The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-08-16
FINANCIAL AND CONNER ClAL.


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FRIDAY, August 1916 p. NJ.
The market continues well supplied with money
at per cent, with occasional exceptions at
and 5. Certificates of government indebtedness
advanced to 99N this morning. These will be Mr..
Chase's chief reliance for paying contractors
until Congress meets. Demand notes are quoted
107 a Il, decline of "a since yesterday.
Gold and exchange gave way this morning, as
might have been expected. The former, which
sold yesterday at ll6, done at ll5 at the first
board this morning, and at ll44 afterward; it
closed that bid. Bankers who yesterday refused
to sell at 1851 were willing to draw at l2711aa
to-day, but could not get over l27. The recent
advance in gold and bills seems to have been the
result Of IN operation which, III stocks. is gene
rally called /" a corncr.n The idea OF 'scorner-
ing" gold is striking illustration Of the strange
state of our financial condition; but the operation
was made and with some success. Possibly, had
not the importations been larger than was expect
cd, it would have turned out differently. The
entries Of dry goods last week amounted TO nearly
million dollars.
very large amount of business was done at
the Stock Exchange this morning. though the
speculative iobbers called the market inactive.
vance in United States skies was Il, in $50 notes
n, fves Of 1874 NJ, in one year certificates Is.
State stocks were in better demand; Missouris adj
vanced :. and Tennessees "a. There was quite
an active inquiry for first class railway bonds.
The Pittsburg and Fort Waynes rose per cent,
the Chicago and Northwestern seconds ~.
Among the shares there was but little change.
Pacific Mail rose q, and Burlington and Quincy /.
IN, al hon HyIs pcI
*, and guaranteed x. Central, Erie, Erie pre-
fered Michigan Central, Southern old, Illinois
Central, Galena, Toledo and Rock Island were
steady at last evenings prices. After the board
the market was very dull. A certain number of
SPECTATORS are waiting to hear from the Army of
the Potomac before they move. The moment the
safety OF that army is secured there will be rush
to buy, and it is evident that the slowest operators
will have to pay handsomely for having waited.
The Fries and the leading diviaend-payng stocks
are being picked up daily by investors; the
former promise to become once more the fayorite
plaything for spectators in the street. At
the second board there was an increase of or
ders, especially for the Eries the Western shares
and Pacific Mail; and, though there was no par
ticular change in quotations, the market was more
lively and stronger than in the morning. 1t closed
firm, the following being the last quotations.
United States G's, registered, 1884, 1909 =;
United States e's, coupon, 1881, looH Il; United
States SIS, coupon, 1874 s94 q; Treasury notes,
$40 per cent, 1882 "a; Tennessee 6's. 81 u 50;
Virginia SIS, 531z Sc; North Carolina SIS, 6s s.;
Missouri 6's, 4sZ II; American gold, ll4A a
lis; Pacific Mail, 1887 l09; New York Central,
035s a x; Erie, 373s "a; do. preferred, 6711
"a; Hudson River, As a AZ; Harlem, 16 a al do.
preferred, 80 q 40; Reading, 59I a IL Michigan
Central, $50 q Sc; Michigan Southern and North
ern Indiana, 272s II do. guaranteed, 59h q;
Panama, 13s 1897; Illinois Central, 6lTs a 62;
,, Gaena and Chicago, 72H a "a; Cleveland and
Toledo, 50l4 "a; Chicago and Rock Island, GA
"a; Chicago, Burlington and Quincy, s5H So;
Milwaukee and Prairie du Chen, 32A a 80; New
York Central rs, 1876, lo9 Erie 81 mortgage
bonds, lOl4 a le2; Michigan Central s.. lst
mortgage, 100 "a illiuCis Central bonds. 70,
971l q 50.
The first week in August on the Chicago and
Northwestern shows an increase Of si,0S5, the
figures being sIe573 against sl2 ,4sS same week
last year. This rate of increase secures the in
tcrest on the whole bonded debt Of the company.
The iron is being laid on the Green Bay extension
which will be opened next month, giving large
increase Of traffic to the road
| The Sub-Treasury received over 100000 to-day
on deposit at per cent, and $4,000 for CONVEX
sion into $50 bonds Success in the field will soon
revive conversions. The business Of the Office
was as follows to-day:
| Receipts 81 ,4l9 059 50
For customs. soVo w
Payments. x',iVoss -
Iaiancs. $3.50 s26 10
| The exchanges at the Banking Clearing House
this morning were s2I 1872 1856 Is, and the balances
were 81 1874 1868 36.
The Home Life Insurance Company has de-
clarcd semi-annual interest dividend Of three
| and a half per cent, payable on the 18th
| inst; the Lorillard Fire Insurance Company.
a semi.annual interest dividend Of three and a
half per cent on the capital stock, and an interest
dividend of six per cent on the outstanding scrip