The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-04-24
FINANOE AND COMMERCE..
EVENING TELEGRAPH OFFIoE,l
Mondav Anil Qi 1871

The local money market shows no very MAJ
terial change In any of its p rominent fea-
lures. The speculative demand from the
brokers is unusually lively, but there is no
vitality in the discount market, and very little
business paper offering or making. Call loans
continue easy at 5@6 per cent, according to
collaterals, and the best commercial paper sells
readily at 6$4@D7 per cent. at the banks and in
the open market. The banks are anxious to ex-
tend their lines in the direction in view of the
difficulty of placing their funds during the
heated term, but dull condition of trade is
The gold market is quiet and weak, owing to
the announcement of prepayment of the May
interest without rebate. The sales ranged be-
tween 11019 and 110S4, closing at 1l05S.
Government bonds are quiet but strong, the
entire list, excepting the ISIS, showing an ad-
vance.
The stock market was again active and strong.
Sales of City 6s, new bonds, at 1O2, and Lehigh
Reading. Railroad was quiet but steady,
with sales at 552s@5544; Pennsyl-
vania was steady, with sales at 66@66%;
Creek and Allegheny at 5l2s @5l11 and North
ern Central at 43; Camden aud Amboy stock
was excited, and the price advanced from 12l19
up to 1913, with sales at both figures Lehigh
The balance of the stock list was quiet but
steady. Sales of Schuylkill Navigation pre-
ferred at 18A; Philadelphia Bank at 1651S; Hes
tonville Passenger Railway at %; and Central
The progress of the new United States loan
is shown by the following communication from
the Treasury Department.
TREASURY DEPARTMENT, WASHINGTON, d. c.,
April 22, 1S71.-Messrs. jay Cooke II Co., Philadel-
phia, Pa..Gentlemen: The following subscriptions
Galesburg, Ill, Second National .......... .s25OOO
Total SUBSCRIPTIONS to date, $50, ,TIS,OOO.
JoHN F. B1GEIow, Chief of Loan Division.
NEW LOAN OF THE UNITED STATES.
The subscriptions to the new five per cent.
stock of the United States now amount to
reach $500, 100000 by the time the new bonds
are ready for delivery in May The proposals
of the Secretary of the Treasury viii then be
changed to the following programme
First. Bonds to the amount of $500, 600, 900,
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 annum.
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.
Subscriptions to the loan will have preference
| 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.
| coo 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
| denominations of $50 800, $500 $1,000, $5000
nomination except the last two. The interest
| will be payable In the United States at the
Office of the Treasurer, any assistant treasurer
or designated depositary of the Government,
| quarterly, on the 1st days of February May,
August, and November in each year.
The bonds of the several classes aforesaid, and
the interest thereon, are exempt from the pay
ment of all taxes CT dues of the United States
| as we'll as from taxation in any form by or under
State, municipal, or local authority.
After maturity, the bonds last issued VIII be
| first redeemed by classes and numbers, as may
be designated by the Secretary OF the treasury
PHILADELPHIA AGENTS.
Barker Brothers d Co.
| q. & I'll. Borie.
| g. Camblos q Co.
e. w. Clark ~ Co.
jay Cooke q Co.
De Haven a. Brother.
Drexel q Co.
Elliott Collins q Co.
Emory, Benson 81 Co.
Henry L. Fell IL Bro.
| Cav, Bacon & Co.
Glendinning. Davis 81 Co.
w. III. Newbold, Son q Aertsen.
w. Painter 81 Co.
Sailer q Stevenson.
ID. G. w. Smith q Co.
Townsend Whelen d Co.
MKssRs. WILLIAM PAIETKR d Co.. No. IS 3. ThiT,
street. report the following quotations ~. g. % o
ise a116Z b-2Os Of 1862, 1l3A9l18T; 90. 1864
ilex011RX; do 1896, z0u3X; DO, July, 1855
iisx9112x; DO, July, 1851, l12x@1ias<; DO. July
! Soaae 112a[MI1a. 1O-(0a 1OQl1 A1O03<. Gold. 11Ol