The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-04-24
FINANCE AND COMMERCE..
EVENING TELEGRAPH OFFICE,
hA.1a. A-~.l Of 1871

Monday. April 81. 1871.
The local money market shows no very mas
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 6M@7 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
against lenders.
The gold market is quiet and weak, owing to
the announcement of prepayment of the May
interest without rebate. The sales ranged be-
tween 1101a and 110%, closing at 1l0S.
Government bonds are quiet but strong, the
entire list, excepting the 1SSls showing an ad-
vance.
The stock market was again active and strong.
Sales of City 6s, new bonds, at 102, and Lehigh
gold loan at 911s
with sales at 552S@5544; Penusyl-
vania was steady, with sales at 66@66%;
sales. of Little schuylkill at 4519;- Oil
Creek and Allegheny at 519s @5l16; and North
ern Central at 43; Camden aud Amboy stock
was excited, and the price advanced from 1918
up to 1913, with sales at both figures; Lehigh
| Valley sold at 81
The balance of the stock list was quiet but
steady. Sales of Schuylkill Navigation pre-
ferred at 1814; Philadelphia Bank at 1861; 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 ~, 1S71.-Messrs Jay Cooke II Co., Phuadel-
| pha, Pa -Gentlemen:-The following subscriptions
were received from national banks this day.
Galesburg, ILL.,, Second National. S25,000
Total subscriptions to date, $50, 7i0ooo.
| JOHN F. BIGEGow, 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, ,OOO, 900 by the time the new bonds
are ready for delivery in May. Ths proposals
| of the Secretary of the Treasury win then be
changed to the following programme
First. Bonds to the amount of $500, 000, 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 annum.
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,
|
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 5000 600,
600 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 theil
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, $100, $500, $1,000, $4,000
and $4,000; and coupon bonds of each de
nomination except the last two. The interes
will be payable in the United States, at ths
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 or dues of the United States
| as well as from taxation In any form by or under
State, municipal, or local authority.
After maturity, the bonds last issued WIN %
first redeemed, by classes and numbers, as may
be designated by the Secretary of the Treasury
PHILADELPHIA AGENTS.
Barker Brothers g. Co.
| @. q I'll. BOrie.
G. Camblos a. Co.
E. w. Clark ~ Co.
jaw Cooke 81 Co.
De Haven q Brother.
Drexel & Co.
Elliott, Collins IL Co.
Emory, Benson 81 Co.
Henry L. Fell d Bro.
Cav, Bacon a. Co.
GleDdnning Davis 81 Co.
w. III. Newbold, Son 81 Aertsen.
w. Painter az Co.
Sailer d Stevenson.
ID. G. w Smith a. Co.
Townsend Wbelen & Co.
Exasne WILLIAM PAINTER Co., No. 36 3. Thlr
a,reet report the following Quotatiens:--U 3. 90
iesi ilex ali6 b3Oa Of 1852, 1t3X Xslls; DO. 1854
i1Bx9118X; 90. 1885. 11949ll3sS; DO, July 1854
| liQ%0112s(: DO, July 1851 112x91iaa<; do. July
| faeas 1laZ0Ils: 1O-(Os. 1O9A a1O91<: Gold. 11Ol