The New York herald., 1865-07-18
FINANCIAL AND CONNER clAL.
MONDAY, July 17-6 p. M.


MONDAY July 17-6P M
The stock market was rather dull at the hrst ooaro
this morning and there conspicuous matt III 'Peou
laton Erie closed ~ higher than al the nrst ooau on
Saturday Reading n Michigan Southern II, Northwest
ern Y Fort Wayne y. Cleveland and Pttsourg was S
lower Rock Island u, Quicksilver 8. Government
SECURITIES were heavy Coupon skies OF 1881 declined
Z ten n-fortes b, fvetwenties, new issue, o. Al 'he
omen board O'Clock the market was traction
lower AT second regular board there was further
weakening under sales to realize. New York Central
closed 4 lower than at the first board, Erie ~ Hudson
River Y, Michigan Southern q, Cleveland and Pttsburg
n, Northwestern a. Rock Island 4, Fort Wayne u,
Quicksilver "a. Reading advanced S Government
securities were a fraction lower Coupon hvc-twentes
declined u. Afterwards the street they were heavy
At the open board at half past three, the market
showed stagnation New York Central sold on the call
at 94h (s3) Ere SIX Hudson River 1851 lss) Read
ing 1857 higan Southern 635 Cleveland and Pitts
burg 67% Rock Island 106, Fort Wayne (b.3) 98H,
Ohio and Mississippi certificates 25H, Quicksilver 56I
The money market firm to-day at per
cent loans on government securities generally being
made at five and on railway securities at six
The statement of the associated banks for the week
indicates the prevailing in monetary channels
There is an In in every department
excepting that of the legal tender notes, which IS
S2485 O6a lower The deposits 81, ,694.9i6 larger
than they we're week. and the loans $3 l5892a The
specie is stated TO have increased 81, l,3l06lo; Dut
experience has already proven that the returns OF 'he
banks criterion of the amount OF gold in the pahk
Nearly all the banks have loaned or sofa the
greater portion the gold which they have on deposit
and they In all probability could not get II back II they
wanted it, These institutions promise TO pay four per
cent interest upon their deposits, which, in addition to
the government tax, is than they can do without
incurring extraordinary risks.
The discount line is dull and unchanged Commercial
paper the best grade passes at per cent with ex-
ceptonal transactions above and below Gold has been
very strong notwithstanding the slight advance in five
twentes abroad and although there is scarcity of
cash gold loans being made fat merely with five
per interest the currency. The tendency Of the
market de idcdy upward and this likely to be as
sisted by the ssles of the Treasury, which are far
In excess Of e receipts OF the Internal Revenue Depart
ment as well as of the thirty loan.
We have info nation to the effect that the Paymaster
General VIII Immediately make acquisitions upon the
Secretary OF the Treasury for three hundred and twenty
millions of dollars for soldiers pay up to the Is. of july
while the total outstanding obligations Of the govern
ment will probably aggregate about one thousand mil
lions Notwithstanding al the army reductions which
have taken place. there remain about six hundred thou
sand still the pay rol In addition it is stated that
there are abot eight months charter money due to
the owners Of toamcrs in the employ OF the Navy De-
partment. Under these circumstances there is pros
pect Of large issue certificates of Indebtedness
unpaid requisitions and of forced loan, in making
which the ecretary of tho Treasury would of course
have rely upon the next Congress to indemnify him
for exceedin his authority. Mr. hcCuoch will do well
TO publish monthly statement of the national indebted
regularly, and not cndcavOr to conceal, under
specious cologng, important acs to which the people
have undoubtcd right by act Of Congress and othcr
wise.
The opening pnco of gold was 142, after which 1t ad
vanced to l43 and closed ut l42X. Foreign exchange
has been dull but firm Bankers sterling has been sold
at 1Oss4 lO9 aud leading drawers ask 1925 with
little disposition - sell There has beca some demand
for bills from Ca ada induced by the low rates of ex-
change and this mas added to the abundance Of cash
gold the MARI t. The supply of bills has been in
creased THAI has been hitherto supposed by ship
menls OF securities 10 Europe speculative account
The Scotia, her last voyage it is estimated took out
In this three millions OF ivo- o-twenties.
There is uncertainty among operators respecting
the future of the stock market based chiefly upon
apprehensions OF active money Market but this is
needless, although there is probability of better do.
mand for loans. The stock market is very sensitive to
monetary Influences at present. owing TO the absence OF
any considerable outside rort and the bulls mistrus
hensive for the ha' there is only about ten mil
lions Borrowed on gold in tle whole market
The latest advces from europe quote lvc-twcntcs at
71h 72 n tho London mark with sales at II ~, and
report other importan. failure in the East India trade.
The Republic Fire Insurance Company OF this city has
declared div dend Of six per cent, payable 24;h
instant also scrip dividend Of thirty three and third
per cent earned premiums Of the past six months,
and AL interest dividend three per oustand
ing scrip
This Exchange Bank OF this city has declared dvi-
dend of Ave per cent, free of tax.
The Delaware aud Hudson Canal Company has declared
q semi annual dividend Of ten per cent
The annual report OF the C.c eand and Toledo Rail-
road contains the following finarc al statement
Gross earnings for the year ending April sos
Increase over the prece Ing year.......... 4l2,e52
Total amount OF expehses 3s
Net carnn for Ia ycar ............... s34, $50
Capital stec Jnrc I, l. 1o5j............... 46a0,600
Eonds outstanding ...........'........... Z2oo,Slo
Total Of stock and bonds So 9s1 ,4lo
Total number passengers during the year. $50 1T
Total number Of tons Of fret 4lO, ,40l
The Local business of the rond amounts than
the total earnings of the road five years ago from all
sources
The following figures compare the last weekly state
ment Of the New York associated banks with the
OF the previous week.
Loans .s2ls. 54io75 22i. .3s5, ,os2
Deposits. ts................ 1Vs, lg9005 200 420,2s3
specie. ................. lylO0,9yt 70 400 s4l
Letal tenders o29l9, .Vs W054.G@6
Circulation. ................ O,O0l,7H 9s5
The devations from the Of the previous week
are a. foiows:-
increase N loans I43 lO1
Increase In deposits s................... 222l 2!s
Increase In specie. ,2Dss45
Decrease IN 10. Al lenders 2, ,465 0U2
Incrca'ic In circulation. 240 III
The transactions al tho Clearing House for the week