The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-04-19
FINANOE AND COMMERCE..
EVENING TELEGRAPH OFFIcE,l
Wednesday, April l9, 1871.

wednesday, April l9, lS7l J
There is no material change in local financial
affairs calling for any extended comments The
supply of funds both at the banks land outside
is considerably in excess of the demand at the
present time, and some difficulty is experienced
by lenders in finding Investment for all the
available funds at their disposal. Rates con-
tnue to be easy and in favor of borrowers. We
quote on call at soc per cent and on prime dis
counts at 7@713 per cent.
Gold is dull but stronger, the market opening
with sales at 11111. The price at noon is quoted
at 111A.
Government bonds are in demand and strong
at fractional advance on last nights figures.
Stocks were active but prices were barely so
strong Sales of City 6s, new, at 1919.
Reading sold freely at 549ssC95415, the latter
b. O.. PENNSYLVANIA was strong, selling at 65I
@65Ss: Minehill sold at 5316; Lehigh Valley at
6l@611 3Camden and Amboy at 1887; Oil Creek
and Allegheny at 501a. Philadelphia and Erie
was weak, with sales at 5S@2S%. Northern
Central was quite strong and sold at 42Ss, an
advance of "a.
Canal stocks were quiet. Sales of Schuylkin
preferred at 1888 and Lehigh at 359S.
The balance of the list was dull. Sales of
Thirteenth and Fifteenth Streets Railroad at
25X.
The progress of the new United States loan
is shown by the following communication from
the Treasury Department.
TREASURY DEPARTMENT, WASHINGTON. d. c.,
pha, PaPGentIemen h following @ snbscrlption
was received from national banks this day.
Lewistown, Pa, Mlnlinsco., National. $sS,OOO
Total subscriptions s............... 800, ,O5g, ,45O
Very respectfully,
NEW LOAN OF THE UNITED STATES.
The subscriptions to the new five per cent.
stock of the United States now amount to
$56,000, 600. They are confidently expected to
reach $500, OOO, 900 by the time the new bonds
are ready for delivery in May. The proposals
of the Secretary of the Treasury win then be
changed to the following programme
First. Bonds to the amount of $500, 00O, 600,
payable in coin, at the pleasure OF the United
States, after ten years from the date of their
issue, and bearing interest, payable quarterly in
coin, at the rate of five per cent. per annHm.
Second. Bonds to the amount of three hun
dred millions of dollars, payable in coin, at the
pleasure of the United States, after fifteen years
from the date of their issue, and bearing inte-
rest payable quarterly in coin, at the rate of
four and half per cent. per annum.
Third. Bonds to the amount of seven hundred
millions of dollars, payable In coin at the plea
sure of the United States, after thirty years from
the date of their issue, and bearing interest, pay
able quarterly in coin, at the rate of four per
cent per annum.
after the aforementioned two hundred millions
are taken up, In the following order, namely
First. Subscriptions for equal amounts of each
class of bonds.
Second. Subscriptions for equal amounts of
bonds bearing interest at the rate OF four and a
half per cent and of bonds bearing interest at
the rate of five per cent
Third. Subscriptions for any five per cent.
bonds that may not be subscribed for in the pre-
ceding classes.
Subscriptions to the remainder of the 300 900, :
900 of five per cents, which are unconditional,
are now going on, and the bonds will soon be
issued to subscribers, who can receive a scrip
certificate in advance If they desire to pay their
gold or exchange their United States five-
twenties at once, in the registered coupon
form. Registered bonds will be issued OF the
| danon,inafions af 45O A1OO A5OO S1OOO 45OO0
and $4,000; and coupon bonds of each de-
nomination except the last two. The interest
viii be payable In the United States, at the
Office of the Treasurer, any assistant treasurer,