The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-11
Foreign Exchange Firmer---GOvern-
ments and Gold Steady.
WALL STREET,

WEDNESDAY, April 1O-6 +. Nj.
ON 'Change to-day wheat was dull ana heavy.
The cotton market was firm and little more active.
TIE TREASURY PURCHASE OF BONDS.
The offerings OF bonds at the Sub-TreasurV
amounted to So. 463, $50, at prices ranging from
109 80 to 11Q.42. The bids opened at noon and
the result teegraphed to Washington, but the
answer specilyiug the amount accepted was
not received until little after three O'Clock. 1t
Is supposed that the secretary OF the
Treasury. who had been strongly peutioned
to make an extra purchase in order to relieve the
money market went over to consult the President,
and discussed the subject with him. Hence the long
delay. The adherence OF MIR. Boutwell, to his origi-
nal programme Of buying only one million OF bonds
gave great deal OF dissatisfaction on the street, as
1t naturally would when 80 many parties are
anxious to see an easy money market come to the
relief OF their speculations. The interest taken In
MIR. Boutwell's policy was seldom so largely mani
tested as during to-day. Between the time OF
the opening OF the bids ana the reading OF the
awards the formed by the junction Of
Broad with Wall street and the steps and front OF
the Sub Treasury were almost black with men who
had come forth from the brokers' offices, tempted
by the balmy sunshine and their eagerDess to get
the first intelligence OF Mr.. Boutwells decision as
TO the awarj. The million bought was obtained at
loo. SO 1lo.11A.
MONEY STRINGENT BUT EASIER.
day, but the average rate was lower-tnot is. the
bulk OF business was at u per cent Thls
was the opening rate, and was steadily bid
until about two O'Clock, when as nigh rs
3-16 was paid. Next came rumor that
Mr. Boutwell, would accept an extra lot OF bonds,
his long delay in announcing his decision being re-
garded favorable TO extra purchase. and loans
were made at per cent. by TINS time accounts had
been pretty well made up, but enough borrowers
hah Mr. tvvp lacis n m q n
pretty active inquiry up to halfpasr three O'Clock,
when l-32 was paid again, with transactions re-
ported at as high as 10
Discounts are, OF course, entirely nominal ana
devoid oil reliable quotation.
Foreign exchange frner FOR sight sterling
which TACT Is taken 10 confirm the reports OF
tive money market in London and justify the proph.
ecies OF an advance tomorrow 10 the Bank or Eng
land rate OF discount. The market dull, how
ever, ana quotations only nominal the basis
OF 109k for prime bankers sixty day sterling and
HOY for sight bills. bid for round amounts i .
u below these rates would probably be accepted.
GOLD sTRoNG--1l04 A 1l03s.
The gold market was steady most OF tnc day at
l1ol4 q nos, the nrmer feeling IN exchange and
the expectation oil an advance IN the Bank " Eng
land rate OF discount being alter midday less infu-
entail in their effect the market, because OF the
Impression that an extra bond purchase ut the
SuD-Treasury to-day meant extra gold sale to.
morrow. But just after three O'CLOCK waen Mr.. Bout
wells decision was announced, gold advanced TO
llOs; but only few sales were recorded therea, the
price returning later in the afternoon to 1l0, the
closing quotation At $50 =. NJ. being Ito Ole 110as.
The SuD-1reasury disbursed $4,000 on account OF
redeemed fve-twente5. In the gold loan market
the rates ranged from 1-32 ior carrying to fat FOR
borrowing The operations oil the Gold Exchange
Bank we're as iolows:-
CUlu Soloi3,VvO
Gold balances Observation-Disclosures. l,4-0,950
D1lduCcS lsoJ-, lou
The RAILROAD BONDS.
more active business was done IN the railway
bonds at lrm. and in some instances better prices.
The Union Pacincs were all stronger, with sales OF
the land grants al 81. Central pacnc hrsts were 4
higher. Sixteen bonds, FIRST mortgage, OF New
Jersey Central were lo5. Erle seconds sold