The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-05-18
FTNiyCllL md COMMERCIAL.


Il
WEDNESDAY. May l7-sP. MI
ON Change to-day wheat was fairly active ana
nrm- cotton was weak and traction lower but
a<slve ana IN demand Mt the decline.
so>rs rnRKE To roua PER CENT.
Tue tendency OF the money market was 10 lower
ngnrcs and three per cent became the general rate
- governments and tour per cent on stocks.
Transactions the former coatcrals were reported
- - low NJ Two per cent but they were exceptional
end hardly qaoiabie. II might also be more proper
20 quote the rate stocks -four 10 i've per cent, but
very little business was done at the latter figure.
The accumulation or money Al tins centre has sell
com been 80 rrvai The prospect Tor the summer
Dcnths promi-es q eiut Of currency win the
hanks.
Prime paper = IN request at 81 per cent discount.
Foreign exchange was duli and only steady at the
advance 10 nos Cor prime bankers sixty days ster-
Mng and IN for sight, The rate. iiok, would allow
81 tue export Of one dollar gold pieces.
rnE NEw LOAN.
Tue new ave per cent oonds made their appear.
aScc on TIE street to-day. the Assistant Treasurer
hsvlng distributed about 100 600 to the subscribers
nrst on the list market was made for them right
away. and the quoiation ILL.,. established. This
price, beng hair per cent bclos their par In gold IA
accounted for w Inc fact that sellers speculation
can always cover by converting the iower-prccd
hvetwentics INTO new bonds. with which 10 return
tho Ave per cents borrowed for delivery. In other
words, Mr.. Boutwell, viii enjoy the competition or
enc "bcars" In the future sales OF MS new bonds.
The additional subscriptions 10 the new loan re.
ported by the Treasury Department at the close Of
business to-day were SIS 800. making the total SUBJ
gcfiption and conversions 10 date ses,slo,500.
TIE CONVENIENT PURCHASE or BONDS.
The Assistant Treasurer received proposals for the
sale to the government OF two millions Of Gve-twen
ties, aud was rendered twenty lots. amounting IN an
90 ss,s7T,o5o. NJ prices ranging, ey.inierest nom
1.s7 Tor par GoIdl down to lii.2s The purchases
were made N MA llLse.
GOVERNMENTS STRONG.
The offerings at the Sub. Treasury being rather
lighter than usual, assisted the influence Of higher
gold and steady quotations iiom London IN render
ing the government list 1rrn Mt an advance CON-
mcnsurate with the advance gold The best prices
were maintained TO the close OF street business,
when quotations left on as follows:-unitcd States
currency SKIES 1l5i1 1l5s.: do. 1851, registered,
ll7A HES do. do, coupon, III li7's; 10. i've.
fwenties. registered. May and November. 1lIs q
1llss; do. 1862, coupon, do, ilik ma; do do,
1864, do. do, 1ll1. NIX; 90. do, 1886, do do,
1ll1s ll1ss do. do, registered January and July,
l13Ss 1875; do. do, 1855 coupon, do, Il34 q
1is2s; do do, 1867. 49, l!35s; 90 do, 1873, do.
d., 1134 ia; do. ten-fortes registered, l09,s
ao9's; do do, coupon, 1904 io3s..
GOLD sTRoS6-1ll4 IIl,S.
The export movement In gold showing no dimlau-
Sion. the steamer to-day having taken over S5oo,ooo
the course OF the gold market pursued It's upward
progress, but In the Same slow gradual manner
which has characterized it FOR the past week or ten
days. The Offering price yesterday was the bidding
price to-day-a progress which has been about the
average for the time specified cash gold IS in
active borrowing demand from brokers doing bust
ness Tor exporters OF wheat and cotton who are
selling against shipments 10 Liverpool, ana this
temporary legitimate "sHor." interest gives the
market the appearance OF being oversola. The
alterations on the only two figures OF the
day are shown in the tablet