The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-08-01
FINANCIAL and COMMERCIAL.
WALL STRRKr.

MONDAY. July 3l-6 r. NJ.
Money Is easier at seven per cent per annum, as
the average rate, on call. Exceptional loans for
paper occur occasionally at seven and half per
cent The private judgment OF the writer in respect
to such loans is that at the present seven per cent
is cheap for money on such accommodation.
There Is nothing new to note in the general
market.
Boutwell, has ordered the purchase Of S. oOO 900
United States bonds and the sale OF ST. gold.
This Will not increase his popularity at this time
and it were better that he held on his bond pur-
chascs for the present Prices Of governments are:-
United states currency sixes 114i Hay; do, 1884,
registered 116 118s; do. do, coupon, 118 l16js;
do. nve-twenties, registered, May ana November,
1l3s1 ia; do do. 1852, coupon, do, 114h HAS
do do, 1864 DO DO, 1881 1lSal do do. 1896. do
do, 1l37s a ia; DO DO, registered, January and
July. ll2H 1l3; do. do, 1856, coupon. do. 1921
1928; do. do, 1857, do DO. 1l2N . 11a do. do,
1858, do do, l1S lla4; do. ten-fortes registered
1928 1925; do. do, coupon, 1874 Il3h; Gen.
trail Pacific gold bonds. 9Ss5 a 0s5s.
THE STOCK MARKET
closed up nrm. contemporary says
At quarter past two Saturday VIC note an ener-
price to 49, with sales OF not more than two thou.
sand shares AT the intermediate points from 112ts.
Means mas Ss0sra o az
market. Its new enterprises arc certainly Important
enough to attract general attention. ana opinions
Will naturally differ on The point Of its being able TO
use to advantage in the business OF coal mining tho
large sums OF money which 1t has recently borrowed
ut seven per cent on Its bonds. We may therefore
consider Reading both an investment and spccula.
tive stock. and It would not surprise US to see 1t
once more favOrlte with operators.
GOLD BUSINESS SATURDAY.
Gold cleared. 1925, 3SS 600
Gold balances. 600,O5O
Currency balances ..................... 1,o41,2e6
THE TREASURY PROGRAMME FOR AUGUST.
The programme OF the Treasury for August is to
buy five millions or bonds and 10 sell seven millions
OF gOld the extra two millions OF gold being doubt
less offered in view OF the large amounts expected
In payment Of customs.
SOUTHERN SECURITIES DULL.
Tennessee, OK coupon, 72t: . 70; do new, 72ll o
49, Virginia ex coupon. 64tS 90; do. new, 72b
70; do registered stock, old, 81 65; Georgia
skies, 81 So; do. sevens, 90 o.; North Carolina.
ex coupon ~ q 42iS; do. funding. 1885, 81
"a; do. do. 1858, 80 49, do new, 20H
27;.do special tax, 10 q laH Missouri skies. e5
q 06H; do. Hannibal and st. Joseph, 95 95}a;
louisiana skies, 6S 60; do. new. 63As 65ls; do.
evec skies, 60 II; do do. Fights, "a SO; DO penl
Tertiary sevens. 10 %; DO railroad Fights, - SO:
Alabama lives, 81 70; do Fights. 90 100; do rail.
road eights 90 q 95; South Carolina skies, u 70;
do. new, January ana July, 55 $50; do do, April
and October. SO o 81; Arkansas skies, SO IS; do
sevens. 40 a e5; Mobile and Ohio Railroad sterling,
So 90; do interest eShts, 80 49, DO second mort
gage Fights, 60 a II: Mississippi Central Railroad
first mortgage sevens, SO SO; do. second mortgage
cights, II 80; New Orleans aud Jackson first mort
gage, IS 81; do. second mortgage, rs 50; Menu
phls aud Charleston Railroad first mortgage, 81 a
81; do. second mortgage, Is IS: Greenville and
Columbus Railroad, guaranteed by South Carolina
SIS q 81; Macon and Brunswick, guaranteed by GeOr
gia, ~ 70; Wilmington, Charlotte and Rutherford
d. D.,st.
Fights, ia IS; Memphis city SKIES. 81 so; Savan-
nah city sevcns. SIS 81; New Orleans consols. old.
70 rs: do. ISSUED Railroad skies, II a 70; 40.
sevens, 81 a Co.
GOLD 1l2 A 1l2,s
The GOLD market during the day has been ex-
tiemey quiet, with sales indIlerontly it might be
said, at H. 1925. The principal cause OF this
sagnation In respect to price, and halt as 1t may be
regarded, in what was looked upon as on upward
movement, was Boutwell, new policy so called,
with that strange inclination when the popular
mind has for misnomers umpOlicy, we would say,
whereby $1,000, 900 gold Is to be sold during next
month and $1,000 900 bonds purchased. The HER
AID has 80 often expressed Its dissatisfaction with
Mr.. Bortwcll's '.pocy," so-caled. from the begin
Ming that any further comment at the present
might properly be considered work OF supererO-
CATION 1t has more than once been demonstrated
TINT the venerable but not invulneralle Secretary
has made
A FATAL MISTAKE
I'm his management Of the national finances
lie has virtually blocked the wheels of specuia.
tive advancement IN most government bonds by
reducing them TO the level OF par and interposlng
veto to their selling beyond. This has been done
by the dissemination OF threat, purporting to come
from him. that II he could not get nve-tweniies at
par sufficiently to stimulate his new loan he would
call them In. by this he has placed limit TO
the price OF nve-twenties already due in the five
years option, which, by sympathy, Affects all other
issues.
BIDS FOR RAILWAY BONDS
are az follOws:--
New YORK SIS, lsss. go. Toll ( wab I'd m.. 81
New YORK 6's, 1857 30 To Wab equip bds.. SID
New York Cen SIS, - Han Narles LIST M IS
New York Cen IS sub. 20 Ct West Ist m, 1885, 90
New York re, 1876. l05 CT West I'd 1S3.... IS
Erie lst M ex...... .lvlis uai y Cnic "a M