The New York herald., 1869-07-14
FINANCIAL AND COMMERCIAL.
TUESDAY, July 1916 P. N.

TUESDAY. July 1876 M.
The money market to-day worked with great ease
up to half past two O'Clock with seven per cent as
the prevailing rate call and exceptions at six per
cent In some rare instances on government col
laterals. At the hour specified there was a sudden
renewal OF the money-dealIng operations on the
sidewalk in front OF the Stock Exchange so common
in the late stringency gold interest was bid for
large amounts. The demand seemed SO arunclal
that it did not create any serious apprehension
although the biddilg at one time was active
enough to have led TO extra legal rates
had not the lear OF the District ATTORNEY
and Grand Jury restrained them. 1t was SAID
among other things that the Secretary OF the
Treasury had changed his mind about buying bonds
tomorrow because the price had been run up on
HIM so much. In connection with the free sales OF
stock the movement was generally regarded as In
the bear interest. AS forming portion OF the history
OF the recent docking up' Of monay the following,
from the Boston ADVERTISER OF saturday, Will be read
with INTEREST,"
Some of the banks were visited this morning by
express agents with drafts uraWn by banks III New
York, for which greenpacks were demanded, with
orders protest the drafts II the legal tenders were
not forthcoming. The matter was looked upon as
rather sharp practice: but Notwithstanding tAe pc
culiar character Of tue transaction we understand
the drafts were promptly paid although some OF the
institutions mad large credit balances III the new
In the interest o the ''ocH-up" combination Ill tnat
city.
Foreign exchange was nrm but inactive at the
quotations-l09A a ITO for good to prime bankers'
sixty DAY sterling and lloa llO5s Tor sight bills
Government bonds were very strong at tae open
fng, the 62's advancing to Ia and the o.s 10 l2OK
These prices were not sustained In later transac-
tiOns and the whole market yielded win the IN
settled price for gold. weii as through dsappoint-
rnant tat he
highest So, and closed at sl2S. Under The advice
Qf brokers there was good deal OF realization on
the issues which experienced the advance arising
out Of Secretary BOutwel.s programme OF purchas-
ing an extra nine millions OF bonds during The
month In addition 10 his regular purchases
for the sinking fund. and diversion of the invest
ment demand to the ien-fories and currency bonds,
which, in turn, showed better quotations The mar
ket became steady at Tie reaction. however, eX-
hbiting the great strength which has been commu-
ncated to it by the action OF the Secretary of the
Treasury, and closed win the following street quo
tatons-Unted states SKIES, 1881, registered 1908
o 1904; do. do, coupon. 1908 a 1898; do, ave-
twenties registered, 12l> X 1872; do. do, coupon,
1862, 1925 1913; do. do coupon 1864 l21 II 1915;
do. DO, coupon 1861, i2lA I2l5s; do. do coupon,
new, 1865, 120 Il 1905; do. do, coupon, 1867 100
l2O4; 90. do, coupon, 1865, 100 d l2oA; do ten
f0res, registered l09ls 1l9 DO do, coupon, li04
a l10t; currency bonds 1923 1875.
4 In Southern securities there was a frmer market
although prices followed the current OF the general
stock list. The Tennessee new bonds were steady,
but not strong while The new North Carolinas were
Grm and active, advancing to 47A In the afternoon
prices receded with the greater activity In money,
except for new North Carollnas, The fol-
lowing were the afternoon Closing prices:-
Tennessees, eX coupon, 81 62a; do, new, 55h4 a
55M; Virginias, eX coupon, 571a 57ai; do. new Gl
a 62; Georgia sevens, 931s; North Carolina, ex
coupon 81 67sz; do new, 47al 4s; Missouri SKIES,
Ss; do, Hannibal and st. Joseph S9s4 bid LOUISIANA
slXes, 6sA q 69iz; do, eyce skies, cas- q CT; do,
eights, SO a SO; Alabama egbts 92 a "a; South
Carolina skies, old, 6s Il 60; do, new, % 66i.
Gold was firm at the opening in consequence OF
the engagement OF nearly haif million dollars for
the Sesia, which sailed to-day, and the price was
run up TO 1917, the movement being aided by the
London quotation for our bonds which is such as to
prohibit further exports, II not lead to their being
sent this way on speculative account. The advance
brought out sellers and the price was hammered
back full one per cent, after which there was re-
action and quiet market at the Close The course
M the premIum Is shown in the rable:-