The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-25
FINANCIAL and COMMERCIAL.
Money Relaxes, and the Rate on Call
Declines from 80 to A Per Cent.
Recovery and Advance in Prices at
the Stock Exchange.
Gold and Government Bonds Dull and Firm
Foreign Exchange Lower-Advance
in English Oonsols.
WAEL STREET,
THURSDAY, April 2A-6 p. NJ.

WALL STREET, |
THURSDAY April Pa p NJ
THE GOVERNMENT GOLD SALE.
There were twenty bids for the government gold,
the prices offered ranging from 1l7.Ol to 1l771L,
the total amount called for being $5,6loooo. The
award Of 81, 500 COO was made at l177lA l17.4S.
THE FOREIGN MARKET.
The only matter OF general interest In the cable
reports from London Is the continued en-altera-
ton Of the Bank OF England rate Of discount, which
remains at the minimum Of fper cent, nothing
having been done in the way Of change at the
weekly meeting Of the directors this noon, although
. loss Of 2i2s,Ooo was reported In the bullion &C
count OF
THE BANK OF ENGLAND.
N the open market money was quoted al 8 "a
per cent, which fact In connection with the action
OF the bank in not advancing the rate, accounts for
rise OF In consols Some Improvement TOOK
place In United States ten-forties, but IT was LOST
towards the close at the same time that decline
in the new hves was rcgained Erie snares were
weak, and ct one time nearly one per cent lower.
me new French loan was steady, but rentes in
Paris fell or to 60 81 In consequence d0uDtess, OF
loss trivial as 1t may be- of 100000 francs in the
Bank OF France during the week.
MONEY EASY.
The money market was easier, and the rate on
call declined to 6a per cent before the close OF
banking hours and money might have been had
subsequent to three O'Clock at as low as 2 per
cent. The market had the appearance OF having
been inundated with the currency so steadily flow
ing from the interior and having at length given
up the stubborn resistance to easy rates. pretty
much as Q conhagration succumbs TO the delugng
streams OF the fremen. Something OF the old
stringency was experienced quite early in the day,
when IS high as 116 and interest equivalent to 80
per cent per annum) was paid upon stock COL
iaterals, but this rate soon yielded to the lighter
commissions Of 1872 and 164, until money, as already
noted, was freely offered at per cent-s0me time
before three O'Clock. Commercial paper was quoted
81 u per cent discount for prime names.
FOREIGN EXCHANGE LOWER.
The foreign exchanges were heavy at the start
and the leading bankers lowered their rates for
sterling an eighth per cent. At the decline the
market became steady, and closed as fol-
lows:-Sterling, sixty days, commercial, 1914
. 108h; do, good to prime bankers, 1851
1851; do, short sight, 109A 109h; Paris, sixty
days. 6s2k a627h; do, short sight, $685. a5.22A;
h2ex; Switzerland, $50 5.25; Hamburg, OAK
. e5h Amsterdam, Ss,s q 4o,s; Frankfort, 4oK a
COX; Bremen, e4H a 95%.
GOLD FIRM-117X A 117T.
The gold market was firm put less active. The
quotation opened at 117x, but speedily receded to
NIX as consequence OF the favorable tenor Of
the advices from London With the publication OF
the heavy amount OF gold bid for at the Sub
Treasury an advance to 1171< ensued, and although
. subsequent decline to 117h was occasioned by
the rise in English c0nsols the market left off firm
Ut 117x, the continued reticence OF the Treasury
on the subject Of the prepayment of the May IN
terest encouraging the operators for q rise. The
course OF the market is shown in the tablet