The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-05-31
FINANCE AND COMMERCE.
OFFICE OF THE EVENING TELEGRAPH, l
Friday, MAY 81, 1857

The Stock Market opened very dull this morn
ing, and prices were weak and unsettled. Gov
sold at 99t; and 1862 5.20s at 1898, a slight de-
cline; lll8 was bid for 6s of 1881; 1865 for 1864
6-20s; l08 for July, 1865 5.20s; and 1864 for
June and August 730s. In City loans there was
nothing doing.
Railroad shares we're inactive Reading sold
at 81 8l-100, no change; Lehigh Valley at So,
a slight advance: and Pennsylvania Railroad
at 81, decline OF !. ~ was bid for Little
Schuylkill; 69 for Norristown; 33l for North
Pennsylvania; 20 for Elmira common; 40 for
preferred do; 264 for Catawissa preferred; IS
for Philadelphia and Baltimore; and 283 for
Philadelphia and Erie.
In City Passenger Railroad shares there was
nothing dong. 65 was bid for Tenth and
Eleventh; 19S for Thirteenth and Fifteenth; liz
tor Hestonville; and 80 for Green and Coates
Bank shares were IN good demand for invest
ment at full prices. l04 was bid tor Seventh Ma
tional; l54 for Philadelphla; 135 for Farmers
and Mechanics; 56 for Commercials; SO for
Girard; 81 for Manufacturers'; 68 for City; 81
for Commonwealth; and 60 for onion.
Canal shares were firmly held. Susquehauna
Canal sold at 1853, slight advance. 20 was
for Schuylkill Navigation common; ll9 for Nor
ris Canal preferred; and Sc for Delaware Dlyi-
sion.
Henry Bumm, Esq, the City Treasurer,
gives notices that the loans OF the city of Phia
delphiaS maturing on July /, will be paid, with
interest to date, on presentation at the Civ
TTeasurers Office.
Quotations of Gold-1Ok A. M, 1877; IL A. VI,
1873; IL NJ, 1871; p. NJ. 1874, decline of
on the closing price last evening
This mornings Ne,0 York Herald has the
following remarks in its money article:-
The railway share market has not snSSanea strees xae
Is again Ianguid There is, however, a more conf
dent feeling expressed in the stability Of values than
letter to the solld men Of the Hub and as the gen
eral inference deduced from that interesting spec
Of his epstolary style is that monetary ease may
be relied upon so tar as the OF the
action the stock Exchange is expected toensue as
pTesent prevaiing The letter declining the dinner
was evidently studied piece & Of Work S 5S ana pos IL Is
prandia speech in which he might have reviewed the
sboaS ad bo ns baye had another 4eTsiVe Fort
Wayne oraton teegraphed for the edihcaton OF
%eSs? Tery MI @ MoCuioch has much 10 account
for In h9dng @ 9t SO spsedy @ az
ofspecie The letter referred TO shows that
leading m them upon @ Subject or such PaTstnOHpt I'M
poIshce That a{ the & He ne ue ea repor be
entertained hopes of being able 90 accomplish what
lacked foTesght Or Believed TOO much in himself
when he made such rash 6 mere e9n %
Views undue though 1t was did far less damage than
ally confess that he was wrong; that his annual
report, promising q resumption of specie payments
this year, at the latest next spring was deuson
and snare, aud that the mischief he created all
Secretary Of The treasury should either not pub,
cly predict anyhng, or be perfectly sure OF his posi-,
anG spoken oTds that wise msn would have care
Iuly aNOlueu, anu ne iOfclBly remlnQS us tnat zoo
often fools rush in where angels fear tread Yet
Notwithstanding all this, he wishes appear in any
other character than that OF the repentan sinner He
asks permission 10 that he Is as much persuaded
as ever OF the Importance Of early return 10 specie
payments, and OF reduction OF the currency as .
means of checking extravaRance and speculation, ana
increasing production. Thet contraction VIII teng % 20
bring about this desirable state OF things he has never
doubled. So IL would seem; but as means 20 the emu
IN yiew-supposlng it 70 be specie pay aoes
not TO have been very successful ana IL nhy pe
confidently said that we are now turther removed @
from specie payments than we Would nave peen Two
years ago Ii the proper financial policy which we
advised had been pursued. Congress rs more 10
blame In this matter than the Secretary or the Iroa
sury; but between the two we nnd nnanees IN very
Unsatisfactory condition. ana the deceptive talk OF
return 10 sDecle payments 10 suggestive OF nothing
more Substantial than the mirage OK the DESERT We
have now nOthlnQ 10 look forward TO for long
time 20 but Increased debt ana heavy taxation,
and the ~ Will be scale TO render
traction possible whatever the views OF the secre
tary OF the Treasury might be.
"Ihe EOney Market mas been shade more active