The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-09-05
FINANCIAL AND CONNER IAL.
MONDAY, Sept. 4-6P. NJ.

MONDAY, Sept 4-6P.M
The improycment which the stock market experienced
late on Saturday fully maintained this morning, and
the volume OF business at the first regular board was
LARGER than usual But the market Is still unsup
ported by outside influence. The extreme abundance Of
money however and the easy which loans can
be procured afford every facility for putting up prices on
lhe part of professional operators headed by the
speculative director OF Broad The latter is
large holder Of Erie, and the higher the mar
ket goes the more advantageously he can sell
out his stocks Seeing the inclination to operate for
rise which prevails among the 'curbstone" men, he
disposed assist them till it suits his purpose to dc
otherwise
At the FIRST board Erie closed az higher than at the
second board on Saturday, New York Central y, Hudson
River N, Reading y, Cleveland and Pittsburg l. North
western e, Rock Island u, Fort Wayne y, Ohio and
Mississippi certificates I, Cumberland Quicksilver y
There was of Ocean Bank stock at co. and Fourth
National Bank at &c. securities were strong
under OF the favorable statement Of the pub
lie debt and the advance Of hvetwentes in London to
90 o9h the 18th ult. Fivctwenties TO 1o7I,
advance of u. The now issue improved r. skies OF
1881 y. Tenfores unchanged.
At the open board tho market was moderately active
and prices higher At the second regular board It was
barely steady New York Central closed at ~ Erie l'
Reading u, Rock Island u, Fort Wayne u, Cumoer
land u. Hudson River u lower. Cleveland ana
pittsburg X Northwestern n Ohio and Mississippi u,
Quicksilver " Government securities were frm Cou-
non nyewenties of tho old issue sold at 1919, ten.
forties 94h.
At the open board at half-past three the market
was strong under the continued purchases OF the
Broad street party, followed by the "small fry"
OF the street, who have unboundod confidence IN
the speculative director Of Erie because of his
fu IN tnAna
prices But it must be remembered that the opera
tions of a powerful capitalist clique liable to
be reversed at any time and that what he they may
do to-day may be reversed tomorrow or next week.
But just the Erie star is in the ascendant and Erie
burns bright flame, around which multitude Of
moths Ere closed on the call at 90T, Hudson River
I10A, Reading l07H, Michigan Central 1924 Michigan
Southern 66zs Illinois Central 124 Cleveland and Pitts
burg 1871 Cleveland and Toledo 103, Rock Island (s3
Il0 Northwestern 29h preferred 641S Fort Wayne 9S
Prairie du Chen 4sh Terre Haute and Alton 80, Cum
berland Az, Quicksilver 52s, Mariposa 1871
The petroleum stock market rather dull and
heavy At the rst board Excelsior &c. lower than
at the same time on Saturday; Tinted States i0c. At
the second board there slight improvement in
portion of the list Pithoe Creek closed at IS co.
Webster d. 10y 81 95 Buchanan Farm &c., Cherry Run
Soc, Excelsior 81 TO- Heydrck Brothers 81 rs, First
National 25c Oceanic 81 0S, Oil Creek So As, United
States d. 10 S2s rs
Gold opened rather weak at 143A, at which price
considerable sold, but it gradually became
stronger and rose to 14 then recedsd u, and cosed at
the highest point of the day The supply OF cash gold
was not abundant loans made at six per cent
on the currency and in instances at 1872 COM
IN ssion.
Foreign exchange dull the closing rates Of last
week Bankers bills at sixty days were quoted at
l091 "
The money market showed great ease, the supply Of
capital being Of the demand at five per cent for
Call loaus The statement Of the Associated Banks for
tho reflects this condition Of monetary affairs
The loans show increase OF more than two millions,
the deposits Of nearly million and quarter the legal
tender Of three millions, and the circulation of half
q million. Tho specie, however, has experienced fur
Their decrease of more half million, leaving only
&l4 443, SGT in the banks
The tr.ing increase Of only $436 206 In the national
db the end of July and the end OF August has
been subject of favorable Wall street TO-
day 1t shows that the hitherto great borrower-govern
ment-has been out Of the market during that time; but,
nevertheless, its disbursements have been going
forward actively. Thus the amount Of currency
In the Treasury the 31st of July was
TIA, whereas tho a1st of August this sum had
t.en reduced S42 1892 2S3 difference Of $3S OIL 491
the 1--WE per cent temporary loan has increased moro
nan eleven millions and half while the six per cent
temporary loan has decreased nearly three millions and
half; and the old certificates have been taken up
much rapidly than the have been paid out
that there is decrease under this head Of
than twentyone millions and half.
The and two years five per cent notes
have been redrccd millions and the three years.
pound interest Increased within tr1e Of
1--WE millions The fractional currency shows increase
OF than half million, and the suspended requisi
lions have been reduced than twelve millions and
half The coin In the Treasury" has increased
than ten millions notwithstanding the reported sales Of
the Treasury from time TO tmo On the whole the Urea
sury is in easier position than there not
long since to suppose would be at this time; but the
reductions in the army navy and civil have been
rapid and the sales Of government property made
useless by the termination Of the war; have yielded
large Of money that this change in Its cond
ton Is easily accounted for The next. and subse-
queut statements hardly likely to be favor
able ~ the present one, for the receipts from
the sale or horses vessels and other property
VIII gradually dwinile aud tho reductions IN the army
have yet bcen sufficient TO reduce the current s
renses OF the to scale corresponding with
its income Certificates Of Indebtedness WILL therefore,
be paid freely to the creditors Of the government and
when their amount becomes inconvenienty large II
sooner the Secretary Of the Treasury may be induced
put forward the funding loan authorized by Congress for
embracing securities together with interest bear.
Ing notes.
Our remark on the Treasury statement yesterday
should have ad 'Thc statement, it will be seen, is in
every respect surprisingly favorable one instead OF
''probablc one, printed.
The following figures compare the last weekly state
ment Of the New York Associated Banks with the
returns OF the previous week -
Auget 90 September 2.
Loans. $209, s23, sos $2l1 1894, $40
Deposits. 11g,053,676 1S0,316, $50
Specie. ................. 16,023,oi5 IA, 1887
Legal tenders. 64,249,s06 1921 100
Circulation ............. 1882, Ala s,509l75