The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-08-26
THE NEW YORK MONEY MARKET.

The following extracts show the state of the New
York money market yesterday
From the NJ Y. Herald.
'The money market, although still abundantlv
supplied owing to the general preference ON the part
OF capitalists to employ their funds on call was
shade more active towards the close of banking
hours thls afternoon Up to this time the rate even
on miscellaneous collaterals had rarely exceeded
seven per cent, but under the better demand for
money arising out of the 'bush' tone in operations
on the stock Exchange the stock houses were larger
borrowers than for some time time past and seven
per ptdte ceht; was was more freely paid l. should be
bursed the money in payment for SS3 730 worth
Oh the bonds accepted at the Government
over million and n half of dollars, will come upon
the street tomorrow, when also part payment will
probably be made for the 600 900 of bonds then to
be retired for the sinking Fund. PAYMENT of the
bonds purchased to-day will be made two-thirds
IN legal-tender notes and onethrd in national bank
notes. Ihe Assistant Treasurer, General Butter
field, is very desirious of accommodating the mer-
chants and the community generally We have had
occasion already to approve of the reforms inst-
tuted in the Treasury building. Another with refer
ence to the payment of Government interest one
much needed, has just been maCte. General Butter
1eld has arranged that the registered coupons due
september l shall be paid in the room facing on
Pne street. instead OF in the Rotunda and that seats
shal Oe provided Tor those in waiting. To-day
thorty was granted for the further transfer OF gold
on san francisco account, the amount being one
million dollars. The sales of bills to procure gold
for this transfer reflected in the weaker char
arter OF sterling exchange, few prime bills selling
out OF second ands as low as 1895 for sixty days
were from lO97s@l99& for the former and 10956@
1lOh for the latter class Of bills The increasing eX-
ports each week and the very doubtful amount of
our Indebtedness to Europe last years business
as shown by the statistics in the Bureau at Wash
ington leave the market without strength. The
failure OF a produce firm reported to-day, but
no statement was given of their liabilities.
Government bonds were strong in response to
the further purchase by the Government the Offer
ings at the Sub-Treasury amounting to less than
four millions. Their firmnes5 was maintained late
in the day despite the sharp decline in Europe, and
the market seems to repeat its customary practice
OF holoing its own in the face of foreign decline,
however much it may advance when quotations
abroad improve. OF course, the higher price of
gold had a great deaf to do with sustaining prices,
but the general undeTtone of Governments is strong
on account of the present programme of Treasury
purchases and an expected continuation thereof
next month.
'There was an excited market for gold, the strug-
gle between the bulls and the bears waxing
very warm The latter have put out another heavy
line OF sales, revealed in the clearances and bal
to-day at the Gold Bank; but the pressure of
such sales like the superintendent weight on an
arch, seems to strengthen the bull position, [the
price rising through them to l332. In the after
noon there was reaction to 1881 but on the news
of the gold transfers through the Sub Treasury and
of lower quotations for our securities in Europe
there was another advance to 1885,"