National Republican. (Washington City (D.C.)) 1872-1888, 1875-08-12
9atiauaI gspmblieatl
FINANCE AND COMMERCE.
Honetary.

sWAsHINGroN, Wednesday Evening, Aug. IL.
In the District Of Columbia securities the Con-
gress-guaranteed 265 bonds furnish \ fuctuatfnx
feature that is truly refreshing In these times q
general sluggishness Of the stock markets. a
favorable move on the part Of the long heads
brings them to the 'front.' rank Of activity, strength
and true upwardness, but whom the attention Of
the knowing ones Is temporarily diverted from
them from any cause or consideration, the bears
and those harborfng preJudice against the Dis
trict immediately manipulate their points TO pro-
duce depressing effect, and they hold high car
nival until the shorts are covered at o proft,
when the market rsSerts 20 its normal buoyaney.
There can now be little objection to the bonds
on the score Of . low-psying security, with the
present advantageous prices ct which small
orders at least can be had, and the nominal rates
and stagnant state Of the loan market. The
bonds are now paying about per cent interest.
The natural conclusion Of those who wonder
that the market Ii not wildly active Is that there
IL . lack Of confidence on the part Of those whe
are seeking Investments as to the responsibility
Of the issuing party. What are the opinions Of
those who have disinterestedly studied the laws
creating the bondsf The Attorney General Of
the United States, the ComptrolIers Of the United
States Treasury and AL the able Judges and laH-
yers Of the country whose opinions have been de-
Hberately expressed on the subject, rsgardtho
Congress guaranteed s-o5,s not only guarsassed
Dub OI1klu1Soo buo Ou1LeQ SL8L63 anu issued
upon It's pledge Of faith for the payment Of inter-
est and principal; that it is In effect Government
bond In no manner whatever affected BY the
action Of . third party. Naming the bond ADS
trict Of Columbia Funding Loan " does not lessen
Its reliability as . Government security; but to
the contrary, the District Of Columbia being
owned and controlled BY the United States Of
America, the very name carries with it the credit
and responsibility Of the most noted nation on the
IA oF kha aarfh far Nfa nj AnF H.
pledged faith, and whose securities are sought By
sll peoples IS the safest disposition of surplus
wealth,
These bonds are drifting into the hands Of Ger
man bankers and in other directions, which indI-
cate that the market Will ere long be reduced to
. state Of marrow huetuation and easy exchange
similar 10 the old issues Of the United States.
The market In New York to-day was charse-
teriIed BY greater activity for the l66 bonds thaa
for some time past. The bonds were rapidly
msnds Of bidders own prices. sales at the board
Of $1,000 at s7I< The market will now become
stronger, as 70 usually the case when necessity's
The SsSs were strong in PhiladsIphia to-day,
where they are begin ming TO loom up into public
fS y sales q $3.50 q % yesterday S1 y,
nns their operations TO gathering In small lots 81
"bsrRansn II possible, and II not st the price de-
In seeing how strong they can hold at IS.
Msssrs. Sherman & Grant, No. las + street,
quote the iCllOwIpg buying and selling rates foE
IS, 'sl.......l211f9l22 1o-4o's.........IlTN@I1sK
b20's, '62... .Il6x 6llSL per cents. ..ll6l19llT
620s, a.. .1lolZ91l7 Our. 9e6's.... 90 q %
rs, new. ,iiS SiisIS Foreign exchanSe:
G2o's, ..l2olf8y21 Three days sight. ..lOo1<
62os, g.. ..l2O 81Zh Sixty.dsy bills......4sT3z
The gold market was strong to-day In conse-
quence Of the resumption Of shipments. To-day's
steamers took out $50 900 specie, Of which $780,,
900 were gold coin. The syndicate still fnd q
ready market for the new SIS In Europe.
New 1tk toHsy gola opened ~ ~ sold a.
loans rates have been 1, ~, 293 per cent. For
eign exchange dull but nrm at 4sT4+S7L for
sixty-day prime bankers sterling and 400 for de-
mand. Money easy at l, Il<6211 for call loans
and 465 per cent for prime commercial paper.
Government bonds higher with gold, closing
active.
The following closing rates were telegrspbed.
70 Messrs. H. ID. Cooke, jr. l. 90. from the New
York Stock Exchange: