The New York herald., 1863-10-01
FINANCIAL AND CONNER GAL.
WEDNESDAY, Sept. aO-s p. N


Gold dropped of to-day to l4l, closing at that
price. Exchange was about l54H 1855 for
bankers bills, and heavy. The Treasury dis
bursement of 900 600 tomorrow. for interest on
the 7.So notes, will supply the demand for gold
for duties for some time to come. Nothing has
yet transpired with regard 70 the intentions of the
Secretary of the Treasury as to the disposal OF
the surplus gold which is accumulating in the Sub
Treasures from the proceeds Of customs. 1t
stands to reason of course, that the government
will not permit accumulations to 20 on which
create scarcity of gold, and thereby force up
the premium, and depreciate the national cur.
rency. When and how the gold should be sold are
the questions for the Secretary to determine. The
interests of trade require above all things that the
price of gold should remain steady. 1t matters
little whether the premium is rs, or 80 or 49, so
long as it remains steady at some point or other.
1t is the fluctuations in the premium which unsettle
commerce, and render every merchant gambler
IN spite of himself II has been suggested that the
Secretary should, by careful study Of the market,
In view Of the present and probable future issues
Of paper, Of the probable demand for gold for ex-
port and for duties, and Of the probable pro-
gress of our arms, fix upon some particular
point, as 100, l35 or A0, % figure
Ut which the SUBJ Treasurers should be authorized
to sell their surplus gold whenever speculation,
panic rumors caused that point to be reached.
The government broker in England keeps the
price of consols pretty steady by his purchases
for the sinking fund when they fall. similar
policy. judcious'y carried out here, would impart
more stcadiness to the gold market.
Money is easy; call loans per cent. Few Of
the leading houses are large borrowers. Some Of
the minor spectators, who have standing in
the street and no capital to allow large margins
on their loans, complain Of q difficulty in finding
money; but brokers in good credit are not paying
over six, and many of them are supplied at five.
Mercantile paper is scarce; the best names pass at
6 q per cent.
The stock market opened strongly this morning,
but became weak and tame at the first board.
There was not much business done. People to-
day did not seem anxious to buy stocks, and the
bears were ready to supply the moderate amounts
which were required. At the first board Quick
silver declined per cent New York Central Il,
Erie ~ Erie preferred a. Hudson a, Harlem 2,
Michigan Central IA, Illinois Central !, Galena Il,
Rock Island "a, Fort Wayne a, Chicago and Al
ton Il, Central American Transit s. Old
Southern fiuctuated between 7s and IN, as
against Tx last evening. The exceptions
to the market were Pittsburg which ad-
vanced "A per cent; Reading, which advanced
4, and Toledo. which rose "A. Governments were
steady. After the call, and at the one p M.
board, the market was quite heavy. Erie fell of
u, Central II, old Southern "a, Harlem Il, and SO
on The market was very dull, and the hammer
ing of the bears gave it quite heavy aspect.
There was some recovery in the afternoon in
Southern old, which was done at Tx, against 76h
At the public board; Pittsburg also was firm; but
the rest of the market was inanimate. People
seem to think that old Southern has about touched
bottom. The decline from the highest point is
sse per shares pretty heavy fall to take place
without any real decline in the intrinsic value Of
the property At the four P. NJ. call the market
WA a shade better, without much animation. The
following were the closing prices of the day.
Us Ss' 81 ,Ss iC7 % ar's~ piefdisi siss
Us1 80 n.Asols7A lo7K Reading :;.I1S% s 1IsX
Tscs US iyc;nts ioi 1olX Mich 50 hNIa Tx TX
NJ ;nt IN cur ee1 eeX Do guaranpd .l34 q 1856
Sms' can scid14l al4lX III Central. 1854 a l2o
sA..so"r,s 0sxa SO Ciev h Pitts. .100H 1908
rssiSc sscy Nall. ans Gal 4 Chicago los losX
= y censrsi la3x l33X CIeve & Tol...1l7 . 1ls
rr.s -. 1854 1857 DARK Lex div106k o 100
Eris prclerred.lO44 104n Nil &P du g.. % %
Huds n River 1901 l30h
The directors of the Cleveland and Pittsburg
lin. WI, meet tomorrow. We learn that they
vill declare a 4 per cent dividend, and will show
that they will have handsome surplus on hand
after paying it. There has been in this case the
usual talk among operators Of an injunction on the
dividend. But. as the company advertises its
readiness to pay any debt or claim on presensa-
tion, It may escape this annoyance, to which II
would seem that reorganized railways are partica-
larry liable.
The following is an official statement Of the busi-
ness OF the Cumberland Coal and Iron Company
from January i, 1868, to August 81 last
1852 90 ". an ,oo a.
Dec 81 Coal on hand at date. te.......''..'. 01S0 %
1863 .
august 3i.-Freight paid on coal 70
irs. ~ ua,d on coal 10 Georg rgetown 23170 OF
r.A- ra "a on os.sl 10 GoorgctOWn.. 1908 81