The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-03-05

TRtpAr, March s--P. M-Thc weakness Of the
god market was further reflected In the transactions
OF this morning, the price opening nj H. decline Of
cent as compared with last nghts closing sales.
There WIS early apparent strong pressure from gold
thrown upon the market aided ny the bear movements
OF certain stock cques, who thus hoped 10 demorahIe
the latter market and cause depression IN railway
shares. Under these influences gold dropped to ilsh
al midday. though quickly raying to ia In conse.
quence OF sharp covering OF the short Interest put
out earlier IN the day From this point the shorts
again commenced selling, until forcing the price down
TO hay, when the market exhibited strength aud
rallied cent, without however. eleins any spe'
cial excitement.
About 4. NJ. the stock cauos made another vigor.
ors attack. forcing tue price TO nav. aud creatni
large short interest the market declined. ThceN'
ctemeut ut this hour intense aud holders OF gold
purchased at higher figures commenced unloadipg'
thus greatly aiding the sharp tumble.
AtAP. NJ. the shorts agar commeuced covering, and
me price run ny TO III At So o'clock. Aftcr the
shorts had been severely handled the business q the
Gold Room reapsed into lie former quis although late
sales were made At liz
The gold loan market has been active, Illustrating the
changing condition ofhe Market balances carly IN the
day being carried at and cent. and later, fee OF
interest to either borrower lender; afer Clearing
House hours. loans were made az ami cent the
nnd beng and cent. The total clear uas Mt
the Gold Exchange Bank were ti'Gl3"o; gold bnsnc's
te,F6sO and currency balances. t2.js,sgj Tue prn.
elpal quotations werei
IA NS'H..,IiIiSS e y Ha....iiis ~ F. MMi
ISIS T.. ...l4 iSP M.........llJI q l.. M....iii
Foreign exchange dul and weak undef tae continued
beraisuppD ofbils At the close prime .Ny days bills
quoted at iOst@iCsH sisht bs OF the same grade
lO96iOlN. aud commercial sterling lO7S@ioS frAnc-
on PaT, long were quoted at Seos5.isA. ano 'hOrt
5I7ka5i6H.
The money market has been without noticeable
CHANGE the Supply being abundant to meet the demand
ats and cent. call t. borrowers on pledge Of ac
eeptsUlr collateral. with large number OF exceptions
" prominent Government dealers attP cent Some
thirty DAYS loans are reported At seven cent. with
sman commissions where the orerlsgl are ra.lway
stocks In discounts rates rather nfmer prime ac
ceptancos passing seven to eight per cent? ordinary
~ eight TO tinc and approved single name at seven 10
twelve There l. sight increase 10 the Supply OF good
mercantile paper NJ the spring trade opera.
Government bonds opened weak at decline Of
ccut Oh lOs TO ~ cent ON C2s and old Us under
sutden break gold. the str NJ tone n the Lon
den market failing to noutraIze the effect OF the buo
aucy the European markets. At these pre- tnerc
considerable buying. and at the final call. pfic
Improved about Z cent the gold prem nm becat
nrmer Prom this smother fractional decline wns
recorded. but later. under the rise 10 eoN OF SOS In
London, liberal purchases were made, under which
prices advanced assisci by the reaction In god to li
and tue market closed strong. The tansac, ions hsy,
cold. no cfpectal speculative Influences haVNL ON
trollcd the market The pusSib adoption OF FUND
INK nil by tue present Congress has - iet IroOrccl
effect on the marsw. Henry Clews q Co, 81 Wal
street, report nj = Il. NJ: