The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-08-29
FINANCIAL AND CONNER GAL.


MONDAY, August 2s-6P. NJ,
The first Of the ten O'Clock sess of the open board
took place this morning. when IA moderate amount OF
business was transacted the following prces:-oid
ave-twenhes l0e5s, Erie s7%, Hudson River 1922,
Reading 1855, Michigan Southern CAS-, Rock island
loSgs Fort Wayne 81. AT the first Of the regu
lar board the market dull but steady Michi
gan Southern closed q higher than at the first board OF
saturday, Rock Island 70, Prairie du CHEN IA, Quick
silver Il Eric and New York Central were unchanged
Reading was b lower Cleveland and Pittsburg b. Obi
and Mississippi certificates y
Governments securities firm at Saturdays prices
One year certificates advanced r. Fvc-twenties of tn
old sold 1864 The latest London adviccs repor
the latter 6S u the nth inst and IS the 18th
AT the open board at O'Clock the market wa
about * per cent lower. AT the second regular board
was dull but steady Erie closed Y lower than at the
hrst board, Reading y, Cumberland *, Quick silver -
Rock Island and Ohio and Mississippi certificates I'M
changed Cleveland and Ptsburg was - higher North
a. Government securities inactive Coupon
ten-fortes declined Il.
AT the open board at halfpaS three the
market was heavy and prices underwent further reces
sion New York Central closed the call at 92s Erie,
$685.; Michigan Southern "a Illinois Central (s3),
l22X; Cleveland and Ptlsburg, 7OT Northwestern,
preferred 621<: Ohio and Mississippi certificates, 47a
Cumberland A.
The dcrresson in the stock market this afternoon is
attributable in degree to the sales made at the
close of last week by the leading member OF the Erie
bull CLIQUE The supposed to have consisted ot
large portion of the stocks Erie excepted which were
thrown uon him by the Kochum and Graham failures,
and some Of these fell into the of weak holders
day The object of the Broad street party in buying
Erie while they are selling other stocks is to sustain
o. cnst ofc
Moreover leading member of the clique referred to
is preparing ~ forfy his position with view to re-
election the directory o; the company The books Of
the latter II is stated will be closed the 10th Of Sep
TENDER preparation for the election the precise time
of which is yet fixed. That prominent director OF
Of most important lines Of railway, who habtu-
ally makes it his business to manipulate the stock OF his
company Wall street. should have his reelection
opposed by those OF his codrecto not Of his own party
is hardly a matter for surprise
The petroleum stock market steady at the first
board the chief activity being in Tack and Pithole
Creek. The former closed the call at 39c. and the
latter at IS u.s. Webster sold at 81 75 Buchanan Farm
&c. Bradley (b5l SO 10, Cherry Run 23c, Hcydrick
81 60 Hcydrck Brothers 81 49, United States S27 &c.
Oceanic 9Oc., Oil Creek So co.
The gold market firm, but inactive. The opening
price was l4Sgs, from which there advance to
close TO Ia
The transactions in foreign exchange have been very
light but rates are steady Bankers ask 109x for thc.r
sixty day sterling
The easy condition Of the money market is reflected in
the statement of the associated banks for the week The
deposits show increase of 81 400 &C., and the legal
tenders Of So siS This indicates absence Of dis
the part of the country banks and others in the
interior having balances to their credit here 1t was
feared when the Kctchum suspension announced
that there would he rapid withdrawal Of funds from
this point owing loss OF confidence but the efforts
Of the banking and other financial institutions of this city
10 avert panic promptly seconded by those
elsewhere The most unusual feature in the statement
is the large reduction of S35s0,02l in specie This is
owing to some extent to the Withdrawals pur
chases in the South; but 1t Is also partly due to the
omission of some of Edward Ketchum's forged gold
checks from the count And it may be that the Clear
ing House endeavorine to check the practice which
has prevailed Of counting portion of the gold lodged in
the Bank Of New York twice. The banks Tow acknow
edge holding only sl60236l5 in specie The conserva
tive policy pursued both lenders and borrowers during
the week has resulted in decline of ST. 404 76 in loans
The motion for an injunction to restrain Sheridan
shook collector Of Internal Revenue from collecting
and MI Gilbert the assessor, from assessing the tax on
brokers sales made their account, argued
before Judge Nelson of the United States Circuit Court
mt Coopersiown Friday and Saturday last The Judge
reserved his decision.
There is general desire expressed in Wall street
that Edward Kctchum may suffer the due penalty
OF his crime and the course Mr.. Oakley Hall the
District Attorney pursued in prefcrring the complaint
OF forgery against him the Of private prose-
cutor Is highly commended The prisoner, the law
reports will show was remanded till Monday next for
examination The parties whose names forged are,
however sngulary apathetc with regard the prosec
tion and look upon subpoena a nuisance Wall street
men arc by the force of habit the Of gious
and only where important interests at stake they
disposed TO enter court Of law. Bet In of th:
kind something more than utter indifference might bs
expected.
The Chicago Republican of the 25th rcmarks:-
The money marke, remains without any features
to-day The demand, as noted in our last report con
tnucs good In fact active, and the market is reported
close and firm by all nearly ALL the leading discount
houses. The demand for money n mostly from specu
ators shippers and of grain. Good paper 10 dis
counted readily the banks at ten per cent but doubt
full securities difficult 10 negotiate on any terms
Our produce markets rmer TO day, aud there wa
good business done in the aggregate at improves
values.
The earnings Of the Marietta and Cincinnati Raroa
Company for the third week in August werc:-
Pass myers s,aa'o
Freight ......................... 300 lVVz
Mall express and telegraph. ........ LIS l,20
TOTAL. .fzZ,SzO t<SoS
The Chicago and Rock Island Railroad earned for tn
third week in August
1863. .......................... 1Ss5'
Increase. .......................... see:'