Abstract

Financial Review

The news by the Persia has had the effect of stiffening gold and exchange, as the Liverpool cotton market continues to exhibit weakness. Gold rose on the receipt of the news to 139. Exchange was in better demand for the Java. Sight sterling sold at 111, and a large business was done in francs. Sixty-day bills are not wanted, as the stringent money market in London would render it difficult to negotiate them. The Java and other steamers yesterday took out $3,191,400, and perhaps $3,000,000 will go on Saturday. The government is no longer a seller of gold, and it is said that some Congressional limit will be set to its operations in this field hereafter. The money market is relapsing into the condition of ease which prevailed before the recent gold sales. Six is becoming the rule for call loans.