The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-07-27
NEW YORK MONEY MARKET.

Thefollowing extracts show the state OF the New
York money market yesterday
From the Herald.
"The week opened upon more easy money mar
ket the rate on call to-day being quite uniformly
six per cent. Some loans at seven per cent, lying
over from last week, were undisturbed, and few
others were made at the same rate to weak houses
or upon inferior coaterals but these instances were
offset, on the other hand, by exceptional transac-
tions at five per cent upon prime colateras. The
drift OF the market is to still lower figures. The
hesitation owing to the recent prevalence of such
extraordinary rates and the willingness of the
street to pay what seems comparatively cheap
ones. Capital Is not 10th to earn all 1t can, and the
pressure of funds for employment is such as to Keep
great deal OF curiosity is manifested as to the policy
which the Secretary of the Treasury will pursue
after the LIST Of August particularly in the gold
600 Of gold against s2OOOO,OOO at the same time
last year, fortnes them against the embarrassment
that would otherwise attend the banking move
ment in the fall, result OF the loss to them
OF nearly s2O,OOO,00O of legal tenders, which are
supposed to be permanently detained in the South.
The purchases OF bonds for the sinking fund Will
certainly be continued, but the anxiety Is to learn
how extensive VIII be the purchases from the cur
rency balance OF the Treasury. It is fair TO presume
from what Mr.. Boutwell, has already done that he
will be guided entirely by his ability to continue his
purchases. In the winter, when Congress SITS there
is steady drain upon mis- currency resources sOT
the thousand and one expenses OF the session.
Hence he will probably economize his outlay foe
bonds by the amount necessary for this contingency
Commercial paper does not show the reaXa
east working o, the oney market. Prime bTsi.
ness notes at four months are still quoted eight to
eleven per cent. E. EN- brokers' sixty day papec
passes very he dom un'er eight per cent Tn
70 eign exchange market hrmer un the
tcipat on OF better demand for bills, arising out
the scarcity OF the larger denominations OF gold c1n
which are the favOrite shipment and are begin
ming to command premium.
zone leading house put up the rae for sixty
day sterling to 11Oh, hut the range OF the MAJ ket
was as follows:-Sterling sixty days commercial,
9i@1092I good TO prime bankers 109I@t10A;
short sight, 1102G@l10sS Paris, 60 days, 5'17&(
512H; short sight, 512k@51OS; Antwerp, 51711@
512%; switzerland, 51Ik@512%; Hamburg, 35%@
SO; Amsterdam, 406@404; Frankfort 40h940X !;
Bremen, 7SL@79A Prussian thalers, 70&@71A.
Government bonds were dun, but strong, the 67's
advancing to 12t. The London quotation for 62's
came at S2'S as a sequence OF the advance in gold.
The features were the coupon en-orties, which
to ll1H, while better inquiry for the currency skies
induced rise to 1851.
''The upward course of gold, so decided at the
close of last week, was, after some hesitation, con-
tnued to-day, the price eventually touching 6 at
which, however, 1t became sluggish and heavy. The
heavy shipments of last week keep the market
strong. The engagements Of specie for to-morrow's
steamer were variOusly reported from 100000 to
S250O00. The rate for carrying was from six to five
per cent, but one transaction occurred at two per
cent and another at nat for borrowing Just before
Clearing House time. These figures indicate large
short interes the part of those whose al-abiding
faith is I'm In cold