The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-06-24
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June IL. l4os3s, Io2 u4Ioao si84S lsS lzooc4sz-
Increase. sass6,aa - s4'sel i'0al.041
The banks, it seems, are not supplying any con-
siderable portion Of the coin which is going abroad;
their reserve has shown no material variation for
some days past. Meanwhile their deposits are
steadily increasing, and they seem to be enabled
to increase their loans. The leading bank mana
gers regard the gold speculation in Wall street as
q temporary breeze, which will subsids before
many days eiapse.
Money is without change. Call loans are worth
"A per cent, and first class mercantile paper
about the same. Green backs are selling ~ 1885,
without much activity.
The price Of gold advanced to-day to LOT, and
bankers bills on England to lis a. The con-
signees Of the gold which arrived yesterday per
North Star are holding it back The gold market
is In fact "cornered." Gold Is wanted by the
bears who sold it short at 1903 . lO4, and are now
called upon for delivery and likewise OF the
foreign bankers, who are renting the proceeds
of American stocks. The wants OF these parties
are for the moment in excess OF the supply from
the Do lio and the price rises accordingly. This
condition Of affairs is not likely to last long.
Gold being almost entirely withdrawn from circu-
lation, ell that there il of It will, 1T present
prices come into Wall street for sale, and sooner
or later the supply must prove largely in excess
Of the demand, and the premium, must decline.
Holders are not only losing en- eighth Of one per
cent week in interest, but they are running con-
siderable risk of sudden turn in the market some
Hne morning. Prudent men will lose no time in
selling their gold at once, and realizing the profit
secured to them by the present premium.
A x1a
Stock Exchange this morning. Prices were some
what lower. The prevailing suspense checks
speculative operations for the rise. Parties who
require to turn their stocks into money arc COM
PEELED to make concessions, and the operators for
the fall are encouraged to put out their options.
Central fell per cent to-day, and the leading
Western shares about Il z. State stocks and
governments were inactive. We notice sale of In
diana loan at 9s. 1t is difficult to characterize
in fitting terms the folly of parties who willing
to purchase at such price the securities Of
State which has just committed an act Of repudia-
ton more disgrac efu if possible, than the conduct
OF the New Haven Railway Company in regard to
the Schuyler stock. The State of Indiana now re-
fuses to acknowledge the validity of bonds which
were not only perfectly regular and genuine in
every respect N their inception, but which were
invariably recognized and pronounced to be
genuine for period of time by the State agents.
How can people tell that the war bonds, which
are selling at &C. will not hereafter be repudateds
They are no. more genuine or more regular in any
respect than the bon IS issued BY Slower. II they
are registered at Indianapolis, the Slower bonds
were also registered, and even transferred here.
We confess to some surprise that the Board of
Brokers has not already stricken from it's list the
securities Of the State Of Indiana. The oblgs.
tions of State twice convicted Of the most bare
faced and scandalous robbery OF her creditors GER
tainly do not deserve place on the beard LIST.
and the Stock Exchange should not render itself
party to the sale of property which may very posi-
bly, prove valueess in the hands Of innocent parties
Between tho boards the market was inanimate. At
the second board stocks were lower again, and
the market closed dull, but steady, the following
being the last quotations-United States 6's, re-
gistered, 1881, 1927 l03; do. e's, coupon, 1881
los . 1861; do. SIS, 1874. s61I es11l; Treasury
notes. $40 per cent, IcsZ q 1867: Tennessee
6's, 58H $50; Virginia e's, So q 81; North Ca
solina G's, 10 rs; Missouri SIS, 5ll 5l3I; Ame-
rican gold, lot 1917. Pacific Mail LIS ll5I
New York Central, 92;. 92,'44; Erie, 36Z 36s.
do. preferred, e3ss 6s5ss; Hudson River, Al 471.
Harlem, IL l71s; do. preferred, AZ a Az; Read
ing. 57L o 5754; Michigan Central, 6311 63s.;
Michigan Southern and Northern Indiana, 26aI a
261; Go. guaranteed, slia CO: Panama, 1856
l3e; Illinois Central, 81 sil4: Galena ard Chica-
60, 7054 II; Cleveland and Toledo, 475S q Az;
Chicago and Rock Ialand 81 67it; Chicago,
Burlington and Quincy, IS o 7s5.; Milwaukee and
Prairie du CHEN, sel4 s6l.; New York Central
rs Of 1876, = 1922 Erie third mortgage bonds,
s7s971{; Michigan Central S., first mortgage,
lot 1927; Illinois Central Louds, rs, "a IS.
Parties in search Of cheap ard lucrative invest.
meats having their attention directed to the
securities Of the Chicago and Northwestern Rail.
way This road s now in successful operation
to Appleton, Wis, aud within the last four monks
the company have received from Washington the
patents or the lands to which they were entitled on
the completion Of the limo from Oshkosh 10 Apple
tor. The government have likewise donated
TO the ooupany eighty acres Of land in the city of
Green Bay. The people OF Green Bay and the
vicinity have contracted 20 grade the road from
Appleton 20 Green Bay, tweaty-nine miles, taking
in paymeLt he stock Of the company at par. The
iron has been purchased ard Gent out, and by the
end Of August or the lst of September at latest.
the road will We opened. This will divert Ire cx-
tens;ve vheas trade Of tue Fox aud Wolf river
regon--by far the finest wtes. growing
section Of the State-frou Chicago and
Milwaukee to Green Bay. To accommodate
the change, Mr.. Dean Richmond and the New
York Central Railroad are erecting q grain
elevator at Green Bay, and have made arrange.
ments for line of proreliers from thence 10 Puf.
falo. BY THE route the dangers II f,ll nav ation
on Lake Michigan vii be considerably diminished:
che farmers viii be provided with a much more
desirable and profitable market for their grain
than either Chicago or xiwankees 1t Is well
Known that grain never sells ns high ~ Chicago as
IL does further Mp tho lake. In view Of tie pros
pets Of the Chiceg 20 end Northwestern its sec md
mortgage bonds, which are selling az rs, and its
assented bcnds, which are selling at 49, niust be