The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-07-20
FINANCIAL AND COMMERCIAL.

WEDNESDAY July 1915 p. NJ
The stock market was shade better at the first board
this morning than second board yesterday New
York Central closed higher, Erie e, Reading ~ Mich
igan Southern ~ Cleveland and Pitsburg ~ Northwest
ern ", Fort Wayne V, Cumberland y. Government
securities were dull. but steady At the open board
at one O'Clock the market was fraction lower.
At the second board 1t was heavy Erie was n
lower than at the first board Reading l. Michi-
gan Southern u, Cleveland and Pttsburg TX North
western ", Rock Island u, Fort Wayne " Ohio and
Mississippi certificates u, Quicksilver ~, Cumberland
q. Government securities continued heavy. Coupon
skies OF 1881 were lower; fvetwenties Yers steady.
At the open board at half past three p NJ prices
without material alteration New York Central closed
s3T, Erie s1H, Michigan Southern 62h Illinois Central
126E, Rock Island 104z, Northwestern (hS 20. Fort
Wayne (s.3) 95h, Cumberland 40az, Quicksilver IS.
The gold market has been unsettled, under false
of the arrival of the Halifax steamer with higher
quotations for fvewenties 1t also reported that
the Treasury had sold about three hundred dol
lars of gold yesterday and that further had been
similarly disposed of to-day and that the intention
OF the Treasury TO continue to dispose Of its surplus gold
In this manner, reserving only enough TO pay
the balance Of this years interest ON the
gold bearing debt The bulls in the gold
market profess to be wisg TO take all the gold the
Treasury is willing sell Them in lots of five millions
not unlikely that the Treasury will sell portion Of its
daily receipts for duties but how far this will
affect the gold market will depend upon the confidence
Of the bulls in the future course Of gold. They
undoubtedly carrying heavy load at present. but
even under exaggerated reports OF an Adverse
character it noticeable that the premium is slow to
yield The difference between cash and regular sales
early in the day was 132 1-18 but 1t afterwards in
creased to g.
Foreign exchange continues heavy and low rates
operate strongly against the rise Of the gold pre-
MUM. Fivetwenties still continue to be RENTED in
preference to bankers bills and although there risk
involved in this it temporarily operates to depross tho
rates of exchange. At the time the condition Of
foreign trade would indicate considerable export Of
specie in the absence Of an equivalent export Of secu
rites.
Gold opened at 143x, sold up to 1887, and then
dropped TO 1925 after which recovered to 1924 the
price at half past five being 1927 q u.
Leading bankers asked 100 for their sixty days ster
ling but sales were made second hand at 10s%.
The money market has been little less active than
yesterday and there have been very few transactions at
over six per cent for loans call Approximations Of
active money market not entirely dispeled and
the Of any of the condition of the pub
lie debt the part Of the Treasury Department, and
the uncertainty felt with regard to its future
policy, tend TO increase them. Meanwhile It Is well
derstood that the of the Treasury urgent
and far In excess OF the its disposal Tho
question: How does the Treasury propose provide for
its wants pending the meeting Of Congress and the peo
pie have a right to receive answer, at least
to periodical statement of the public debt according
act Of Congress. In suppressng this Mr. McCulloch
committed grave mistake
Tho total exports from this port during the month Of
49,