The New York herald., 1869-05-15
FINANCIAL AND CONNER GAL.

FRIDAY. May l4-6PM
The activity OF the London money market, which
set In 80 sharply week ago, has evidently
spaed very lttle for the cable to-day brought lower
prces for bonds and eonsos. BY one Of those
markable condolences which are so frequent, and
for that reason suggestive Of trickery. the closing
London quotation last night, which was much
lower than at the one O'Clock board was not re-
eeived in the street until after business hours.
Hence governments opened weak this morning and
much uncertainty existed to the course OF the
market which wass dssipsted toward noon, how
ever when the figure 10 was received 62's and 67's
sympaIhetcay advanced to the quotations l2o14 and
1ls respectively The foreign quotation came 7Sy5 at
the close OF business In London and later private de-
spatches placed 1t as low 7s1; but the government
market maintained its strength and refused to yield
The larger firms and prominent operators are "opg"
OF bonds, and the market is not easily depressed.
The abundance OF money enables even weaker
dealers to carry large loads and as the market has
steadily repeated the example OF the toad in the
well advancing after each decline further than it
FELL there is very general confidence in the nna sue
cess OF the "bur side OF transactions. The follow
ing were the closing street prices al four O'CLOCK tns
afternoon:-United States SKIES, 1851, registered,
1204 a l2l do, coupon l2l III u; do., hvetwen-
ties registered, ll6H ll6il; DO do, coupon, 1862,
1904 l2o1S; do do, coupon, 1864, 1l61s ll64; do
90, coupon, 1865, lltI llo1s uO uO, coupon looo
new, 1lSls 11s3s; do do, coupon, 1857 l1s4
IIs3S do. do coupon, lses, llsi+ lls1s; do, ten
fortes, coupon, lo95sa 1oe&; currency bonds, 1868
0 1903.
Gold was more sensitive to these foreign influences,
and advanced 10 IseA4 before the actual closing Of
the Gold room. Underlying the strength OF the
premium is the necessity OF making payment in
gold or its equivalent for the heavy excess Of our
imports over our exports Exchange has slowly
crept up on this account. Hence, as the present
prices OF bonds IN the home market leave margin
for their shipment, which would afford the equiva
lent for gold in settling the balance OF trade against
us, the holders Of gold armer in their demands
Gold went up, not for the immediate reason that
bonds have gone down abroad, but because the ne
cessity for shipping gold is more imminent Were
not the government selling gold and dsbursing IN
terest in these days the extravagant amount OF
our imports would be still more seriously felt. As
TO the decline in bonds abroad IL is to be regretted
It continue, but its Will hardly remain with
downward tendency. The contradictory reports Of
Secretary Boutwell's policy in buying bonds have
net reassured foreign investors. When the fact is
definitely stated that the purchases will be made for
the sinking fund, and that the retired bonds will
not be ressued, English and German capitalists will
be more willing TO extend their investments. There
Is SO much speculative trickery in American fnan
cial matters both public and private, that the
foreign moneyed man ID often at q loss to place re-
lance IN our professions, national or individual.
The range In the price OF gold was as follows