The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-07-22
FINANCIAL AND CONNER GAL


WEDNESDAY, July 21-6 P. NJ.
| Dnlness continues to be not only the prevailing
but the only feature of the market In former years
! IL was usual for the wealthy dlers at watering
places to amuse themselves by specializing in stocks
in this cty the orders for purchases and sales used
| to form considerable part OF the business of the
telegraphs between this and Saratoga and the other
fashionable resorts. This year the oilers seem
| to be content with other forms of gambling. The
merchants do not appear to have recovered from the
shock of last March, though hardly any of them are
making five per cent on their capital, and quite a
number have large balances in bank lying idle, they
abstain, for the present, from dabbling in stocks.
The commission brokers might well, for the
business they have to do, be recreatng them
selves in the country and laying in stock
OF health and strength for the work they will
have TO do when change takes place in the COM
peXion Of the market. As compared with prices
current yesterday New York Central was lower
this morning; Erie, !; Hudson, 4; Harlem, 1;
Reading. 1; Panama, 1; Cleveland and Toledo l.
&c Gaena and Rock Island were both steady and
in good demand. Illinois Central was a shade
stronger, in consequence of the news from Europe
where, it is supposed, holders will soon get over
their panic. Pacific Mail improved J. Milwaukee
and Mississippi was 1 better the decline having
brought in buyers La Crosse sold down to per
cent; the land grant bonds are steady at a shade
below last quotations. There was very little done
In the bond market, Missouri, usual, being the
most active security. There appears to be a dispo-
siton TO sell them short, in anticipation of fresh
supply soon coming on the market. The board
closed on dull and stupid market.
At the second board but little business was done
but there was no change in prices. The most active
stocks were Rock Island and Milwaukee and Missis-
sipp which were actively dealt in at last quotations.
The market closed dull the latest quotations being
Missouris, $50; Central, SIS; Erie, l7E Hudson IS;
Harlem, lli Reading IS; Michigan Southern, 22l;
Panama, 1854; Galena, s9s Toledo, 35I Rock
Island, 76l; Pacific Mail, e0A.
1t is understood that effort is being made to
patch up the dispute between the Central and Erie
meeting is 10 take place tomorrow at Cleveland,
TO discuss the question more thoroughly. The house
10 which the most influential director of the Erie Is
partner continues 10 sell Central short; and il il not
therefore, surprising that would be announced that
the Erie direction despairs Of arriving at satisac
tory arrangement.
The outgoing steamer Africa took out today
ss6s ,2i6 in specie-less than was expected. Ex-
change rather fell of towards the close and was
offered (bankers) at 1885,
The exchanges at the Bank Clearing House to-day
SIS 3ss, 9l4 q, and the balances s95O,l30 81.
The Metropolitan currency certificates remain at
Sc 600.
The following was the business of the Sub Urea
sury TO day.
Trta receipts ....,............,.... 1892 bls 50
--of which rom customs. nj 900 90
TOTAL b1AO $50 50
The Boston Post OF yesterday thus notices the
money market Of that city,
Our bank rpecie has ssan reached riao moos OF dol
lara although View YORK funds continued 10 be aud
10 briss demand In money there Is particular coaoge
but IA obvious tia. the msrke. is les souDdauty sgp
pied than was aew seess ago Loans are yet made Al
i've cent but bear OF lower rses and suspcct
THAI most of The present business In state
x per cent The bank losns ru,niug very high and
In msni of The INSTITUTIONS are approaching the legal s
mum This fact alone will make moGey AID derer
10 osran ohsDels ubul tho SURPRISES Of bank dsp1s-
tors oso be obtained b. outside borrowers But
p-os.bie that the present he sustained through
the euurlp and speakers ccnscrvs've'y out ni1S
them dangerously bisb al tbs moment The loo rates
for obhse the bsnss 70 lend largely ~ temporary
socou uodanons % oepost Ia order n earn the dv
denos but ~ould be better for the community. sod
bsJe fer The banks smseves they would their
laDs some~ lat and hold ali futnre accommodations .,
any rate IN tpece. The wheel will urn sconer later.
ard should be remembered that any considerable cal.
for deposv, whether credit In COR, would he
tsbly followed by bank cortrscon whih would be the
cause OF great annoyance, II no. heavy disaster.
The Cincinnati GaSe,te OF Monday thus notices
blc mOuty anu tseuahkt HdIhct oi lnat CITY,
We have pottina 70 report with reference 10 toe
money market the week closed Saturday opened
Monday, ~ith an abundance Of curreucy and . very
lmsd demand Rates Of tor good paper ragged
rtm ~ per cert Ire demsDi FOR Eastern exchange
MODERATE with ~ the dealers than Fri.
day hut rates mani aimed While reraittN,ces are
comparatively small the creation OF draia from ship
m,Dts OF Irouce corresp9BdiDg'y light nft EAst
bslspces nos On the increase There have been
offerings OF Ne~ Orlesus ard the market s sti
of supplies Qu0'sops are hie better than ununn al.
New York and Boston = premium buying, 4 seliiog;
New Orleans u y discount buying, y Trerian
&c ling
The following dividends have been declared:-The
Home Insurance Company semiannua dividend
ofl2 per cent, payable on demand the Broadway 10
surance Company, a semi-snnua dividend of six per
cent, payable August 2. This company has cash
capital Of 100000 and surplus of sso,SOo
The following is the return, certified by G. IA.
briskie, Jr. Of the receipts Of the waiertown and
Rome Railroad for June and the five months pre-
vious:-
hscciJts jun. 1857 1855
PesserRsrs.... ...t.s......tl24l5 30 oil COS %
frePbt .ssts ss....s..s.. 1877 ~ q 300 30
suocfes. 1889 so 1881 80 |
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