The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-07-01
FINANCIAL AND CONNER GAL.

were not Influenced thereby 10 any great extent The
market orered with better feeling than displayed
yesterday and majority OF the shares represented
she list advanced Compared with the highest cash
sales Wednesday New York Central advanced Is per
cent, Erie Railway y, Eric prsreTred y, Reading X,
Michigan Central l, Michigan Southern Il, Illinois Cen.
trail Fsisburs and Fort Wayne a. Chicago and North
western - Chicago, Burlington and Quincy q, Quick
silver Mining l, Delaware ana Hudson Canal and Penn.
sylvauia Coal Company /. Cleveland and pittsburg,
Chc.go and Rock Island and Marposa Company sold the
Hudson Kiver declined X, Cleveland and Toledo
8, Cumberland Coal "a, Canton Company u, and Ohio
and Mississippi certificates H.
The market was heavy In the afternoon, end prices
generally declined. The closing qeota.ions we're as fol
iows-New York Central 1874, Erie I1aY, and the pre-
farret stock ll21S, Hudson River 49, Reading 1872,
Michigan Central 1873, Michigan Southern 944, Illinois
Central 1870, Cleveland and Ptsburg N.Y. Chicago and
Northwestern So Cleveland end Toledo 1885, Chicago and
Rock Island IilN, Pittsbarg aud Fort Wayne l12h,
Pacific Mail 2eo, Canton Company ss4 Cumberland Coal
cox and Ohio and Mississippi certificates 81.
The United States coupon bonds OF 1881 closed at Ill
Interest on the rosercf nve-tweutes at lOok, ard the
coupons at al the thirtes at 1o4 and the
year certificates at 9S7s
The operations in geld teddy extremely wild, and
Gxed price could be settled upon by regular dealers
1t ranged between 90 aud 2i9 but the principal sales
were made at 2tT 70 24s
Sterling exchange quoted at 2s5 a67 for currency
and los 10 FOR gold II is announced that tho Assist
ant Treasurer vii! to draw bills
The government has negotiated loan, which repor!
places high hundred millions, with German
bankers The terms have no, transpired
The July interest the 1851 bonds will be payable to
morrow at the sub Treasury, in coin.
To-day closes the fiscal year OF the United States gov
ernmeut and If ruor proves true The functions OF sal
mon Chase Or Ohio, Secretary az the Treasury, viii
pass on witt IL report current in Wall street hat
The Secretary had already resigned about resign
and that the President would rot hesitate TO grant his
desire we could not trace the rumor to any reliable
starting point but nevertheless unwilling doubt
is authenticity Mr. Chase IS FOR The posi-.
ton ard have, stree his inauguration, continually
urged uron the President the necessity OF placing
at the head or the monetary affairs OF the nation
como person who had the ability 10 cope with
che exigencies that the troubled condition c. the
country would he likely 20 Produce and have often
told him that that position required man who had
sufficient knowledge OF the financial history q other
nations TO enable him avoid the difficulties and dan
gers which they encountered during times Of monetary
distress. We have also told Mf Lincoln that MI Chase
was ignorant Of the duties Of the station over which DO
had given him supreme ,nr0i and the stubborn
the latter has pursued his reckless disregard Of the adj
vice and admonons of his best ends and tae stesdy
decline OF the government credit under his admnistra-
Ilon must nave convinced GS luey nave
satisfied US, well the public generally, that
right. one month ago the five per cent loan
being absorbed at the rate Of millions per week tire
bonds OF 1891 worth fourteen per cent premium,
the rewentes selling ut thirteen per cen! above
par and The and enths Treasury notes could
not be obtained at less rate than 1I9, while
gold quoted at ISL. Mark the difference
Gold today worth $50 the subscriptions to the
tenory loan have ceased entirely tho bonds OF 1881
better argumen, than these figures furnish required to
the people thahe time for change in the ad
mnistraticn OF financial aff,rs at Washington has
rived ard that the resignation of Mr.. Chase i'll produce
general rejoicing.
1t is also reported that The President has appointed ex
Governor David Tod, Of oho, the successor OF Mr.,
Chase In the Treasury Department II this h ud prove
true the movement would he going from bad 10
Mr. Tod, 20 doubt is highly respectable broken down
politician, ard In the position OF head Of the Sanitary
Commission OF tsowestern States, Is fully able
plish all that the duties Of such station demand but
be is person calculated to restore the confidence
othe people 10 stay the rapid progress making
towards financial ruin. We want some man whose abb
litY to manage the monetary affairs of the country
Is unqrestoned and in whom the people reposs tho
faith which necessary to reestablish the government
credit. Such a Is General John A. Dix, OF New
York who is known TO every capitalist in the country
and who mas been tried and found equs TO the require
oats OF the station. Yet II appears that the superior
knowledge OF Mr. Dix has been overlooked by the Pres.
don't and his attention attracted towards Western poll
tcian who entirely unknown In monetary circles and
whose ideas OF fpance probably even more limited
than those OF Mr.. Chase.
The report OF tho Assistant Treasurer to-day Is as FOL
lows
roco,n,s from customs 1928 900 90
Total 6.75T,3I5 IS
Payments. ssoz. $50 -
The condition or the Of the three principal cities
OF the Union Is exhibited the following table, which
gives the aggregates Of their last weekly statements:
Loans. Specie. Circulation -epa-its.
Nyort June % sIq7 or 2oe 500 1853 7T2es2
Pbla. June ~ AZ 05776o s,.l3t40 20liI0 S9l.a,sf5
Boston. June 81 69g6l 0SS 6iosIj 9063725 30SS5ls3
Total .s39U95 SIS S2,f35lls l6g6S39I 22s76,9sO
Last week... 3049i.s 1856 333s7929 160T0T 239773930
Increase in loans. l65 800