The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-04-27
FINANCIAL and COMMERCIAL.
WALL STREET, |
WEDNESDAY, April Co.'S p. NJ.

WEDNESDAY. April 26--6 P. Nj
On change to-day wheat continued dun and
heavy. Cotton fell OF a trfc &c the close bat was
steady.
STOCK EXCHANGE GOSSIP.
The annual election for officers Of the Stock Elk.
change comes Off ON Monday, May s, and its ap-
proach has led TO considerable canyassing OF the
merits of the various candidates. One party favors
the retention Of. the greater portion OF
the present board Of officers and another
advocates the claims of Mr.. George w. Mclean to
the presidency. Stll another candidate for the
chair OF the Exchange Is Mr.. BostwicE. The ''Broad
street party" also speak OF Mr.. Rufus Hatch. The
indications point to the nomination OF an independ-
ent ticket In opposition 10 the one which, according
TO custom, is presented by the committee.
MONEY FOUR TO SIX PER CENT
Money was easy at six per cent stocks, with
large dealings at five per cent, when the borrower
and coaterals were entirely satisfactory On gov.
ernments the rates were four and five per cent
THE GOVERNMENT PURCHASE OF BONDS.
The Assistant Treasurer received proposals for
the sale to the government Of two millions Of five
twentes and was offered ss,23s5o worth, at prices
ranging, ex interest, from 11o.G3 10 1ll.26h. The
purchase was confined to two millions, and the
prices paid were 1908 1l0.79. The latter figure
was tribe more than the price of gou at the time
more than their par in gold. In the absence OF
special permission from Congress 1t is to be doubted
whether the Secretary OF the Treasury has the right
to pay more than par in gold, unless compelled to
do so, for the bonds which he buys for the Sinking
Fund. Rather than repeat t0-day's transac-
zion he ought to begin the cancellation OF
the 62's other issues which have passed the five
years within which they may not be redeemed, his
authority to do so being undoubted. since there
have oeen subscriptions enough to the new loan to
fulfil the letter OF the law, which provides that pre-
v1Ous to such redemption he must have been able
to borrow at lower rate or interest. The govern
ment list was shade lower after the Treasury pur
chases, on the disappointment OF the street at tie
limitation OF the acceptances to two millions ba:
closed steady. The Assistant Treasurer to-day paid
out $500, 900 gold account OF the May interest,
making total Of Sc, 100000.
THE NEW LOAN
The additional subscription to the new loan re-
ported 70 the Treasury Department to-day amounts
to 100000, making the total subscriptions and
versions TO date 500, 726.750.
GOLD wEAK-1107S A 110a,
The specie shipments proving less tnan anticipated
yesterday-the whole amount sent day being only
$3.50, 0OO-gold became weak ana fell OF from HOY
to l1os but underwent the decline without elictng
any activity OF moment.
STOCKS HIGHER AND STRONG.
The day at the STOCK Exchange was one OF gen.
eral and gradual improvement. The market was
strongly suggestive of the restoration OF bucing
which had ueen partially blown down by gale.
The operators were busy everywhere bringing order
confusion. raising prices here. strengthening
them there, and transforming the edihce
to Its recent appearance The only ma
tertais that seemed TO defy the masonry
OF the patient architects were the Northwestern
stocks, which betrayed q provoking tendency to
slide down whenever they sackened their support.
On the other hand Western Union aspired to be the
French ROOT OF the new building II not its Flagstaff
perching as 1t did for time at u sudden elevation
to 6l%. The next feature was sudden advance in
Hannibal and st. Joseph to 1O7, whence
1t went back to 101h on orders to sell
from Boston Further on in the day the
speculation strongly on Pacific Mail, which al
vanced to 40. The general market was one to two
per cent better, and at one time was hot far from
the best figures OF the season. The limitation Of the
Treasury purchases to two millions OF bonds pro.
duced little rregularty in prices toward the close.
HIGHEST AND LOWEST PRICES
The following table shows the highest and lowest