New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-07-19
NoSpH7, July ls-y. 4.

et. MoSpS7, july ls-Y T.
Gold is weak, opening at 259, selling down to
254l and closing ut 257. Stocks on the st'eet wero
dun and steady. AZ the Stock Exchange. Government
bonds steady; Coupon Cs, lssl. loe'eioSt; Reg
istefed Co. 1881. lO2ial03; Registered S2os' 1870
iio3I Coupon sos, l04l dlGii Certificates s4.1sis
State Bonds steady; Tennessee e.. 57aos Missouri
Is. 65i06s; Mariposa Mi0ing Company, ha@3i Quick
silver, 74c74.; Canton 33a35t. Coal Stocks dull;
Dsau are and Hudson, o5a2i0; Pennsylvania Coal,
2ls; Cumberland Coal 6ei d6a,; Central Coal e2dos
American Coal, 90 Pacific Mail. 279a2so; Atlantic
Mail. I,6a 1904. Central Transit. 100 bid; New-York
Central. Is2dl32!; Erie Railway. Il3all3i; Erie Rail
way Preferred. ll2lsil2i; Hudson River Railroad,
la7aig7i; Harlem $40, looal9Oi Reading. 1914 0l3ai
Michigan Central. l339l33l; Michigan Southern, s2i
bas2s; do Guaranteed, Isalal34; Panama, 273a273;
Illinois Central l24i0l24i; Ohio and Mississippi Ger
t6caes Is, aO Cleveland and Pittsburgh. lo7i s07ti
North Western 5O 05; North Western Preferred. sol
as6I; Cleveland and Toledo 1864 Sl35i; Rock Island.
100. Ql0si; Chicago Burlington and Quincy. 1885, Pra
RE du Chen 6 Fort Wayne. l2t ll2t; Terre Haute
and Alton 57d60; Chicago and Alton, 57aG0; Toledo
and Wabash, sc. Stocks are neglected and gen
orally lower. There is no investment demand. and
the chief buying ia TO cover short contracts Nearly
all the business is done for cash. and few brokers are
willing to buy on time. Relatively railway shares are
the cheapest property In market but under stringent
money market there Ia room for sharp decline and 1t
/. Is fear which checks free buying Tho failure OF
ME Fessenden to borrow anything OF the banks as
courogcs operators for an advance who see in an ap
peal 10 the people for money steady drain upon bank
deposits attended by nigh rates for money. At the
Second Board the market lower. with disposition
to press sales for cash At the Public Board upon the
of a fresh call for 10000 men, prices
higher. Spectators have TO the CONCLUSION
that currency viii be manufactured that the
bank loan has failed. As Mr.. Fcssonden has now In
use the extreme limit Of United States Notes, or
plain currency, they viii be disappointed The Treas
my tobuy moneynot to manufacture any more.
The Loan negotiation has proved alter
failure the banks being unable TO do anything within
the scope Of the legal authority Of the Treasury. Mr..
Fessepden offered to sell s5o0ooooo Of bonds payable
In instalments. which was declined. The next step
will he popular loan in some form. The people would
10 glad get the s35 600 of Is Of 1891 interest pay
able IN gold and upon ten days notice the whole can be
Sold payable in greenbacks at Mr.. fessendens con-
yenience. The Department has further resource in
100 currency notes. which can BIO promptly printed IL
s proposed 10 make them fundabe at maturity into
twenty year y cent goldbearing bond. They viii be
freely taken by the public and from their sale. after
using the proceeds Of the s35,0O0o0o Of bonds. the
Treasury can be carried on The banks In this negoi
alton, which tley warmly solicited. have displayed
want of forecast Instead of promptly volunteering
10 boy go OOo 900 If bonds and controlling the mar
let after getting the Secretary from Washington and
causing great excitement they have forced the Treas
ury back upon the people by assng unlawful and an
reasonable terms, aud have exposed their deposits 10
dran ct moment when financial substitutes
cannot DO found except at great cost
Assuming that the people mean TO keep the Treasury
supplied in connection with the fact that the depart
ment intends TO buy money, il becomes necessary for
spectators and ali doing business upon borrowed mo-
ney including banks who make money by loanng the
deposits of their dealers to be careful An appeal TO
the people will surely force bank contraction, ano II
NAV terminate in many In liquidation by COM
mercia houses and banks The people are not ineuned
70 be enent with that class OF bankers which bas de-
cried legal tenders a. trash more valuable than
continental money ssagnas. The people everywhere
regard the legal tender notes the best money next to
gch and will under bank contraction DO satisfied
with nothing else. Already parties who oss green
backs on their checks made 10 open accounts 10 that
had Of money, just special accounts were kept In
gold The sucrings Of speculsto5 are beginning to be
sharp but this oreshadows greater ease A the govern
nent finances and higher reward to oil who live upon
their labor or fixed noosos Tho closing prices were
American Gold. POP; Now-York Central 1874 9l3oii
Erie ll3l dll3ii Hudson River, l27iSl27ii Resdng'
lA; Michigan Southern. s3tee3ii llisois Central
Scrip l9I. ale5; Cleveland and Pttsburgh. Zoe cl6ti
Rock Island, i0sia
NEw-YoRx. Monday Jsly Is, 1864.
At meeting of bank officers, held at the
American Exchange Bank, on Saturday tic 10Th
met, the following resolution was adopted. vki
Re.Ired That the banis OF .swYork. Boston and Phtis
depha be recommended 70 take from the see,sy q ,as
with interest payable ornGnnuay IN ls-f9l noney OF ts
United states the notes convertible at mst1ry INTO ="
81, per Cent Bonds OF that the $40 bonds Be taken dsocy
provided .story sanr cement. be made VIII tue Bee
ie,sTy Tor the pay uicnt thereof BY the banks ,,.
The resolution referred 10 tle following ConmI'-
tee viz: Mes.rs. J. D. vermilye. James Prdncw Geo.
s. Coe. j. Q. Jones and b. Berry.
At meeting Of the bank Officers lels on Monday tie
18th inst tic following preamble and resolutions were
adopted VIZ;
ors 20 ed the Goy,r9msn by placing Its tAposa the se
Of their resources AMI busno ae~ Tor tl~ dlstnpunn
OF the National Loans, desire to place upon reI'sd INC ''"
R.olrsd That they have bcos Dlseei TO make this EFFORT
Whereby the aetna cnrssl Of oil institutions. .nd .ivdas.
ia the country Is being eoatisualy Snpasa y'' TSs =
70 ',ensh5hn h1 u .n;s a. Sp,%eea ether :. .d
vance Of $500 600 to he Icpl oin proceeds o. .sss o.
Treasury N, Bond. Oo made p TIE S,s o. tho o o
tire might bs gricese or 70 Rashh. S s's'' '-
Rared That IN all these effort. at neesison tire sere
sry Of the Treasury has maniss,sd hI y we
value of The services which the Banks could reader s:e
be love has sAuesy sIveu avail himself Of thok 20
bat las been restrained from doing ,'rpy ~ sxns
ou regard lSr iAc law which PIsIss % BY do
20 tho apverluept . a, 3, -