The New York herald., 1871-09-26
FINANCIAL and COMMERCIAL.
WALL STREET,

WALL STREET,
MONDAY. Sept. 25-6 +. M.
On 'Change to-day wheat was active and higher
On European orders. The cotton market was
STEADY, but not better.
MONEY ACTIVE.
The money market during the usual hours for
making engagements was steady at 8 Q per cent
on governments, and az per cent on stocks.
Toward three O'Clock number Of borrowers who
had deferred securing their money In anticl-
patton Of q fall in rates after the disburse-
ment Of the Treasury payments for the bonds
bought to-day appeared upon the street and
were compelled to pay as high as seven
gold for balances, the dealings being prolonged until
q quarter past three O'CLOCK II was reported that
commission" was paid in few instances The
activity was doubtless stimulated by parties inte'
rested in lower prices at the Stock Exchange, who
learned that there had been no disbursements by
the Sub-Treasury, the bonds bought not having
been sent in by the sellers. 1t is also reasonable
that the banks were curtailing their accommodation
and forced borrowers into other channels.
Prime commercial paper was inactive.
FOREIGN EXCHANGE LOWER.
The foreign exchanges were weak and lower,
rational reaction from the recent sudden advance
being helped by the competition Of good supply OF
commercial bills drawn against shipments OF cotton,
wheat and petroleum. The following shows the
range Of quotations at the close:-Sterling, sixty
days, commercial, 10s 10SA; good to prime bank.
ers', 1851 1osH; short sight, 100 109H; Paris,
sixty days. $50 526A; short sight, 5.23H 5221a;
Antwerp, $50 q s. rs; Switzerland, 6.28X 5.23Z;
Hamburg, 361z S5a@; Amsterdam, 4oN Al; Frank
fort, Al q Az; Bremen, TX 7SH; Prussian
thalers, 72 o Tx.
THE GOVERNMENT PURCHASE OF BONDS.
The Assistant Treasurer at noon opened pro-
posals to sell nve-twenties to the government and
fOuu nd m Z al
ranging from 1890 to 1870. The accepted three
millions cost 1890 q 1l3.30-o. an average Of
about 11S2O-or ~ below their par in gold. The
payments for the accepted bonds Will be made In
greenbacks.
GOVERNMENTS STEADY AND HIGHER.
The government list was strong and active, but
unsettled. The early boards developed sharp in
quiry for bonds, particularly the '67's, to cover
speculative sales and prices advanced about y per
cent The influence OF the Treasury purchase was
partially checked by reports Of feverish market in
London and the best prices were not maintained to
the close, but the reaction was not important. The
following were the final street prices:-United States
currency skies, 1l4A lax; do. do., 1881, regis.
tered, III 117h do do, coupon 1884 1181a; do.
hve-twenties registered May and November 1l5%
116X; do do, 1852, coupon, do, 115H 115I; do.
do, 1854 do. do; 115x 1157s; do. do, 1865 do,
do, 1863 115zs; do do, registered, January and
July 1!4A l14%; do. do, 1866, coupon, do, 1l4n
ll4X; do. do, 1867, DO. do, 1l% lax; do. do,
1s6S do. do, 114 us; do. tenfortes, registered,
l11A NIX; do do, coupon, l11Z ll2.
GOLD LOwER-115 114a.
The gold market was unsettled, but gradually
weakened and declined. The announcement OF an
advance TO five per cent in the discount rate Of the
Bank Of Belgium was taken TO mean active money
IN Europe generally and gold at the opening was
strong, and advanced to lis. But the influences
connected with the decline IN foreign exchange led
to reversal OF the movement. and sales were made
late In the day at low ia 49, The course Of
10 market q shown in The table,