New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-06-09
FRIDAY. June e-P. ".

FRIDAY. June e-P. NJ
Gold is weaker and closes 1885, after selling at l4li
nd 1881 during the day.
The stock market at the regular board was very sluggish
and the sales small Government securities were steady
And continue to have decided preference with investors
whether for long or short periods. The Railway share
Est is neglected except by clques and outside operators
see never lees disposed 10 try the hazards Of the street.
Money is easy, and stocks be carried with unusual
facility, but this is Offset by approaching hot
weather, the alarm felt about epidemic disease
and the dscredt which attaches TO several Of the most
,opular roads in regard to dividends The North Western
sh its $4,000 900 of stocks the Erie, with its $4,000
BOO and the common stock Of the Michigan Southern are
regarded as hopeless Of present dividends and not
aeemed safe places TO put money in until Autumn.
xhe present vitality is the result Of clique move
nents, and lower prices for them may naturally be
looked for at an early day. In some shares
there is hardly enough doing 70 make quotations
At the Second Board the market dull and after the
saIl was heavy on New-York Central and the North
Western Shares. Erie bid up to 63l, but declined TO
ri a62i with little demand The market closes dull at
quotations. Ohio Certificates 2 a2s2; Canton, $780,
Cumberland Coal 45I 46 Quicksilver, 81; Marposa IL
eI2; Msnposs Preferred, 2iS24l; New-York Central,
nIs9i; Erie, 62s 621 Hudson River, l1O0ll02 Read
ing, 1904 alO9l Michigan Southern, 79l979l; Illinois
Central Scrip 12 al2i Cleveland and Pittsburgh s2l
e@i; Rock Island 92i a922i Northwestern, 3ll aSi.;
North w estern Preferred, 6Oi aG0i Fort Wayne 96sa
Si.
Money increasing in ease, and at sac per cent Dor
powers are readily supplied. Prime short paper scarce
and saable at low interests low per cent for choice
rhort bis-but long engagements not in favor The
alarm shown at every rumor of trouble among the Ma
Rons Banks is very significant, and should teach borrow
srs caution 1t is well known that large majority Of
Ehese institutions live mainly upon their circulation, and
hat an attempt to make them redeem their notes in
eral tender would force them into liquidation by
For the present, Mfr. McCulloch has abandoned his
sHort TO bring about specie payments, and is the
lcading inAationist Of the day; but this cannot
last and borrowers must be careful and not
- too much expanded when be returns, as he must
TO the principles Of his Fort Wayne speech and his annual
report. The country cannot afford TO continue business
apon i1edeemable paper and successfully compete with
nations paying specie and 10 specie must return at
astant day The return by what route it may viii
cause great distress TO ell who debtors during the
process and are obliged opay debswb assets daily shrink
ing under the appreciation of paper TO gold The use Of
paper money BY the Treasury during the Rebellion was
desperate resort and It's cost has yet 20 DO borne by the
country.
Sackett Belcher & Co.. merchants, in difficulty,
one Of the parties having abseonded with large amount
Of the funds of the concern which stops to see where
stands The losses OF the retiring partner the results
" unsuccessful speculation.
Exchange is not so firm and COday bills more in re-
guest The London prime bankers, 60 days,
1904 1893; London, prime bankers, sight, l0llls;
Pans bankers long 5lI4 1910; Paris bankers, short,
h06i a5O5; Antwerp 5l2I 05Illi Swiss, 512I G5IIi
Hamburg, 379Sy7i Amsterdam, 42I ei2ii Frankfort,
o.; Bremen, 500 s0l; Berlin, a.
Injustice is done 70 Commodore Vanderbilt in connect.
ing his with the recent financial Of the
Erie Railway Company. Although paraded to the public
a. member Of its most important committee, under
stand that he does not consider himself director at ALL
In July 1865 when dividend under debate, be stated
that upon the balance sheet dividend could be shown
ard that be would resign if made. His resigna
non was placed In the hands Of the Board and has since
been accepted but al the last election against his
ssai DO Ess again chosen There are other names Oh tho