The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-10
FINANCIAL AND COMMERCIAL.

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FRIDAY August e-6PM
The railway share market co.. 't'nucs unsettled and the
weakness OF Erie checks specu, a'on Tor RISE The
unauiuty OF opinion which prevailed fortnight ago as
to tho future course OF prices given iaca TO division
and a certain degree OF Generalization. cnaer which
there are more sales than purchases the
unusually ample monetary facilities at the Disposal OF
the Stock Exchange This arises mainly from the fact
that the market Is without outside support, although
there have been brokers and professional spccla
tors operating Of late than for long tmc previously
The recent decline has reduced the margins of many
the latter and thiuned tho ranks OF the bulls, whic II
has recruited those of the bears S)me OF the props
which sustained the market having been thus with
drawn, has reflected its uncertain condition and tho
conendng OF speculation in feverish fluctuations
depression How long it will rcman in its present
state depends upon the amour, OF pluck and money
which the bulls bring TO bar In favor OF higher prices
but may be safely assumed tha, tho decline will not
progress continuously who money remains cheap and
abundant II the general marse, could be entirely with
dra wn from the influence OF Erie better feeling would
a. once take possession OF tho street. and the "sor
interest which has created would materially assist
the rally that might be expected But Eric is for tho
time being dead weigh, It, and would he posi-
tive advantage 10 the bulls IL declined n, once 70 tho
turang point of fresh rise instead o: Occupying weeks
in reaching s'hard paa" There is obviously Induce.
uen for the pubic TO buy stocks a. tho quota
tons, which s high, and we may add that it is
equally dangerous sell thon "shor;" present not
vi,hstardinp, for nrle, moro liable to a sadden
rise than oyersold one.
The condition OF the loan market changed Money
is offered to first class houses at four per mixed
coaicals although tsc general rate is two e later
and four government securities, while the principal
dealers in go-cramrpig onaJ!od to borrow large
amounts at three. Tro'a Is slight irc-easo
in the supply OF c-nne.cal rapar oGcsins ir
qGarcrs but the amount discounted Is vcry small
the banks refuse all moi strictly FIRST class the e for
which ranges from six to seven cent, with mo1 OF
the transactions at six aad half.
A. to carly sion OF Tho optn baard railway shares
were STEADY at Slight slsa7cs unon the closing
OF last evening Eric selling at GS At tho frst regular
loard The improvement. WAS LAST aud there was some
PRESSURE SCI, the tone OF the mark ct bcag eyersh
Erie was Tie wcakes, of tho speculative stocks. New
York Central closed 4 lower than at tho yes
terday, Err, TX, neadlna u, Michigan Southern 81
Cleveland 6; riissburg 2@, Northwestern ~, 90.
preferred u, Fort Wayne IL, Tolclo Wabash I;
Western a. Ohio G. Mississippi certificates IL. Pacific
Mal 4, Western Union Telegraph 70. Government
gold bearing securities baray steady Coupon five
tweutics of 1862 declined y thirty notes Of the
Grst series advanced r. Tho express shares were
neglected. Among the State stocks North Carolina skies
advanced 4.
At the opcn board az O'Clock the m,ri.e
rmer Ere selling up 20 Css bu. a, TIC second regular
board Eric was dropping, AMI there absence OF
speculative animation Erio closed u higher than
the FIRST regular board, Rearing x, Michigan Soa,heru
q. Cleveland aTT pl.sb.rg !, Northwestern q do.
preferred 81, Fort Wayne r. Ohio aud Mississippi GER
tiGca,es a, Atlantic Mail n Rock Island was u over
Pacific Maii a. Government securities dal AMI
hardly steady. Coapoa GrotwcD,cs OF thonow issue OF
1896 declined &. Tennessee sixe, new, ARRANGED Is.
AT the half-pas: three open baa.c Ito marie. was
fraction lower Erie selling at o!7s. rarposa prafe-rc
sold 81. telegram from that estate reports tha,
tho Lac. two weeks Of tho nil, qassiz
TAX from n Josephine miro yielded average OF for
GTo dollars per ton purug the resi- OF the afternoon
the of the markc: vas lrlncr, although II re-
mancd dull aud at six O'Clock the follow as prices
currcnt:-New York Central. 1oi9 a X; Erie esk
81; Beading, 10.S a x; Michigan sog,hern Sozs 81;
Cleveland and Ptsbur-, o3,i: Rock Ts.aad 1925 a VI
Fort Wayne, los u; Northeastern, 49, u ; do
rroferred coz 81; Pacific Mu lass! lac; ono ana
Mississippi certificates, o7, Western Unica Telegraph
sax
Tho following IL csmp3rs OF prcoy or tho cadinr