The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-08-17
FINANCIAL AND COMMERCIAL
TUESDAY, August ie-sP.

TUESDAY, August l6-eP. n
Ths cold market remains strong, and It's &C.
yity Is seen In the frequent fluctuations wncn marx s
,our.e The threatening aspect OF Eufopean e"aHs,
,h ,bs scarcity OF coin both In the country and on the
s. temporarly assists the advancing tendency OF the
nremum and there Is mot wanting band Of unscfupu-
us specalaors who wish to aggavate the scarcity re-
ferrcd TO- order that they may DO able to loan her
,od steadily to the 'shorts At high ratio Of Interest.
To-day loans we're made mainly at y per
cen. per dom, and the extreme rates were
ss2a8i6 The opening price was 1919, followed
by an advance 10 1SlK and decline to 1870 from
which point steadily 70 l52Hshe closing quota
ton.
The stock market was Arm but not very active, owing
10 the fact OF OF tho recent operators for rise hav
Ing sold out with view TO buying In at owor ngures;
sad finding that the market has not yielded as they ex
pecad would they hesitate to their future course
meanwhile remaining out Of the market This state Of
things can continue but very short time however, Is the
multitude OF cporators at present out Of town WILL soe
ing the unusually favorable condition Of the money
Market avail themselves II the opportunity Of making
hay while the sun shnes, or other words, begin to
speculate for rse Tho increase thus caused In the
volume Of business win carry prices up and those who
out Of the market will either have TO remain
sat Of il " buy At higher prces than they scad At The
Western crops promise 70 be very large and the traffic
arising therefrom will greatly increase the earnings OF
the railways In that section during the next few months
and thus values appreciate prices win bs lksly
rise MA
the early session Of the open board the market was
steady New York Central sold at los d. 81 Erie 6o3s
Reading ll4,s Michigan Southern "a 81 s6x, Cleveland
and Pi,tsburg s7k, Rock Island 1867, Northwestern
ssk-preferred 67<, Fort Wayne 10Sx, Ohio and Mis-
Sssppi certificates 20K Western Union Telegraph SON.
AT the FIRST regular board the speculative feeling was
stronger. New York Central closed u higher than at
tho haifpast two board yesterday, Reading " Mchi-
gan Southern u, Northwestern 1-preferred Il,
Fort Wayne y, Quicksilver y, Western Union Tele.
graph e, North Carolina skies n, Tennessee skies
~. Government securities were buoyant under
the effect Of the Treasury notice regarding the
payment Of ave per cent temporary deposits
and the extremely easy condition Of the money market
Coupon ten fortes advanced 4, Hvetwentes Of 1862 "a
issue Of 1885 H. thirty notes Of the first series y
At the one O'Clock sessions the market Arm but
quiet At the half past two board 1t was firm but dull
Erie closed y higher than ut the nrst regular board
preferred y, Reading l. Michigan Central X, Rock
Island 81 Northwestern preferred Il. Cumberland "a.
Now York Central was Il lower, Michigan South
ern u, Western Union Telegraph y. Govern
ment securities continued strong. Coupon hve-
twenes Of 1882 advanced y, third issue "a
ten-forties u, scven-thiry notes OF the second
and third series ~ New York Central 4 lower,
Michigan Southern *, Western Union Telegraph 4.
Afterwards the market closed steady and half past FIVE
the quotations were:-New York Central 105 ~ Erie
ss,s y, Hudson River llaI 40, Reading 114,s
Michigan Southern s51S y, Cleveland and Plttsburs
s1H a u, Cleveland and Toledo ll5X ll6, Rock Island
1915 y, Northwestern 80 ti-prcrcrred 67,s ~ Fort
Wayne 106 y, Ohio aud Mississippi cert fcates 20
N.
Tho Treasury disbursement OF $40 ESQ 000-the semi.
annual interest section Of the seyen.thrty loan
which commenced yesterday is already exerting
Influence upon tho money MARKET and the surplus OF
loanable funds is on the increase. At the time
the ofcal notice which has been given that tho Urea
sury prepared TO pay of all per cent temporary de-
ross and that interest thereon will after the 26h
instant insures monetary al this centre for con
siderable time TO come, the disbursements will exceed
the amount which is likely to be sent westward movo
the crops There the LIST instant $1lS 400
OF temporary deposits with the Treasury, but nearly
half OF this amount Is represented by clear
ing house certificates, which boar ouly
per cent Interest aud which the Treasury has no nte
ton OF disturbing at present. Loans to the stock Ex
change arc generally made at per cent but outs,d,
iender, such as trust companies and the banks ask
for miscellaneous loans. At the rame time large
amounts arc loaned TO nrst ciass houses ut 3 pcI
cent Jhe discount line is dull but large Offering o,
snrce ana SIX months commercial paper is reported.
Ihsi chiefly made by merchants who wish to avail
themselves or tho prevailing secure a good
balance at their banker by getting their paper dls.
co6hed the larger portion proceeds Of their
being usually allowed to remain to hc'r credit with the
diseounting banks There Is change In rates the
beet grades being quoted and the Second a. o.
- per cont
Tho foreign exchange market was dull and shade
lower Bankers bills on England at sixty days
rated al 10Tk e; three days, 1851 100; CONNER.
csi 1904 l0I The for the best bankers sterling
bills at sixty days under at the beginning of each
month since April last year