The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-11
FINANCIAL AND CONNER GAL.

thirty notes OF the dated June Is 1885,
The closing transactions in the were at 1881
1881, but subsequently, on the street, the quotation
declined 1881 l43ss. There active borrow.
ing demand fr coin, and loans were made without
interest and at 9 per cent for carry.
ing and Lilo per cent per dem for bor-
rowing. Tns gross cearngs amounted 70 500 227 o0O
the gold balances to sl,535, s3l and the cur
ssncy balances s. 1856 a26 The market is At present
under political manipulation and the democratic POOR
IL heavily shor the object of the operation in gold
being moral effect aud pecuniary profit combined But
the OF this depression will also provoke reaction
and those who look for declining market gold will
nnd themselves mistaken. The Treasury is understood
20 have sold freely 10 prevent rise growing out OF the
disrust occasioned by the seventhrty sensation.
1t was known to few interested parties early in the
day that sesenthirty had been returned from the
Treasury Department Washington 10 the Assistant
Treasurer here which pronounced to be counter
teits, but II not generally credited the street
until afternoon when Of the rejected notes wore
% be the oics OF dealers government
curites who were unfortunate enough to have bought
them. These had been purchased exchanged for
bonds by the Sub-Treasur5 without anything spurious
being detected about ~ m, and some OF them wore
prqsensed this morning Of the Sub-Treasury
odaciais ana pronounced genuine. The resemblance
between the genuine and the o-caled spurious
notes Is so exact that 1t is impossible to detect
difference except such ID Of common
occurrence in the genuine respects shade In printing
and margin in paper The suspicion therefore enter
tainedand this amounts to belief in minds-that
these rejected notes printed from the plate
- the recognized hrties of SERIES and
chat the Treasury has only discovered the rregularty"
through duplicate numbers vague idea is enter.
tanned that there is truth than poetry in the
A6.~
mont of over is.ues and want Of proper care in
keeping the bond and note plates and paper from
dishonest hands. Whether these rejected notes
are genuine spurious. however, the effect
upon the public mind VIII be to create dstrust
and to cause seven thirty notes to be sent for redemp
son or conversion from all OF the country All
bho so-caled counterfSits OF the denomnato OF
shouand dollars and they thus far appear to have found
their way TO this city from the West They show signs
OF having been handed good deal, and II they are
counterleits they the skilfully executed
have seen, although some profess q differ
once in the size OF the seal To what extent these
worthless notes in circulation is impossible to
1t present but from the appearance Of those discovered
Il to be Inferred that there are many more like them
The stock market been depressed to-day, and the
speculative feeling in the street is becoming tame again.
Eric attentvey watched but the clique manipulating
shown to speculate in it by those outside Of the ring
Money easier than it has been for fortnight past but
prices decline instead OF rising expected by the
bulls more treacherous and unsettled market has
seldom been seen, and It IL likely to continue 80 for
ONE time 10 come. Tho natural influences Affecting
The Stock Exchange in favor Of decline but arti
eal powerful for temporary purposes that
Il Is matter Of uncertainty how far the market will
Sisld to Legitimate pressure within given length Of
lime.
There brisk demand for money from the stock
houses but the supply fully equal TO II at seven
pr cont, and there was the WHOLE than
yesterday, although lenders have difficulty in en-
pioying thor funds at tho legal rate Discounts
usi made with great caution and tho banks, a rule,
refuse all paper thar not first GLASS; the rate for which
ranges from Z to per cent, only customer paper
bSng taken 1t the lower rate. The drain Of
rency westward IL for the time being on . reduced
scale; but the pork crop will quicken It In
November, at . time when tho flow southwark
70 move the cotton crop win be largely increased
In volume The that the Sub Treasury balance at
this point is reduced about hundred and eight mil
joins favorable TO greater monetary activity, a. the
receipts Of the Treasury ~ this centre are likely 70 be
greater than its disbursements for some weeks TO come
bst in ve~ OF the crop movements the department
hould keep currency balance low possible for
Al the carly session Of the open board the stock
ses was heavy. New York Central sold At 1l3k ll3h
krie 0s4 90; Reading, lolI; Michigan southern,
pk; Cleveland and Ptssburg. s2H So; ROCK Island,
lo2,I 1os Northwestern 43h do. preferred. e71s
Ek; Fort Wayne, 1904 alo0h; Western Union Tse-
uaph 80 Il . 36x.
Al the first regular board the market active, but
lightly lower under general disposition to realize
Erie New York Central and Western Union Tssgr aph
tsrs the most largely dealt in OF the railway shares
New York Central closed TX lower than at the same
lime yesterday, Erie /, Michigan Southern e, Cleveland
md Pittsbarg Clev Gland and Toledo l. Rock Island
r Northwests ~ do preferred IL, Pacific Mail X,
western Union Telegraph IN. Toledo wabash and
Western vas Y higher, Milwaukee, and 81 Paul *, do.
Vssfsrred ~ Canton l. Government securities dull
roupon nvetwsntss Of 1865, ssus, closed y lower
coupon teu-fortiss u, ssvsuthrsy notes. second Sc
nss, Y.
At the open board u ono O'Clock, Erie having pre-
viously sold down to es,s, the market nrmsr bus
1uil New York Central sold At lax 113,s; Erie, 90
eoK; Hudson River, l2S lex d.; Reading lolX .
to1X; Michigan Southern, s3k sax; Cleveland and
pitisburg, s2ys RccK Island 1921 1o3: Northwest
rn. 42Ts 43; DO. preferred, 67k Fort Wayne, look.
Afterwards the market barely steady, and 81 the
second regular board Il showed . dropping tendency.
New York Central closed Y higher than 1t the nrst
SECULAR board, Cleveland and Pittsburs ~ Northwestern
preferred " Western Union Telegraph y. Erie was y
,swer Reading u, Northwestern V, Toledo. Wabash
and Western Y. Milwaukee and st. Paul y Ohio and
Mississippi certificates u, Canton Y. Government -
surtss heavy but dull. Coupon nvs-twentiss Of
lisa closed lower issue Of 1854 " issue Of 1851
~ There were no transactions in ssvsn-thrsy notes
bat the June, or second SERIES quoted .. 1854
1855 against 100 yesterday.
At the last open board market weak and there
Was considerable pressure TO sell New York Central
sold .. 1885,; Erie, osx . 6sK; Reading, loix;
Michigan Southern, s2,. s2ss; Rock Island, o7h;
Cleveland and Pittsburg 50 sax; Northwestern, 42K
. az; do. preferred, esH Fort Wayne, 0oH 100;
Western Union Telegraph 3s,[ Daring the rest Of the
afternoon the market somewhat unsettled, and u
sx o'clock the following quotations were curent:-
New York Central, 1isx . lls1; Erie. osss; Hudson
River 1877; Reading, 1olk 1olh; Michigan Southern,