The New York herald., 1869-07-08
FINANCIAL AND COMMERCIAL.

WEDNESDAY, July 7-6P M.
The course ofthe markets to-day was as variable as
tue weather On Gay in April-hrst cloudy, tnen
sunshine, then clouds again. The uneasy ana de-
pressed feeling which marked operations yester-
day continued this forenoon, and as s'rlngehcJ
In money was maintained with steady vigor the dis
appointments was quite profound ana the tendency
10 sell became 50 universal that there was an ex
tensiye 'unOading" all around. The apprehensive
feeling as tomoney was heightened by reports that
the currency balancs Of the Treasury on the LIST OF
July was forty millions instead OF thirty
seven millions as at first stated. II led
20 downward movement at the first
board which was unchecked in the imme-
diatey subsequent transactions in the Long Room,
the Gold Room and the Government Board. The
earliest rates on call were sixteenth and an
eighth. but ~ high three-sxteenths was freely
paid and perhaps one quarter exceptionally. The
depression wa, greatest about O'CLOCK. Soon
after the >ad Oarnment Of the last Board q run0r
started that Secretary Boutwell, intended pur.
chasing from three to seven millions Of bonds this
week zone version had 1t Tomorrow and the
change was instantaneous from gloom to buoyaDcy
ana confidence. At the same time the rate for
money relaxed to seven per cent by three O'Clock
and was lowered at six. Toward half-past three,
when there wers very few borrowers. and back &C.
counts seemed to have been all made up,
thc story was then doubted. because the Assistant
Treasurer, General Butteried had received init
nation OF such step on the part Of the secretary,
and washington kilograms did not confirm 1t. Those
who had been Ia such haste to buy now began to
query whether they had not been vlctimzed by the
ciques agau. The circulation OF the story ut such
time has q very suspicious appearance. II is to be
hoped, OF course. that Secretary Boutwell, will re.
lease currency 20 general use but the report to-day
seemed premature and stock gambling device.
Whether true not, it was very skilfully used by
the cliques. In the rush to lend money at the close
they probably aided the buoyancy Of the moment by
contributing TO the supply of funds available for
loans while the smaller dealers IN money were
frightened into letting their money go at any price
in preference 10 icepng it unemployed over night.
Foreign exchange was 1rmer, under q better
demand Tor bills. originating In the lower price OF
gold. ana the prime bankers put up their rates to
10 for siXtJ days and 1l0S for sight sterling bills
The change took place in the afternoon simui-
taneousiy with the easier state OF the money market
fne range quotations was as foilows:-Ster-
ling, Ssxiy days. commercial, l0o a l0J1s; good to
prime bankers, 1925 1l0; short si,ht, ll09S
io: Paris, si..ty days 5.1S2t 5.132l; short sight
5.12& a5.1G; Antwerp, 5.1S2i 5.192i; Switzerland
5.lS}l a 5.151i; iiaublrg, 351a S55s; Amsterdam,
4Di6 A05d; Frankfort, ,40x 403s; Bremen 7Ss as9;
Prussian thalers. 70;s a 71h.
The gold market reelected these changes very
closely. Under the continued stringency in money
there was steady decline TO 1874. The recol, how
ever, was greater than the fall Assoon as mooey
became easy and exchange Suffered to 40 there was
rush to buy, which carried the price to i35k, or
one-quarter per cent above the opening figure.
Under the doubt rs to the truth of the rumor OF ad
dttonal bond purchases there was falling of. and
he market Closed unsettled. The range OF the price