The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-08-11
FINANCIAL AND COMMERCIAL.
THURSDAY, August 100 P. NJ.

II tlNAtNStHI
THURSDAY, August 10-6 P. NJ
rho stock market was dull but firm at the first board
tbs morning Erie closed IL higher than at the second
,oard Yesterday Reading Cleveland and Pittsburg ",
Rock Island H. Northwestern was Il lower, and Cum
herana unchanged Government securities were mode
alv strong but not very active Coupon skies Of 1881
,n,nroved x old five twentes sold at lO6H new l0a%;
ssven-thirty notes. second SERIES 99h u; one year
certificates new ISSUE e7%. The Western Union Tele
graph stock sold 49, and 20 was bid Tor us
ssRussan extension on which $40 per share has been
paid.
At the open board at one O'clock the market was
strong but afterwards weakened fraction, and at the
second regular board it was heavy. Erie closed lower
han at the first board, Cleveland a Pittsburg y.
Reading was " higher, Michigan Southern y, North
western H. Cumberland unchanged. Governments
we're quiet and a shade weaker Coupon Gve-twentes
declined -.
At the open board at hafpast three there was fur
Their slight decline Erie closed on the call at STU,
Reading 1851, Michigan Southern 66'< Rock Island
10sx, Cleveland and Psburg 1914 Northwestern lso 81
2s&, preferred 63T Ohio aud Mississippi certificates 10
Canton Soy
Petroleum stocks were dull at the first board with the
exception of Webster, in which there Is "cornerns
movement progressing The latter was 42c hgher IMAM
az Yesterdays first board Montana 20c, oceanic ioc
Buchanan Farm &C. lower Oil Creek loc Az inc
second board the market dropping. Pthoie creek
closed at S. Webster 81 49, Buchanan go, Central $2l
Excelsior 81 70, Germana 35c., Rynd Farm %, Ia;k
H. United States 500 95
The money market has been little active In some
quarters than It was Yesterday Most of the railway stock
brokers obtained all the loans they wanted without
difcuy per cent but the loanabe funds OF the
national banks having been reduced to very moderate
dimensions owing to the withdrawal from their custody
of nearly all the government deposits, dealers In national
securities who have bean accustomed to look to them
for loans found the supply Of capital offering hardly
equal to the demand Thus very contradictory reports
Of tho condition Of the money market In circula-
ton; while some asserted it had not been easy for
fortnight others complained that it close" Tho dis
count line remains dull at former rates-namey, %
for tho best grade Of commercial paper apd 10 10 for
the second.
The gold market has been somewhat excitod under
downward tendency of premium ASSIGNED by the
continued sales Of tho Sub Treasury and government rn
trenchment Cash gold is very abundant. and It is no
ceable that sales at seler three lays" have In some
instances been followed by immediate deliveries Of the
coin The report from Washington, published this morn
tng the effect flat the army is being rapidly dis
banded while it confirms the statement which made
the 18th Of last month, and which some undertook
to dispute that there six hundred thousand men
then the governmentpa rolls, exerts dcpe ssing
influence upon the market. The report in queston,
based upon official information says that there
million and fifty thousand men the pay rolls on the
LIST of May last that there have been discharged
that time seven hundred thousand men, two hun.
bred and sixty thousand of whom have been paid off and
mustered out Of during the last thirty days It
b therefore, estimated that only about three hundred
and thirty thousand still remain the pay rolls This
reduosion Of ths army, involving corresponding
reduction Of the public expenditures cannot do other.
wise than exert beneficial influence upon the frances
oftho nation, and although the national debt is already
too largo TO- be successfully managed for any long iod
without reduction Of the present rate Of interest,"
uomoa measures mperatively called for and cannot
be too strongly urged upon the administrative. The
burden Of taxation Is already severely felt aud make
1t endurabe 1t must be ghtsnsd. The rate Of interest
on the whole Of the funded debt Of the
country must be reduced three per Up coin II we
10 avoid the evils Of political agitation Of the ques
ton Of repudiaton and the financial policy Of the
country 10 key to become Of the great issues which
will decide the next Presidential election.
The opening price Of gold was 1881, after which u
declined to 142x, at Sb0 P. NJ II subsequently rallied
u, and closed al 142,i.
Foreign exchange has been dull at yesterdays rates.
Bankers ask 1osK 100 for their sixty days sterling
and 1o9k for short sight, but long bills have been sold
by brokers at 1887 H. and those at three days 1854
1ooX
The bulls in gold are carrying very heavy load the
weight OF which Is being Constantly augmented by the
ubTreasury saes much Of which includes hitherto
boarded by importers and therefore not taken directly
out of the street. When the Treasury has exhausted its
surplus and export demand sets in the market will
gain fresh strength and not until then Owing to the
abundance Of tho eating supply Of gold the market
those carrying II labor In most eases, under the disad
vantage Of having 70 pay interest upon its currency value
The tendency Of the stock market is upward although
there Is but very limited amount Of outside support
and there IL nothing the present prospective cond
ton OF the money market incrposc obstacles rise
Tho paying teller Of the Phosix Bank Of this city
was this evening brought up FOR examination at the JEFF
ferson Market Police Court on the charge embraced in
the following AFFIDAVIT OF the cashier of the bank
John Parker Of No As Wall street. being duly sworn
aeposcs and says-That at the city and county OF New
York H1nry B. jenkins (now hcre) did, as deponent
verify believes and charges, during the years past
feionous.y Take steal and carry away, divers of
money to wittwo hundred ard fifty ito sand dollars
che property Of the Phenx National Bank Of city Of
New York. Deponent charges the embezzIcmcnt and
felonioudy taking aforesaid from the fact that said
jenkins admitted 10 deponcn that he took and cmbezzod
the Wherefore deponent prays that said Jenkins
may be dealt with according to law and that he he hold
temporarily In order 10 give deponent opportunity TO
make proper complaint in tho premises
JOHN TAhkEh.
The Commissioner Of Internal Revenue has rendered
the following decision with regard TO the tax on tobacco
snur and cisars:-
Treasury DEPARTMENT
o. lcyi " IsTERvAL RgvsSrr !
WAsmsGroy August 2 1905
The tax tobacco sppG or cigars nc rues when hev
are sod consumed OF removed f5r consumption or SALE
2r removed from the place OF manufacture removal
from the factory 10 the store warehouse Of the manu-.
iactue not such MS renders the goods IIobe
70 DC assessed ror the thereon gince the ordinary
storerooms connected with the manufacory are included
Is part OF the place Of manufacture
whenever II Is proposed remove toba 20 or sny |
othcr MANUFACTURED goods articles from and bcyond
the limits OF the States lately the duty 10
winch such tobacco or other articles are liable must be
Immediately asccrtsned. In order TO do this inqrIrv
snouId De made LIST Whether the goods were manu-. |
featured and removed from tAe place of mnnufacnre
prior to September 1862 If they were no duty is 10
be assessed upon them ID Whoth a sale or such |
transfer or removal Of the goods has ever been made az
would cause the tax 20 Sd At what precise time
was the sale the transfer the removal OF the Qoods