The New York herald., 1866-08-31
FINANCIAL AND COMMERCIAL.
THURSDAY, August 30-6 P. N.


THURSDAY August 30-ePM
The stock market has been sluggish and rather heavy
to-day and there has been some little "hammering"
done by the bears who selected Reading their main
target but without succeeding in forcing any material
decline This duness is not unusual Immediately after
holiday and there viii doubtless be increased activity
very soon whie the brokers and private operators
now country the street. the effect OF
present and prospective condition Of monetary affairs
must be more decidedly felt than it has yet been.
Thus far the stock MARKET governments excepted,
has not responded to the large disbursements of the
Treasury which have been going forward since the 26h
inst, and which have reduced the balance the Sub
Treasury here from SOC 007 229 the evening Of the
25th inst 10 ST, 2S4 this afterpoon Similar ds
bursements being made at the other Sub Treasures
and these have not yet had time to react upon New
York But the surplus of capital seeking employment
at this centre Is already swelling rapidly and loans are
made freely the stock houses four per cent win
exceptions 10 first class firms government coa'eras
at three The best grade OF commercial paper az tne
same time discounted freely at per cent
The remarkable which has taken place IN govern
securities OF late has not as We before observed
vet extended to railway shares, save in very limited
bu. as the causes influencing the course OF the
ono class Of securities likely to influence the other
namely. extremely easy money market-tnere 10
10 look for a similar movement in the latter also
Moreover the earnings OF all the main lines stretching
westward will be greatly augmented during the next
hree months by the transportation of the crops. The
Western money markets meanwhile likely TO be
better supplied with currency than they have been
similar any year since the suspension took place
as The fact the Treasury disbursements account
OF interest and principal due the 1st and 26h inst
will aggregate eighty millions goes TO prove; and
previous to the crop movements the Western money
markets unusually easy.
At the open board at ten O'Clock Erie sold at 737s,
Reading has, Michigan Southern S5h Illinois Central
I23N Rock Island ITO, Northwestern s6Tspreferred
6sh a ", tort Wayne 1861, Western Union Telegraph
6sh Quicksilver 491s, Spruce Hill Coal AZ. At the first
regular board New York Central closed lower than at
the same time on Tuesday, Reading l, Michigan South.
rrn n Rock Island q, Northwestern 14-preferred y,
Fort WAYNE 4, New York and New Haven u, Toledo
and Wabash "a Ohio and Mississippi certif ates ~
Cumberland *. Eric u higher, Western Union
Telegraph T. Government securities reacted from the
OF yesterday, but they were generally little
higher than on Tuesday morning. the exceptions being
coupon fvetwenties Of 1862 skies Of 1881 and seven
thirty the second and third series, which were
steady Fve-twenties Of 1865 we're higher, ten-fer
ties " seven-thirty notes of the first series s State
stocks steady.
Al the one O'Clock sessions the market was extremely
two board Erie closed lower than at the first regular
board, Reading u, Michigan Southern u, Northwest
ern k-preerred u, Western Union Telegraph r. Fort
Wayne higher, Missouri skies u, Tennessee
skies u. Government securities were heavy Coupon
fve-twenties Of 1852 we're h lower. ten-forties u.
At the open board at three O'Clock New York Central
sold at 103}1 ID. 81 Erie 73h Reading 1l4k, Marietta
and Cincinnati first preferred 42k, Michigan Southern
So h. Rock Island l09k, Northwestern 36h-pre-
fcncd esH Fort Wayne io5H, Ohio and Mississippi
certificates 2sx, Spruce Hill Coal an Cumberland AK,
Quicksilver 49 Western Union Telegraph g. Afterwards
he market steady the quotations quarter
Ave being under:-New York Central 1881 . X,
Erie 7sx u, Hudson River llsx lis Reading li4,l
aK. Michigan Southern s5K Y, Illinois Central l23
AK, Cleveland and Pittsburg 81 y, Cleveland and
Toledo ll5H ll8, Rock Island lo0x ", Northwestern
36k K-preferred 6SI Y, Fort Wayne 1854 y,
Ohio and Mississippi certificates 29k ~ Cumberland
ara Y, Quicksilver 40 a ~ Western Union Telegraph
6Tk S. Compound interest notes were quoted as
under according date at the counters Of the leading
buycrs:-June 1884, ii5H July, 1884, NAY; August
1884 1l4h; October 1854, ll3,; December, 1884 1l2h
May 1885, Il0,. August, 1865, 10s1 September, 1865
l0Tk; October, 1855. l07x.
Tho gold market has been as inactive as business on
the Stock Exchange and the prices declined from 14sS
soon after tho opening to 1477s ut two O'Clock
It subsequently, advanced TO 147s and finally closed
steady at that quotation There was moderate
borrowing demand which supplied at Lie y per
cent per diem in favor OF the lender Of the coin. The
telegram has informed OF the shipments from Eng.
iand in all Of f322, 900, little moro than million
and half Of dollars specie to the United States but
this Is consequence OF speculative transactions stimu
lated by facilities Tor operating afforded by the At
lantic telegraph and be followed by resump
ton OF specie shipments from this side which will be
all the larger because OF these speculative mporations.
Tho latter way indicate the condition of foreign
trade bat furnish capital for the bulls in gold by in
creasing the "short' interest.
Foreign exchange continues depressed, and althoueh
the drawing nominaily unchanged there is
surplus OF both bankers and commercial bills Offering
second hand Bankers bills at sixty days were rregu
lar and closed l06 4, and short sight at l07 u
The probability is that the foreign markets will be so
Ear glutcd by The heavy shipments Of securities that
the latter win result loss their exporters and at
present prices and Londsn the price OF gold and
the rate OF ex hangc considered, they only be
shipped at luse Az this juncture Is interesting to
survey the course or the market for tme past and
we therefore give the rates current for bankers ser
ling at sixty da, at intervals since the beginning Of Nay
last year
1868 1863
May l. ..... l99}, a f09t4 January 80. lO9L
June ....10ags 10 February l.. losi. 1885,