The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-06-09
FINANCE AND COMMERCE
OFFICE OF THE EVENING TELEGRAPH,
Saturday, June o, 1866.


The Stock Market opened very duh this morn
ing but prices we're steady. Money continues
plenty at about former rates; loans on call are
freely offered at per cent; mercantile paper
is scarce, and ranges at from to 10 per cent.
per annum, as to quality. In Government bonds
there is very little doing. 52Os sold at 1923; 1895
was bid for 6s of 1881; 1921 for 73Os 90 tor lO4Os
State and City loans are in fair demand. Penn
sylvania 5s sold at 9OB; and new City 6s at SO
@964'
Railroad shares are unchanged. Camden and
Amboy sold at 1898; Pennsylvania Railroad at
55; Reading Railroad at 543@545, a
slight advance; and Catawissa preferred
at 26k slight advance. 80 was bid for Little
Schuylkln; So tor Norristown; so for Lehigh
Valley; 80 for Elmira common; 43 for preferred
do; 3ls for Philadelphia and Erie; and 43 for
Northern Central,
City Passenger Railroad shares continue dull.
Chestnut and Walnut sold at 58. q was bid
for Thirteenth and Fifteenth; 3S for Spruce and
Pine; 186 for Hestonvlle; 49, for Ridge Avenue;
and 383 for Union.
Bank shares are in good demand. Mechanics
sold at S02 lao was bid for First Nationals; l41
for Philadelphia; 1913 for Farmers and Me-
chanics'; So for COMMERCIAL; 3O1 for Mechanics;
95 for Kensington; so for Penn Township; 52l
for Grard; so for Western; 624 for City; and
81 for Union.
Canal shares are firmly held. Schuylkill Navi-
CATION preferred sold at 33l@335; and Lehigh
Navigation at 554@55l, an advance OF J. 26 was
bid for Schuylkill Navigation common; l2O for
Morris Canal preferred; and 10 for susque-
hanna Canal.
The New York Tribune this morning says:-
Money is increasing in ease and at 596 per cent.
borrowers are readly supplied Prime short paper
and saleaDl at low interest-as low as per
cent. for choice short bils-but long engagements
are not in favor he alarm shown at every rumor
cant, and should teach borrowers caution. II is
well known that a large majority OF these lnstitu
any attempt to make them re !eem their notes in
legal tender would force them INTO liqq-
Culloeh has abandoned his effort to- bring
aOSut specie payments, and is the leading
and borrowers must be careful and not be too much
ex anded wnen he returns as ne must, to the prin-
report The country cannot AFFORD to continue busI-
ness upon irrede emaoe paper and successfully COM
must return at no distant day he return come me-
by what route IT may, Will cause great dstress to
all who are de6,or % during % the process and are
under the appreciation OF paper and gold. The use
of paper money by tue Treasury dur ng the bel
lion was desperate resort and Its cost has yet to
he borne BY the country"
The Chicago Tribune says:-
"Tbere are complaints from a'lquarle-s to day. of
scarcity Of currency, and the money market may
safelv be reported TO be stringent. TIE heavy
ceipts Of grain for ten daY past have caused con-
stain draln ON our banks, and large amounts Of
currency have been daily sent into the interior of
liDOis, Wisconsin, 10 va, and Minnesota Hence
the bankeTs are not as wei prepared TO supply the
public as formerly, and they have to make a closer
DISCRIMINATION Of the paper offered for discount
Rates. however. are steady at 10 per cent. per
annum at the banks, and 1C1l4 per cent. per month
the street. The supply OF Eastern exchange to-day