The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-07-18
FINANCE AND COMMERCE.
OFFICE OF THE EVENING TELEGRAPH,
Wednpsli,p LnlX IL 1865.


The Stock Market opened very dull this morn
ing, but prices are without any material change.
Government bonds, as we have noticed for some
time past. continue in steady demand. New
5.2Os sold at 1861, and 6s of 1881 at 1O94 80
was bid for 10 40s; 107 for old 5-20s; aud 1914
for 1905. State aud City loans are also in
demand. Pennsylvania 5s sold at 924; New City
6s al 81; and municipal a, 81.
In Railroad shares there is very little doing.
Pennsylvania Railroad sold at So; Mlnehill at
So; and Camden and Amboy at 1873; 81 was bid
for Norristown; 55l for Reading; 375 for North
Pennsy lvania; 62l for Lehigh Valley; 80 for
Elmira common; S5l for Catawissa preferred; 81
Tor Philadelphia and Erie; and AL for Northern
Central.
In City PASSENGER Railroad shares there is
nothing dong. IS was bid for Second aud Third
So :or Tenth and Eleventh. 80 for Thirteenth and
Fifteenth; 3s for Spruce and Pine; 1ss tor Hes
tonville; 13 for Ridge avenue; and Il for Union.
Bank shares ale in good demand at full prices
but we hear of no sales. 225 was bid for North
American; ll2l for Philadelphia; 1864 Tor Far
mo1s and Mechanics; 81 for Commercials; 81 for
Northern Liberties; 100 Tor Sorthw watk; SO for
Grard so for Western; Cog for City and 40 for
Consolidation.
Canal shares are firmly held. Susquehanna
Canal at l51l5!, an ad vance of 4. q was bid for
Schuyllill Navigation common; 355 for preferred
do; 574 for Lehigh Navigation; 120 for Morris
Canal preterred; and Sc tor Delaware Division.
Quotations of Gold-l0 A. NJ, 1901; IL A. NJ,
1493; IL NJ, 1901; P. NJ, 15O.
The New York Herald this morning says:-
Judge Nelson has, a. ter. as usual, long con-
sideration, delivered another decision on the
subject of The tax on brokers' sales. In the
present case an Injunction mad been granted as
before, restraining the Collector OF Internal
Revenue from collecting the tax on sales from
parties holding bankers license. We have
| not seen copy OF the decision in full, but
| from q telegraphlc summary we learn that
| Judge Nelson holds that persons doing Ousi-
| ness under a bankers license may transact
| the business OF both banker and broker under
1t, and that where the business of banker and
bl oker is done, and purchases and sales OF stocks
are made by the broker Tor his own account he is
moi liable to pay a lax upon sNch transactions;
| also, that banker may advance money on
| stocks and sell them to reiHlburSe his advance
| and not be liable to the brokers' lax; further
| more, that person doing business under a
| bankers license as broker is liable to
pay the brokers' tax on all such transac-
tons, and that purchasing stocks and selling
| the same in HIS own name without dis
closing the name Of his customer and paving
| his own money for the stocks so purchased rem
| der him liable to the brokers' tax. 1t is diff
| cult o reconcile the latter with the former part
of the reported decision in the absence Of COPY
OF IT; out AT hrst slght IL looks as II the Judge
| exempted all the bankers although dong blsi-
| ness brokers, from the operation of the law,
| but that he has mucted the brokers pure and
| simple, whether holding bankers license or
| not, in the tax. And who IS TO be the nudge {?
| We shall, however discuss this more at length
| when report in tull comes 70 hand. Mean
| while the imperfect wording OF The law and its
| inequality as construed by judge Nelson are
| clear enough"
| The New York Tribune this morning says:-
| "Money continues abundant to stock houses
| at per cent, and the amount Of idle capital
| continues to accumulate. Commercial paper
cont nues very quiet, and Is quoted at 5066 per
! cent. Tor frst-class names.
| "Serling Exchange i stronger The news by
| the PeTe'Te has had the effect OF strengthening
| exchange. Sterling bills are negou lole at l0g}
| per cent. above the rates offered yesterday. The
| following are the prevailing quotaions:-Lon.
| don, prime bankers, 60 days, l09@l094; London,
| prime bankers, sight, ll040ll0i Paris bankers,
| long, 5'll4@5l0; Paris, bankers, short, 5'O74;
| Antwerp, 5'l5@5I25; SWISS, 5'l515l2t; Ham
burg 374@37a; Amsterdam, 41i@42; Frankfort,
| 43@438; Bremen, 790793; Berlin, 74l@74S.n
| PHILADELPHIA STOCK EXCHANGE SALES TODAY
Reported by De Haven bro. No. 40 s. Third street.
| BEFORE BOARDS.
| 100 sh Reading Railroad. XXI