The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-08-15
FINANCIAL AND CONNER CiAL..
TUESDAY, August l4-6 p. n,

Business in Wall has been somewhat unsettled
% day by a temporary depression on the stock ex-
change which however soon followed by strong
reac.ionary tendency The mopotony Of the gold room
was at the same disturbed by cable Telegram from
Europe to the that Prussia had formally declined
70 comply with the demand of France for an extension
OF her boundaries the Rhine and the price rose 10
1901 after opening at l49}S and selling down la9K
The borrowing demand at tho time brisk, and
loans made at Lilo per cent per diem In
favor OF the lender Of the coin.
The aspect OF affairs between France and Germany is
rendered all the threatening by reason Of the
peremptory refusal OF Prussia the Rhine terri
sorry, and the somewhat pacific tone Of the Aoniteur
affords indication of the purposes of the French EN-
peror Tho latter knew Of the sentiment Of not only
Prussia but all Germany, with regard to the Rhine,
when he for the cession of territory which threw
Berlin into state Of agitation; and Prussia, in
plying, knows that according to the Napoleonic idea,
the natural boundary of France side is the left
bank Of the Rhine. Napoleon would hardly have
ventured TO make demand without being prepared to
enforce IT, Prussia have refused it without being
prepared for the alternative. Hence French
threatens. which neither Austria Italy will
probably be able to take part in for Austria however
bitterly opposed 10 Prussia could act in opposition to
the national sentiment, and her crippled condition.
financially otherwise would prevent her doing much
service 10 France ally in any event. while Italy is
too much involved with Prussia to espousc the
of her enemy and would have to
neutral Should the threatened war take place,
the immediate result would be extreme
depress Of the funds every country Europe
fresh panics would follow upon those which have al
ready tasen place. The first effect OF such state Of
things wold be here in further considerable ad-
il tec gold premium, accompanied by a demand
for Tor boarding This would DO the result Of dis
NJ fptt pnfou 1aU piatp
cause; but = would ultimately BIO followed, If the war
prolonged, by largely increased exports OF bread
sufs make up for the deficiency caused by the with
drawal of European laborers from the cornicd the
battlefield
Thus the exchanges would gradually be turned in
favor buc meanwiis, of its scarcity gold mgat
TO double It's present premium for the immediate
result % war on SO large scale would be TO close
markets Esrope and thereby stimulate
already enormous import trade With regard 10
there is every probability that in the midst of
the disirls Of other securities Europe they would
increase IN popularity, but meanwhile iive-t~enties
nigh; be returned to US freely rs at the
outorea> Of the Prussan-Austran war. Our foreign
creditor TOO, acting upon natural but not always wise
impulse, volld be to extent pcremptory in their
demands upon for payment, and we should havo TO
ship gold TO meet them. We should in Other words
reap the III Effects OF tho first and the good after
benefit than injury from great continental war; as IL
would stimulate agriculture at home, which Is much
needed.
the carly OF the open board tho market
dun and barely steady New York Central sotd At
i04k u, Erie esq, Hudson River 12ox a TO-
Reading 1884, Michigan Southern $50, Illinois Gen.
trail 12l7S, Cleveland and Pittsburg 81, Rocf Island
1867, Northwestern 36h-prercrred CTS al Fort
Wayne l0sis q y, Western Union Telegraph "a.
3, 56h. At the first regular board there was
pressure to sell Fort Wayne, which is supposed to
have from the bull clique in the stock, wit Wow
TO breaking tho entire Market and enabling them to
buy at the decline with certainty OF upward
ton immediately following. Reading, however, re-
snaneI firm, closing x higher than ut the half past two
board yesterday; Quicksilver u. Michigan Southern
closed 4 lower; Northwestern preferred ~ Fort
Wayne IL, Cumberland H. Government securities
wore rather heavy. Coupon hve-twenties of the lrs
and third issues declined 4.
Al the one o'clock sessions tho market lower but
iess weak than it had boon just previously. AT the
ha-past two board quiet, but developed strong
recuperaiive tendency New York Central closed u
higher than the first regular board, Fort Wayne "a
Tennessee skies ]. Erie closed Il lower, Reading a.
Michigan Southern 4 Illinois Central u. Rock Island Il,
Northwestern Apreferred u Ohio and Mississippi cert-
6catcs 4. Government securities neglected. but in
two light transactions thirty notes showed ad
vance Of -.
AT the three o'clock open board the market continued
10 improve tone, but prices were steady Erie Is y sold
nj ss catawssa 79k Michigan Southern So a,s, CIeve
land and Ptsburg s6ss, Rock Island l059t Northwest
ern SO a 35ys-preferred 81, Fort Wayne 1885 lo?,
Ohio and Mississippi certificates 291 Tennessee skies
go Afterwards the market closed firm, and
tho quotations at half-past five were as I'M
dcr:-Now York Central l04Ss a, Erie eos
y, Hudson River 40 a Reading ll3,s y,
Michigan Southern s5% q u, Cleveland and Pittsburg
s6L 4, Rock Island 1864 -, Northwestern SO -
preferred 67,l Il, Fort Wayne loi,S =, Ohio and
Mississippi certificates 2e1i 60.
Tho money market extremely easy at per
cont 10 tho Stock Exchange. The exceptions at arc
still only made weak parties and the supply OF capital
Il In excess OF the demand The discount line y but
lightly supplied and the hes, grade OF commercial paper
n In request at 5a6s per cent with exceptions for
long dates at 4 The Sub-Troasury will to.mor.
row commence the disbursement OF $40 1850, 900
as interest the half year the frat series Of
thirty II is further semocially announced that
the Treasury viii shortly pay on It's nyo per cent tenn
r0rary deposits which will add still further to the ease
or the money market for long time 70 come.
Mining stocks dun Al the fret board Atlantic
and Pacific closed zoe lower than tho time yes.
terday selling atsl So At the second board Downie.
viii gold closed &c lower than at the hrs, board selling
atsl - Altona sold at :2, Benton 81 So H. -. Cory
don 81 IS New York gold 81 80 Rocky Mountain
az %.
The foreign exchange market was quiet but Grin.
Bankers bills England al sixty days closed at 107a
los, three days 1os% 100, commercial 1885, iO7,
bills on Paris at twenty days Or 81 Sc. Sc 2sllc 81
IKE 81 zoe.
The quotations for American securities the London
Stock Exchange were as under on the dates men.
toned -
AUgun0 AugpE tugav Is.
COnsos. .... STH 81 s7T
U. :. Sos. 6sI 6sI GS4
Erc......... A3L 421
Illinois Cent. IS lox div 70 lex. diyl sd9s lcx dy.l
urm ynr. crary ryru,uer