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

active on the OASIS Vi lu5>s llO lor oahAoiS os -
England at sixty days, and 11lls y at short sight
On the Stock Exchange the railway speculation showed
increased strength and prices advanced with two or
three exceptions Erie was largely dealt in and well
supported while the stock in such active borrowing
demand that Il per cent in many instances paid tor
the loan of it, Reading and Fort Wayne were strong,
but Michigan Southern was barely steady not
withstanding its largely increased earnings, as
compared with those Of asst year. The whole
market however, appears "a be rising, and the
strongest argument in favor Of rise Is that based upon
the advance in gold which has lowered the specie value
of every stock the list and in order adjust prices
upon their former basis with gold at $780, rise of4a 10
per is necessary in all the leading railway shares
1t will moreover be surprising If with the prevailing
monetary ease something approaching this does not
take place.
At the early session Of the open board the market vas
hrmhut dun. Erie, after selling at the Fifth Avenue
no'ei ia~t evening high 65A, dealt in at u
u. New York Central sold at 9Sx, Reading lo9%,
michigan southern 500, Rock Island 49, Cleveland ana
Ir'tsourg 90 Sss, Northwestern 2S1 T-preierred
% ~ Canton 59TS, CumberI,nd Al Marposa preferred
24H. At the first regular board ME market steady
New York Central closed x hghs than at the half-past
two board yesterday, Erie IL, RICK Island u, North
western preferred u, Fort Wayne X, Cumberland 1A1
Reading was u lower, Cleveland and pttsburg y, Mis-
Sthte Skies seCuNtleS WcIb Will.
out change
At the one O'Clock sessions the market was quiet but
firm. At the past two board 1t somewhat irregu
lar New York Central closed higher than at the first
regular board Rock Island n North western 1-preferreA
IL Ohio and Mississippi certificates q. Erie showed
decline Of ~ Michigan Southern a. Illinois Central <,
Cleveland and pittsburg a. Fort Wayne q, Cumberland
u, Western Union Telegraph l. Government secirities
dull but steady, excepting coupon five twextes Of
1862 which declined X.
Al the half-pas three open board prices were without
material alteration New York Central sold at esq., Erie
6S% 6ih, Reading 109X, Michigan Southern 1917,
Cleveland and Pittsburg S4H 81, Illinois Central 1884,
Northwestern 3ok S-preferred 60h Canton CO. Cum.
berland 4sA y, Quicksilver 5l1l u, Marposa pre-
ferred 241s u. Afterwards the speculative feeling
was IN the ascendant and the market closed strong the
quotations at half.past five beng under New York
Central 9sH n Erie 651s u, Hudson River 110H
bid, Reading 1907 11OH, Michigan Southern 1871 a
So Cleveland and Pittsburg s4I 4, Rock Island 90
b, Northwestern S0s 31-preferred COS 81, Fort
Wayne 97T 9sH, Canton SO bid Cumberland 46,s
quicksilver 81 Western Union Telegraph COZ a ~.
The supply of money available for employment the
Stock Exchange is increasing and looms have been made
freely at six per cent with exceptions at Ave. Some Of
the banks are encountered with national bank currency
and this they have been willing loan at the lower rate
on railway colaterals. The demand from the stock
brokers is, as yet, rather light but the increase
owing TO the augmenting volume of business The
discount line fairly active and first class commercial
paper quoted at per and for the second
grade The disbursements Of the sub-Trcasury are still
going forward and the balance in tho hands OF the Sub
Treasurer has decreased to $83, 491,6 12
Petroleum and mining stocks were generally steady
AT the first board Bennehof Run Oil closed l5c higher
than at the same time yesterday Atlantic Pacific &c.
Rocky Mountain loc., Excelsior Copper &c. United
States was 20c lower At the second board United States
closed SOC lower than at the first board selling - CO.
Consolidated Gregory Gold 15c higher selling at
$40 S. Bennehor Run Oil sold Mt 81 25, BennehoG
Run Petroleum sl2 80. Rynd Farm Gle, Atlantic and
Pacific 81 90, Gunncl Gold &c., Holman Gold, 36c.,
Smith & Parmclce 50 Is
Tho financial gloom and distrust prevailing abroad
have inspired persons this side OF the Atlantic
with vague feeling Of dread and insecurity which
entirely unwarranted. Because revulsion has
been experienced in Europe they fear that similar |
revulsion may be felt here and therefore assume an
attitude Of preparation for the But there is less
danger Of financial revulson In this country than
there before for the simple that
on paper money basis without making any attempt |
10 materially contract the currency, which Is still being
sweled by the national bank issues. Our money
ket is practically beyond the influence Of transatlantic
monetary affairs and had II not been for the njudcious
sales OF gold by the Treasury II would have been in
nowise disturbed by the recent panic In England,
although the latter almost unprecedented in
ity Had we been, however n specie basis all
the banks In tho country would have had TO
suspend payment and herein lies the difference between
normal and present position, which is
IL possibly could be from foreign influences
The public debt statement for the month Of May has
lust been published and shows the following changes-
Increase debt bearing interest So 1872 $50
Increase debt which interest has ceased 4022 100
Decrease in debt bearing interest in currency 38
Decrease In debt bearing no interest. 361, 152
Total decrease In debt. ,oSI,42i
The legal tender notes have decreased SIS 000 but
II must DO that these have since been rap
Idly paid out The amount In the Treasury Juno Is
stated TO have s2s os2 but the balance in tho
Treasury hero this evening less than eghtythree
aud half millions, and is fair to assume that pro-
poronate decrease has taken place In the Subreasurcs
elsewhere. II will be perceived that the amount OF coin
In the Treasury had decreased $25 $50 compared
with the returns OF the preceding month, while the
amount OF currency had increased $l7, zoo, 504 The
totals Of the last two statements stand thus
NdyL yuneL
Debt bearing interest In
coin ............. 81, 1856 0o2 Sal LIDS, s25 19l
Debt bearing interest In