The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-06-11
FINANCIAL AND COMMERCIAL,

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TUESDAY, June 10-6PM.
Money is very abundant, and can be borrowed
everywhere at per cent call. First class paper
sells at 4 s, and certificates of indie btedness at
1907.
Foreign exchange is firm at lis "a for sterling
and 4SSs4 400 for francs A large business was
done to-day at ll5A and 4.90. Gold is not so
strong; it came out freely at lO4N this morning
There is too much specie in the country to render
sudden advance in the market probable.
Stocks were irregular this morning; but large
business was done. The fluctuations of the morn
ing board comprised an advance of a in Pacific
Mail 70 in Reading and u in Missouri, and de-
cline of u in Central a in Erie, u in Michigan
Southern, u in guaranteed, "a in Galena and u in
Toledo. Between the boards the market was firm
but dull. At the second board the market was
rather lower, and closed dull. There was a good
deal of realizing to-day in addition to which
story was circulated at the second board to the
effect that our navy in the James river had
met with a disaster, which operated ad-
versely to stocks. The following were the
closing quotations limited States 6's, registered,
1881, l03 1885 do. 6's, coupon, 1881, 1861
1865; do. SIS, 1874, 96H 96A; Treasury
notes, $40 per cent, 1857 1867; Tennessee
6's, 602s 60H; Virginia 6's, 57H $50; North
Carolina 6's, 1874 rs; Missouri 6's, 53s5 531I;
American gold, lO414 l04sS; Pacific Mail, III a
ll7H; New York Central, 9211 92ss; Erie, 37A
80; do. preferred, 6524 $751; Hudson River, 47sS
47ss; Harlem, l57I Is; do. preferred, 371s 3S;
Reading 81 571aa; Michigan Central, 64H 64s4;
Michigan Southern and Northern Indiana, 27a 27S;
do. guaranteed, 5SsS $50; Panama, 1873 1856;
Illinois Central 647 65; Galena and Chicago, 7Os4
a II; Cleveland and Toledo 457S 49,; Chicago
and Rock Island, GA 64H; Chicago, Burlington
and Quincy, 1871 49, Milwaukee and Prairie du
Chen, 2s11a %; New York Central rs, 1876,
l07l 1887; Erie third mortgage bonds 9s a 9S11s;
Michigan Central 8's first mortgage, 1867 ILL
nois Central bonds, rs, 95s4 &c.
A correspondent in Philadelphia sends
munication on the subject of the Pittsburg, Fort
Wayne and Chicago bonds, for which we cannot
find space. The gist of his letter is that the re-
organization is open to certain legal objections,
which may seriously interfere with the financial
affairs of the company, and even prevent the pay
ment Of interest on the bonds. 1t has been gene
rally supposed that the reorganization was CON-
plete and satisfactory and that all parties in in
terest had acquesced in it. Our correspondent
appears to intimate that this is not the case, and
tios VIC OoAOCih HuS W ho AicoHS Sov ous Vi VIC
hands of the lawyers as yet If he is right. parties
who purchase the bonds Of the company at 81 and
70 may have reason to regret the investment
There is still a good deal Of talk about Mr..
Chase's late private operation in 7.30 notes. The
bankers who didn't get any of the notes at l03
think the transaction most scandalous, and are
loud in their complaints. Mr.. Chase probably was
not aware that purchasers of 7.30 notes at the
board pay the accrued interest up to the date of
their purchase. The fortunate participants in the
late operation were Mr.. Morris Ketchum and the
Bank of Commerce, Of this city; Messrs. JOY,
Cooke h Co.. of Philadelphia, and Messrs. Rittsn-
house, Lunt & Co., of Washington.
The business of the Sub Treasury was as follows
to-day
Total receipts 81 $40 $40 81
p,vmsnts tSs ZOO 200 10
Balance 10 All ,439 70
Some of the new $40 bonds have arrived in the
city. The centre vignette represents the combat
between the Monitor and the Merrimac.
The exchanges ut the Bank Clearing House this
morning were $26, 1850, 1926 3s, and the balances
81, 665, 1923.
The Minnesota Mining Company has declared a
sem-annual dividend of five dollars per SHARE be-
ing ten per cent on the capital stock, payable at
the Office of the company 1877 Greenwich street,
on the 7th Of July. The transfer books will close
on the 2Sth inst
The receipts of the Harlem Railroad for May
were:--
1862 ........................ "a, l50 81
increase .$lO,3O0 Il
The following gentlemen were yesterday elected