The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-14
FINANCIAL AND COMMERCIAL.
FRIpAY. Aupust 18-eP.N.

large onerines 10 government houses al the lower
figure Seven per cent continues to be the ruling
rate with the banks and sock houses, with On abun.
dant supply OF currency, rather OF the de-
mand. Shipments 10 the Southwest continue on
moderate scale; but with returns from other quar-
tiers and ihe extraordinary Treasury disburse-
ments promised on bond purchases but little
apprehension Is felt OF any greater stIin.
Sency. al all events for the balance OF
Ibis month. What the future condition OF the money
market may be when Secretary Boutwell, has com
peted his operations, as announced, ID excltng
considerable attention, and as II VIII greatly depend
upon his anxiety Is felt TO learn his In
tentions or proposed dealings for September ana the
succeeding months, II very generally felt that In
matter like this whore oil classes OF business men
are 80 directly interested and where the publication
could possibly result TO the injury Of the govern
ment, that the extreme retcence OF Mr.. Boutwell,
In regard to his policy 10 uncalled for
and unfair to the public. The complaint
Is made that the Secretary seems to
regard the public one party and the government
as another between whom there is no reciprocity.
and that he, a. the agent OF the government s
charged with the duty Of guarding its financial
policy in secrecy and envelopng its operations In
mystery, lest It he overreached by the rival public.
This Is certainly mistake. The government ana
people one touching all questions relating to the
financial condition of the country. Their interests
are Identical and should be dealt with In har-
mony. ON questions of national policy looking
to great changes In financial administration
they may hold different views, but In regard
to the simple working OF the department,
the balancing and adjusting Of monetary disturb
ances. when the Treasury commits Itself to interfer-
ence with the course Of exchanges the government
and the business men Of the country have but the
same interest, being both equally DESTROYS Of main
az
AS tho best experience aud ripest Judgment OF our
merchants and fnanciers always at the CON-
mand OF any administration to aid It in the solution
OF whichever financial problem may call for the ad-
vice Of practical men, and all the knowledge
they possess Of value In such connec-
ton freely at its disposal thia childish
effort a. mystncatlon on the part OF Sec
Rotary Boutwell,, which serves no good purpose,
and abstracts men OF enterprise, Introducing an ad-
ditional element Of uncertainty into their calcua-
tons worse tnas all the other chances they have to
prepare for not only outside the spirit Of In
situations, but both ungenerous and unjust, pcrpex-
ing most those who are most entitled to the very
opposite consideration. It IS not even charged that
Mr.. Boutwell, intends to be thus offensive, aud, with
the same Indulgence that other errors Of his have
been received, 1t Is readily explained as q
consequence Of his Independence. Without any
previous training In financial matters OF
prackdcA 0altrc II Is uuHb Qt6 p0S6luy 0Oeb
.norcomprehend the perplexty that may arise from
want Of knowledge In regard to hts future action,
and allows himself the opportunity Of changing his
mind regarding that action, IL has even been made
up, BY not giving 1t publicity. Such ON excuse has
served during the dull season; out with the opening
OF tho fan and the inception OF the grain and cotton
movements producing grave changes IN the none
tary situation, something more is wanted than dis
position on the part Of the Secretary to act as occa
sion may in his judgment require, or assurance that
he will be guided by circumstances and operate only
tortne best interests OF the government, without
prejudice to any c,ass Individual Preparations
have now to be made to meet the possible chances
of the money market during the coming fall and
winter, and IL Is important to know what Mr. Bout
well Intends doing dnring that period. Has he
made MP his mind and will he speak u CONNER
cial paper continues dull, and only irst class &C
ceptances are current at high yates, nine and ten
per cent
aoid opened with firm feeling this morning, the
decline of yesterday inducing large purchases by
Importers, who have beea waiting for favora-
ble opportunity 10 buy. Tho first sales were
made at 1s4X, but tho price quickly ad-
vauccd TO y. From this point there was
steady decline on speculative sales TO
124k. which figure was reached ct shortly after
two O'Clock. From this point reacted. and on pur.
chases to cover advanced to 134K, closing In the
room at 1885, subsequently sales were made at
i3s< 134,s and 1344, the market leaving or at the
lass figure In the loan market cash gold was at
intervals In demand, the rates ranging from 10 1
per cent for carrying to fiat for borrowing. The
disbursements of coin interest to-day amount 70
$5S,470 80. The operations Of the Gold Exchange
Bank wcre:-Gross clearings S107 2s4. 900; gold
balances $a3aasss; currency balances, $a,l76,4il.
Governments were dull ana weak to-day, with
further fractional decline In prices, but without
other features. Towards evening tne market be-
came frmer and partially reacted. closing strong
at the following ngures:- United States skies. 1881,
registered, 122ts 122X; do. do, coupon, 1924
I2sH; do. nvetwenties registered, 12lX q 122x;
do do. coupon, 1862, l2sh a l2sx; 90. DO, coupon
1854, 122K 1z2's; do. do, coupon 1896, 122H .
l2sk; DO. DO, coupon, now, 1886, l2ox q III; TO-
DO, coupon, 1867. l2ix 12i4; 40. do coupon.
1884, l2o% a 12l; DO ten-forties registered. ITO q
l1oH; 90. do. coupon, ia o 114x; currency bonds
l0sK q ITO.
In The market for State bonds Tennessees and
North Caronas we're the features In improved quo
tauons from those OF yesterday. In the afternoo n
however, the issue Of the former went or again
to 5l ct which figure sales wers made. but subse-
quently recovered, and at the close stood SIX a6IH
The rest of the list were quiet but steady.
In the stock market the Vanderbilt shares wero
strong on runors OF the successful progress OF ne
golauons for tue consolidation OF New York Cen
Lra una Hudson River on the basis OF 40
for the former and 200 for tho latter The
market was somewhat erratic during the
day, although generally Arm on the Western
shares on a lower range OF prices About four
O'CLOCK, while the Long Room was only sparsey ten
antcd, raid was made on the market which carried
prices down considerably, but It very shortly re-
acted closing firm, although below the best figures
ofthe day, which on tho Vanderbilt shares were New
York Central 2l3H: Hudson River 100 and Harlan
100. These prices were made OIL the street. In
the morning, before the first CALL The following
were the prices tho second collaboration. 5sk q
co; Cumberland, S5h a 80; Western Union ssss
3s1s; Quicksilver, 15A 10; Mariposa, bid DO. pre-
fcrrcd LIZ hid pacian Mill aal nesal. Raaton Wafnr