New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-07-11

Gold is weaker and sold low l4Sr closing at 1875
The business in god-bearng Government securities is
veIy large One lot Of 81 900 of 52Os taken
81 les The 6s Of 1881 sos OF 1862 d 040s sold
E95i. In 7.3Os the business small In State stocks
sDd Railroad bonds little done. Bank shares strong, with
snA sales In the email fances little doing except by
brokers specially re,anedo keep them before the people
Tie Western shares lower and the sales quite large
The Enc speculation still active but the stock is car
he'd at al expense Of al per cent is understood that
se bonds issued to Mr. Drew have been converted into
stock and that ~ 600 shares have been put upon the
street II is by no means certain that any dividend will
as made upon the Preferred stock in August has
been earned in the first of the year. The expectancy
a ehangn the fiscal year. ending Sept. 80 is de-
teied This would give the Company the profits of July,
August and September toward the next dividend the
Preferred and very plausible dodge" to postpone the
breakup Of the which is impending. The ex
IeDses Of the road are enormous and in gross
have been from $4,000 TO $9l50O0 per month,
IN 1906 10 say nothing of the loans, which
SCOT up nearly 100000 per In one month the
sosd did not earn its running expenses and it very
doubtful whether anything beyond the bonds are secure
Of The receipts large but leases Of connect
ing roads express companies transportation companies,
yropeers, sleeping and leakages consume it all
beyond the interest Of the mortgage debts. At Second
after the call TO a. closing at 49, The balance of the
Inst was steady at quotations. New-York Central Rail-
road 99l a99i Erie Railway, 73s e73i; Erie Railroad
Preferred, 7s Hudson River Railroad ia; Reading
Railroad 1861 9lO7 Michigan Central Railroad, l05
Michigan Southern and Northern Indiana Railroad. 80
Illinois Central Railroad, 12l3 Cleveland and Pittsburgh
Railroad 81; Chicago and North Western Railroad, $50
s3SI Chicago and North Western Railroad Preferred,
G2i q622; Cleveland and Toledo Railroad, lllallli
Chicago and Rock Island 96s96l Pittsburgh Fort Wayne
and Chicago Railroad, 97i a97i.
The demand for money by stock operators active,
and per freely paid Bank Offices prefer call
iosns upon fancy railway shares saabe at short notice
20 any long engagements. no matter how substantial
This fact explains the present quotations for Enc Common,
Michigan Southern Common, Cleveland and Pittsburgh,
ssd North Western shares Neither Of them pay income,
but they are all regarded safe costeals by enthusiastic
sasers DESTROYS Of making every dollar of deposits
something night In commercial paper rates are I'M
changed Best pass per cent and good at per
sent.
1t is understood that the Treasury Department is dev-
ssDg quite large amounts Of 52s which have been
pad for BY the surrender of compound notes and 30s
yIssad Of making these exchanges secretly the Treasury
abond open the exchange Of short currency debt for long
goidbeaTing bonds at price to all holders. The pay
znent If One Certificates will in few DAYS set free
fsom the Tressurys large of currency, which,
1udg ng the present popularity Of gold bearing bonds,
val find us way into them After Congress adourns 1t is
probable that the Treasury Department viii take
s1rys to get its Temporary loans out Of the way,
and manage iis Affairs so as 10 kin of speculation in gold
STOCKS or commodities and return the gamblers TO some
ssduttna pursuit. H. few weeks there will be large
senaDd for currency 70 move tie crops, which viii be