The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-08-27
l.. s19O, OO3, 744 $253, 447, 1913 $2ss, 972, 269
xrnNuv rruu Dur, CuNrr

Since JAM $780, OO3, 744 $685. 1893 $685. 269
MONEY FIVE PER CENT.
There was perceptibly 1rmer tone in the money
market, although the higher rates Of the day were
not maintained to the close. The earlier transac-
tions-at midday and in that vcinity-were pretty
evenly distributed at and per cent; but the Of
ferings became plentiful at per cent as the after
noon advanced and dealings occurred at per
cent, with per cent as the closing quotation.
1t was fairly quotabe as per cent money market.
In explanation Of
THE BETTER DEMAND
Chicago papers report that toward the close OF last
week there were continued heavy receipts OF grain
from the Interior but that on Friday the movement
began to show marked relaxation, with the wider
knowledge in the rural districts of the changed
quotations Of the market since the elimination Of
the wheat 'corncr.D There is less active inquiry
for commercial paper and 1t is difcult to discount
prime names at less than per cent, the market
being quoted widely at TX 0 per cent for ell that
comes Within what is strictly primo
FOREIGN EXCHANGE STRONG.
Foreign exchange retained the closing strength
of Saturday afternoon, and became even frmer in
tone for while when gold dropped to 1125s, some
of the leading bankers advancing their rates for
sterling to 109K and ITO. These rates represented
no business, however, for another prime firm were
at the same time Offering bills at 1O9H a 1O9I.
THESE latter were about the minimum; at least the
abatement from them was purely in the way Of q
brokerage or commission, which varied with the
extent Of the transaction and the liberaty Of the
drawer.
GOVERNMENTS LOWER.
The decline In government bonds continued and
was at one hour Of tho day quite marked-the period
Including the lowest stage Of the gold quotation
when the CTS sold at as low as 1881 The weak.
ness prevailed In gold quotations as well as In cur
rency, consequence chiefly Of heavier market
for United States securities In London to-day
Naturally the depression here was largely in
nuenced by the closer working OF the money mar
ket, as above narrated and q growing conviction
among temporary holders Of bonds that the future
COURSE OF MONEY
must be in the direction OF higher interest rate or
Gall, however slow the progress may be to the
maintenance Of more than a o per cent market.
The decline was not enough to tempuother buyers,
and the market closed dull at the Decline as follows
although gold underwent intermediately smart
reaction limited States currency skies, 112h
49, do. do. Sizes 1884, registered. 114 114H do d.
coupon, 118 116H; do. fve-twenties registered,
May and November, ia lax; do. do, 1862
coupon, do, ia 114K; do. do, 1854, do, do,
ia 0 lax; do. do, 1885, do, do 114x 1l4x; do.
d. 1867, registered, January and July, 113 113X;
no d., 1855, coupon, do, 1l3 1l3A; do. do, 1867,
d. do. 113x 11SX; do. DO, 1868, do, do, 11S1l
1854; do ten-forties registered 1881 q 100; do.
do, coupon, 1l1K o NIX; do fves Of 1881, re-
gistered, ll1X 112; do. do. do, coupon, 111h
LIZ.
SOUTHERN SECURITIES DULL.
There was very little doing In the market for the
Southern State bonds. South Oarolinas were weak
and lower, with decline In the new July issues to
Is. The Tenncssees were nrmer and quarter per
cent higher. Other changes were not OF moment.
The following were the closing quotations Ten.
uessee, ex coupon, "a 74kj do, new, IA O TAX;
Virginia, ex coupon as 80; do, registered stock
old, SO a; do. Sizes consolidated bonds, 81
ELK; do. skies, deferred scrip, 15k Q 10;
Georgia skies, 70 Is; do. sevens, IS 50.
North Carolina, ex coupon, SO "a; do, to North
Carolina railroads, IS Al; do, funding 1886, %
~, do. d. 1868, % o 2s; do, new, q %; do, spe-
cial tax IA Is; Missouri skies, 939 "a; do, Han
nibal and st. Joseph, ok %; Louisiana skies, so
b; do, new, ~ IS; do levee skies, 90 6S; do.
DO, eghts, 70 rs; do. do, Fights, 1875, 10 IS;
Alabama nves, IS q 60; do eights so IS; South
Carolina skies, 60 q So; ao new, January and July,
e5 2Ski DO. do, April and October, % "A; Ar
Kansas skies, funded. 45 a co.
THE RAILROAD BONDS.
The following were the bids for the railroad
bonds:-
Esw ysrt Cen osnSs g. I me- TOI Wsb % s2H
E5 8; : ~ r. e vs.: si !, s$s. sSo -
Ras T. p q SslH:s = 4 e ,ss issa
Mich So NIsEtp c,:I9 Chic, 4 Pacific :. loi