The New York herald., 1869-12-16
FINANCIAL AND COMMERCIAL.
WEDNESDAY,. Dec. IL

FINANCIAL AND CONNER CiAL.
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WEDNESDAY, Dec. 1876 p n.
There were no new developments today In the
bounty loan frauds. The Stock Exchange has de-
cided not 10 offer any reward for the alleged perpe
traitors, inasmuch as the losers have already taken
steps to aIord the detectives remunerative incen-
tive. A very proper suggestion, however, was made
to the business community in the following commu-
nicaton submitted this morning at the session OF the
poard:--
NEW YORK Srocx ExcHASaE,i
NEW YORK. Dec. l5 1850. I
In behalf OF tho New York stock Exchange would
reQuess those having knowledge OF any crculn-
stances calculated 10 excite suspicion that a fraud
Is about 10 be perpetraed BY the utterng crcula-
ting OF stoIen altered or Forged securities oshel
wise, to communicate 10 me or in my abscnce TO
the presiding oiicer OF the Exchange III order that
the community may be warned by an announcement
from the r0strun ol the Exchange az well "a by the
telegraph whicR is operated IN the Exchange build
ing. An announcement maze at the Exchange and
'oespatchcd over ne wires would iu lew minutes
be received IN the OAices OF every firm, bank or
other Institution Ia the couaGry, loaning or deal
WM II. NELSON President.
The money market was again very active and
borrowers dld good deal OF running for funds.
The rates not below per cent coin except
IN . few instances to the government houses, and
ranged as high as seven per cent plus eighth per
cent commission Towards three O'Clock there was
some relaxation and eudars were Offering money ut
coin interest, but there spasmodic stringency
after three O'Clock ana return to as high US
sixteenth per cent for the use of money the over
night. The feeling was quite unsettled and the
failure OF one large nrm, tho suspension OF
stock broker and reports OF failures In the
dry goods trade added to the distrust.
1T was evident tlat artincal ana temporary causes
such as referred TO yesterday, 10 connection with
she operations OF the stock cliques ana the simul-
taneous withdrawal oi funds 10 meet payments on
certain issues OF the city bonds the real secret
OF the strngency. The movements or currency, so
far as the domestic exchanges concerned not
opposed TO easy money. while the Treasury opera
tons for the week are hlgny favorable TO an abun
Dance nasmuch as the purchases OF bonds are three
millions while he salc Or gold only hafa million
the money week ending on Friday, so that the sale
of gold on that day wii' not aiect this weeks bank
statement Foreign exchange was active under a
more limited supply OF bills, while the decline
IN gold prompted free buying on the part
OF the Importers. The bond bills recently on the
market have been ABSORBED. The strength OF do
Ynestic quotations for governments makes ship
anenS only moderate, while Tie exports OF pro-
duce also checked by The heavine5s and decline
In gold. Commercial paper was without essential
change, although II was apprehended the market
would have been unlavoraoy influenced by the re-
porteu suSDenslon OF the Old wei known ana very
extensive hardware importing firm OF Messrs.
Robert Patrick u Co., whose embarrassment, like
chat OF SO many houses VINO have succumbed this
fall, Is attributed to aiosses arising out
Of the decline In gold. The winter SO
far has been fruitful OF disasters to the
importing interest. The government market
was steady, If not strong aud bnt slightly SEN
stiye to the depressing Influences OF the activity
ln money aud tho decline In gold, the
tations here The market closed with the follow
tng street prices:-United states currency skies,
5oSk a 1854; do. siXes, 1881. registered us
l16; do. coupon, 1l0 a li916; five
rwenties, registered, May and November, 1924
n 1i21a; do, 1867 coupon, DO, III q Il4%; TO-,
1854, coupon, do, l12j4 ll2}z; do, 1856, coupon,
do ll21a 1l2A; do, registered, January anu July,
III 111h; do 1866. coupon, do, li5H ll5's
do 1867, coupon, do 1l55s 15M do, 1868, coupon,
do l15h 1854; do. ten-iortes, registered, 1o914
q 1875 do, coupon, 1o9n 1095s.
Gold was weak and sold as low as l2Jk, which is
Sithln small fraction OF the lowest point touched
this year. The precious metal has OF late the
characterize oil the commodities dealt at the Stock
Board and like them Its iB Btrinsc value In the
activity OF money. Its real value is concealed IN
she temporary speculative influences, which are ope
ratve upon all the market Gou ~ bought and car
ycd like railway shares and when the carrying rates
run up to such extrayagant figures as O sixteenth
per cent o day there ~ fail in price which Is dis
connected with the legitimate nlucnces affecting
gold. the range OF the market Is Shown in the
gabla