Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-06-29
THrRpnAN- .1unn g

THURSDAY, June e.
The last adviecs from the other side OF tho Atlantic
has produced some little stir and c2mmotion in com
mercial and financial circles. and already there is
much speculation rife to what effect serious Eu-
ropean war would have on the general business in
forests of this country There arc those who contend
that the existence of hostilies such as are very
likely to take place. will very much benefit both the
finances and commerce of the country. There may
be those in the old country who would under crcu-
stances of n widely extended and protracted war in
Europe be disposed to send some of their valuabes
to this country for safe deposit. and doubtless to
extent this will DO the case, which would as
matter of course cause some relief TO the money
market by increasing the capital of the country,
which is already large and moro than sufficient for
all the requirements of the limited trade at the
present, but whether this would compensate US for
the restriction and limited trade which would neces.
sarily follow. is matter which seems not to be sat
isfactorily and definitely settled in the minds of
many whose opinions in such matters entitled TO
some consideration Ours is a producing country,
consequently the larger portion OF cur wealth must
arise from this source Then. in order to derive the
greatest possible benefit from our rich mineral and
agricultural resources, it is necessary to have unds-
turbed commercial intercourse with the markets of
all countries which could not be the condition under
the rule of hostile relations between many of the
great Powers of the old world
There was quite a large business done in Gold tO-
day-the sales include some 100000, opening 1t Isl
and selling down, both at the first and second Boards
as low as l5l%, the transactions being chiefly short
sales.
The Government securities showed rather moro
frmness, and q slight improvement Is noticeable in
them-5,G0O old FiveTwentics sold ut l0iH, and
5000 do. of the third issue at 1921 We also note
the sale of q coo SevenThiries al l03 lG3 closing
quite strong.
-
very easy and plentiful money market. which will
necessarily cause speculative feeling and rise to
trade in good stocks. There arc. however, very few
of this description Offering at Board and to-day
while the bidding would have been spirited, there
nothing done in them.
In miscellaneous and fancy stocks there was moth.
ing done.
Money continues very easy. This will doubtless
be the case for some time, the Government win
between this and the 18th proximo Fay off all her
certificates of indebtedness which must largely in
crease capital Loans can easily be had on call at )
@6 z cent on the deposit OF good stock Govern
ment securities.
AT New York to-day, the Stool. market has been
well sustained, considering the large amounts Of
stock which have been sold to realize at tho advance
Tho disposition of the street is favoring the bulls :,
and appearances indicate an attempt to run up tho
prices of several of the speculative stocks, among
which Erie Is most conspicuous which closes firm at
6l34, having steadily advanced iIom COZ this morn
ing. Private advices received by the Java to-day
report continued scarcity of the stock fer delivery
in the London market, and sympathetic feature has
presented itself in New York although to less ex-
tent. Nothing to daunt the portinacty of the
bears who have been freely Offering the stock TODAY
both the street and at the boards. but they have
been met by ready purchasers and it remains for the
future to decide which of these opposing interests
is pursuing the most profitable course. New York
Central has ranged between $50 and gsi6 and closes
at the latter ratio The manipuIators of this stock are
doing nothing at present. and its fluctuations to-day
are the result of outside speculation. Reading has
been steady at III, but with comparatively little
doing.
Michigan Southern opened at 1874. and with some
little variation during the day, it closes steady al
1874. Pittsburg was firm ut quotations Rock Island
declined to q Mt the first board but recovered to
az at the following, after which it sold ut 9H1 and
continued steady throughout the afternoon. Fort
Wayne advanced to 9812 this morning bu! gave way
later in the day and closes dull at ISIS The North
western stocks have generally been well sustained
to-day; the common" closing at 30 and the pre-
ferred' at 500.
Canton declined to 5335 ut one o'clock but reacted
to 5i12 at the next call, after which it became weak
and declined TO 53l4 at P. NJ. Cumberland reached
81 this morning, but fell to Al at the last board
The war tocsin has sounded in Europe and II is
1mpOSSlDIo 10 determine the confines the struggle
which has Just been naugurated by the present bel
igerent powers. 1t must certainly have its effect
here we'll as elsewhere. but to what extent or in
what particular manner, opinions widely differ
Thus far the rreliminaries of the conflict have ex-
erted no pernicOus influence on United States secu-
rites in Europe, and their quotations are about the
same at previous advices. In arguing the prefer
ence Of our securities the Continent it should be
remembered that experience has taught that it is
more than likely the process Of boarding gold will be
resorted TO by large number of persons of limited
means and as q suspension of specie payments must
speedily be looked for, it may DC fair presume that
temporary rush will be made by these individuals
to convert their available into the standard
of value which may be the means for the time
being, of causing slight depression in our Sc
curiteS. On the other hand as England will IN
doubtedly every endeavor to avoid the calamity Of
war. bonds Offer too great inducements to their
capitalists to admit Of serious decline for any pro-
tracted period.
Five-Twenties have been in great demand in New
York to-day; those of 60 advancing to 1895 and the
Issue of 81 reaching 1884, an Improvement of "a per
cent. since yesterday morning. Seven Thirties ad-
vanced to 1857, and Ten-Forties sold at 81.
Gold opened at 1874 on the street this morning
and gradually declined to 1914 at 2.4O P. NJ from
which point it recovered somewhat closing firm at
1854. 1t is still scarce and borrowers have to pay
from 1-32 to 1-l5for use
Money is without material change at per cent on
call,