The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-08-23
Two Millions Awarded at liz
a ll4.O8.
A Low Currency Balance in the
Treasury.
Government Bonds Heavy and
Lower.
Stocks Dull and Steady-Eris Rises Three
and Falls Two Per Cent.
WALL STREET,
THURSDAY. August 22-6 P. M

On 'Change to-day wheat was inclined to dulness
and -four was heavy. The cotton market was
quiet. rr
MONEY FOUR TO SEVEN PER CENT.
The money market was active and the rate In
call advanced from to per cent. The banks
are contracting their loans to the stockholders
and shipping money to the Western banks. The
demand this afternoon was to some extent arti-
fetal, but there is little doubt that many brokers
disconnected with the "bear" clique In the stock
market were compelled to pay the highest rate to-
day, the inquiry being maintained to the close Of
sidewalk dealings, and per cent being paid up to
the last moment. corresponding firmness Is
noted in mercantile paper and prime names are
quoted OF per cent discount, with the bust
ness In the vicinity of per cent.
Foreign exchange was weak and rates declined
fully one-quarter per cent, closing nominally at
1857 for prime bankers sixty days sterling, and
1905 for sight bills.
HEAVY FAILURE IN LONDON.
It will be seen by our cable advces that well.
known mercantile firm in London, the Messrs.
Gledstanes & Co., have failed, with liabilities re-
ported at ten millions Of dollars. decline in con-
soils is attributed to the announcement on 'Change
and possibly the reaction and fall In Erie shares
due to the same cause.
GOLD 'orF"-l14% A I13&.
The gold market was weak on the discovery OF q
less extended "short interest and the price after
feverish uctuaton declined from 11416 10 1881. In
the gold loan market the rates ranged from per
for carrying to 3-64 for borrowing. The former
rate was made late in the day, and reflects the
more active demand for money. The closing sales
were at 113zS.
THE GOVERNMENT SALE OF GOLD.
The offer Of the government to sell two millions
Of gold was responded to by bids for a total OF
S. OOO at prices ranging from 11S to 114Os. The
two millions was awarded at ia o 114.0s. The Sub
Treasury paid out $153,OO0 on account Of interest
and $4,000 on account of redeemed 1vetwentes
The Treasury balances are reported as folOws:-
Currency, $5700,000; coin, 81, 900, 000 The out
standing coin certificates arc $50, 900. The
operations OF the Gold Exchange Bank were as fol.
lows:-Gold cleared, $64, COG, 900; gold balances,
s4,45s,o0o; currency balances, $5,os2,lOl. The
European steamer took out $4,000, silver.
GOVERNMENTS HEAVY.
The more active demand for money and the
weaker tendency OF the gold market late in the day
operated unfavorably on the government list, and
contributed to a further depression OF prices, al
though the changes were not important and barely
exceeded fraction OF q 4 per cent. The follow
ing were the final quotations:-United States cur
rency skies, 113 113k; do. do, 1881, registered
lis 1851; do. do, coupon, III a 117H; do. flve-
twentles, registered May and November, 1861 o
115H; do. do, 1862, coupon, do 115,4 11516; do.
do, 1894 do. do 1154a l15a; do. do. 1865 do. do,
1861 11e; do. do, 1867, registered, January and
July, 1141 114a<; do do, 1865 coupon d., 114X
114 do. do, 1867, do. do, 114s 49, do. do, 1861
do. do, 114h 1l47<; do. ten-forties. registered
1854 a 0oA do. d. coupon, 112k 112>s; do fves
Of 1881, registered, liz 1l21; do. do. do coupon,
LIZ 112k.
SOUTHERN SECURITIES HEAVY
The Southern list was quiet and dull, with,
strictly speaking, heavy tone and less frmness.
The Tennessees and new South Caroiinas were
trne lower and the others fairly steady. The fol.
lowing the latest prices Tennessee sixes DID,
73Xa "A; do. new, 73X a "a; Virginia skies, old,
4eH 81; DO, new 5oX bid; do, consols, 5o1z a
SIX; do, deferred certificates, Is bid; Georgia
sixes, 70 7s; do. sevens, 81 o co. North
Carolina skies, old, 33h 34h; do, new, 20 q %;
do, special tax, l6; South Carolina sixes old, so
So; do, new, January and July, 81 27>s; Missouri
skies, 9SH a 93X; do, Hannibal and St. Joseph
91s a o2h; Louisiana sixes new, "a: do, levee,
80 q 60.
THE RAILROAD BONDS.
The following were the bids for the railroad
hnnd