The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-07-22
1,946,922
Ill, 5sI $1,000

ly expected, in view OF the recent heavy ship
ments Of coin. Very little or none Of the gold ex
ported to Europe, and shipped to Tennessee, Ken
lucky and Louisiana for the purchase OF cottoI
aud sugar, has come out Of the banks. The in
crease in deposits is greater than was anticipated
Money is again flowing hither from the country fol
employment, and unless speculation OF some kind
or other can be started the banks will experience
difficulty in employing their means. The loans
increased last week only half as much as the do
posts.
Money was abundant to-day at s per cent, and
we hear of loans on call below that 6gure Mer
camille paper is quoted at per cent. Ger
tiiicates of public indebtedness are selling at o.
having sympathized with United States SKIES
Demand notes are not very active at l0S.
Exchange rose this morning to 1872, but was
afterwards quoted at13lH l32. Gold rose 81
one time to l2OL but afterward sold freely at 40.
and in the afternoon at ll9M; it closedlat in the
afternoon about 1917 bid. In abiding in this
mornings article to the par Of exchange, we meant
of course sterling bills at 1925 not at 100, as soms
persons in the street seem to have imagined. 1t u
not at all likely that we shall ever see gold at ll6
and exc ange at lOO but it is by no means unlikely,
in the opinion of persons competent to judge, that
we may this fall see gold selling at LIS and bills at
ITO, in which case gold would flow in this direc.
ton from Europe.
The stock market took an upward start this
morning, and there was quite an active inquiry fos
some of the speculative railway shares. At tho
first board New York Central rose l1H, Erie q.
Erie preferred a. Toledo TX, Rock Island ~,
Galena ~, Burlington and Quincy 2, Michigan
Central ~. Illinois Central "a, guaranteed TX,
Pacific Mail II, Panama /. Government stocks
remained where they stood on Saturday afternoon.
It has transpired that the heavy sales Of govern
ments which have been made within the past
week were for account Of parties who allowed
themselves to be frightened by threats uttered BY
few rural Congressman on their passage through
this CITY, to the effect that Congress would repeal
the provision of the law requiring the interest on
government stocks to be paid In coin. It was
as atrocious to make such threat as it was silly
to believe In its fulhlment. The public faith Of
the country is pledged for the payment of the In
teres on all the public debt in coin; Congress u
Just as likely to repudate the whole debt a.
to recede from this solemn provision Of the
law. After the board there was reaction OF n
II per cent in the leading stocks. At the
second board o part Of the reaction was re-
covered, and the market closed steady, the fol-
lowing being the last quotations:-United States
SIS, registered, 1884, ssl $50; United statess's.
coupon, 1881, 9s1 sss4; United States SIS. 1874.
ssL 81; Treasury notes, 3-l0per cent. 1927
1927; Tennessee s's. 6oH sou; Virginia 6's, 50
50; North Carolina 6's, - a64Hs; Missouri s's,
Al a AZ; American gold, llsI 100; Pacific
Mail. 1917 a 1879; New York Central, s2%
s22@; Erie, s4A q $40 do. preferred, 90 621I;
Hudson River, 4s1< 4311s: Harlem. l4sl Is;
do preferred, 351s q s514; Reading, IS Sc;
Michigan Central, co a 6o14; Michigan Southern
and Northern Indiana, aga 25; do. guaranteed,
55sS a So; Panama, 1872 1929; Illinois Central.
SIX SIX; Galena and Chicago, 70A 1917
Cleveland and Toledo, 47ss Az; Chicago and
Rock Island GA Ga; Chicago Burlington and
Quincy, tn Tx; Milwaukee and Prairie du
Chen, 3214 SO; New York Central rs, 1879,
1857 =; Eric Sd mortgage bonds, 90 . $50
Michigan Central SIS, LIST mortgage, 1851 lO7N
Illinois Central bonds, rs, 93 95.
We place in tabular form, for convenience Of re
ference, few Of the statistics contained in the
extracts from the forthcoming census report pub
lished in this mornings HEEALD:--