The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-06

Since JAM IT,. $39, 4772s3 $37,5s73A $44 200 975
THE GOVERNMENT PURCHASE OF BONDS
The proposals to sell ive-twenties to the govern
ment rendered a total of ss,o97,25o at prices
ranging from 1883 to Hale The accepted amount
was copfned to the one million advertised for,
which was obtained at prices ranging from 1883
to 1885. All the bonds offered. it will be per-
ceived at an average OF about Ia per cent below
their par in gold. c
war THE FOREIGN MARKRT.
The London quotations came buoyant for consols,
which were y higher. United States bonds were
trlne lower for the 67's but strong and higher for
che ten-forties. The new French loan was strong
and advanced to Z q IA per cent premium French
rentes in Paris were lower At $685. Erie shares in
London advanced to 625S-equivalent to about 65sS
In our currency.
The money market underwent gradual and,
what looked like, natural relaxation, Its ten
tency to ease having been quite marked Tor several
days past and having been interrupted only by
artificial influences. Early in the forenoon the
business was generally at 1-16, both for loans
and for renewals, and as high as 1882 was paid in
exceptional cases. But as the day advanced the
rate declined, until 1t had reached plain I per
cent some time before three O'Clock, subsequent to
which hour the quotation went as low nominally rs
Z per cent. Mercantile paper was quoted 10 q IL
weak early, but left OF rather nrmer at los 1857
for prime bankers sixty day sterling and 100
ao0h for sight bills. b..
THE WESTERN MONEY MARKETS.
The progress Of the relaxation In the Western
money markets, already adverted to In the
HERALD, is thus narrated by the Chicago Tribune
Of yesterday
= Notwithstanding the continued stringency in the
New York market, which would naturally be ex-
pected to affect Chicago to some extent, money
continues to work moderately easy in NEST parts
OF the West. The demand from grain dealers, to
settle their option purchases Tor March, large;
but as the funds only 60 out OF one bank into
other BY these settlements IL Is anticipated that,
viii worK easier Week. SVe spp Te Of nSs
IN the open market is evidently increasing, and
,aeney Is freely offered on collateras at 10 and II
ler cent, with tendency to lower rates. o..
GOLD FIRM--1l5 A 115x. Htll tiA
4, The gold market was nrm on heavy purchases in
connection with transactions in bills OH Europe,
the recent decline In the latter having brought in
I, large numbers of buyers. Early In the forenoon
she market was strong and advanced to 115A on
the further influence Of the report that Congress,
before adjeurning, had sanctioned the reissue Of
the $n,oo0,Ooo Of greenbacks, but the price
eventually receded to IFS, on Washington tele-
gram crediting Assistant Secretary Richardson
with saying, in explanation Of this report, "No
action has been taken relative to the S44, 900
bill. The matter remains precisely as it did be-
FORE the Secretary still claiming the right to issue
tne whole amount whenever necessary" The adj
vance In consols and in the French loan in London
to-day encouraged the expectations oil q further
reduction Of the ...r....
BANK OF ENGLAND RATE
OF discount at the meeting OF the directors tomor
rev, but without weakening the market which
left OF nrm at lis. The principal fluctuations are
shown in the table,