The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-11-10
THE NEW YORK MONEY MARKET.
The following extracts show the state of the New
York money market Yesterday

The following extracts show the state OF the New
York money market yesterday
From the ~ Y Herald.
"There was no Improvement to-day In the market
for mercantile paper and the suspension of the old
firm of Braingor Co. was not calculated to better
the condition OF affairs The note brokers reported
great deal more scrutiny of names a conse-
quence Of this event. the paper of the firm in ques-
ton having been ALWAYS regarded as frst-class At
tho lime the General distrnst was bai%btanad
by the announcement of the suspension of three
sm all firms in the dry goods and cloth trade and
OF larger capital in the oil trade We forbear giving
names until the facts are more fully authenticated.
There was report of suspension In the Stock Ex-
change, but probably grew out of the sales under
the rule in the Gold Board for the adjustment Of
suspensions occurring at the time of the gold
corner" the note brokers reported no business
range of prime paper was ten to fifteen per cent
discount. The worst feature of the present crisis
is the substitution OF monthly for annual rates,
which is beginning to be the custom. Thus single
names We're quoted to-day at ~ to 2 per cent
per month discount instead of at is to "a per cent
as formerly. This disposition to compute by the
shorter period is manifestation OF the desire to
employ funds at as brief time possible so per-
ceptble i'll the practice Of call loans they are de-
nominated, in the street, where the money is lent,
subject to return on demand after one days inter-
val The banks are not without funds, as their last
statement clearly shows, and the amount of capital
seeking satisfactory employment Is much larger than
usual at this season OF the year. Where coaterals
put up money is to be had without stint But the
fears Of money lenders have been aroused by the
depression in the produce business aud other
branches of trade. Hence their unwilllngness to
lives and thrves upon Itself. A less conservatives
policy on the part of capitalists would doubtless
bridge the dangers which many merchants find
themselves about to encounter AS it is the gradual
increase Of this timdity ana the tightening of the
purse strings will drive to the wall many who would
in the ordinary condition of things, successfully '
meet all their engagements
'The Money market was easy at four to six per
cent. on call. After two O'Clock large balances were
being freel offered at five per cent, and good (eal
OF money went over night unemployed.
"Foreign exchange was steady and firm on the
basis OF 10S7S@109 for prime bankers sixty day. and
109k@1075 foresight sterling bills.
"Gold was irregular between the extremes of 1868.
and 1875. The latter was the opening figure from
which the market was reluctant to recede, owing tC
continued fears as to the extent of the European
complications arising out of the apprehended death
OF Victor Emanuel AT this stage OF business the an
nouncement was made that the court had removed
the injunctions on the officers OF the Gold Board
which was soon after followed by sales for the &c
count OF suspended firms, the prices declining to th(
lower figure above quoted. Inasmuch as the amount
thus sold was miliion the decline might have beer
larger had not the sellers also have been the pnr
day the strength OF the market reflects the influence
of the 1rmer tone OF foreign exchange and of the
European news concerning the King of Italy. II
the gold loan market there was pressure to have
balances carried and despite the easy state OF the
money market the holders of gold paid from three
seven ptr cent for the accommodation.
1.-THE Government market was stroug and steady
IN sympathy with the irmer tone OF the gold quota
tons, and prices varied only an eighth to a quarter
per cent ON the whole days business The following
quotations were made at the close of street bu sness
last evening Limited States currency skies, 1919
@l0sS; do. skies, 1881, registered, llsg
1lSA do. do, coupon, lis91ls4 do. i've
ll94 do: do coupon, 1862 do, 115N@ll6%; do. do.
.coupon 1864, do, 113t@l183&; do. do coupon, 1865
IlSA@ll4; do. do, registered, January and July
do. do coupon, 1867, 116@1i616; do do, coupon
1868, do, 11526@l16; do. ten-fortes registered
ao' lo'|@lOI26; do, coupon, 10716@lOI%.