The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-04-24
FINANCIAL AND CONNER GAL.
FRIDAY, April 23-o p. n.

FRIDAY, April 23-6 p. n.
The money market, which at the close yesterday
under the apprehension OF gold sales by the Trea-
sury had become active at the full legal rate OF In
terest underwent rather sudden change this after
noon. During the earlier hours there was con-
tnued inquiry under the renewal of this apprehen-
sion, and call loans were made at seven per cent.
After two O'Clock, however, 1t was found that the
demand had been entirely satisfied and, large bal
ances could NOT be placed at any rate OF interest
and went over night unemployed. Tho reaction
was also quito perceptble In commercial paper,
which showed concession in dsc0unting rates,
prime double Names at four months selling as low
eight per cent The range OF rates was from this
figure to eleven per cent The banks, In dlscounting
freely for their customers, have withdrawn the
competition OF great many drawers, so that with
the decline Of the rates on call the demand Is rather
from buyers than from makers. The passage Of
statement day will also enable the country banks to
resume their fav0rite operation Of purchasing paper
for the sake OF the margin between its discount and
the market rate OF interest.
The government market was quiet and dull, with
o hrm undertone, with very little nuctuation In
prices throughout the day. The London price came
SOA, which was maintained to the close OF business,
and exhibits reactonary tendency in the foreign
market. As this is Friday, the weekly meeting
day Of the Bank OF England directors, 1t also shows
that there has been no change in the rate OF discount
and that all apprehension on the subject has
passed. The following were the closing street quota
lions this evening:-Unied States sxes 1881. regis
tered, III 1l74; do, coupon 1I7S 117x; do i've
twenties. registered, liz ll2; do. do coupon 1862
1905 12lh; do. do, coupon, 1854, 1875 110; DO.
do, coupon, 1865, l1S5s 1lSj4; do. do coupon,
new, 1865, 1l5E 115H; do. do, coupon, 1857, 15
l15H; do. do, coupon, 1865 ll6 115h; do, ten
forties, registered, 1o5A 1o5; do do, coupon,
1o0 1905; currency bonds 10i2{ lo4T.
In Southern securities the feature was the Ala
bama eghts which advanced to par, 100 being freely
bid at the close this afternoon The fact Is one OF
the gratifying signs Of the financial reconstruction
of the South. When the war closed 1t would have
been deemed visionary to prophesy that any South
ern state stock would be worth par In the year 1882
The Tennessees pressed for sale to realize the
recent advance, and closed about one per cent
lower. The Louisiana bonds were strong and steady.
Lieutenant Governor Dunn was introduced at the
regular board this afternoon, and In conversation
with the members was asked his opinion OF his
States securities. He assured his hearers that they
were cheap at present prices "GOvornor, you
would not go short OF them, then would your" In
CURED would.b "bearn 81 do not know what you
mean.n The expression was translated amid con-
siderable good humor at his colored Excellency's
ignorance OF the argot Of Wall street, when he re-
peated his assurance that Louisiana was IN very
nourishing condition and her bonds desirable invest
ments. The following the closing street prices
for the leading stocks the Southern list:Tennes
sees, ex coupon. COX 10; do, new, 67h IS, Viz
ginias, ex coupon, 5sh 80; North Carolinas ex
coupon, 81K 6lh; do, new, SAX san; Lousi-
ana skies, u o 73A; do, levee do, 70h 7lK;
do. do, eghts 81 IS; Alabama Fights, 100 1coK.
As was expected late last night when gold under
went its sharp Decline the prime bankers put up
fba,r tod IN for al a va
bills. This figure is nominal, however. for large
amounts could be purchased at 1osk, while the I'M
settled and sensitive state OF the gold market keeps
buyers inactive. The following was the range OF
Misunderstanding 90 days, commercial. 1917
IOs; good to prime bankers, 10Sna 1885; short
sight, 1OsH 10aH; Paris 60 days, 5.25 $780, short
sight, $50 6.171S; Antwerp, 5.26 $40; switz-
erland, 5.25 q $50; Hamburg, 361S S5S; Amster-
dam, ssA 4oA; Frankfort, 4o1s 4oil; Bremen,
77X o 7st4; Prussian thalers, 70H q II.
Dealings in gold were feverish in consequence OF
the uncertain conditions attaching to the proposed
| sales OF gold by the government. Under rumor
| that the order had been countermanded the price
| advanced at one time to 1884 but the following
notice from Mr.. Van Dyck, the Assistant Treasurer,
| put an end to the story
BY direction OF the Secretary Of the Treasury
purchase OF gold VIII be received at this ONCE until
| noon OF Thursday next, 29th inst, when the same
will be received for not less than $751; GOO and
payment may be made either In lawful money or
three per cent certificates. Successful bidders Will
be required to deposit five per cent OF the amount of
the purchase on the day OF sale. Like proposals will
| be received on Thursday Of each succeeding week
until otherwise ordered
| 1t will be observed that Mr.. Boutwell, does not
specify what amount he Is willing to sell. one re-
| port in the Gold Room this afternoon stated that
| Mr.. Boutwell, had teegraphed, in answer TO the IN
| qury OF Mr.. Van Dyck, that the government
reserved the right to sell any amount 1t saw IT. and
would be guided by the character OF the bids. The
effect was very feyersh feeling In the gold market,
| and operators are sorey puzzled to know what to
| do. TIE orgina order was modified SO as to SUBJ
stitute the words 'lawful money! for "greenbacks'
In the equivalent for payment. This alteration SO as
TO permit the use OF certified checks was doubtless,
| one secret OF the sudden transition OF the money
market to its easier condition this afternoon. The
range Of the price OF gold was as follows:-
10 A. Nh. .133k Up. M..............133H
! IL A. M............133a 2P. M..............133ss
1851 A. M...........133k SP. NJ. 1894
IL ....1333s 4P. M.............I333s
i2:ai +. M.......... 1889 5P. .1ss9s 1887.