, 1870-05-17

! 1t is the custum IN London to quote United
States bonds, =" "e1-intcrest3" two weaks IN aa-
ducting the accrued interest (21s per cent? On
the le62s from the quotation On April l, it
shows that the 1862 bonds have declined near
1y 1 pc. cent IN the SIX EeckB, because three
tourths OF l per cent of interest has accrued
since April without ;5 any ine1esse q tie price
declined ~ per cent, besides hve-e,ghths Of
per cent OF interest accrued since April l,
which makes tho decline about 2 per cent. The
quotations foE1 18G7a are l par cent higher than
On April l., which il partly accounted for By
three-fourths Of l por cent Of Interest," accrued
nearly 2 per cent in our 10-aD per cent
bonds during the six weeks, while tho and
~ per cent funding schemes haye been agi-
tated, does not look very couoborativo Of Nj.
pnIia-banker-Bowles' assumption that he could
xEell twelve hundred millions OF United States
1 per cent bonds in Paris. Tharo arc so many
pther bonds bearing higher rate Of interest
than the 1040s that it must be apparent to
European as well as American bondholders
that the goreEnmant is not likely to avail itself
OF the ten-year option on the l0-50s, and will
be content with paying them At maturity;
havc nearly all the commendable festures that
are proposed for new bonds in the funding
schemes. The slight decline in the price at
the 5-20s Of 1862 is probably due to some e2-
tent to the fact TINT tho five-year option hnying
nnatured, they are likely to be the first Of tho
bo paased. The strength Of the 1865 is also
probably due to the dve-year option on tho1n
not maturing for two yearH yet, until which
time the government has no right to redeem
them, eren at pAr in gold. '
In local business and money Affairs tho weak
opens very much as last week closed. The
jobbers generally have had L good trade In
somo lines the volume OF business last week
exceeded anything that has oTer been expert
cnced before in Chicago, and il the spring
trade should SOON begin to fan of, our mer-
chants will hare nothing to complain OF. In
the grim markets the advance in prices, like
the advance IN the prices Of stocks, seems to
have come to pause from no particular 1ra-.
son, except that spectators feel that tho ad-
vance had to stop somewhere, aud they are
disposed to await developments.
So far as the price Of gold may influence
prices Of grain, stocks, and bonds, there haVe
been no developments yet to indicate what aIo
thc probabilities in regard to exports OF gold,
which usually revive ut this soason OF tho year
and mako higher price for it. Last year the
average price Of gold in April WAS 1S2, and, in
consequence OF reports, tho average price
during May, WAS 13s, and for the last
thus Tar il afay hsa been 1}4N. Whistler he
para1lelHm with Last year which has been OBJ
Served thus far viii DO continued depends up
on the exports Of gold,
Money continues abundant, and good paper
is in demand. both At the banks and in the
open market, and though the banks decline 10
discount my for less than 10 per cent, it is to
be had in somo instances at per cent in the
open market. The banks, however, are max
ing demand loans on government co1ate1als
1t and per cent.
Ihero WAS & sIght increase in the move
ment OF currency to the country Rt the close
Of last week, which Has continnsd by cousidar-
able shipments to-day. The most Of it has
Geen to tho corn districts in the central parts
of this State, indicating moro movement IN
that grain and in cattls. Some amounts also
are going to Iowa, where wheat is the pEinci-
pal grain, and there is q possibility that II the
prospects continue IS fair Is NOW for smother
good crop, farmers Will begin to market wheat
fhey have left On hand Of III kinds Of grain,
and that there msy be temporary revival Of
business in that line du1ing this month
Exchange continues scarce and firm at SOC
per =, 200 premium for salea between bAnka.
At the counter, bankers sell at lilo premium,
and buy at par, and take Buffalo grain bills 1T
4 off, and Oswego bills at H OF.
At the Stock Board, to-day, the following
sales we're made:
IS shnres Lamar Insurance Company.
The following bios for, and offers of, local
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