The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-07-24
FINANCE AND COMMERCE..
OFFICE OF THE EVENING TELEGRAPH,
Tuesday, July q, 1866,


The stock Market, as We have noticed for
some time past, continues very duh. but prices,
with one or two exceptions, are steady Rail.
road shares are the most active on the list.
Reading sold at 54I@54i, the former rate a de.
cline of ! on the closing price last evening;
Minehill at 55, no change; Pennsylvania Rail-
road at Sc, no change; Philadelphia and Erie at
3lb, slight decline; and Catawissa preferred at
37I@37}, decline of /; 1913 was bid for Camden
and Amboy; IS for Norristown; 37I for North
Pennsylvania; 81 for Lehigh Valley; 30 for
Elmira common; So for Philadelphia and Balti-
more; ana IS for Northern Central.
City Passenger Railroad shares are without
change. Thirteenth and Fifteenth sold at 81,
and Chestnut and Walnut at 55. 1874 was bid for
Hesonville, and 424 for Union.
Government bonds are rather 6rmer. New
5-2Os sold at 1861, slight advance; and 1905
at 1888. 9s3 was bid for 1O-4Os; IOs5 for 6s of
1881: and 1868 tor old 5-2Os. City loans are in
fair demand; the new issue sold at 979 an ad-
vance of /, and old do. at "a, no change.
In Canal shares there is nothing doing. 262
was bid for Schuylkill Navigation common; 34l
for Schuylkill Navigation preferred; 100 for Nor:
lis Canal preferred; 57t lor Lehigh Navigation;
and IL tor Susquchanna Canal.
Bank shares are firmly held. Mechanics sold
at 9l5. 225 was bid for North America; l42 for
Philadelphia; 1878 for Farmers and Mechanics;
"a for Commerclal; 81 for Northern Liberties;
100 for Southwark; 95 tor Kensineton; "a for
Girard: 65 for City; 40 for Consolidation: 50
for Commonwealth: and 644 for Corn Exchange.
Quotations of Gold-1O A. NJ, 1909; IL A. NJ,
1909: IL NJ, 1909: p. NJ. 1914.
The attention OF those interested is called to
the notice OF u meeting of the Willow Glen Petro.
leum Company, which will be found in our
advertising columns.
The New York tribune this morning sa7s:-
"Money is more abundant, and from the pro-
ceeds OF one-ytar certificates banks are supplied
with more currency than can be readily used, at
per cent. The bank statement shows de-
crease of loans OF So, los, ,4l6, OF specie ST. SOL 537
and OF circulation OF S225, l52. The deposits are
at S5,S59,O35, and the legal-teDders are at
S4,93S,0l5. In commercial paDer there is no
material change. Best 70 good names sell at 50
6per cent.
'In the case of the Kentucky Marine and Fire
Insurance Company against the Security Fire
Insurance Company, the defendants demurred
TO the petition on the ground that it set forth an
oral contract OF insurance, and that the plaintiffs
under their charter, had no power to make such
kind Of contracts. Chancellor Pirtle decided
that oral contracts OF insurance were legal and
binding, and that there was nothing i'll the char
ter OF the plan tts prohibiting them from making
them, and that such a contract gave the plaintiffs
the right to protect themselves from loss by re-
inS1Ting with the defendants, and, therefore,
overruicd the demurrer to the petition, to which
the defendants excepted, and then filed their
answer"
The New York Times this morning says:-
1.-THE bank statement points to increased ease
in the money market. The loans have Iallen off
in consequence OF the reimbursement of the one
year Treasury ceruhcates by the Government,
and the legal.tender notes on hand have gone
up nearly five millions. The specie deposits fall
Off 81 ,59l 900, and the currency deposits gain
81, ,450, 900, making the ne. increase on the
general line Of deposits, $5,859,O00 Some of
the leading brokers are again Offering money on
call to-day at per cenV., and the prevailing
rate, so far as money is wanted at all on stocks,
is about per cent. Prime short paper is 5401
per cent. per annum. The stock exchange
was inactive to-day, including Government secu.
rites, which adds TO the dulness and cheap
rates of money"
The Cincinnati Gazette says of financial
Affairs in that quarter:-
Exchange was shade weaker again to-day
and the improvement noticed yesterday was
almost entirely lost. We quote lilo discount
buying and par selling There were some trans
| actions at fifty discount buying, and The same
| selling, but these were exceptional. The money
| market does not undergo any material change.
| Currency has been coming in from the East
| and sparingly, through mercantile channels,
from the interior; but IL Is sent quite rapidly
into the country, partly in payment for bills
| drawn against wool shipments, and partly in
| exchange for Government securities, so that
| there is no accumulation of balances in the
hands OF bankers, and the means are therefore
| no more than sufficient to meet a moderate de-
mand for discounts. This causes the market to
| Work close, DuI dt INC sdlue GlIne nOluerS OF
| good paper experience no difficulty in having
| necessary wants supplied at rates within the
| range of 8@l2 per cent.-l0 being fair quota
ton for acceptable names in the open MARKET"
The New York Gold Room has adopted the
subioined resolution, which took effect yesterday:
| ''ResOiUed, That no member of this Exchange
shall, directly or indirectly, transact business in
| cold publicly on the streets or sidewalks or
| passages to the rooms of The Exchange nor in
the Fifth Avenue Hotel. Ary member violating
this rule shall be suspended from the privileges
| of the Exchange for thirty days. This resolu-
ton shall take effect on and after Monday,
July 49,"
PHILADELPHIA STOCK EXCHANGE SALES TO-DAY
Reported by De Haven 6 BRO No. 40 S. Third street.
| FIRST BOARD