The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-06-07
FINANCIAL AND COMMERCIAL.
FRInAY June 6-6P. M,

FRIDAY, June 6-6 7. M.
There is very little doing in money. Cali loans
ore quoted per cent, first class commercial
paper s, and certificates OF public indebted
ness one year to run, at per cent interest 1909.
A sudden though not unexpected demand Tor
green backs arose to-day, and they advanced to
lOlL. They are receivable for duties, and in this
respect equivalent to gold.
Foreign exchange advanced to-day to ll4A q
us for sterling, and 4.s3s 4.sl for francs. The
advance is due to the advance in gold. Mercantile
bills continue scarce. Dealers and buyers of ex-
change are all specializing as to the period at
which cotton viii commence to come forward
As was to be expected after the buoyant and
active market of the past few days, stocks were
less excited to-day, and at the first board prices
were irregular. Governments, Pacific Mail, Hud-
son, and the Michigan shares were steady; but
Central, Erie, Rock Island, Toledo and Illinois
Central were all "a az lower than at the close
yesterday. Some parties realizing the profits
they have secured on the advance of the past few
days. OF Central and Erie especially the sales
were very heavy this morning. Both stocks found
a ready resting place, and orders which could not
be executed last evening were filed at this morn
ings decline. At the close OF the board the mar
ket showed more indications OF strength, manly
. In consequence of the news from the Mississippi
Between the boards there no business done,
and no stocks offered. At the second board there
was very little change, but there was less dispcs
tion to buy. At the close the market was dull,
the following being the last quotations:-Unted.
States s's, registered, 1851. 1929 "a; do. SIS.
coupon, 1881, 1853 log; do. SIS, do, 1874, 95I
$685. Tennessee 6's, 5sA co. Virginia e's 81
u; North Carolina SIS, 70 q "A; Missouri 6's,
S3A 3s; American gold, 104 q; Pacific Mail,
ICY u; New York Central, 9l1aa "a; Erie,
3s4 a u; do. preferred, &C Il; Hudson River,
46A Is; Harlem, l4s4 Is; do. preferred, 36ss a
70; Reading, 52H n; Michigan Central, 6454
u; Michigan Southern and Northern Indiana, p
. e; do. guaranteed, So q u; Panama, l32 "a;
Illinois Central, 63T a g.; Galena and Chicago,
7Os4 II; Cleveland and Toledo, 45A q;
Chicago and Rock Island, GA a Is; Chicago, Bur-
hngton and Quincy, rs 1a Milwaukee and Prai-
RE du Chen, 27N %; New York Central rs,
1876, l07 49,; Illinois Central bonds, rs, IS Il.
The Michigan Southern Company have already
obtained subscriptions to the amount of 100000
for the purpose of taking up and paying off their
overdue first mortgage bonds. They want to raise
$500 900 more; and if the stockholders and bond
holders in the concern are wise they will make
MP this amount The total amount Of overdue
1rst mortgage bonds yet ahoat ID about million
and half. They are worth about par, and can
not rise higher because the company has the right
Of paying them OF at par 1t any time. Hence
they keep the sinking fund bonds which come
after them at discount, when all other bonds Of
the same class sre,worth 10 per cent premium,
and efectualy prevent the payment of dividends
ON the stock. If they were paid OF the sinking
fund bonds would become first mortgage on the
whole line Of road, limited to $4,000 mile or
hereabouts, and would soon sell As well "a other
FIRST class bonds. The holders Of the sinking fund
bonds and preferred stock will clearly promote
their own interest and make money by subscribing
the amount required to pay OF the old first mort
cages.
Y sub-Treasurer received $39o,74s to-day in
1ef der currency, to be converted into $40
boz The deposits at four per cent were about
$3.50 800. Mr.. Cisco has been in consultation with
several leading bank presidents, and rumor is busy
on the subject Of further issue Of 7.30 notes.
Nothing has thus far been determined, 80 far as
we can learn. The business of the Sub-Treasury
was as follows to-day
keceipt6 III ,Sft ,Z04 w
For customs ACKNOWLEDGEMENTS. PSI 900 90