The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-18

Since Jan. 1926, 534,97e $12o 1854
THE GOVERNMENT PURCHASE OF BONDS.
The Assistant Treasurer received twenty-one Of
ferings OF bonds, amounting to S2755550, at prices
ranging from 1143o to 11479 The price Of gold at
the time was 114.82k The million accepted was
obtained at 114.39 11443X.
MONEY EASY.
The money market was easy, although some effort
was made to restore the rate on call tod per cent,
especially when 1t was discovered that the govern;
ment intended paying all national bank notes for
the bonds bought to-day. At the close, however,
the offerings were abundant again at per cent.
Prime commercial paper was quoted at q per
cent discount. Foreign exchange was about steady
on the basis OF 1OsX 1927 for prime sixty day
sterling and 11oA 10Y for sight bills.
GOVERNMENTS STRONG.
Government bonds were about quarter per cent
higher in currency values, but about quarter per
cent lower in gold. The London quotations seem to
be unfavorably affected by the same influences
which are noted as operating to advance gold
viz, the increasing activity Of the London money
market and the introduction OF the new French
loan. The following were the closing prices -
United States currency SKIES, 114% q lax;
Nv. oV., iooa, reofstered, 115K @ 116X; do. do,
coupon, 117X 1lS; do. nve-twenties, regis.
tered, May and November, 115x l1e: do.
do, 1862, coupon, do, 115X 11e; do. do, 1884,
U
1893 do. do. 1867, registered, January and July,
HAS 114X do. do, 1885, coupon do, lax a1l4X;
do. do, 1857 do. DO, 116,f 1l6k; do. DO, 1868,
do. do 1l6H 116K do, tenfortes registered, lily
mss do. do, coupon, 112X 113; do, ives 1881,
registered llsx llsX; do. do. do, coupon,
1883 11aX.
GOLD srRoNa-1l4X A 114X.
The gold market continued dull, but was strong
the price advancing to ll4X. The clique were at
one time fully credited with the purchases at the
highest point but subsequently the impression got
abroad that they had endeavored to make "a turn"
at that figure, while holding the market at 114x
bid. Later In the day che market was very dull
owing to a hesitation on both sides to do anything
IN view OF the conflicting theories of what may be
done tomorrow In the matter Of the
BANK OF ENGLAND
rate Of discount, to which reference was made by
the HERALD yesterday, In connection with the pro-
liability Of an advance therein. The topic was thus
discussed July o by the London Open Stock Ex-
change Circular
There has been decrease OF EAST, 225 In the bull
en e decrease a WEEK. an
the proportion OF reserve to liability Is forty
per cent Large Withdrawals have been made on
German account; and this, with the impending
French loan, helps to weigh down the market. The
directors made no alteration In the rate Of dis
II the drain should continue at the time the de.
mand becomes heavy to meet harvest requirements
THE SPECIE EXPORTS
by to-day's steamers were. as announced yester.
day, about $S50,0O0, further sum of about
s1,ss0,00 going out In transitu from Mexico or
South America. The engagements for tomorrow
foot up only s7500oo. The weeks exports OF specie
are therefore likely to be smaller than the gold
speculation calculated upon. The Sub-Treasury
discussed $4,000 on account of interest or
$4,000 on account of redeemed fve-twenttes. To-
morrow the government sells one million of gold.
GOLD FLUCTUATIONS.