The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-08-08
FINANCIAL AND CONNER CiAL.


activity to-day who sold then to realize profits
IRE nos, buying for fresh rise Confidence In the
nance Of current prices sustained by the prolonged
monetary ease under which loans arc made al
= 4 per cent on government securities, and
On railway shares, with only triiing exceptions ut
A. the same time, the prevailing sagnsiion 10 trade
causes very light demand for DISCOUNTS and prime com
iuercisl paper passes low as Sd per cent, the
best being quoted at al fhero u AZ the same
drain OF currency 10 the interior, but
-ight influx from the West, while both Fast and
wet the same monetary and dizziness OF trade which
psavai here felt Under these circumstances specu
,aton holds an lnducemont for the employment Of
capital which 1t is not always slow TO SEEK for tho mum
bsr OF those who making haste 70 be rich by fail
foul is countiess and Wall street. treacherous
.sd oapoious Il is known TO be, Is always aluring
AZ the early OF the open board the market was
mewha rmer than at the close OF business last even
ing. Ere sold at GIN Michigan Southern s31s niip
Central i2l u, Cleveland and Ptsbarg s7A, Clep IN
aud Toledo 1l5K Rock Island 1885 NortsSM ssin,
preferred e7, Fort Wayne 1884, eaah 5e. Al the
'efahca'es 2e&, western ussscuativs feeling gained
nid' regular board ~aeancod slightly. Erie closed
Ss"ne'n' ana at the haif.past two board
hisner. leading Il. Michigan Southern 4, Illinois
T%so<"7l, Cleveland and Pittsburg u, Rock Island NJ
-;ofth Western H-preferred u, Fort Wayne H. western
tnd Mississippi certificates n. Governments gold
ossrng securities were very firm and seycnthirty notes
steady Coupon five twenties Of 1852 advanced n third
issue T.
Al tho one O'clock sessions the marke, yas barely
steady bu at the hafpast two board was moderately
srong Erie closed Y higher tban at the first regular
board, Reading q, Cleveland and Pittsburg x Rock
Island n. Northeastern ~ Ohio and Mississippi sertiG
oates y. Western Union Telegraph z. Michigan South
ern was y lower, Fort Wayne Il. Government
securities we're steady excepting coupon hys-twen,es
OF 1865, which declined u. LF
Al The open board three O'Clock tie tnarkes was
steady New York Central sold lo9% Erie essz,
Reading Ilik, Michigan Southern s4, Ca;awssa ysX,
Heveiand and Pittsburg s7%, Cleveland and Toledo
1888 Rock Island 1867, Northwestern 352I X-pre-
fsrred t75s, Fort Wayne 103& Ohio aud Mississippi
certificates 30 Quicksilver 40, Western Union Telegraph
ss. After~ ards the market strong and at half
pas; Eve the following quotation currcnt-New York
Central loiIs X, Erie 49, u, Hudson River I2II
Heading ill7s 112 Michigan Southern SAY g. Cleye
land and Fittsburg SS1 ", Cleveland and Toledo lie
I'D, Rock Island 1868 q n. Northeastern 3s1z a 81
p-eferred % a 4. Fort Wayne 1875 1o4, Ohio and
hiss ssipi certificates 2oh ~ Canton 5a, X, Quick
silver AZ ak. Ell .r
Sold has shown increased nrmness and the sup
ply for delivery has been sufficiently scarce
70 cause loans to be iaado a. l-l8 x
per cert per diem In favor OF tho lender OF the com
The opening price was 147. followed By a. decline Of
y and an advance to I4s-thc closing oas,aticn
parry Of foreign bankers and Others. grt istood 20
10 Short" OF gold, have memorials- ne eorot,ry OF
tie Treasury to selI his socalsd supus and 80 repeal
she bunder and rcvive tbs scandal which disersced
mo Treasury few months ago Not few of tie firms
whrss signatures appended TO this npuienG request
ns known to be largely short in Tho gold market and
n Mr. Mi
promote their speculatons for q fall n tho secrc
tsry sold gold In compliance with ther sGggeston Il
woad Tor the time being render the market more
vulnerable TO their attacks bat in any ia ther
opinion the agitation Of tho question of sealing Treasury
gold could do no harm, and the2e dat,ereaed and
sshy patr otto gentlemen their precious meoral
70 Warrington. II is almost ncf .iess TO GOV
laai Ito Secretary will no, 10 true 10 his
sasy he complies with the wishes Of thcs,
gentlemen who are .shortu ri soId ard who
merely want the Secretary to hop them 10 make
money. The country has had enugh ~ government
gold obhng ALREADY, and regards with suspicion every
approach towards = fresh movement of tho lind The
report Of the Congressional committee appointed 10
Investigate tho singular circumstances offending
me las; heavy saios OF coiu by the government
las not ben submitted. and tss pubic mind
= BY no means satisfied upon that suhjec and for Mr.
kcCuoch T. repeat the bunder which brought upon
y. fatal The memorial referred to We suboin:
INV yosY July 1896
=. Hon. Hu0H McCULrocs secretary Of the Treasury =:
S1io Wow Of the cmbarrasssocnts aud I.pedirnsnts
us"vemea. in gold, and aggravated by ths accumulation
u the treasury bog respectfully sugges. 10
sed actually the properly q The government soycne
Whatever amount may bo deemed essential keep on
hand fcE ihe payment Of the sold interest The public
According 70 general belief In which ws participate
the sole ground for imposing duties upon imports psya-
the deO and not intended to tao Treasury into
savings bank for the boarding OF god CON- thus
aaA reduce all commercial trAasacons 70 the basis IL
speculation In gold ~ 10 the present We there
mos eaec,aal means Of checking inordirao spceu
lotion, whether u would not be advisable 10 sell all your
We consider the 81 rata osSrcmam mater Of s.ccna
sy Importance Gold at $50 M m. practically the
vsdss on g a, debts public and private 20 shs cItert
essential n the dignity or well being Of tho govern
scent 70 benefit 10 any great extent BY that fac.
Foreign exchange has boon nrm, and moderately
scive Banksrs bills Engand at sixty days sold az
,or1 los; three days 1857 . 1907. Commercial 400
o7 bills Paris At sixty days g. I7Jsc 81 2oc. At
thess days o. LOG aSG Isxc
an.cg stocks were Arm, but rather duh At the nF,t
board ownievile Geld closed at &C. higher than the
sans time yesterday. New York Gold 15c. Quartz Hill
sss Sc lower AZ the second board Consolidated ORE.
gccy Gold sold At $40 So WAIKIKI 81 90 American Flag
81 United states IS, First National &C.
RIO earnings Of tho undoTment,oned uiiwsys during
It's month Of July worc:--
1895 1868
Cnicsgu and Northwestern. SIR sss tT-c 600
Chicago end Rock Island. ~ 80 "a 1i2
Waeterp Union. ............ 30, h2S 4s;s say
Chicago and Altoa. $50 ess .26 SO
MICHIGAN csntiai.......... S3e,1Cb 324, g8d
Tho fhadslph,s money q still 10 an easy con.
s.cn, call loans being negotiated about nve per
s statement Of the banks Of that city Ito week ust
snsod, compared With tho New York bank statement
fof 'ao same period presents remarkable feature
ue.tins the tendency Of capital 10 accumulate in this
a,y. While the New York banss lncrcased their loyal
@nders 81 s2s2es. tho Philadelphia banks s5es $50
vs he perceived BY the following comparative state