The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-01-27
FINANCIAL and COMMERCIAL.
WALL STREET..

THURSDAY, Jan. 28--6 p. M.
The severe storm to-day checked operations in the
various departments OF business.
On Change wheat was dull and actual transac.
tiOns showed slight decline IN prices. inc cotton
market was strong on the report of an advance In
Liverpool, anu prices were fraction higher.
MONEY EASY.
The money market was without special feature
other than dimnuton In tho business, at seven per
cent, which rate was exceptional in new loans Tho
rates the usual collateras SIX per cent with
exceptions to some of the better GLASS of stock firms
at five per cent. On government securities the bust
ness was abont equally divided between FIVE aud six
per cent In commercial paper prime double names
OF short date were current oil seven per cent dis
count.
FOREIGN EXCHANGE FIRM
Tho Anticipated surrender Of Paris ana the OK
pected subsequent peace la Europe have rendered
tho foreign bankers cautious about drawing ex.
change, inasmuch as peace may occasion the recall
OF the large amount OF European capital that was
invested In this country since last summer. At the
close the leading drms asked 1927 for sixty day
sterling bills add llo,l for sight
GOLD sTEADy-11OX O 110A.
The newspaper .'extras' announcing the surren.
der Of Paris produced no effect upon the nuctua-
lions OF the gold market the slight changes In which
opened at 11Oss and settled down to lIo,l at which
1t was quiet during good portion Of the forenoon.
subsequently some animation was produced by tho
large amount of gold BID for at the government SALE
and u brief furry carried the price up TO 1l0A.
From this point 1t again went or to 110h but at the
close recovered TO 1i0&, which figure was bid the
remainder Of the afternoon. The news from France
directed attention to
THE LONDON QUOTATION.
which came better--vlz, 9ols for the avc-twenties
OF 1859, with corresponding Improvement In the
British funds The cable telegram appended tire
remark, 'markets Grm on the prospect OF peace
which sequence was hardly the original inference
In the Gold Room, OF cessation OF hostilities. The
Impression in that apartment favored q very active
money market In London as the first result of peace
In the financial situation and consequent decline
shares and stocks. 1t Is true. of course that thu
advance to-day In the London market was only
trlfIng, but the fact has certainly puzzled the phi
losophers who had settled the question In then
minds long ago, as to the eyentualitles OF peace.
THE GOVERNMENT SALE or GOLD.
The Assistant Treasurer, General Hillhouse, sold
million gold at the Sub Treasury, 10 the hlghes
bidders. The amount bid for was $780, 800, which
largo figure was due to two causes viz, the desire
to cover outstanding speculative contracts ut the
Gold Exchange, and to get specie in return for some
or tho national bank notes with which the banks
are glutted ana which are legal tender in payment
Of all sums due the government operation
allowing slight fraction Of profit, partlc ularly II
the gold were obtained below the market rate.
The competition proved too much for the success OF
the latter part OF the plan as the BIDS which ranged
from hoe to 1l067, were numerous enough in the
higher figures to allow the placing OF the whole mil
ion Mt l106i 11o.67-whtch was above the ayerag,
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