The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-06-06
FINANCIAL AND CONNER CiAL.
TUESDAY, June SIS p.

Foreign exchange was at The same time very irm ana
active on the basis of l09I ITO for bankers biis on
England at sixty days, and 1ll1s 4 at short signs
on the Stock Exchange the railway speculation showed
increased strength and prices advanced Win TWO OF
three exceptions. Erie largely dealt IN ana wen
supported while the stock was in such active borrowing
demand that u per cent in many instances paid TOT
the loan of it, Reading and Fort Wayne were strong,
but Michigan Southern was barely steady, not
outstanding its largely increased earnings, as
compared with those Of asst year. The whole
market however appears 70 DO rising, and the
strongest argument favor of rise is that based upon
the advance gold which has lowered the specie value
OF every stock the list and in order to adjust prices
upon their former basis with gold $780, rise OF 10
DER cent is necessary all the leading railway shares
II will be surprising IT, with the prevailing
monetary ease something approaching TO this does not
take place.
At the early session the open board the market vas
nrn'hut dull Erie after selling at the Fifth Avenue
hote lat evening high 65A, was dealt in at o.
~. New York Central sold at 9S%, Reading l0s&,
michigan south>rn $685. Rock Island 90, Cleveland ana
Ptttsburg s5K va Northwestern 2sal X-preferred
90 ~ Canton 597S CuAberI,nd A. Marposa preferred
24h At the first regular board Me market steady.
Now York Central closed y hghe than at the hafpast
two board yesterday, Erie IL, Rick Island y, North
western preferred u, Fort Wayne X Cumberland 1 III
Reading was u lower, Cleveland and pittsburg u, Mis-
souri, State 4. Government securities were with.
out change.
AT the o'clock sessions the market was Quiet but
firm AT the half past two board il somewhat irregu
lar New York Central closed 4 higher than at the first
regular board, Rock Island n North western 1-preferret
IL Ohio and Mississippi certificates a. Erie showed
decline Of IL Michigan Southern u, Illinois Central K
Cleveland and Ptsburg 70, Fort Wayne u, Cumberland
Ifnsn Tai ,tsac
were dull but steady, excepting coupon five twextes of
1862 which declined H.
Al the halpast three open board prices were without
material alteration New York Central sold at esq., Erie
6S% 641S, Reading loo4, Michigan Southern 1917,
Cleveland and Pttsburg sax 81, Illinois Central 1881,
Northwestern 3os S-preerred 60h, Canton CO. Cum
berland 48A Il, Quicksilver 81 70, Mariposa pre-
ferred 241s a. Afterwards the speculative feeling
was IN the ascendant and the market closed strong the
quotations at halfpast five beng under :-New York
Central 99h 4, Erie 65h a \, Hudson River 11OH
bid, Reading 1o9I l1OA, Michigan Southern 1917 a
80, Cleveland and Pittsburg s46 a Rock Island 90
b, Northwestern S02s 31-prefcrred 605S 81, Fort
Wayne 977s 9SA, Canton SO bid Cumberland 46h,
Quicksilver 50, Western Union Telegraph 6OHa4
The supply of money available for employment the
Stock Exchange increasing and loans have been made
freely at six per cent with exceptions at Ave- Some Of
and this they have been willing loan at the lower rate
on railway coaterals. The demand from the stock
brokers is as yet rather light, but the increase
owing to the angmenting volume Of business The
discount line Is fairly active, and first class commercial
paper is quoted at per cent and for the second
grade The disbursements Of the Sub-Treasury still
going forward and the balance in the hands OF the Sub
Treasurer has decreased to So, 49l, 6l2
Petroleum and mining stocks were generally steady
AT the first board Bennehof Run Oil closed 15c higher
than at the time yesterday, Atlantic and Pacific &c.
Rocky Mountain 1Oc., Excelsior Copper &c. United
States was zoe lower At the second board United States
closed 3Oc lower than at the first board selling at 81
Consolidated Gregory Gold 15c. higher, selling at
$40 65 BennehoR Run Oil sold ut 81 25, BennehoG
Run Petroleum Sl2 80, Rynd Farm 2lc, Atlantic and
Pacific 81 90 Gunnell Gold $780,, Holman Gold, Soc,
Smith a Parmelee 50 Is
Tho financial gloom and dstrust prevailing abroad
inspired persons this side OF the Atlantic
With vague feeling Of dread and insecurity which ia
ntirey unwarranted Because severe revulsion has
cen experienced In Europe they fear that similar
evusion may be felt here, and therefore assume
ttitude Of preparation for the worst But there Is less
anger of financial in this country now than
here ever was BEFORE for the simple that
n paper money basis without making any attempt
materially contract the currency which Is still being
Telled by the national bank issues. Our money mar
OF is practically beyond the influence OF transatlantic
oneary affairs and had not been for the injudtcious
,lcs OF gold by the Treasury II would have been in
owise disturbed by tho recent panic In England
Though the latter almost unprecedented in
y. Had we been, however, on specie basis, all
ie banks IN tho country would have had to
uspend payment and herein lies the difference between
ur normal and present position, which is
possibly could be from foreign influences
Tho public debt for the month Of May has
been published and shows the following changes
Increase IN debt bearing coin interest 30, 1872 $50
in debt which interest has ceased 4022 100
decrease In debt bearing interest in currency 3l8
decrease in debt bearing no interest. 36l, l52
otal decrease IN debt. II Al
The legal tender notes lave decreased SIS 000 but
DO remembered that these have since been rap
dy paid out The In the Treasury Juno I Is
stated si2s os2 but the balance in the
Sub Treasury hero this evening Is less than eghtythree
and half millions, and II is fair to assume that pro-
poronae has taken place in the Subrreasures
elsewhere 1t will be perceived that the Of coin
in the Treasury had decreased SIS 45o compared
with the returns OF the preceding month, while the
amount OF currency had increased &l7, T00,5 04 The
totals of the last two statements stand thus
A1y1 June l.
Debt bearing interest in
com.
Debt bearing interest In
& ". il i