The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-12-03
THE NEW YORK MONEY MARKET.
From the Herald.

From The Herald.
'"The refusal OF Secretary Boutwell, to accept the
treasure has checked the speculative tendencies OF
the gold market and put limit to operations inthe
precious metal. The clearances to-day at the Gold
Bank were only twenty five millions as against fifty
millions yesterday, aud the probability is that to-
ton. The price nuctuated between the compare
lively narrow Its Of 1925 and 1925, and was SUBJ
thus the highest price, 1928, was made when the
eaTryin rate for gold which had begun to deter many
from lls and 86l 70 cent while late bor
rowers were content to balances for six and three
great measure TO the snuiisneo relaxation OF the
feeling was engendered tho day wore on, and the
%RTssssSn s general that the
ReP oGe aSeep G fOr @ as
assigned for the extra sale tho conjeotured desire Of Mr.
BE to Offset t the Of TUESDAY but il should
been positive and that the proposed sale portion
smber 8O he is under obligation to make amends for
1T in ms % p the Gold Room
Wsn omo the aoGve limits were quite frequent on small
late upon his acts ne is meeting with gratifying sue.
those OF selling the four millions last epte nber and hold
and disgust them hSt Se viii o other T d o Oot ops
Tst9n Whenever the elesranSes OF the Gold Exchange
is Spreading Mr. Boutwell, claims TO be practical
and employ TO guide himself in his proposed demonstra
ton to keep the logtmats interests Of the country
he activity in the money maTkewhc set in Tues
day afternoon and prevailed throughout yesterday
still felt in the earlier hours OF business
as high as cent gold quite freely paid for call
loans and in some few instances sixteenth 10 eighth
per cent for turning stocks. AOOut o'clock money
suddenly became abundant sud the declined per
cent indeed after hall past two and certainly in the
vicinity OF O'clock 1t might have been had loy
even per cent, but the early demand had besn
so active that borrowers had made Their sas
quite early in the day and hence lsudars
Joy ana compelled to balances unemployed
over night The uc ations in te market
De Traced originally to the of in the de.
potarles OF the city funds and the OF real
estate personal and o;her local taxes. The Vanderbilt
ehque are further charged with having ullOa1ed
luSt previous TO the recent decline and then with
hoidlng the money obtained by the sale of their
STOCKS, their operations heing timed to with
the natural aRgravaton of the market arising out of
ihe causes above indicated. Tho upward movement
IN STOCKS attributed to their buying stocks again, and
setng free the The operations Of the Treasury
IN te matter OF bond purchases have however been the
cei occasion OF the turn in the market this after
noon Ihe failure Of the gold sale Tuesday and tbs
ohase OF three millions OF bonds yesterday and to-day will
swell the legal tender item of the banks for their state
wil not have its influence until after the statement
are dininished while the demand the Southwest
mas ceased In fact exchange New Orleans ia in favor
OF new York but at high enough premium TO bring
any large amounts this way In mnercia paper there
was moderate amount of business in contrast 70 the
quantity upon the market Rates remained steady at
e 70 Twelve per cent discount for prime acceptances
anu Twelve 10 twenty cent the class"