration
will pursue in the controversy with the Spanish
authorities at the island OF Cuba aids the ope-
rators for a rise; but as great many were
purchasers OF gold at lower figure, there was dis
position in the forenoon TO SELL and the price settled
to 18SH but reacted in the afternoon. me measure
on the Flve-twentes has brought comparatively
little gold into the market from the Treasury, owing
TO the demand for rebate of six per cent We're
the offer to cash the May coupons unconditional, II
would afford great relief TO the gold-usng branches
OF business in the metropolis. The arrival OF mill
lion on Saturday contributed to the yielding Of the
market to-day, but as the amount is relatively small
It was absorbed in the great whirl OF metro
politan commerce. The European steamer brought
$4,000 in specie to-day. Less than half million
anticipated May and July interest, under Secretary
Boutwels recent order. The rebate amounts TO
about $780, The market soon got the effects Of
these Influences and q regular furry was produced
upon receipt OF the news Of Senator Chambers war
like speech in defending his proposition TO take
claims. Street rumors TO the purport that volun-
teer expedition had gone to Cuba added to the ex-
citement OF the Gold Room, in which business was
transacted for several hours after the formal ad-
ournment OF the board.
'Cash gold was in good demand, and rates for bOr-
rowing ranged from per cent per annum to 132
per diem with an exceptional instance at per cent
Tor carrying. After Clearing House time 64, 1872,
and 364 were paid for borrowing The following Is
the report of the Gold Exchange Bank:-God
cleared 500 o22O Ooo gold balances, si,so4o67; cur
rency balances, 81, OPS
"At the semi-annual meeting OF the Gold Exchange
to-day the Treasurer, Mr.. George Phpps, presented
his report for the six months elapsed since October
l. during which time the receipts of the board were
S115,683, and the expenditures s1S,90. The Secre-
tary, MIR. j. W. Moses, rendered his resignation
The election Of his successor was ordered for Mon
day next
i'The market for foreign exchange was more
Qtp file
advanced to 10Sh The demand for bills with which
to remit the payment of the May coupons the
bonds held abroad stimulates quotations. further
heavy consignment OF these coupons was received
reaction in the European investment demand for
tvetwenties, it is hardly probable that the:exchange
market Will do otherwise than follow its usual course
upon the approach of summer and go upward.
"At the opening OF business Governments were
strong, but were subsequently pressed for sale to
Gently while the foreign quotation came in unavora-
bic. decline to 81 "a at London followed by q
still further yielding to 81 and private dispatches
say S01. Under these circumstances the market be-
quoted as high as 115A@15}S, fell off to lis, the 62s
yielding to 120E, but the higher price OF gold kept
the market steady at the decline until the announce
ment of the becose speech Of Senator Chandler,
when it again gave way.
''The money market was shade more active than
on Saturday, but the demand was met at seven per
cent, currency, the uniform rate of the day call
loans with all the various classes of coaterals.
Commercial paper felt the influence Of the altered
tone Of the money market much more sensiby to-
per cent. The range of rates is from this figure to
twelve per cent. The suspension OF a Washington
street packing and provision house announced
to-day, the reported liabilities being $4,000"