The New York herald., 1866-08-01
FINANCIAL AND CONNER ciAL.

and Q further advance In railway shares took place
which was not however fully sustained. The tsndenc,
Of prices decidedly upward but slight reactions viii
occur at frequent intervals a. . matter Of cours
during the most active speculation for . rise
These reactions have Of late been less ire
qssnt than Usual, and large holders or stock
have sold out In anticipation Of such only TO nnd tha
they did mot take place. the market as . rule, having
remained nearly steady under pressure to sell, ant
risen when this pressure was withdrawn. This has EN-
boldened the dispersed multitude Of operators tee
graph from their rural haunts orders 10 buy and thor
speculators out Of town are nearly much in
ssrsstsd in sae market As specuiaton in town.
At the open board 1t ten o'clock the speculative feel
Ing was strong Erie sold at 66x, Now York Central
1oax. Michigan Central ll1K, Michigan Southern SAX.
Cleveland and P,t.sburg s7K, Cleveland and Toledo
Hoax, Rock Island l02k, Northwestern sok-pre-
f0zred 6sk Fort Wayne 1921, Manposs preferred 2o1.
Al tho first regular board there no abatement OF
activity Erie closed per cont higher than at the half
pass two board yesterday, Michigan Central l. Illinois
Osetrsl k. Cleveland and Pittsburg II, Rock Island y,
Northwestern preferred u, Fort Wayne y, Quicksilver
Il. Western Union Telegraph u. New York Central
wss y lower, Hudson River y, Reading y, Michigan
Southern " Cleveland and Toledo y, Northwestern k
Government securities wcre moderately active. but
shade lower under the effect of the decline in Ave-
BY tho Atlantic Telegraph Coupon avetwentles OF the
old Issue declined u, seven-lhirty notes OF the FIRST
series y.
At the O'Clock sessions the market steady and
active. Al the half-past board It showed slight
falling OF on portion OF the list but advance the
remainder. Reading closed u higher, Cleveland and
Pittsburg ", Northwestern u, Mariposa preferred r.
New York Central sold at 103H ex.dvIdend showing
nominal decline OF ~. Erie closed u lower Michigan
Southern ~ cleveland and Toledo y, Hpck Island "
Fort Wayne ", Western Union Telegraph u. Government
securities we're duh and coupon fvetwenties OF the
original issue experienced further decline Of n
quent on transatlantic telegram reporting them at 6sh
yesterday in London. The third issue, however, ad-
vanced u, and seven-thirty notes were firm.
At the three O'Clock open board the market was dull
but steady. Erie sold at 6szs o. Michigan Southern
SAX, Cleveland and Pttsburg SIX, Cleveland and Toledo
Il5s, Rock Island 1929, Northwestern 38Spreferred
66k New York Central div (s. 81 1887, Mariposa
preferred 27h Afterwards tho market remained quiet,
and prices declined and ut hafpas Eve O'Clock closed
dull, at the subjoned quotations:-New York Central
1922 y, ex. div; Eric 68,S u. Hudson River lls1
100. Reading Ill 4, Michigan Southern S416 . u,
Cleveland and Pttsburg s73s , Cleveland and Toledo
ll5x =, Rock Island lo2H u, Northwestern 80 .
k-prefened 663< u, Fort Wayne 1924 u, Ohio and
Mississippi certificates 2Sx Ak.
The monetary facilities at the command Of the Stock
Exchange remain in Of its rcquiremens
and call loans mado freely at per cent. There
u only very moderate demand for discounts and 0rst
class commercial paper is quoted At . 6h per cont
the general rate being 9.
Tho gold market opened under considerable excite
mont, tempest Of voices having broken the
previous stiffness Of the room in which IL Is
held as the clock pointed 70 half-past ton
tho time for tho commencement Of business-and
IN the midst OF the busy camor tho price advanced from
1885, at which tho frst transactions were made 70
1854 after which 1t reapsed tho opening quotation
II subsequently 10 lasss, and finally closed at lao
The supply a ooin FOR delivery unequal the
mand, and borrowers generally paid 18th per per
diem for loans although the close Of business
transactions reported at sd The cause OF
the advance In the premium the which pro-
duced tho decline in the nve-twenties namely ~,
the decline the abroad which was added tho
important tact that instead of treaty peace having
been signed BY the contcndng Powers In Europe
reported yesterday only armistce Of q month had
been agreed upon, which may may not result peace
and probably not for win be hard to settle this Ger
manhattan queto terms mutually agreeable to the
bsllgerents until they have far crippled
than Austria is at present, tho Germans looking
upon their armies much "food for pow.
DER" and easily replaced Ths, OF ooursc, is nero
speculation but so far the United States is
concerned there why the prospect Of
minaton Of the war IN Europe should decline
in the gold premium, for ultimately continuance Of
the would operate powerfully In favor Of fall by
stimulating export trade and turning the foreign
exchanges In our favor Should the war cease
may look for smaller export Of breadstufs
and bonds than under more favorable circu,n-
stances wo might have otherwise looked for;
but we likely TO experience brisker demand for
our cotton abroad and thus escape tho contingency OF
sudden return OF large amount Of our bonds With
respect TO these ID may be safely assumed that hence
forward closer sympathy sill exist between The foreign
and domestic markets. owing to the frequent hange
Of quotations by Of the submarine caole which is
already resorcd TO by Wall street. the cost OF despatch
being divided among several firms dubbed together
tho purpose.
Foreign exchange has been very dull, and ra,cs OK
percnced n further decline among urgent sellers but
tho lending drawers ndisposed to make
sons. Bankers bills England at sixty days we're
quoted at losk u second hand, but some of the
drawers asked l0sx. Commercial bills difficult Of
SALE and range from 100s TO lG, bankers prcferrng
TO ship gold to mitting thcm Prime bills on Bremen
wore quotNd 10 n,s 10 the thaler; on Bremen %
ccnis 10 the taDco short sight 37x; on Berlin 3
cents 70 the thaier; Paris threo days Sc lie Or
13kc 70 the doiar--all in gold
Petroleum and mining stocks attract little attention.
and far the form concerned deserve lcss. Al
the arst board New York and Allegheny sold at 81 9
Uatsd States - as Pithoe Creek 81 25 Consolidated
Gregory Cold $50 %, Gunne Gold 81 TO- Keystone Sill
yer SIo Now York Gold 81 IS Smith Parnclee 50 IS,
WAIKIKI 81 1s Kipp \ Buell. 81 Ao AZ the second board
Uasd closed Ioc lower than at the first board.
selling At So as Smith Parmee Ioc, selling at 20 7s
Bennehor Run sold al So Dawnisviilc Gold 9oc., Gun
nell Gold 81 ls New York Gold 81 30. Waikiki 81 10.
Tho now internal Revenue law goes into effect to-
morrow, and tho tar brokers' sales Of stocks and
gold Ia thereby reduced to cent for every hundred
dollars instead OF lco per cent stocks and lilo on
goid, as at present
NEW YORK STOCK EXCHANGE.
TUESDAY. July 81, 1904