The New York herald., 1866-09-26
s,nAnc,AL AND COMMERCIAL
TUESDAY, Sept. 2s-e p M .


snd'minsno'' .,n,os in superaDundant supply a.
s"oAs -, with exceptions q, three ana nVe' iAe'.
~ ..oanh,e increase the supply OF oonne
nor onerng and the best erade passes ~ = -. 2.
-, ,,,,h exceptons at six for long da'es i"0
A. the nrst ffly per cent OF Oea'ue 'A'1'e s 80
a.a - dav but IL is probable that some o 'he oa'N
uI allow their deposits 10 rena'n :
,,,u they have an opportunity 7" snpV' ~
- ,oo.nwhue rsing the certincstcs Tor ciear'
,ns House purposes as oei''s 'o..,as how
SO ceased on th, remainder OF the cerun1a's' ~"
IN, he contrary 10 the spirit of the Treasury olr-
-, o.rdipc ,aern IL the Clearing House continues "
res, such in payment OF balances, and u IS harus v
be supp,ned at the banks will be aesirous VI pu'sus
.hs course TIE banks OF this city now hoio anu
nearly always hdd for two or three years pas''
larger reserve than required by law ana Is u'o,s
fore reasonable 10 infer that with the cessation
sst on these certificates efforts orsaSts Sls and viii lie
make upfor the conss6 the -, a,.,s.,u na.Ae"
:, ,,nl .s.aer dull. There was no special activity in
any OF the railway shares but Manposa preferred was
pressed sale and declined to 32 At the first regular
board therewas large and well distributed volume Of
business, md prices were well sustained Erie was
steady andquet at 751s and New York Central i07z
Reading obsed higher than at the time yester
day, MicBgan Central u, Illinois Central " Cleveland
and Toeo Rock Island q, Northwestern preferred X
n,
uichigai Southern was 4 lower Ohio and Mississippi
osrtihcss ~ Mariposa A-prcferred 2,s State stocks
were a. Tennessee State Skies, new, were active at
s2z4 advance OF ~ Government securities showed
smproment Coupon fvc-twentics of 1862 were x
bahe issue Of 1855 seven thirty notes Of the nrst
and tond series "
Ace one O'Clock sessions the market was firm and
Sut At the ha-past board Erie was steady at
shcosng price at the first regular board New York
ceal was y higher Hudson River "a Reading x,
Cpland and Toledo !, Rock Island u, Northwestern
ptrred H. Tennessee Skies, new, u lower
Frnment securities dull but firm. Coupon Ave.
Sa'ies OF 1862 and 1885 showed advance of n;
en-thirty notes OF the first SERIES 4,
It the open board al three O'Clock there was no ma
'a cnanse Id prices or in the temper Of the market
10 sold at 75a d. 81, Reading ll6a5 Michigan South
n s4H. Afterwards the speculation for rise had |
rm undertone, and at hali-past five railway
md other shares firm at the sub
ioined quotations New York Central 1919 u
Erie 7SH q ~ Hudson i2l% *, Reading ll67s a1ly
Michigan Central ia, Michigan Southern SAX s5 Hi
aos Cenraka2lh l22a, Cleveland and Pittsburg 81.
y, Northwestern 80 ", Northwestern preferred 6sf
) u, Cleveland and Toledo 1927 123, Rock Island
my ll2 Fort Wayne 1867 a ~ OHIO and Mississippi
Cersincaies 294 u, Canton 81, Quicksilver 52A Il,
Western Union Telegraph 56's o7 Compound interest
1lot4 y, August ll6H a. October ll5t4 " Decem
Der 1l4k u; May, 1855, 1l2X 49, August 1l1i4
4, September llO7l III, Oc, ober 11o4a \.
The sale Of the Ohio and Mississippi railway has becn
postponed by the trustees and the transfer books will
be closed until the 10th OF October special
meeting OF the holders Of certificates will be held the
occ OF the the LIST OF November 10 adopt
plan for the reorganization OF the company The agree
ncnt under which the trust formed requires that
Ia, .A..-lo
representatives Of the preferred and common certificates
shall be present and voting in order 10 act upon this
question.
The gold market remains Arm but free from excite
mont and the supply Of coin 10 equal TO the borrowing
demand. Loans to-day generally made nat and
lS2 3-64 in favor OF the lcndsr Thc opening price
l44S, followed by decline to 144A II recovered
70 144ss and remained at that point all the afternoon,
she closing quotation being l444 a. The "shorts'
have given up all hopes Of the Secretary OF the Treasury
anticipating the payment of the November coupons
yet OF his selling portion OF the Treasury gold. For
him either would be 10 commit bundcr calculated
70 excite suspicious, which II 10 both his interest
and his duty TO avoid. The larger the hoard
Of coin In the Treasury vaults become the better
will be for the public credit, aud any
interference with the gold market by the
government directly or indirectly promotes fluctuations,
and thereby disurbs values il should be left entirely
NJ McCuloch has given the country reason TO believe
that he is less familiar with finance than his
position ought 10 be- He has evnced almost total
Ignorance Of financial history, even that Of his
country, otherwise he would never have
uttered such crudites about an immediate resun,p-
sion Of specie payments az he did in his annual
report Congress and supdry letters and speeches
He has been manipulating the market for govern
mont securities In huckstering way through
g.. I.a. h..l Laa al.Y
show that he has any comprehensive funding scheme
In view In other words, he has developed good quail
lies for broker banker, bat none npg him TO
tro financial destnies OF great nation AZ, there
FORE about this time he must be preparing his second
annual report 10 Congress- seriously advise him TO
weigh well the important interests ntrused 10 bis ssfo-
kecping, and carefully road and digest tho financial his
tory Of England especially from 1915 10 1928, in which
he will the injury which indicted upon
that country by . forced return 10 specie pay.
menls We refer him in This connection 10
Ason's History Of Europe, asd every history OF
England embracing the period indicated, while
r the history Of the sssgnats he may turn With pron
70 laers' History OF the French Revolution BY care.
iu sauuS Of the fiscal history Of his own aud the two
0'hef nA'o- have referred TO he may produce re-
port whcn "" bs vast Improvement upon the last;
but rs perhaps y much 10 expect Ggs from thistes
The foreign ercnasvs market 10 strong, and prime
bankers bills on Ensa-' at sixty days are quoted al
to1a los, bills al three ,sys ioss 100; CONNER.
sai, 1oei4 slo7l.; bills on f-s at sixty days, o %
e22h; short sight 522s $40, on Berlin rhaiersl
ah on Bremen, TX 7sgi OF Frankfort sDs
soS; on Amsterdam, 40 ~ on Hamt,rg, SSh = s64.
The floating supply Of bills very light a tho tentsn.
ey OF rates is still upward although the demand il
limited Tho commercial Indebtedness OF tip country
20 E-ropo Is heavy, and foreign Imports continue 10
shcw an enormous prepondsrancc over the exports In
value
hining stocks continue firm aud active. Al the nrst
board Crozcr closed &C, higher than the time
yesterday, Ccrydon COO, Quartz Hill 2oc Hope Cold
zoo lower, Rocky Mountain 10, WAIKIKI Lead 10 Al ,hs
noooha BOARD American Flag closed e5c higher thar at