The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-09-03
FINANCIAL and COMMERCIAL.
A Futile Effort to Make the Money
Market Active.
The Rate on Call Declines from a Per Cent
.' NsasPer Cent.
TIE FAIR QUOTATION A5PER CENT
The Monetary Situation at
Chicago.
The Reduction Of the National
Debt for August.
ADVANCE In GOVERNMENT BONDS
The Treasury Programme Of Gold
Sales for September.
GOLD FIRMER AND HIGHER.
A Listless and Lower Market at the
Stock Exchange.
The Reduction Of the National
Debt for August.
ADVANCE IN GOVERNMENT BONDS
The Treasury Programme Of Gold
Sales for September.
GOLD FIRMER AND HIGHER.
A Listless and Lower Market at the
Stock Exchange.
WALL STREET,

OtUCA EACudUScs
WALL STREET, |
MONDAY, Sept &c p. NJ
On 'Change to-day wheat and -four were strong
and higher, with fair activity. The cotton market
was better and firm, in sympathy with an advance
In Liverpool and higher range Of the gold pre-.
MUM.
THE NATIONAL DEBT.
The public debt statement shows handsome re.
duction for August, the amount Of reduction being
$40 1885, 635. The debt, less cash in the Treasury,
now stands at $2,177,32 ,o2o There is a sudden
increase In the currency balance to nearly
I'll 600. The coin in the Treasury ls $7391s,s17
against which there outstanding certificates for
$28 500. The full statement Is given in another
column.
THE TREASURY PROGRAMME FOR SEPTEMBER.
The Treasury programme for September as an.
nOunced from Washington and officially published
ut the SubTreasury in this city, contempates the
purchase OF a million of bonds on each Wednesday,
or four millions In all, and sale OF million of
gold on each Thursday four millions in all during
the month. This modification was not unexpected
although many believed there would be little varla-
fion from the Immediately previous schedule. Mr.
Boutwell, sold the importers plenty Of gold all Sum-
mer. Now that the exporters market is ct hand
his reduced gold sales will be quite timely.
MONEY UNSETTLED AND EASIER.
As II by concerted action among the larger
houses, there was general calling in Of loans THIS
forenoon, borrowers being allowed the alternative
Of renewal at per cent A good many borrowers,
warned by the experience of Saturday, readily &C
cepted these terms, and the early quotation for
money became 6per cent. During the middle
Of the day the rate fell or to per cent, and still
later to per cent. The "scare'' had led to 80
prompt and early making up of accounts that the
lenders, who appeared on the street about half.
past two O'Clock, had to take per cent and finally
money was offered at as low as 2 per cent. The
tair quotation for the day would doubtless have
been
AL PER CENT
had not the business been so concentrated at the
beginning and 30 relaxed at the close. The solu-
tion Of money lies with Chicago at least so far as
tho rate may be advanced to 7per cent. good
many shrewd observers are beginning to fancy
that we shall experience an unusually easy money
market this FALL the condition OF the banks to the
contrary Notwithstanding, and that anything be-
yOnd per cent will be an exceptional rate The
great decline in wheat not only lessons the amount
Of money required to move the crops, but is likely
20 distribute the movement over q longer period
OF the Fall and Winter by retarding sales and bust.
ness. The
CHICAGO MONEY MARKET
b thus reported Saturday evening by the Post Of
that city:-
The leading banks report the money market in
these columns from day TO day during the past two
weeks. The applications for loans are only moder-
ssss and as there has been no marked REDUCTION in
the usual rate Of 10 per cent There is, however,
the reason that the banks are expecting another
call from the Comptroller Of the Currency which may
made early in June last AS our banks naturally
want to make good showing, they are not over
on bonds Is aDa o asr
equally good cOllateras are easily made at o per
cont and even this rate we hear is not unfre-
Ing the past few days has caused some little In
qutry from that interest, but as the city deposits
been steadily accommodating Notwithstanding The
shipments Of currency to the interior are as yet
only moderate.
This condition OF things, 1t Will be remembered,
was 'clearly foreshadowed" in the HERALD as soon
% information reached US of the collapse of the
great corner" In the wheat market
PAPER AND EXCHANGE.
Prime paper was steady at previous quotations
viz, ~ 9per cent discount. Foreign exchange
was heavy, lower and inactive. The leading bank
ers reduced their rates to 1851 and 1908 for ster
hng but their bills were to be had readily at q
quarter per cent concession from these quotations
The Secretary of the Treasury has called in for
redemption another inStalrnent or $l550,000 OF the
three per cent certificates interest on which will
cease October 81, 1872. The numbers will be desig
mated In our advertising columns within day or
tw0.
GOVERNMENTS STRONG.
the higher range Of the gold premium, frmcr
market for our bonds In London and the large
reduction OF the national debt In August consplred
TO better feeling In the government list especially
m the money market relaxed so sensiby In tho
closing hours OF the day. Prices advanced quar-
ter per cent In most descriptions, the market clos
ing strong as follows limited States cur
rency skies, l12K 1924; do do, 1881,
registered 1141G 1142<; do. do. do coupon, 1IG2x
llosS; do. nve-twenties, registered, May and
november, HAY 1l4%; do. do, 1862 coupon, do,
ii@'i ll4sS; do. do 1864, do do, Hay 114X;
do do., 1865 do. do, 11a3S a Il4H; do. do, 1867
registered, January and July, 1l3I 1l3X; do. do,
1866, coupon, do, 1l3H a 113x; do. do, 1867, do
do, ia l14>s; do do, 1885, do DO, ia a 1I4sx;
do. tenfortles, registered los1 a 1909: do. do
coupon lex coupon) looH 1ooll; do. ives of1ssl.
rcgistered, l1l5s l12; do. do. do, coupon. 1ns.
Ala
TIE RAILROAD BONDS
The following were the bids for the railroad
bonds
New York Cen g., 1859 g Chic 4Nwistm.....s
s ss Ts1s Is Ssn s. sub g. Tss s ls 81 div
Kric rs 5tf m @ . ~ Toi W alb I'd m . 9sx