The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-04-14
FINANCIAL AND COMMERCIAL


"WEDNESDAY, April 13-P. M-Go,d still continues
to symPathize with tho couro OF foreign exchange.
At tho opening the market heavy. declining from
ii2h to il24, undar The reduction OF prime sixty days
b TO osH R well TO the largely Increased sales on
speculative account as reelected by tho carrying rates
which fell OF from cent. at the opening to cent
at midday, balances aitor Clearing House being carried
free OF both borrower and lender At iie
there some attempts maze TO cover which quiceIy
carried The price up to ii22, between which and li2
the price ranged up to the close, momcntarIy touching
HAS about L NJ. the price finally leaving OF sron..
At il2k at the formal adjournment OF tho Board Later
dealings however were at 1!kgil2N, With nnal sale-
at llat. The total earrings ut tho Gold Exchange
Dank were tN,A,o)o' gold balances. s!l9S 81, aud
curroacy balances s!,5!l,si7 The Idaho sailed to-day
without specie. The lrincipal quotations were;
~ M'V.........,"",llilsSiii, T. M.".".".."..ii,2N
II A. h.,u,,,...,,.,.il}AI sOP. M.........,,,.,,Il
Foreign exchange has been duh and lower leading
drawers having rcduccd their rates, prime second.
hana Ls selling at 1854, less iiG cont concessions
The market however closed nrn at ,ac lower range,
pr ne sixty days hills bong quoted at lsE, snJ at
lo)N, ann commercial sterling nj icsAgiosT,
1hc money market has peeR faIiy active III t1ugh1ut
the day at to- cent, the call loans Ror
rowe on piime collateral exp. rieueed dGicuy IN
fupnlying their requirements at the lower ngure
though At the banks nothing done below the legal
rate. Loans previously made TO Government bord
dealers at cent were allowed 10 stand over, though
no new transactions were made al those ratcs, The
currency movement Is light aud In favor Of tho city
banks but Is hardly probaOls that currcncy will be
RENTED here amer the opening OF navigation. No
strtngency in money, however, IL anticipated Dis
counts rule easy at and cent strictly ls..class
acceptances.
There appears 10 be some msspprohenson existing
relative 10 the Legal Tender act, awaiting hear
ng before the United States Supreme Court, nom the
fact that Il s tie general supposiion that the
cided some time since ia 20 be raOpened, The Court
has no power TO reopea the upoa which decision
has been rendered The late decision to the eject
that this act not operative beyond its passage and
that debts contracted cyious TO ~ passage pay.
able IN the legal tender at the time OF the making Of
such cont act which In coin II Is not the inton.
ton OF the Government to the decision and the
pending 10 decide whe her the act pas
by Congress legal II resumablc that the action
OF Congress viii be sustained thus making ereonaacSs
legal tender for ali contracts made since the passage OF
| said act.
AT the Treasury purchase to-day Of one million bonds
for the sin ing mud, OF were nlcd to The amount
OF Se5l9 200, ranging from 1917 TO i0s The bond mar
ket has EympathEed win the courso Of gold. At IL,
opening. prices etetdy, though a shade lower.
1he small offerings ut the TIcasury purchase and Their
close range upon the open market prices, impaired
| strength to the marRct ard Irccs advanced at the
later call closing rm The foreign bankers have been
fee purchasers OF tIKtywoS At INA, and Of Old sixty
AYES at ll0X@lilE
| Henry Clews a CO., 90 Wall st, report at5P. NJ;
| L. g. Cur Gs...SllY lux go NS conn IlUls nv