New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-06-30
oPrN oil DoARp BROKLKs-3l 2. ".


Gold closes at 1914 after selling at lj2l l55 An attempt
was made to put gold up to-day by making scarce Tie
plan adopted was obonow money at per cent and Dor
sewing oil the gold possbepsyrg commission forit use
30 hypoheeate this way. The next step was to call in
ell ne gold loaned by the clique and refusing to reoan OF
any price, thus producing temporary scarcity under
which tie price forced up but not in proportion TO
the efforts made. The premium on gold is essentially sus-
tanned by banks loaIng upon it, profitable but not
very oredabe mode Of increasing their dividends Tie
most patriotic bankers the readest 10 loan upon
gold TO the damage Of the currency.
Government stocks Of all kinds continue in demand at
improving prices j2Os Of 1862 /; do. Of 1865 Il
10 4Cs 4 and the 80 series Of 1885, t. North Carolina
SIS rose J. For State stocks and Railway mortgages bust
ness is reduced small limits. Tho small stocks CON
tipue neglected Maposa Preferred rose Il per cent IN
der favorable adyices from the mine The Railway share
market is neglected, except Erie common which at one
same sold as high C3l and receced 70 t2 Buying ap
pears much easier than selling 70 the parties now engaged
IN forcing the stock up against dropping market and
the desperate balance sheet Of tie Enc Company.
Al the Second Board the market tame and the trans
actions small Ere after selling down 81 in the street.
rose to 6i After the call the market continued dull, and
Erie sold at co.. closing at 6l The balance Of the list
was heavy The closing prices were: New-York Central,
ss3a9s!; Erie, 6lsamI; Hudson River, lllall2i
Reading, 1895 al09I Michigan Southern, 7s407Sl;
Cleveland and Pittsburgh SO S2i Northwestern, 80;
North-wesern Preferred 50! 95os; Rock Island, 93l
81; Fort Wayne, 97iagSi Water Power, 3ila35.
Money remains easy at 5a6 per cent, and upon Gov
snmen,s is taken. In commercial paper 10 change.
1t stated that an early day the Treasury intends TO
pay of its temporary loans. This movement in addition
20 the liquidation Of the oneyear Certificates will put at
The command Of borrowers large amount Of money, and
give still greater ease the market but people should not
IL
upon which good many TO be shipwrecked AS soon
q these two classes of short currency debt out Of the
way there is no reason why the Department cannot at
once go step further and offer TO holders Of compound
notes a gold-bearing bond Of tempting length at
per cent and get them out Of the way also. AS
the Treasury pays its call loans Temporary deposs the
public ct large borrowing CALL indeed borrowing
in any form, will pay more for money Without addi-
tonal legislation Mr. McCulloch is still able TO steadily
proceed in converting currency debt into long bonds and
% reduce the legal tender basis upon which the National
banks are dangerously expanded. Congress al
ready realizes the loss TO oil sound enterprises in suffering
these banks TO ESQ of redeemabe paper and
will no doubt, before its adjournment, in some degree
force them not only TO reduce their circulation but
% redeem the remainder at the three cities. A
reduction Of legal tenders Of four millions per month,
with contraction Of National bank circula.
money to the crops fast maturing, will give
10 lenders advantage they will notbe slow to The
Treasury performing its duty in the way Of reducing
the currency and funding the deb but it is not wholly
Sde by any Each month shows less Of short and
Of long debt and less Of egatender in circulation
and at no remote day, reluctant US Mr. McCuoch is 70
Get boldly upon the conservative policy Of his Fort Wayne
speech and his annual report he will find himself in
position, when his accumulation Of income alone will al
low him hoard not cance-for that not necessary
enough legsl-tenders % force a contraction as thor
eueh in its effect as loss Of coin produced
when gold and legal tenders the basis Of banking
and other credits The financial balloon Of rredecmable
paper brought into by the Rebellion has become in
Gated 10 the last degree Of safety and must be brought to
land by enforced contraction 10 prevent explosion
which will carry the whole machine and its passengers
Aown in one mass of ruin like that OF 1887.
Exchanges steady at the following quotations: London,
prime BANKERS so days 1881 aOSs London prime bankers
sght, ll0 all0i London prime commercial 1905 9I0l;
Paris bankers, long SIS 05l2l Paris, bankers short,
Sill a5osi Antwerp, 5lG1 a5l3l; Swiss, j.l6i abb;
Hamburg 800; Amsterdam, 49, Frankfort, 43c 49,; Bre
men, 70; Berlin, a.
In ffeghts the engagements 10 Liverpool are $4,000
bush Corn ct ii 3d. and 5000 boxes Cheese at 20s To
London 1900 BUSH Corn at 81 S6d To Glasgow, $500
bash Corn 6d. Three vessels chartered 10 Cork
for orders, With Corn at IS.
The business Of the sub-Treasury was: Receipts,
S3,s3O,S43 3l-for Customs, s5f5OOO Payments g. 697
7e2 9s Balance, $lO2 G34222 63-God notes, 100000
The Chicago tribune Of Wednesday says:
The money to-day reported 10 be more active
Than for day or two past but still easy and good
te aud commercial paper IN active demand by bankers at