The New York herald., 1866-09-16
FINANCIAL AND COMMERCIAL.
sAruRpAr, Sept 1s--6 P. Al

4. 49,. \, 80 ,o,r ,sferred faIi speculation seems TO
have begun vigor and prospect Of hs continuing
,hrosh ths month OF october Capitalists, brokers and
orvae operators have, with few exceptions returned
nom the country and those who failed to buy all the
stocks they wanted during the recent depres-
sion are generally submitting to present prices
pnder the impression that there nothing to be gained
by DELAY The "bear" interest is greatly weakened by
his change In the temper OF the street. and the market
IL in that condition when the covering Of shorts can
not fai, in advancing pnces There Is very consider
able s,sho interest the market, and particularly In
New York Central, Erie Michigan Southern and Rock
Island these stocks just now the strongest OF all
the railway shares although the drst mentioned, in
siew of the dividends has been paying, is dspropor
noua,ely high
There ia no change note in the money market The
supply OF capital yaabe for the Stock Exchange
Is largely in excess OF the demand and loans are
made by the banks at both four and five per cent;
but OF the leading dealers in government
securities supply themselves at three per
cent, and have been able to do SO regularly for
more than month past The demand from the stock
houses light and the brokers enabled to borrow
among the fraternity to extent which leaves them
almost independent OF the banks for the time being.
Tho discount line Is quiet. and affords but limited scope
FOR the employ Of idle funds There Is not much first
class commercial paper being made but whatever oors
Is promptly taken at per cent The Western money
markets are easier this season. and there is
little probability Of any further material drain from this
centre the disbursements Of the Treasury account Of
the ve per cent temporary loan and interest on the
seven thirty notes having made money unprecedented
abundant all over the country.
This afternoon the Secretary OF the Treasury has ad
vertsed that he is prepared to redeem certificates OF
temporary loan, known Clearing House certificates
Su,,.Tr uhich IN tha
extent Of fifty per cent Of the whole on the
25th of September and the remaining nifty per
cent on the 25th OF November Interest win
half the amount therefore, on the date
first mentioned and on the remainder when the
time fixed for their redemption arrives. The new
York banks hold e25 900 Of the certificates and tho
banks in other cities $50 0o0, 900, the total
cordng the last statement Of the public debt being
$45,53s, 600 These disbursements will add in some
degree the prevailing monetary in the leading
cities; for although the banks win have to keep
their reserve good in legal tender notes, they
will be likely 10 keep than is
necessary under the law, whereas they have
hitherto been in the habit OF holding more than the
legal reserve owing the certificates bearing interest
being unavailable for except through the Clear
Ing House, and the banks have always been dis.
posed to call in or curail their loans than to
cash their certificates This partly In consequence
OF interval OF ten days having TO eapse before
deposits for certificates could be Withdrawn
demand. 1t is not mproba BILE that the banks to
facilitate their exchanges, will now establish common
rand with OF their number, which will issue certh
cafes to take the place Of those OF the Treasury
the early session OF the open stock board the specu
Istive feeling strong and New York Central sold
io7. Erie 72k Reading d. 81 1l5, Michigan Southern
ssI. Cleveland and Rttsburg s6ss u, Fort Wayne
Ma, ~ tha G~ot
board the market buoyant prices, with firm
sndertone. New York Central closed 1,s higher than
at the time yesterday, Erie u, Reading q. Mch
gan Central y, Michigan Southern Ia, Illinois Central
~, Northwestern h-preferrod u, Chicago and Alton l.
Quicksilver IL, Canton ~ Cumberland r. Mariposa
srraa 4 State stocks were t6e'h 6ee Hannibal bfS and Syss N
Joseph issue declined u Government securities
were hrmer under the improved quotations for
dvc.twenes in London. Coupon skies OF 1881 were x
higher, nvo-twenlies Of 1852 Il, second Issue 1.
third issue Z, tenfories "a thirty notes Of the
urst series Il. second and third series, u.
Al the o'clock open board the market was Arm
New York Central sold at l07,., Enc 72si Reading
ll5h, Michigan Southern s3is, Cleveland and Pitts
bursh so1s, Cleveland and Toledo lieK, North
western 35ss. preferred 661, Fort Wayne
1857. Ohio and Mississippi Certificates 2ol., Cum
berland 46E. Mauposa preferred 81. Afterwards
but subsequently,. New York Central declined :. per
cent while the rest OF the list without material
alteration At haf past four quotations as under
Erie TSsS q u, New York Central IO6t4 =, Hudson
River l2i = 49, Reading ll5 a ~ Michigan southern
s3% u, Cleveland and Pittsburg sGk 81 Rock Island
1881 =, Illinois Central 1913 l22 For. Wayne l05
u, Northwestern 35 i4-prefcrred co., =. Canton
b2 So Cumberland 10 =, Quicksilver 52lf a. Mari.
posa preferred 31s a32
Compound interest notes were quoted ms follows al the
close Of busness-Jano, 1864 1i6is = July 15ss a
-; August, ll55s a.; October, III December,
lI3. ass May, 1865, l1lI aiii; August, Iosss Z
September. l0gts u 1o9,s october, 1851 a =.
Other securities nominslly thus :-Rcgisiercd,
1881 ma X; Coupon, 1881, llils q l12ss; so
Registered, isG2, los u: $40 Coupon. 1885,. Ill !,
- $50 Coupon, 1864, ioSts -; go Coupon isG5.
10st. u; 1910 Registered, e5s s.: 1910 Coapon.
sss Il. New Certificates, -: August, 30 1905 q
1905 June, 7ao, i06 i0G%; Jry. 30, Ios a 1861
The gold market has been heavy. although gold was
las abundant than OF late. IA proportion borrow
ing demand. Loans generally made al lGih q
32I per cenl per diem 10 favor oI the lender The
opening lloation li4ss followed nv an advance 10
IHya, ana q Subsequent decline ijii the closing
price Tie steamer thy Of Roston took ont
$4,000 specie, making Tor the week Slas so Toe
exports .. gold from this port and roston since 10
lst OF hay have aggregated s5i,45s.S i,s details of
which thus shown
west it,dinS An.roL Wei E,G.sg lmopa,
May 5..........sl ,247 z4O Jriy u ..... .GUG 200
Nay l2......... J,oJlfa5 Julg IS4..,.... 1sln o
May l9........ :, s,5Gs 2nj August i....... - 56t
Nav 26........ II 80 $40 August u...... III 315
June 2.......... 6,Si&25s August S...... III go
june s.......... 100 August 25...... 5ST 2l9
June ii........ e,iS$,ig9 sepembcr l,... .oa9i2
June - I........ l.409l los September S.... i.7 20
IN -