The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-06-26
FINANCIAL AND CONNER CiAL.
THURSDAY, June 25-6 P. NJ.

THURSDAY, June I'D +. M.
The money market was easy to-day, though some
bankers went through the form of calling in their
loans this morning. On call money was worth
Z per cent with about as many loans at the
lower as the higher figure. At the close of bank
hours we heard Of many parties who were unable
to lend their money. There is no change in com.
mercial paper or debt certificates.
Gold was better to-day. 1t rose to 1451 at the
second board, closing at five P. M. at about 144L
Exchange was 1853 a 1863, with not much activity.
The alarming statements Of the evening papers
respecting the rebel advance into Maryland would
have caused substantial advance in gold in any
other condition of the market. As 1t is, no one
has any courage to buy gold on speculation; no
one seems to want to hoard coin; and thus, in the
absence Of any inquiry, the price, whenever
buoyed up by adverse news, only preludes a fur
Their decline.
The stock market opened with great strength
this morning, and before the board Erie sold at
%, Harlem at s3A, Hudson at 1873. When the
brokers met however, at the morning board, q
fierce and very skKul attack was made on the
leading shares, which was assisted by the peculiar
maneuvre In Harlem, and was attended with
pretty general success. At an early hour of the
day it transpired that the members of the Common
Council who tasted the profits of stock specula-
ton on the occasion of the grant Of the Broadway
Railroad to the Harlem Company some weeks
since, were athirst for further profits, and that
a thimble rigging scheme with this view would
be attempted to-day. Accordingly, at four p. NJ.
to-day, the Board of Ceuncilmen passed resolu.
ton resembling the grant Of the Broadway Rail-
road to the Harlem Company. Practically, of
courea Tho Coumop CounciI uioht inst No wel N
have rescnded the charter of the Erie Railroad
Company or the constitution of the State of New
York. Under the recent grant the Harlem Com
pany have acquired vested rights which the Com
mon Council have no more power to disturb than
the Pope of Rome. But the object of members in
passing the resolution being not to disturb the
rights of the company, but simply to de-
press the stock for the purpose of buying in
again at low price. and selling out at
a high one, the proceeding was really less
absurd than it would otherwise seem. II had the
effect to-day Of putting down the price from SO to
72L Rumor states that the President of the COM
pany, Commodore Vanderbilt, warned the men,
bers of the Council of the folly of their trick, and
predicted that they would lose more than they
would make by it. But they would have their way
and Wall street now knows that, If II chooses TO
corner Harlem, the Aldermen and Councilmen and
their sporting friends short enough Of the stock
20 insure its rising TO 1885, If the corner be managed
a. skilfully as Hudson River has been The general
market sympathized more or less with Harlem.
Hudson fell 10 l3l-a decline Of per cent closing
at 1913. Erie sold'as low a. 941 IA decline Of ~
closing at $50. The Western shares we're all
lower. without much activity. Cumberland de-
| clned per cent. Governments were steady at
the morning session but lower afterwards In the af-
ternoon they sold at 1922. for the coupons Of 1881.
| Al the close to-day the market was rather dull,
the upward impulse having received check from
| the decline in Harlem. The SHOWING were the