The New York herald., 1866-08-24
FINANCIAL AND COMMERCIAL.
THURSDAY, August 2s-6 p. n.

av Notwithstanding tina. the inclemency Of the weather
was favorable duness, and Rock Island, Illinois Cen
tr4i and Eric especially buoyant Money less
in demand yesterday, owing the gold operators
having faly supplied themselves previously ane igst
class houses generally borrowed all they required four
per cent There were however, number of traasac-
,ious a. Gye, and few exceptions at six per The
supply OF capital will be abundant after the 26th
inst when the interest on the FIVE per cent Temporary
deposits ceases First class commercial paper is
quest 8 per The disbursements OF the Treas
ury tine payment Of interest tho seventhiry loan
due on tho LIST nst and in redemption Of the tempo
rary deposits referred TO- will probably aggregate
than $50 00o but owing to the imperfect character
of the national debt statements II Is impossible 10 anne
tue precise figures. IL is significant Of coming glut
that the balance in the SubTreasury this evening has
increased nearly So, 900, 900, gold included.
At the open board at ten o'clock New York Central
sold at l0i, Erie 73H Michigan Southern ts 81 s5h,
Illinois Central l2 Cleveland and Psburg S5A. Chica
go, Rock Island and Pacific l0s, Northwestern 36S-pre
fersd 671z, Fort Wayne 104a4; Western Union Tele-
graph IS n Spruce Hill Coal AZ. At the first regular
board the market strong with Illinois Central, Rock
Island and Erie leading the upward movement Erie
closed higher than at the Same time yesterday, Read
ing 1H, Michigan Central "a, Illinois Central TX, Clese
land and Pitsburg 81 Rock Island a. Northwestern NJ
preferred q, Fort Wayne II, Toledo, Wabash and West
. Alton and Tcre Hautc i4-preferred lsl cumoer
land "a. Ch cago and ton SS lower Western Union
Telegraph <, spruce Hill Coal o. In government securi-
ties the transactions mainly confined 10 coupon dye-
twencs Of the original and third issues The former
scuay the dec of yesterday morning. but the
others were "a lower Coupon fortes Il lower.
Seven thirty notes inactive. State stocks
steady, Norih Carolina skies excepted which declined
"a, and NV York skies, which advanced Il.
Al the one clock the market firm, and
haIf ho, itsf fnpe
closed 4 gher than al the first board; Michigan Con-
tral H. Michigan southern "a, Cleveland and Pttsburg
y. Northwestern 5n--preis rred a. Alton and Ierrc
Hautc 1-pgefcrred u. Illinois Central was Il lower.
Fort Wayne a. Government securities dull
and rather heavy, owing to the continued drain
tho -mcnt holders desrous of real
izng high prices. A halt in the specua
tive movement the part Of the large dealers is the
consequence Coupon vc.twenties of the original issue
steady Sevenhrty notes of the lrs series we're
!. lower second series e.
Al The open board three o'clock Erie active
and advanced to II To- 81 New York Central solo at 1o3al
g. 81 Cleveland aud pitsburg "a, Illinois Central l231a
gcck Island l09%, Northwestern 36S sS-prcsered
6;Gs spruce m Coal 456 Afterwards the market became
stronger wish somewhat excited demand for Erie
which advanced To y, ard Increased inquiry FOR the
Northwestern stocks At five O'Clock the market was
steady, at the following quotatons:-Eric 74as u,
OSus'"'
Reading l15lE, Michigan southern s5s4 75 Cleveland
aud Pt;sbcrg IS 4, Rock Island 1O94 y, North
western 81 is-preicrred GSE a ~, Fort Wayne lo4I
o5 Ohio cad Mississippi certificates 29s 80, Quick
silver u e, Aiarposa preferred 2s's a 2sl4
There was continued excitement in the gold room,
and the scarcity OF coin for delivery even
eyr,,nc ,han yesterday, loans having been
made high rate as one per cent
pcr dion 10 favor OF the lender while were
N.f,~r a 80 tbo ruafat atinp Tba ratc m
two O'Clock w,ls ~ and il afterwards declined to ~
Gold was never SO scarce before and the APP
proach lie pres; borrowing rates took place tho
sh Of Apri when transactions were recorded ut a.
The opening price was l50s, followed by decline to
Iint. before hdpast eleven but tho inafkc. quickly
turned aud i5l before two O'Clock. IL then re-
ia.od 50i6, but recovered again rapidly,
aud closed stcldhy at 150a. II is evident that
strong combination has The market completely under
is ccatrol rud the demand for cnsoms duties can only
supplied price l. willing TO sell IT. This de-
nand IS raj her heavy owing the large mportatons
which are m being made aad the increasing activity o.
trade the requirements for customs duties at this port
today, Tor Instance, having aggregated SOFA oOo The
.shogi IN crest is the time enormous, both in
and OFT .. Vail street. aud Just the shorts''
are at orce the strength aud victims OF the
shu" consprators II is Idle TO dcnornce the latter,
however lor ,ner influence IS tslins. They find their
mate conditions in their favor they woala lose
money by th-.r operations. They merely anti
cipaiing and Temporarily aggravatng natural condition
OF the market which would only be made ultimately
BY The Treasury selling portion of its gold; for
in event, spectators would absorb all that the
governmen, disposed of and for;ify their
position accordingly. despatch from Washington puo
shcd this isaenoon says thai Secretary OF the Treas
ury has wisely decided to sell any Of his reserve not.
wiIhsianding the urgent appeals Of Messrs Brown
Jones Robinson and Company, who drcadrully
:" short of tho shining metal, and who extr ,mcly
rctve under yoke imposed by the present state Of
The market
There probability OF tho " corner being turned
before the end of this week but meanwhile the pro.css
of buying t. under tho may be freely ted 10
on account of those who have dcfaued In the dcliv
cries and they many, and this would involve
sharp risc o. perhaps thrre or four percent
A some persons Ia doubt upon the subject IS
well to mention the mportatons OF treasure from
California are almost entirely in the form OF bars and
that OF the large received by the last steamer
very small beyond that consigned to the Treasury
was IN CON.
Tho cable report the Bank Of England had reduced
is rate discount from ig per cent eScriod
no aprarcn, influence, but regarded as Teassurng
the Stock Exehango. In the foreign ex-
change market II wiu tend slightly 10
lossen thc difference between gSht bills aud those
drawn on sixty days The lai;cr were quoted this a.
tcrnoon al 10. i - while inferior signatures ruled at
IOG K 1917 short sight, 1879 loSts. The quotations
for cor sssd American securities in London, to-day
and previously were iollows;-
.f,gws' 20. Augns %. A,yr,s 20
Console s...............t..Sst, sSA SsA
United States tivc-twcuiies t'ls goa 20
lffe a
Illinois Centfal............sJa ~ ~
The eject Of ih- further reduction OF the Bank rate
will be TO promote confidence in the future of monetary
and commercial affairs in the United Kingdom, and viii