The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-09-19
FINANCIAL AND COMMERCIAL.


hsesalaHe FRIDAY. Sept. ts-GP. N.
9vais has been very dni, dry in Wall street.
NO one seems to be anxiDts TO operate with vigor.
The merchants all doing so well ia their yafi-
Gus branches that they are not tempted ta eater
tdr -trcet for excitement Or the prospect OF gain.
Cold ia highey aga;a. II sold a, uooa to-day at
i.sss4 and in ine Afternoon vi 1888. Exchange
was HG..aa " The advance IL due. beyond ques-
ton mainly 10 the real demand ftr gold far duties
and fcr bii,s tsr remittance. which Dc tnaDd is mol
being resisted, as it once was. by copious bear
sales. We have understood however. that the
Treasury Department is not prepared to let gold
go up agaiu to $50 without au effort to protect its
issnes. And IA it is in the Secretary's power to
swamp the gold market by sales Of two or three
millions OF the Idle gold ia the Sub-Trcasury
while, on the other hand. he can supply the ex-
change market by the negotiation of loan
abroad. it il not unlikely that the present slow
bat steady upward movement may he suddenly
aud sharply checked any fine day. In point Of
TACT aud in view OF strict principle premium of
twenty-five per cent on gold may fairly be
garded as ample to express the depreciation of a
currency OF which the holders have funded
1910 900 900 in six months An advance above this
point may he caused either by wild p sculati0n,
"A WAS the case in December, January and
February last. or by AN accidental excess OF inn
ports over exports. a. is the ease at present And
az 1t would have been sound policy in the Secre-
tary Of the Treasury to prick The gold buhbIe last
winter. when gold rose to IL: 80 now, IL the pre-.
MUM continues to advance, he win violate no law
OF trade IL he steps in to resist the advance at all
events to the extent of not assisting the upward
movement by locking up idle millions ia the Sub
Treasury.
The stock market is very doll; but prices are, on
the whole. bettersthan yesterday. The business
done at the first board was smaller than for many
weeks past; some OF the commission houses which
complained of being ''run to death" few days
since no'g caiuying lueii" tiarnasl, yrpo>e.
There j.. doweyrr i" ps.s-.re Of sinc,s ay sale.
mt 40 ''rar movements "i aay consequence.
u-n.e prices Ar generally " Ii s,iS aimed
At the first board To-day New Yak Gen-
trai Is, Erie -. Erie preferred =,
Michigan Southern. q iIlino. =. p,tsburg q,
Galena a. Rack Island u Northwestern u.
Terre Haute q, Mississippi and Missouri IA. Har-
lem and Hudson were both tower. Caution and
Cumberland Were steady. Oaio and Mississippi
certificates were per cent better. Mssorris drop.
ped on z per cent The principal advance OF the
- - " $3.50 - 800 ' 49, " -
per ce". ihis ~ Que partly '" the INCREASED
eafhihes-whch afr averaging SlVV,oo" month";
against *'-''""' iaS' Seaf--a"" paruy ~ some Gu
fi'"' s"r'n'-es respecting '"e pohcy o. Tue direc,
ton. II j. known that a dividend OF -, on the
~p 80 : ~ NV'' W wy '"'i H'"'"
vas "eN'"ie" e'' y ''~' i"o"t"' pa!""'e "h %"in.
Before the 25tii-about the 10Th Augusta
,,.r,,, ,,.,,....i,. . 49,. l,;,., ~ IA. ana ~ -
P'!' f''s " " ~ '''"'' va tNo
company, enioned the directors from paving
10 i;.;a.oa to.,..a - ,.;.;.,. .a..... ~.
wy "'''"'' '"'s"' - s''"S S''"''i w
the 81 900, and paving the dividend to
,,a;. .,,.Lh,iaa,, ,.h;c, ,v,,,a 49,. -.
''''' 7'oN "io''''E' ""''' "o''" wv "cc"
the natural course. the company have taken
.ct;.. s,a,s H. ,.va .b.. Injunction ,,,,.a
-
thc dividends nave not been paid, aud the delay
has ~ cunrsc had an iniu,io,,. ea.rt n, l,ot,,