The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-26
FINANCIAL And COMMERCIAL.

WALL STREET. I
THURSDAY. Jan. 25-6 Y. M.
On Change to-day wheat was dull and heavy.
Cotton was weak, but without essential change In
prices
MONEY EASY.
The money market was easy with a per cent
as the quotation for cali loans among the stock
houses and per cent among the government
dealers.
Prime paper was rather more current at a per
cent discount
Foreign exchange was steady and moderately
active on the basis OF lOo for prime bankers sixty
day sterling and l09a< for sight bills.
THE GOVERNMENT SALE OF GOLD.
The Treasury programme for January concluded
to-day with the sale OF million OF gold for which
there were thrty-seven proposals. amounting to
s6,Ssoo0o, at 1Os4O 1Os.l3. The million was dis
posed of at l09.03 1913.
GOLD STEADY-109 A lO9k.
The gold market opened firm, and advanced from
100 TO 1921, but relapsed TO 100 under sales
by the same German firm who were buying
the day before at ana under 100. These
sales late In the day seemed induced by
Washington despatch saying that the Syndicate ad
turned over, and Mr.. Boutwell, had accepted thirty
five millions OF fve-twenties heretofore pledged by
them with him as collateral for an equivalent
amount OF certificates of deposit with which they
had pad for the new Ave per cents. originally issued
to them at the outset OF tine Syndicate operations.
This transaction will explain the long delay IN clos
ing out the re,un1ing or the $780, 600 900 under.
taken by the Syndicate. The latter were allowed to
suit their own pleasure and interests IN redeemIng
these certificates with gold or with fve-twenies
They have doubtless, succeeded in getting large
proportion OF the thrty-fve millions OF bonds at
discount from par In god all OF which discount Is
clear profit The general result OF the Syndicate
operations seems, therefore, an exchange OF
900 OF six per cents for an equal amount OF
five per cents. Yet Mr.. Boutwell, has redeemed not
less than $3oO0O0Oo OF the old scaled" '62s and
paid the coin out Of the Treasury. Viii some Pha.
delphia lawyer be charitable enough to undertake
an investigation OF the Syndicate and Treasury ope
rations OF the past six months and give the results
Of his labors to the publicS How have all these in
trcate, not TO say mysterious. transactions been
dovetaied together, so that the $3.50. 600 600 has
been refunded bond for bond and $50, OO0 600 paid
for called 62s, the latter without violation OF the
Public Credit act? The Schleswig. Hostein question
IS A B as compared with the invOution,
evolution, revolution and cOnvolution OF facts
and figures In the operations OF the great
European and American Syndicate It IS
turning to Mr.. B0utwell's elegantly printed,
ruled, schOolmasters statement of the public debt
after MS admission of only s97 OO0 900 five per cents
outstanding III December 1871. Before that New
Zealander shall come to sketch st. Pauls from the
ruins OF the Park Bank somebody may have sue.
ceeded In making 1t all clear; but neither the debt
statements OF Mr.. Boutwell,. the 'cards" OF Mr.. Jay
Cooke nor the admissions of the Secretary to the
Congressional Committee, Will have helped him
In his researches The course OF the market is
shOwn In the tablet