The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-05-28
The Domestic Results Impeded by
Clique Interference.
: GOLD MAINTAINED UNCHANGED.
ltockS AsSailed and Weakened. Pacific Hail
Lowered TO 7g l-9.
A Combined Bear" Movement on the
Stock Exchange.
WALL STREET,

MONDAY, May 27-6P MI
On Change to-day the principal feature was the
{ nrmness In cotton, which advanced to the even
Csc. for low mddlings. Flour was heavy and lower,
and wheat was inclined to sympathize with 1t, but
remained moderately steady.
The cotton failures rumored last week were an ex-
aggeration, the trouble being confined to one firm,
who expect to be afoat In few days.
In Wall street and vicinity an active weakness in
She stock market was attended by
A BETTER DEMAND FOR MONEY,
with In the interval between two and three O'Clock,
little running to make up balances. The activity
was far from being anticipated early In the day,
when the renewals were generally on the former
scale Of per cent for loans stocks, and per
cent on governments, with an occasional stock loan
Ut per cent. After two O'Clock there was sharp
demand Mt per cent, and fair amount OF money
was loaned Mt per cent Tho activity had this
limit however. Borrowers wanted the money at
, per cent, and were quito unwilling to pay more
after the steady facilities which they enjoyed pre-
v0usly. The supply ut per cent betrayed the
abundance OF funds still accessible by the brokers
had they been unable to adjust their bank accounts
ut lower rate
Discounts were steady and quoted 8 per cent
for prime double names Of short dates
Foreign exchange was lrmer, without much doing
and toward the close one leading firm advanced the
rate for sixty day sterling to lo9a. The market is
quotable at l09H 1924 for prime sixty day. and
1l01s for sight bills.
THE TREATY RATIFICATION IN ENGLAND.
The adoption OF the resolution ratifying the Sup.
Elementary Treaty has produced marked eject
upon the London market SO far as American secut-
sies are concerned. Tho advance In our bonds to-
day has been u u per cent-the '67's rising from
0SA to "a and closing buoyant at the latter price,
which, If our memory serves Alright, Is the high
est point ever attained in the foreign market by
our fve-twenties. Fries wavered at first, from
local and inside reasons doubtless but rallied with
the general market for American investments.
GOLD FIRM-ll3h A ll3A.
As the impatient crowd burst into the Gold Room
ut the prescribed opening hour early pressure to
sell was perceptble as 0 consequence OF Saturday
nights dongs in the Senate and the dealings up to
noon were alternately at the two prices-llsh and
113S. The foreign bankers were the principal
sellers, but disposed Of only small amounts CON-
paratively speaking, and found ready takers. The
gold they offered was legltimatey theirs to the
tent that represented the proceeds OF bond sales
pn the other side to catch the difference be-
tween the New York and London markets,
and was limited In amount for the
reason that they soon found It impossible to
get any round amount Of bonds this side prof
liable figures In other words the gold market re-
fused to become the vehicle Of expressing the effect
abroad upon our national credit OF the adoption Of
she Supplemental Treaty, and remained firm, ad-
vancing eventually to 1884 when later In the day
the domestic quotations Of nve-twenties moved up
TO the parallel of the foreign market. The parties
controlling the gold premium seem satisfied to let
circumstances, like the treaty ratification increase
the short interest, which, II calculations cor
rect, Is by no means ncOnsiderable. The course Of
the market during the day Is shown In the table -