The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-18
The Secretary Of the Treasury Buys
Two Millions Of Bonds.
WILL HE SELL TWO MILLIONS OF GOLD?
Answers To Be Sent to the Gold
Room Early This Morning.
THE PRICE OF GOLD AVERAGES Ill.
The Bulls" in Stocks and the Bears in Gold
Enthusiastic Over Report that the Gov
eminent Will Withdraw the Claims
for Indirect Damages.

WALL STREET,
WEDNESDAY, April l7--6 r. NJ.
On Change to-day wheat was more active and
firm. The cotton market was steady and quiet
MONEY EASIER
The money market was easier, and the rate on
call declined from per cent coin to per cent
currency, the quotation closing I per cent. The
lower rates prevailing toward three O'Clock were
due to the announcement that the Secretary OF the
Treasury had bought two millions of hve-twenties.
Commercial paper was quoted 7 10 per cent dis
count for prime double names.
Foreign exchange was steady and nOminally I'M
changed. The chief business was in sixty day ster
ling at 1884, the sight rate being quoted lloa 1I0h.
THE GOVERNMENT PURCHASE OF BONDS.
The bonds offered the government at the Sub
Treasury amounted to S2,74345o at 1lO.49 10.
The proposals were telegraphed to Washington,
whence orders were received to buy two millions,
which were obtained at 110.49 11O.79. About
100000 Of the accepted lots turned in for cash
this afternoon.
GOVERNMENTS STRONG.
The government list was steady and dull up to
the announcement Of the Treasury awards, after
which prices became firm and some of the old bonds
advanced a fraction. The issues which thus under
went improvement were In demand to fill lots sold
to the Treasury, certain parties having offered
money, with the purpose of placing themselves
between the Treasury and the money market, on
which they intend making another raid at early
day. In fulfment OF their plans, they will, it is
thought, bid for all the government gold to be sold
tomorrow in order to get control OF
1t and keep 1t out Of the banks. This
gold they will use as collateral to borrow
money upon, thus enabling them to lock up the gold
and the greenbacks too. The following were the
closing quotations United States currency skies,
1l51 115ys; do. skies, 1884, registered lis 115A
do do. do, coupon, 116 a 116n; do. 1ve-twenties,
registered, May and November, 1l04 11oh do
do. 1862, coupon, do 1l3a4 1137s; do. do, 1864
do do, 1134 113s; do do, 1865, do. do, 1l49s
114s; do. do, 1867, registered, January and July,
1885 113h; do. do, 1865, coupon, do, 1925 o
1127s; do. do, 1867, do do, 1884 1875; do. do,
1868, do do, ia Hay; do fves Of 1884, funded,
registered 1O915 1099i; do. do do, coupon, Ill
1l1h; do. ten-forties, registered 1OS7s 109h do.
do, coupon 1895 1924.
GOLD UNsETTLED--110sl A 111b.
The gold market was alternately weak and
strong but closed steady and dull At first it fell
OF from Ill to l10, but next advanced to I'LL on
the scarcity OF cash god but fell Off again to 1107
on sensational Washington despatch asserting that
the administration was about to back down on the
question Of claims for consequential damages, and
finally closed dull at Ill. The clique programme,
foreshadowed in the preceding remarks in connec-
ton with tO-day's business in government bonds,
was indicated in the slight squeeze" of cash gold
which borrowers had to pay for in making their de-
liveries this afternoon. The course Of the market
foo in tha tohIa