New-York tribune., 1870-10-05
SECOND BOARD, 12t ~, AND 2i O'CLOCK P.M
Sales Of STATE B0nds-RaIroad Bons-Bqat and Raroad-E
TUESDAY, Oct. t-P.y.


The Stock Exchange has been partially re-
leved OF its dullness by movements in few Of tie us
ceaneOus stocks but even these there but ltte
animation today and the market seems 10 he returning
It's former stagnaon II is very evident that the
clques adopt tactics, consent 70 have many
OF the railways shelved, far speculation at the
Stock Exchange is concerned II may be the policyf
the gentlemen who control these railways To hold t.,
for permanent investment; but shrewd people do nj
generally borrow money for such purposes; and 1t =
therefore, TO be inferred that the heavy pur
chases have been made 10 control lines anu
to insure the adoption OF intelligent measures ha'ngn
view the permanent prosperity Of the roads TIL 80
ing been accomplished IL is TO be presumed that IN ro
cess of tme to avoid having too many eggs in o.
basket the holders will wish to sell again II go VIII
be necessary break prices down TO points at which
outside purchasers will be tempted and then m0Ilei
could be made which would eventually result M Dotsl
prices than could now be obtained
Gold without any ostensble cause declined TO l3 10.
dav and now vibrates between that point and llH
The future of the gold market 1t thought viii DEPEND
very much upon the action OF Congress at lie next scs
sion The premium has been reduced 10 such an extent
by the course the Secretary OF the Treasury that
becomes comparatively easy for Congress to egsate
toward resumption Of specie payment, without fear
Of causing disturbance TO the business interests OF the
country We feel quite confident that any rcason1lle
measures having this end in view, would receive
hearty support from the people; and 1t Is To ue
hoped that the opportunity may hOt bc i'Ht'
Gen. Grants Administration has done so much
already 20 restore confidence in the public crcuit
that to add capstone TO the arch seems 70 be very
easy task. The world has never witnessed tAa.,ial
success the part Of the Government Of pcopo ap
parenty overwhelmed and overburdened with de-. and
taxation equal to that demonstrated by the last TO-
ment OF the Secretary OF the Treasury Within eighteen
months an amount OF s17s42O9 of the public debt Las
been paid and the country exhibits the exaoTdinary
spectacle OF paying debt without extension or renewal
rate which, continued for about % years, would c
eel the entire amount and leave the generation 10 come
free to enjoy light taxation and prosperity Under suh
circumstances to witness extension CI tie
credit of the United States the world any ent
desired; and may count also upon the support a. Ills
credit measures TO restore metallic basis tC tho
country whenever we may adopt them.
There Is feature 10 note i'm the money marx 90,
the supply Of funds being abundant to meet the CCaId
The more general rate on call Is per cent, though o
railway and miscellaneous collateral the rates arc
and G. large balances being offered TO the heading bond
houses at 4 per cent. The currency movement
though unimportant, generally results in favor az Ito
city banks, the demand for crop purposes being
remely Light, mainly the result Of the disHciua.ol Il
the grain-rasers of the West 70 market their cercls
though of late the movement has been more marked
the breadstufs market has improved The Western utr-
chants have been large purchasers I'm this m2r0t rrnci
pally of dry goods and their prompt rcm. aH..f l',
had a tendency TO neutralze the drain
The market for commercial paper I.s 'r.-
active, the brokers reporting a fair dcua.. .
The banks are also more disposed TO t.,
paper as their legal reserve becomes strtl.
Strictly frst-class GO days to months mdoIs,ll
held at 7d8t per cent, with few Transactions below
six months names receiving iat 1910, dcpcntmr r
grade.
The Government bond market was ratlerlea'y In 'no
especially at the opening and there was fractional de-
cline on yesterdays average prices under 'h' ''.r
range OF gold which counteroaauced the buoy r' .i
tho Iondon market where '625 sold mp O. ei, on ave
demand from scotch ahI English capitalists C.i. OILS
were also strong &c 92 tn prospective purch'sa o be
Government, however, wcic calculated 10 preserve
strong undertone to tie market and 10 aprafe., 30
ition was manifested TO sell in large amounts, AL $40
bonds Offering found ready takers a current prices
general market reacted at the late Boards, anI 3D.,
firm.
We give below the bids for ana iN' .-.'-' -'.
Government bonds at the dates named:
RJ. sale. r..
-ff l..-.