The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-08-04
FINANCIAL and COMMERCIAL.
WALL STREET. I
THURSDAY. August SO p. NJ. !
GOLD 1121k.

GOLD 1925.
The gold market to-day has shown somewhat
weaker feeling than yesterday, although the owners
OF cash gold still continue to obtain large interest
for the use OF coin.
Gold did sell at 112H to-day, but this figure was
exceptional and both before and afterward liz bid
was regarded as a fair price. Upon the average
transactions we may say that gold was worth 1928
to-day.
The gold clearngs to-day were only $l0,60O,Oo0.
FOREIGN EXCHANGE
continues steady ut the advanced rates noted yester
day, which, however, are merely nominal. Thus.
although leading bankers ask ITO for sixty day bills
and HOY for sight, they are willing to sell both Of
these at very considerable discount
THE MONEY MARKET.
Currency Is still freely offered at two and three
per cent on call, and there Is nothing I'm the present
condition OF affairs to justify any apprehension OF
stringency during the fall months 1t is, however,
unsafe to conclude that because money is so
free now 1t should continue to be so. 1t
should be borne in mind that o large amount Of
foreign capital is and has been seeking employment
here for some months. We have got no guarantee
of the moment when that money may be called for.
The statement OF the Bank OF England shows q de-
crease of one million and half for the current
week. 1t Is an interesting question where that
money has gone to. Has the Continent awakened
to the speculative sentiment of the period; If not
has the condition Of the Bank Of France been such
as to oblge call on the Bank Of England' Each
OF these suggestions Is OF interest to loaners to-day
particularly whether that large surplus Of coin In
the Bank of England exceeding anything in It's pre-
vlous history has been again started into clrcu.
lation.
GOVERNMENTS ARE FIRMER
and the general disposition among capitalists Is that
they are still a good investment The statement in
the HERALD yesterday that Mr.. Boutwell, has no
authority either under the finance bonds or the Pub.
lie Credit bill to suspend the interest any Of the
fve-twenties has induced sitter disposition in
these bonds. Mr.. Boutwell's claim has been virtu-
ally, although not coming from him, that the five
years. option having expired he could call the bond
in for redemption at any time that suited his con-
venience. This Is disputed, and we think with good
grounds, the Public Credit act showing an evident
purpose in Congress that greenbacks should be at
par with gold before any conversion OF this nature
as attempted, could be forced
SOUTHERN sEcURrTvs
are mostly steady with very little to note In respect
to their action upon the market. As rule they are
neglected. but Tennessees are frmer and higher.
The July bonds OF South Carolina are also higher,
having recovered from the suspicion which the re-
cent new issue imposed upon them. Georgias are
strong, Notwithstanding various rumors about the
condition OF the State finances
STOCKS UP.
The stock market to-day exhibits in large de.
gree, the presence Of the same "bur' clique whose
interest 1t is to advance prices As record OF the
actual result they have put prices up but between
holders Of stock who willing to sell from one to
another 1t Is matter Of very slight moment what
prices they make, having determined on certain
figure. We have already mentioned the fact that
the cliques own the stock on Wall street. It Is TO
their interest to get rid Of what they have rapidly
as posslble but as O condition precedent to their
dong 50 they must make market. This they are
trying 10 do now.
The following table shows
THE EXTREME PRICES