The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-19
PINiNIIiL And CONNlaglil..
WALL STREET.

NVNou WA Steaty anu bTulcr.
MONEY FIVE TO SEVEN PER CENT.
Money was easy, ana after dealings az seven per
cent the rate became alternately six and seven per
cent on stocks The government dealers borrowed
at six per cent as general thing, and were supplied
In SO ne cases at rs low as five per cent lille
the other hand as much as seven per cent was pad
by outside houses presenting government coateraIs.
The banks are threatened with their periodical
giut OF national bank notes. which, as deposits in
crease the Liabilities OF the banks without furnish
ing proportionate amount or reserve. Under these
circumstances the notes are bundled In large pack
ages and offered to borrowers tree OF interest for
several DAYS, on condition that their equivalent
shall be returned In greenbaCks.
The Assistant Treasurer gave notice that payment
for the bonds bought to-day would be made hst In
legal tenders and haif III national bank notes. A
similar distribution OF the two kinds Of currency
generally would not be undesirable. as the banks
could thus fortiiy their reserve sufficiently 10 allow
unlimited deposits.
Prime paper was IN fair request and quoted az
per cent discount.
Foreign exchange was duh and unchanged on the
basis OF lO9li for prime bankers slxtyday sterling
and i09ys for sxtydav bills
The Bank OF England made 10 change In ,he lis.
count rate ut their meeting this morning, ire mini
mum remaining per cent, money outside beng
quoted 21a per cent.
THE GOVERNMENT PURCHASE OF BONDS.
The Assistant Treasurer received proposals for
the sale TO the government OF sl.439, 450 OF Ave-
twentes at prices ranging from los.67 to 1000.
Why business men should offer bonds so far above
the limit OF the government, In the latter case Is
not readily comprehended, unless they seek the
fame OF having their names paraded on the mani
fold tissue paper bulletin at the ubTreasury. Gold
was taken TO be worth 1851 which limited the &C.
oant tn ar n
GOVERNMENTS STEADY.
The government list was quiet and very steady
for the various collaborating issues, but weak and
one-half per cent lower for the currency SKIES
which latter were pressed for sale, but on what
account was not clear The following were
the prices at the close OF dealings on the
street:--Unted States currency skies, 115is u
115A; do. skies, 1884, registered, 1l4H HAS: do
DO, coupon, 1853 1151a do fve-twentes, regis
tered, May and November, 1091s 1l01s; do. do,
1862, coupon. do, ITO 1l04 do. d. 1864, do. do,
11ol. l0sS; do. do, 1885, do. do, 1ll14 1ll2s;
do. do, 1861 registered, January and July, ll11 q
1114; do. do, 1866, coupon. do, 1l0A 1903; do.
do. 1867, do. do III l121.; do d. 1863 do. do,
1928. 1929; do tves OF 1881, funded, registered,
ex interest, 1888 1O9 do do. DO. coupon, 1093S
1lo do. ten.rorties. registered 1898. 109t; do.
do. coupon, ITO a 1lOi4
GOLD sTEADY-l0S1< A 100.
The gold market was intensely steady, as may be
inferred from the quotations, which were 1887 and
1919 throughout the day, wIth-after three O'clock
dealings at the intermediate fraction Of i616--a
refinement OF subdivision which allowed the execu-
ton of few orders, but with trlng profits to the
brokers concerned. The market opened at 100,
'.rapidly declined" 10 1887, and was 'Yever-
ish" the rest OF the day between the
"extremes" OF 1885 and lO9 closing finally
IOa cplIt md for E,,io
steamer took out about $4,000 in silver. The
Treasury paid out $500, 600 on account of January
interest and $685. 900 in redemption OF the called CO.'S
Tie Treasury already paid out about 500 000 900
on the latter account In the gold loan market
the rates ranged from to per cent for carrying.
rne operations oil the Gold Exchange Bank were
"a follOws:-
Gold cleared e24 200
GOld balances 1o0o,lO1
Nuich0J -,u'-t-io
SOUTHERN SECURITIES STRONG.
The Southern list was strong especially for the
South Carolinas, TennesseeS and Missouris The
South Carolina July Issues advanced to 30k, or lve
per cent, since yesterday morning The real char
acter Of the negotiations at present Oh foot between
parties In this city in Columbia is not clearly
understood, but 80 far as they point TO any repud-
alon, such as proposed in compromising OF the out
standing debt at fifty cents the dollar they are Wig
than fifty. The buyers at low figures do not object,
of course, to a measure which proposes to give
them so cents for what they have bought at 20 to 25
cents but the parties most interested are, after all.
the great maj GRITTY OF investors who purchased
South Carolinas year or two since when The state
was honOrably paying ITS interest. These parties
are quite willing the State should default IN the H.
terest for a season or two rather than they should
submit TO such wholesale Reputation oil the pIn-
cpal of the debt. The statement is modified that
the Governor OF Missouri has vetoed the Currency
Payment bill. Although lie has not had occasion to
take direct action yet, he has Indicated ms policy
in letter to the State Treasurer, ntlmang ms fixed
opposition 10 any other than the redemption
In coin OF the maturing indebtedness OF the State.
The following were the closing street prices OF the
Southern list:-Tennessee, OK coupon, GO coz
do, new, 66Is 664; Virginia, eX COUPON "a SO;
d. registered stock, old, As so; do skies, cOnso.
dated bonds, 511a So; do. SKIES deferred scrip,
Is 10; Georgia skies. 20 rs; do. sevens 75 So;
North Carolina, ex coupon, SO q "a; do. funding,
1866 "a %; do. do, 1865, 10 %; DO new, 10 IL
do, special tax, IL 49, Missouri SKIES OK 07s.:
d. Hannibal and ST. Joseph, 90 a 81; Louisiana
skies, SIS co; d. new, 80 30; do levee skies 60
a e5; do. do. eights, 10 so; do. do. eights 1876
75 IS; do. Penltentlary sevens, e5 20; do. rail-
road Fights, 20 a so; Alabama hves, GO a 65; do.
Fights, 81 SO; do. Fights Montgomery ana Euraula
Railroad. 81 O 90: South Carolina SKIES 81 a 60;
do, new, January ana July 500 81; do. DO,
April and october, 291s a 80: Arkansas SKIES.
funded, "a a IS.
THE RAILROAD BONDS.
The following were the bids for the railroad
bonds:-
New York Cen 6s 1888. 81 To- Wah equip BIDS. SIS,
New YORK Cen Us. 1867. VI To 4 gWa
New ork Cen SIS, g. Han Naries LIST
New York Cen IS, sub. 81 CT West 1st m. 1855.
New York Cen U.s. 1o76. JOE Gt West I'd M 1898. zee