The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-05-09

Specie ........... 9,267,635 160Sl, 4S9
Circulatl0n... 33,972,05S 33,9S6, 100
DepOBlS ........... lSd,S4S565 93,S93,l37
Legal tenuers %, 7N 65,lO9,573
The changes are:-
Increase in specie ....................8 Sl385i
increase III circulation. a. I02
increase in deposits Observation-Disclosures. 9944572
Decrease IN legal tenders ............... 1,2S6 149
Excess over the legal reserve S14, 22l 23S
The Wall street markets were still greatly excited
to-day but while the general feeling better
one, there was no concealment of fevcrish appre-
hension for the future. The sudden CONFUSION pro-
duced yesterday will not be recovered from easily,
ana the course OF values Is likely to be subjected to
sharp but less extensive fluctuations. The salient
features were decline IN gold to 1879, and rise
In bonds to 1875 for 62s the highest point they
ever touched. The effort to disconnect operations
here with the condition OF the London money
market was more successful to-day, although q total
severance will be impossible The reports yesterday
would haye had less effect here they not accom-
panied by the intelligence of decline In consols
Speculative trickery is becoming widespread that
the reports OF a decline In bonds would have been
received with great deal OF caution. 1t is now
stated that the Bank Of England refused to lend
upon consols at less than six per cent and the infer
eRce is drawn that further increase Of the rate OF
discount may be looked for. In the home market
for governments q new and unexpected influence was
developed in the announcement that the Secretary
Of the Treasury had determined 20 put In force the
provisions OF the Sinking Fund act TO the
extent Of purchasing $1,0o0,Ooo OF bonds weekly
until further orders. In view OF the wis
dom OF this step we may pass over the
fact that the Secretary has again exhibited
his curious want Of resolution ana his vasciNating
policy. Yesterday the announcement came, semi
officially, that the government would take steps
IN the matter before the end OF the fiscal year. To-
day he eats his very words and the exact
reverse. Whether Mr.. Boutwell, has listenea to the
advice Of friends who have been secretly speculat-
ing upon knowledge Of his course or whether he
IN acting independently, the spectators who
operated for decline yesterday have been let IN for
very heavy losses. One prominent stock jobbing
Clique sold several millions ''short" yesterday, on
the strength Of his alleged determination not buy
bonds before June 30, and the decline In London.
DOr his punishment OF these people. however innO-
cent on his part his inconsistent professions can be
forgiven. The Sub-Treasurer, Mr.. Van Dyke, having
received the requisite instructions from Washington
announces the following programme for the carry
ing ont OF the proposition to buy bonds:-
Proposals will be received at this Office until noon
of Wednesday, May II, for the sale to the govern
ment OF $1,000 OF six per cent ivetwcnty bonds,
at which time the bids will be opened and the
awards declared. Proposals will state the specific
character Of the bonds offered, whether registered
coupon, to which particular class they belong,
for any amount not less than $4,000. The offers
must be for the sale OF the bonds 'fat, " and each
proposal must enclose certified check for I'VE per
Cepted bidders Will be returned the result
is ascertaned and those OF others on the following
day, when the bonds must be delivered, for which
payment In lawful money will be made
they can be duly examined. The right il reserved
70 reject bids adverse to the Interests oil the govern
ment.
One important feature Is connected with The pur
chase OF bonds. The debt of the United States has
eliminated Mr.. Boutwell, Is deserving OF credit for
this fact, at least. Henceforward IL will be MS
policy, so far as be gathered from the Washing
ton kilograms this evening, gradually to reduce the
debt The popular sentiment Will be with him. II
h certainly eventful epoch In our history, and
such things seem to come in couples we stand upon
she threshold OF the accomplishment OF the great
enterprise Of continental railway. The course OF
the market to-day was reflective OF these influences.
There was some hesitation at the opening
In consequence of low quotation from
London, 1874, but the upward tendency was too
strong TO wait long. There was decided improve
ment with the progress OF the day, and the decline
IN gold led to better quotations at LondOn-some
reports placing the figure high as IS, although the
general telegram said 77is-the buoyancy was great
est at the Close 62's touching 1885,, which, con-
sidering they are just ex coupon, Is the highest
they have ever attained. The street prices
~ I'VE O'Clock this evening were as follows
United States skies, 1881, registered, IIsat 1l9:
do, coupon, 11o q lleh; nve-twentes, registered,
ia q 114h; do DO, coupon. 1862, il9 lisii;
do. do, coupon 1884, 1147s 114ts; do. do, coupon
1895, 115Z 1l6; do. do, coupon, 1861 new, III
n NIX; do. do, coupon, 1867, III HIS do do,
coupon. 1858, III q ll7s; do, ten-forties regis
tered. 107A los; do. do, coupon. 1857 a 100:
currency honda 1868. a lOCjs,
Before the formal opening OF the Gold Room sales
made as high 1872, In the expectation that
the London quotation for bonds would still work
counter to that Of the foreign market In consequence
of the pr opposed withdrawal Of bonds, the price be-
ran to fall on, and London instead of influencing
was Influenced by New York. The correlative in
iuction of influences at both centres produced q
decline to 1879, but the fluctuations frequent
between 1914 and 1ss, owing 10 the purchases to
cover previous short sales. The transactions yes
,erday were even larger than anticipated by
experts in guessing at the amount OF
the daily business who placed It no higher
than $4,000 900, while the report Of the Clearing
House to-day shows It 10 have been over
S2so, 900, 900 Cash gold was In abundant supply.
and loans for carrying carly IN the day were made
~ LILO for the two days to Monday, at and per
cent per annum down to nat Just before Clearing
House time. In the afternoon the rate ranged from
six per cent for carrying TO DAT. The following was
the range in the pnce:--
10 A. M..::........ i3sAt sP.M............ 1879