The New York herald., 1872-10-15
.s2as, 36l, 1857 1906, 500, 1877 $349, $50, 50,

since JAM $23S 361 257 1906 $50, 1877 $349 3s6
MONTY 7 A 2 PER CENT
The money market was easier and while the
extreme rates on call were again quite wide apart
ranging us they did, from down to 2 and closing
mt per cent, there was tendency to more stead
ness at intermediate figures. Thus there was very
little done at per cent, nearly ALI the loans of the
day having been made Mt u per cent on stocks
Ind at a per cent governments. The real
business OF the market was on this latter basis.
Toward the close OF banking hours there was the
usual pressure to lend the part OF those who had
money over, and the rate as noted above, declined
n0mentary to 2per cent, reacting eventually to
per cent.
LONDON MONEY MARKET
ls reported irmer and the street rate to be now
within < 4 per cent Of the bank rate Of per
cent. Our fve-twenties were shade lower for the
day, the CTS closing 02s. against 92ea Saur
day, but consOls were steady and Eries tribe
higher.
Foreign exchange was dun and quiet aud rates
nomnally as before But such business as tran
ypred was done on the basis OF l08si for prime
plxty-day sterling and 10k for sight sterling.
These rates and the steadness OF gold are leading
~ q generous supply OF commercial bills drawn
against exports.
Prime commercial paper is quoted a IL pcr cent
discount, with dealings al 10 a l. per cent.
GOVERNMENTS BuOYANT.
The government bond market was buoyant and
strong with an advance III prices ranging rom
quarter to three quarters per cent, the improve
ment being oil the more remarkable as gold de-
ciiaed about a quarter per celt The great
est advance was In the currency skies,
which are In active request for invest
ment. by corporations compelled by law to
Invest their funds In government securities.
They sold at 1885 as against 1922. at the open
Ing. The accrued interest upon them is nearly 2
per cent which brings their price down 10 about
lil4. As they have about twenty-five years to
run they are, in the estimation OF many. the
cheapest bond in the government list, especially as
they will have the advantages OF the prospective
resumption OF specie payments within the next
sew years. The advance in the prices Of the Ave.
twenties Is such as to preclude any Treasury pur-
rhase OF bonds on Wednesday, and render II prob.
pbe that Mr.. Boutwell, will make
ANOTHER CALL or BONDS
NJ an early day as the only means OF maintaining
the process OF reducing the national debt. The
Gve.twenties are now 50 scarce and the price of
them rigdly fixed at the minimum Of par in
gold that without panic or some severe distress
in the money market it VIII be impossible to buy
them at par in god for, maybe, the rest Of the pres
ent administration. To-day the '62's although sub
sect to such call for immediate redemption are
in demand at premium OF = per cent The fol-
lowing were the closing quotations United States
currency skies, ll3 1885,; do. do, 1851, regis
tered, lis a ll51t; do do, coupon, ll6ls
ll6si; do. fve-twenties. registered, May and No
yember, 112 q 112is: do. do, 1862, coupon, do,
1l5's 116; do. do, 1854, do. do, llo7s a
ZIG; do. do, 1865, do. do, ll6 49,; do.
do, 1887, registered, January AMI July, l14a. a
1l4s; do. do, 1865, coupon do, Ia. ll42.; do.
do 1867, do. do, l14ss l15 do. do 1855 do. do,
l4,. al141s do ten-forties, registered 1885, 1851;
do do, coupon, los4 losls do dves OF 1881, reg.
istered, ll0s4 ll1i4: do. dO coupon 1l05. alll..
GOLD LowER-1125s A 1l2b.
The gold market was heavy under mee sales
against the export OF domestic merchandise, the
outward movement OF which absorbs the ull sup.
ply OF ocean freight room, and under liberal ofer
ings this account the price yielded rom ll27s 10
7l.ls, closing at 1l2s., the speculative sentiment
being at the same time quite bearish, despite the
ruling OF the discount rate of the Bank OF England
The course of the market is shown in the tablet
10 A. M....:..... 1l27. L. 2M............... l12ls
10 o:o2 A. M........, 1l2A 12:4l +. M....... ll2a.
lo:O3 A. M.......... ll21s T. M............. ll2ss
y0;0I A. M.......... 1l2% 2P PM............. 1928.
- II ..E"