The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-17

| The demand for cash gold was moderate and was
supplied at l32 ana per cent for carrying up to
Clearing House time and at to s per cent In the
afternoon. The half million dollars of gold sold at
the Sub-Treasury was awarded in the following
lots:-s5oo0O at 13645 $4,000 at 1850, $4,000 at
1865, $4,000 at 1858, 600 at $780, $50 at
1922, $50 900 at 1s625 $4,000 at 1922 at
1858, $50 900 at 1926. The steamer Rheln took
out 500, 422 in specie. At the Gold Exchange Bank
the gross clearances were S1,11s0 00 the gold bal
ances sl,747,62i and the currency balances $24s,-
s22.
The following were the bids for the city bank
stocks:-Manhattan 145; Merchants. 1913; Mechan-
les, 40; Union. $780, America, 143 Phoenix, 1927:
North River 80; Tradesmen's, $50; Fulton. 1907 Sew
enth Ward. 112; State OF New York, l11h; Com
merce, 126s4 Ocean, 81; American Exchange, III;
Chatham, $50; Bank OF the Republic, l1s; Bank of
North America, 100; Hanover, 100; Irving 112; Me-
tropotan, 14o People g, l4O; Market, 124; Nassau,
100; Shoe and Leather, l4o: Corn Exchange, 1872;
Continental, l0oA; Importers and Traders, 14O;
Central National, III; Fourth National, 105; Ninth
National, IFS; Orieatal, $50; Gold Exchange, 40;
Bankers and Brokers' Association, l03
The money market steady at seven per cent
currency until toward the close OF banking hours,
when the demand was more active and the rate ad-
vanced to seven per cent gold. The transactions
occurred only with such late borrowers as were da-
tory In making up their accounts, the offerings
during the day being very abundant at the legal
figure.
Foreign exchange was weak and lower. We
quote:-sterling, SIXTY days, commercial, 1071s;
good to prime bankers lo7X 1os; short sight,
81 a 1881; Paris, sixty days, 5.23% 6.22; short
sight, 52l11 $50; Antwerp, 527K 52s,1;
switzerland, 5.271S; Hamburg, s5II a5X; Am
sterdam, 40 4Ok; Frankfort, 40R a 40k;
Bremen, rs 7S14; Prusslan thalers, 7Ok 701S
Governments were heavy at the opening, in SYM
pathy with the general tone Of the market, and
hence were easily susceptible OF the decline precpi.
taed by sale OF nearly two millions OF bonds sup
posed to be on speculative account, by one of the
leading stock cliques. The foreign quotations came
dull and lower, but hardly weak enough to guarantee
the 'bear" movement above indicated Doubtless
the clique were acting with their usual holiness and
having OWNED that Secretary Boutwell, would not
increase hts purchases OF bonds or sales OF gold
went ''short Of the market. AS the buyers were
the strong government houses an interesting
struggle Is likely to ensue. The '67s sold down to
ll9. but the market though feverish was better at
the close. as folows-United States currency SKIES
1854 100; do. skies, 1884, registered 12l l2l1;
DO. do, coupon, 1873 12lX; do. fve-twentes reg
istered May and November, 1907 a 12I; do do.
coupon. 1852, do, 12l'1 100; DO do. coupon, 1854
DO, l2OA l2l; do do, coupon, 1865, 1907 1871
do do, registered, January and July, I1eh a l19H;
DO. do., coupon, 1866, do, 1l9A 1872; do. do,
coupon, 1861 do, 119h 119%; DO. do, coupon.
1865 do, 119]4 119T; do tenfortes. regis.
tered, 1907 ITO; do. DO, coupon, 1929 1891
In Southern securities the Tennessees were strong
particularly the new bonds The old North Caro-.
unas were lower and the special tax bonds weak
The general market was steady, but dun. Prices
closed AZ folows-Tennessees. ex coupon, 81
e11s do, new, "a 54l4; vrgnias, ex coupon, IS
5e do, new, 60 81; Georgia skies, so a "a; do
sevens, 30 a 90: North Carolinas, ex coupon 81 a
64Jz do, new, ~ Az; DO, special tax, Soh a 51
Louisiana skies, 20 II; do, levee skies, 60 6s1;
do, do. Fights 81 a IS; Alabama eights, 90 a o.;
do, nves, 6s a 63]s South Carolina sixes 70 ~;
do, new, 81 80; City Memphis Sizes - a4eh
The stock market underwent another sharp DE.
cline, the general list falling from one to six per
cent The ''break" came very suddenly, just after
the last board aud the sales for few moments were
very large. The short interest stepped in to cover
at this stage OF the descent and prices rallied until
late In the day, when they again went Oh and the
market closed heavy The more active stocks we're
New York Central, Lake Shore, Northwest, 81. Paul
and Pacific Mail These seanea to come IN for the
more direct attack OF the ''bears,n vino are prose-
cutting their campaign with the utmost vigor
1t Is now the second week OF the down.
ward course OF the market and the average
decline in prices for the active stocks is nearly
ten per cent On the theory that large fall must
have strong reaction there was good deal OF buy.
Ing which with the covering Of the shorts kept the
market from the panic into which It seemed likely
10 plunge at one time this afternoon. The specua.
i've operations for decline based upon the re.
duced earnings OF the Western railways, the North
west ROAD showing a decrease last week OF $4,000
as compared with the corresponding week of 1858.
This decrease is due 10 three causes viz
the low price Of breadstuns, the back ward.
ness OF the crops, and the cessation of
the business given these roads when the
Pacific Railroad required Its building suppliea But
the crops are greater than ever and In few weeks
at the most Will require transportation to market.
An improvement in receipts Ia therefore expected
before the month closes and hence retrograde