The New York herald., 1862-07-26
FINANCIAL AND COMMERCIAL.
FRIDAY, July 25-6 r. NJ.

FRIDAY, July zo-0 r. M.
Money continues u woySs easily enough At about
per cent for yalI .oans. Mercantile paper is
quoted at 5 a6 4 per cent. Demand notes sym
psthlzed WIFI the decline in gold, and were quoted
al the close to-day at 1867 az.
CSld and exchange were again very feverish to-
day. Cola essea at ABOUT llsh before the teS,,, t,a
day, DEFINED steadily down to ll45ss, then raj
lied up to lls. AT the second board it sold at III,
ani closed ll6T bid. Exchange opened at l29,
declined to l27, then rallied and was quoted
at the close at l2s q u. Prudent men are
unwilling to operate in the present condition
of the market on either side. Bankers are reuct
ant either to sell or to buy bills. The backbone
Of the speculation in gold was broken some days
since, and if revival OF public confidence puts
an end to boarding, while decline in our
imports reduces the demand for export, gold viii
fall as rapidly as it rose. There never was any
legitimate commercial or financial reason for the
recent advance to l20. We notice that the dry
goods import for the week foots up 81 1858 ,s75,
against t525 ,26l came week last year. We pre-
sumo that the entries heavier than usual in
consequence Of the approach of the new tariff
regime.
Stocks were better to-day, as might have been
confidence and Of the news from Europe. There
was an active inquiry for New York Central, Erie,
Rock Island and other popular shares. There is
bear party in the Board; but if all their
operations are as profitable as their recent
short sales Of government sizes at 81 they cannot
prove formidable for any length Of time. After
the board the market was firm, without much
activity. At the second board stocks were steady.
Government skies of 1881 (coupons) again touched
par to-day. Comparing the closing prices of the
day with those of yesterday, we note an advance
OF "a in United States registered skies, ~ in cou-
pons. ~ in fves of 1874, "a in 7.30 notes, * in
Tennessee skies, "a in Missouris, 2A in Pacific
Mall a in New York Central. "a in Erie, a in
Erie preferred, ! "A in Hudson River, L in Harlem,
"a in Reading 2s in Michigan Central, 4 in South
rem old, "a in guaranteed, "a in Panama, n
in Illinois Central, q in Galena, "A in Toledo,
- in Rock Island, and "a in Burlington
and Quincy. The commission brokers report
an increased amount of outside orders to-day,
especially for governments and for the stock Of
those roads whose earnings are showing . large
increase. The following were the closing quota
tions:-United States 6's, registered, 1881, 9s94
a'99H; do. 6s, coupon, 1881, 99s+ a 100; do. SIS,
1874, S7H "a; Treasury notes, $40 per cent
l03 . Il; Tennessee 6s, 50H 81; Virginia 6s,
so a Sc: North Carolina 6s, 65 70; Missouri 6's,
AZ AZ American gold, ll6I III Pacific Mail,
lloA "a; New York Central, 9s14 as; Erie,
34H Il; do. preferred, 62H "a; Hudson River,
As "a; Harlem l45s q; do. preferred, IS
36; Heading, 561s 81; Michigan Central, COZ
Il; Michigan Southern and Northern Indiana.
1914 IL do. guaranteed, Sc a; Panama, 1927
1922 Illinois Central, 5611s q 81; Galena and Chi
cago, Gsl4 50; Cleveland and Toledo, AK a "a;
Chicago aud Rock Island, GA a "a; Chicago, Bur-
lngton and Quincy, 7s 10; Milwaukee and Prai-
ric du Chien. 3l94 s2I; New York Central rs
Of lS7G, los a Ito; Erie third mortgage bonds,
% a Il; Michigan Central SIS, lst mortgage, l07
los; Illinois Central bonds rs, 90 a H. After
tie second board gold fell to l1G5s q! and Cen
trail rose to 932s a.
The increase in the gross earnings Of the New
York Central for the year ending in September
over the corresponding previous year is estimated
by persons in position to judge at $4,000 900.
The Erie will probably earn about s. 300, ,oO0-the
largest years income in the history Of the road.
This large increase oftraic will place the finances
Of the concern upon velvet as the following table
will show
Estimated gross income 900
Working expense, less than. ...... 50 .000.o 600
interest on Ocnis say ..............- 400 800
Pay ments on account Loug Dock. ..... 125 900
Balance Of scrip to be taken up...... 450 900
-5, ,975 900
Balance 10 credit OF net income. 81 325 900
This will enable the company to pay regular
dividend on the preferred stock and have hand
some surplus in hand besides. Both of the stocks
Of the Erie have been depressed by sales for Eu-
ropean account. effected before the recent advance
in exchange. With bills at or near their present
price, this of supply is effectually cut off.
The Sub Treasurer received to-day $50 600 on
deposit at per cent likewise 81 900 900 Of small
bills from Washington. The business of the office
was as follows to-day
Total receipts 81 564 .205 50
--For customs. ........................ 3O0,OC0 90
Balance OBSERVATION-DISCLOSURES. s,725,ssI 90
The exchanges at the Bank Clearing House this
morning were s27,427 ,406 35, and the balances
sl,s5s,l7S 72.
The following are the rates of interest allowed
on deposits in London, England
Discount houses at call ............lh y per cent.
Ditto With seven days notice. IL per cent
Annexed are the rates OF discount in the princi-