The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-08-03
FINANCIAL AND COMMERCIAL.


WEDNESDAY,, August z0P. n
I'm. stock market was moderately strong the call 81
the first board to-day Hudson River closed IN higher
than at the second board Yesterday Reading " Michi
gan southern n, Cleveland and Pittsburg y, Rock
Island ", Fort Wayne n Erie showed decline Of y.
Government securities hrmer. Coupon fve-twen-
ties of the old and issues y higher. Coupon
ten-forties were duh at 96 Seventhirty notes Of the
second series sold at 90 1884, and year certificates
at 9rk
Al the open board at one O'Clock the market
was nearly steady but rather dull. AT the
second regular board and previously, the ten
dency Of prices upward New York Central was
?. higher the call. Michigan Southern q, Illinois
Central r. Cleveland and Pittsburg a The directors Of
the latter road at Cleveland to-day and agreed to
pass the dvid nd although the earnings Of the road
were acknowledged II was, however
contendcd that the surplus might be probably
poyed in improving the road, and that the
pany in such would be in position to declare
s per cent dividend in October Fort Wayne
was unchanged. Government securities dull
and shade lower. Fvetwenties receded q.
Seven,hirty notes OF the second sold at 9s7s.
At the open board at halfpas three the market was
dull but STEADY. Erie sold the call at sSh, Reading
1O4, Hudson River 1884 Rock Island 1885, Michigan
Southern 65k, Cleveland and Pittsburg ts.3) 69n,
Northwestern 27k, preferred 81. Afterwards, on the
street the market was stronger Erie closed at 9ST
o. Cleveland and Ptsburg COX X, Reading I04x
Ak.
The bugbcar Of q tight money market was revived
with greater intensity than before, and the alarm
spread Many complained of greater difficulty in
borrowing at per cent than on yesterday;
but others found moro abundant supply Of
money that rate, and opinions were divided as to the
future Of money although the majority favored
increased ease and the view to take
- ahout hon ondvn
lions of currency circulation including the national
and State issues and the prospect of its further in
crease strngency is impossible although great monetary
activity and the present high rate Of interest may pre-
vail The funds lodged in the Sub Treasury to tho
credit Of dsbursng officers will soon be in active crcu
ation. The discount line is firm and first class CONNER
ci paper passes at TX per cent and that Of the
second grade at 10 IL.
The gold market firm till late in the afternoon
when it broke under heavy ''short" sales by promi
nen broker. The reason assigned that the state
mcn the aggregate Of the national debt showed it to
be much smaller than generally supposed The total
of the acknowledged and registered public ndeb
edness on the Sls Of May 81 6s5 753 and it is
now represented to DO only g. 1871 1858 275, in
Of $122 500 during tho last two months This
seems remarkably small, especially when consider
the subscriptions to the thirty loan under the
of March g. 1855, returned at $500 81 $50
in the statement Of May 81, and that they have
since been increased to 5000 0O0 O0O-an increase of
5000 ,346 This is indisputable, for the loan was
announced by Mr.. Jay Cooke entirely exhausted on
the 26th u without reservation 1t may be- however,
that sales Of cotton and gold Offset in some way this
discrepancy in the official statement which we have not
yet seen The details of the present statement tee
graphed compare thus with those of the last statement
dated May 81 but the tccgaphed statement not itself
consistent in its ngures:-
Nay 81. July 81.
Debt bearing in
coin. 81 los lIs $40 1Us6626 Inc ss799OOO