The New York herald., 1866-06-16


Week ending May g.. .12sfa 1855
Week Meek ending May ~ 2...-........l laoA I2oA
Week ending May 49, .1ills 1903
Week ending juno e2...............A1lx 2. 1915
Week ending June &c.,. .145ss 1883
Business on the Stock Exchange continues dull, but
prices well sustained. Operations for are how
ever, held in suspense, partly owing to anxiety to
learn more Of what the future Of affairs Is likely to be In
Europe and after the there will pro-
badly be greater activity There is good reason
erheless why speculation railway shares, excepting
Erie aud Illinois Central should be checked BY the state
Of monetary political affairs abroad, money
ket is entirely independent Of direct foreign influence
and by sympathy it should rise with gold.
At the early session Of the open board the market
quiet and steady. New York Central sold at 9s, Eric
o0k X, Reading l09H, Michigan Southern 79%, ILL.,
nois Central l2l 100, Cleveland P,ttsblrg S2k,
Fort Wayne 97H, Rock Island OK q, Northwestern
aoh-pre!erred 90 59h Marposa preferred 24h, West
crn Union Telegraph 56k. At the FIRST regular board
there was a marked Improvement in Erie and Rock
Island bat the of the railway list dull although
firm Erie closed 2h higher than At ths halEpast two
board yesterday, Rock Island ga Michigan Southern u,
Illinois Central n. Western Union Telegraph dc.
clined u. Government securities moderately
active aud steady, excepting coupon ten fortios and
seenthrty Of the second series which advanced
" and hve-twcntcs Of 1865, which declined y. Nis.
soar state skies X lower than at tho time
yesterday; Tennessee skies higher and North Carolina
skies higher.
Al the o'clock sessions the market was quiet
and quotations wore without material change. At the
hslf-past two board II displayed feature New
York Central closed higher than the nrss regular
board, Cleveland and Toledo Z. Canton TX, Western
Union Telegraph X, Erie x lower, and Fort Wayne u.
Government securities steady Coupon ten-fores
declined u.
AZ the open board at haif.past three prices were
fraction lower aad the volume Of business very
limited. Emo sold at o0x. Cleveland and Pittsburg
ssk, Rock Island - n oaX, Northwestern Is. 81 30n-
preferred 6sH Canton cox, Msrposa preferred "a,
Western Union Telegraph 56H. The decline Of six per
cent in the last named during the week Is attributed 10
the consolidation Of the American Telegraph Company
with tho Western Union terms Is stated Of three
shares Of The latter stock FOR OF tho former the
amount OF which is four millionA The capital Of the
company in bonds and shares Is .sweled about
thirty Millions but the agreement just referred has
not yet been ratified, although It is presumed that
will be at the next meeting of the respective com.
panies
The stock market closed steady the street, the quo
tatons at half past Ave being undcrNew York Cen.
tral 9sk a 90, Erie COZ y, Hudson River llo bid,
Reading l0s& u, Michigan Southern 791 u, Illinois
Central 1913. i22, Cleveland and Plisburg s2k u,
Cleveland and Toledo los Il. Rock Island 03x o.
Northwestern 3o7s k-preferred sos ~ Fort Wayne
s7a Y, Ohio and Mississippi certificates 271 2s Can
ton 6o4 u. Cumberland 447s A. Mariposa preferred
23H a "a, Quicksilver sou a 81.
Money Is becoming drug on the Stock Exchange,
capital being offered largely in excess Of the demand at
hvc per cent while the exceptional transactions Mt four
numerous. There IL moderate business In dis
counts and nrst class commercial paper IL generally
taken al six per cent but the range Is from five TO seven
The foreign exchange market was dull and rather
heavy. Bankers bills ut sixty days England were
offered at 1ook by the leading drawers, and short
sight at 1l0l Ill; but the demand very light,
while Of doors sales Of tho best bankers bills at long
date were made low 100. Commercial bills
almost unstable and quoted at los q =. Bills on
Paris a, sixty days rated at 81 SXc, short sight
Sc Sc.
Petroleum and mining stocks moderately active.
the board BenEehoG Run o closed Soc lower
than at the same time yesterday. Bennehon Run
3sc. higher United States 1oc, Consolidated Gregory
Gold 40c., smith Psrmcce Ice At the second board
Bcnncho Run OIL closed loc lower selling at s3 United
Statos 35c., selling at 20 35 Bennehof Run 7oc
higher selling at S12; Consolidated Gregory Gold l0c,
sling at sl4 Pit Hole Creek sold at 81 10, Central
81 So Smith Parmelce 90 2s, Gunnel Gold sSc.
Among the amendments to the National Barking law
reported by Mr. Hooper, from the Committee OF the
hou.f ot representatives on banking ycrtcfuay " ono
reducing the circulation from half OF per
cent provided In section II 10 quar-
ter OF one per cent, and TO s.rko out tho
tax Of quarter Of PR cent on ,s capital Alto
sc'her To these amendments In view OF the many pr
vegcs enjoyed by the national banks under the act au
thorzing their creation, decidedly opposed The
iaaks In nearly cvery arc well able TO pay the
ta'ostt pr 'r' ir''.ei nay DC by the large
't nay tn their stockholders
tstst 4 thc amendment compelling
ag tiir ,U"atfy banks 20 redeem their notes ON de.
mand ia New York, Boston or Philadelphia and also
that limiting the circulation OF any ono bank 70 mil
lion Of dollars and distributing currency In proportion 10
capital as foows:-To each association whose capital
shall not exceed $500 o0o % per ccnum Of such capital
each association whose capital exceeds 100000 bu,
docs not exceed s5ooo0o so per csnum Of such capa
each association whose capital exceeds $500 COO
docs not exceed 81 0O0 20 per ccn,um Of such CAPT
tai TO each association whose capital exceeds 600
ou, does not exceed 90 per centum Of such
capital 10 each association whose capital exceeds
ts0Oo 20 per Of such capital the amendment
also providing that whenever tho deposits OF public
money any public depository exceed the amount Of the
bonds deposited for the secufty thereof, the excess
sha be transferred by the United States Treasurer at
once 10 the Treasury step In the right direction and
aery necessary one with the example Of Tho Merchants
National Bank before None of these amendments
~ ladsaI enough, however, They provide psllistiycs