The New York herald., 1870-04-29
FOREIGN EXCHANGE FIR,


FOREIGN EXCHANGE FIRM.
The foreign exchange market was firm on
the basis OF 1o9H for prime bankers
sixty day ana 10o1s for sight sterling bills
anu the leading houses were indisposed 10 draw
large amounts at these rates. The street
Is quite bare OF commercial bills despite the rise i'll
gold while the enhancement In inc home price OF
government securities prevents the shipments OF
bonds and the formation or "a supply OF bond bills.
Should the receipts OF cotton this week show fur
ther decrease and should holders retain their stocks
OF cotton for higher god the future exchange pro-
misses additional lrmness.
GovEeNagNrs STRONG AND ACTIVE.
The excitement In the government market sug-
Resed the days OF last year, wnen, under the revival
oil the European demand and with advancing gold
quotations, tue market novel up half to one per
cent o day. This rapid movement has been fully
equalled the present week at the government board
as comparison of prices viii readily SHOW The up
ward turn IN gold stimulated the movement to day,
and the 67's led the way TO 1135s. Here the market
encountered sales supposed to De foreign account
and reacted with the general reaction at the close Of
the day. The following the latest street prices:
United States currency skies, ll24 ll2s; do, 1881,
registered, 116H ll63l; do. DO, coupon, l16X
1l67S; do. hye-twentes. registered, May and No
vember, l1o}z 110'4; DO, 1862, coupon, do,
ll5H 11514; do do, 1864, do. do, llax
lax; do. do, 1866, dc. do. 114z l1i%; do.
do, 1885, coupon, January and July, 113 1l3X;
do. do, 1857. do. DO, 1l3& 1l3H DO. do. 1863.
do. do, 1134 l13H; do ten-forties, registered,
1071s los; do. no.. coupon, 10sH q l0sX.
AN EASY MONEY MARKET.
Tho supply OF money IN Wall street to borrowers
on call continues unusually abundant, despite the
absorption or q vast amount by the expansion OF
business aud the advance prices at the stock En-
change. Loans on stock c0llaterals were made as
low as four per cent, but the prevailing was
five. Borrowers government securities were
very freely accommodated at four to 1--we per cent.
Commercial paper was in demand under a diversion
to TINS Investment OF capital seeking higher rates Of
interest than those prevailing In the open money
market, and the various grades OF prime double
name a-ceptances current at six to seven ana
half per cent dscount.
STOCKS ACTIVE AND STRONG.
The stock market was again strongly active and
prices took further surge 10 higher quotations.
The 'bul.s were in ecstacies and have been jubi-
liant all day. The earliest buoyancy was ass stei by
advlces from Washington that the Ways an Ne aus
Committee had paused in wonder at the great reyul
sion In Wall street, consequent upon the antlcpa-
tel releclon OF tho Fuading bill, although the
formal Disagreement with the Senate ssure had
not as yet taken place. The popular objection to
the scheme seemcI TO impress them according TO
disregarding TIE interests of the public In any new
bill. Later III the day 1t was announced that the Bank
ing aud Currency Committee, also npre ssed with the
lesson taught by the Funding BILL woul not Introduce
any measure looking To u contraction OF the cur
rencya statement, by the way, which assisted tue
final rally gold referred 10 above. The stock mar.
ket was swmminslY buoyant at the last board, on
ths news, and prces touched the highest OF the day.
The temptation to realize too strong to over
come, and 4 great many OF the "buls'' sold their
stocks, creating o general downward movement
which was more marked in Ohio and Mississippi
than In the other shares. Here the market rallied ON
the second rise in gold to 1854 and the news OF the
anti-conraction policy OF tue Banking and Currency
Committee; but the "bulls" who had lot sold at
the previous high range of prices were now tempted
to sell, while the impatient "baars," remember
ing tie recent "drop," thought it good time to
put out line Of short sales, tile market closing
barely steady az the prices recorded la the table
latest street quotations.
TIE RAILWAY MORTGAGES.
The following were the bids for tho railway