New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-06-12
oPEs BOARD OF BRoKERs-3l P. NJ.
MONDAY. June LII. N.


Gold is lower closing at i4Oi after selling at 1871 l4O
esstsg the day
government stocks strong at Saturdays mates, with
nesarate sales. State bonds, Railway mortgages and
Dak shares steady In the small stocks little doing
except in Boston Water Power, which sold at JdJO In
Railway shares moderate business Enc upon the En-
gAsh rushed up to 6i but sOon fell to 6i and
sesed at Gil 62 The sales of Railway shares small
JAs1e plainly want Of buyers at anything above cur
vsat rates. and the bulls will probably be obliged
- carry their loads all Summer or submit TO
Q loss. After the call the market dull,
ana at the Second Board showed no improvement in
psses or demand. Erie offered at 59 seller 60, with
sas success The market closed heavy at the following
Hsstsons: Ohio Certificates 2S c2s2; Canton $50 95st
Cumberland Coal 45d46i Quicksilver, 5lI 95li; Mari
Sssa Preferred, 23iS2i New-York Central, 97ia97i;
Aie, 62962i; Hudson River, 1904 ITO; Reading,
aesal09li Michigan Southern, 79la79i; Illinois Cen
arsl Scrip, 100; 1901 Cleveland and Pittsburgh, 49,
0833; Cleveland and Toledo iO43 aO5 Rock Island 92
esq; Northwestern, SOia3Ol North Western Pre-
sbned, 60a60t; Fort Wayne, 96ae6i.
Exchange is dull, and buyers asking lower rates.
The quotations are: London, prime bankers, so days
De9f9l09i; London, prime bankers sight, no. aill;
Paris bankers long, Sill; Paris bankers short 5O7I;
Antwerp, 5.l2I a5.llI; Swiss, SIP! 05.li Hamburg,
Eisaii Amsterdam, 49, Frankfort, 42i; Bremen, 80;
Berlin, 733974.
Money is offered TO stock houses in large at per
cent and made up with much Ia Com
ercia paper there is moderate business and low rates
ere accepted for prime short bills The speculative de-
naSd for capital small, and there is disposition
song stock operators to make large engagements any
direction.
The FIVE per cen; funding scheme TO have passed
entirely out of sight under the European complications
which killed of the small vitality the bill had when first
49,. 1o-b -
changed at small premium for about all the compound
nstes the temporary loans, and good many millions of
Saain legal tenders; and Mr.. MeCuloch should get to
cork IN this direction under existing laws if
aseessaY he will offer proper terms for the capital
seeking short employment he put the affairs of
Che Treasury in order and the same time force the
excessive circulation OF the National Banks home 1t
argued against the policy Of making them redeem, that
ct would force them by into liquidation and food
the market with bonds held security for their crcua-
Zion. This 10 no objection, but a good reason
Why the currency should be brought back to soundnss If
the Government could by compulsory redemption wind
up the banks of circulation and substitute for their ire
deemabe promises plain legal tenders, and at the
ne cancel equal amount of god-bearng stocks held
security it would be service TO the people by giving
superior currency, and to the nation by saving interest
upon its debt. The gold interest paid the Nation
q Banks upon bonds held security for
Dstes, is gratuity the Treasury i'll AFFORD
end should now be stopped The National Bank notes are
not good legal tender and greater damage to
the business Of the country than the circulating Treasury
sotes into which they should be exchanged 10 save
taxation and for the protection of bnl.holiers This
policy Of depving the National Banks of their now ex
esssve Poyerto issue circulation practically iredeemabe
n serious matter and would bring grief an army Of
spectators and traders upon borrowed money but il would
Dc TOT The benefit Of the people at large and long step
toward specie payments
The specie OF the banks has fallen OF s6O36 400 with
m increase in deposits Of o. and Of legal tenders
o. S4S,e". The banks have superabundance of
national Bank notes. and we hear of cases where $500 900
~ $4,000 was loaned fOy eight days Of -four p cent