The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-04
FINANCIAL and COMMERCIAL.
Money Stringent but Irregu-
lar, Closing Easy.
The Rate con CALI Declines from
50 to 6 Per Cent.
A DULLER SPECULATION IN STOCKS.
Erie Strong, but the Others
Weak and Lower.
A FURRY and "Break" in Prices
Toward the Close.
BeariSh Aspect Of the Situation in
the Stock Market.
The Very Latest ''Point" About
&C. C. and L. c."
.BeariSh Aspect Of the Situation In
the Stock Market.
The Very Latest s'PoinE" About
&C. G. and 1. c."
Gold Steady and Dull-Governments
Higher and Strong.
Secretary Boutwell,, the New Loan and the
National Banks.


market was about steady.
MONEY STRINGENT.
The money market continued active ana strln.
gent fear OF extravaganza rates late IN the day
started borrowers out the first thing the morning
and the money corner OF the Stock Exchange was
crowded at unusually early hour. Lenders de.
manded = per cent from the start, and when some
borrowers greedlly paid this rate lenders held of.
and succeeded In getting the q per cent in add.
zion to per cent But as the day advanced
The supply began to be more than equal to the de.
mand and the rate slowly fell to 1-16, TO 1-32 and
interest, TO 1872 and finally to per cent. 1t is only
proper to state however, that nearly eVerybody was
"madc up' good while before three O'CLOCK aud
that the q per cent business represented the
6regs OF money which the lenders had been holding
back In expectation OF higher rates than were paid
IN the morning, and which they eventually let go
to q few duatory borrowers at the best bid made
them.
Very little is doing In paper and prime names are
quoted at a IL per cent discount
Foreign exchange dull and unchanged.
There is a fair amount OF "eooin bankers bills on
The market, resulting from the recent export Of
railroad securities TO England, Holland ana Ger
many, which may be bought y u below the ask
Ing rates OF the prime drawers.
GOLD sTEADY-10eH A 11oh.
The gold market was steady ana perhaps trine
nrmer, but Enthusiastically dull. Sales were made at
the three prices. 1924 ITO and 1lOi, but the last
mentioned little more than quotation. The
gold brokers quite depressed by the scaniiness
pf business, and are hardly paying expenses. The
last sale of seat in the Board made at the low
price Of $316, the nominal price OF the luxury OF
membership beng $4,000 when the applicant
must buy his way In. The Sub Treasury paid out
$500, 600 in redemption or the called nve-twenties.
In the gold loan market the rates ranged from Lac
Tor carrying to nat for borrowing. The operations
Of the Gold Exchange Bank were Is folows:-
God cleared. $40 59t 900
Golu DaianctS ioo2,5lI
Currency balalc Observation-Disclosures. 49,. 15i2, eSl
The closing price was l096 a no.
THE GOVERNMENT PURCHASE or BONDS.
The April programme OF the Treasury commenced
to-day with the purchase OF million OF hve-
twentles out OF offerings OF nearly two and o half
millions. the accepted lots were obtained az 1ce.59
R1o3.s7.
GOVERNMENTS STRONG.
The government list higher In many OF the
Issues, particularly the old e5s and strong the
better tone OF the market beng due 10 the frmer
feeling IN gold ana to the average easier rates Tor
money. Washington despatch says that Secretary
Boutwell, Is asking Congress to make the interest
Of coupons OF the new loan payable In Europe, and
TO compel the national banks to exchange their six
per cents Tor the four an !-a-half per cents
The excellence or the later part OF this recommend
alton will hardly counteibalaace the improperly OF
the former But neither the banks nor
fine people need give themselves any concern
about the matter, for Congress Is carrying water on
both shoulders anent the election, ana viii
neither offend the banking Interest nor rulle the
public. The following the closing prces:-
United States currency sixes, ll54 l15A; do.
likes, 1851, registered l14s4 1l5; do. DO.
coupon, 1853 q 1l5X; do, 1ye.tTeaties, regis
tered, May ana November, 1893 l0J5; do.
DO, 1867, coupon, DO, ll21s li2sl; do. TO-. 1854,
Go. d. 1925 ll215; do. 40. 1855, do, 1I51s
ll35s; Go. DO, 1857, registered. January and
July, l12& lI3; do. DO. loo, coupon, do, HIS
1ll% do. do, 1867, do. do, ll25s 49, &c. do,
1885, do, do. l13 1854; DC. lves lsol funded,
registered, 10 llo1S dc. do dc., coupon ITO
lo}s; DO. ien.iorties registered, 1924 los; DO.
co., coupon, 1oaA lc3}1.
SOUTHERN SECURITIES DuLL.
The southern list was very dali and IN the main
steady. Tue new south Carolina July bonds sold
back 10 $50, and We're about the My thing dealt
IN. The following were the prices at ha closc:-
Tennessee, ex coupon, tojs 4 e.; 40. new, oGls
d.; Virginia, ex coupon, 81 5s: do registered
stock. DID, So 90; 40. sixes, consolidated bonds
Be O So; 90. skies, deferred SCRIP 1917 TX;
Georgia skies, rs q -, 10. sevens, 81 a S9 North
carolina, ex coupon, 37is -; DO. mnlng. 1850,
20 81; do. do. 1888, % a %; do, new, Il a %;
do, SPECIAL tax, IA a u; Missouri slxes, o5s4 q oo
o.. Hannibal and ST. Joseph % 4 %; Louisiana
elAeS % u Us 10. cNcc hlhts, VI o., 90 40
lights, 10 a so; Alabama Ewes, s. a g. do. ol.nis
D. q 60; south Carolina skies, e. a 81; do, new,
january and July, 3 80; DO, TO-. April and
October, 90 81; Arkansas skies, funded "a u 50.
THE CITY BASK srOCgs.
Tho following were the bias .or the city bank
Sharcs:-New York, 1875; Manhattan, 1850; der.
chants, 100; Mschanics' 1875; America, 10; Pine.
nix 100; Tradesmen's 146; fulton, 1884, Merchants
Exchange, 90; Commerce, llSi Mercantile, 1875;
American Exchange, 10; Iank OF The Republic,
il5x; hanover, 1928; Irving, 1915 metropolitan,
1877; Peoples 14j East River, 10; Market 1875; Mas.
pau, 100; Shoe aud Leather $50; Continental 9i
Commonwealth, az; PARK, 16Si New York NATIONAL
Exchange, 81; Central National, 1o2; Fourth Ma
tonal ll21s; Ninth National, 100; Tenth National,
%; Oriental. 100; Cold Exchange, i05}ai Bankeis
Ana DroAers' Association, ol3s; German American,
Ice
THE RAILROAD PONDS.
sIhe following we're the BIDS fcr the railroad
boEds:-