The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-07-06
fiNAN GAL AND CONNER GAL.
FnpAY. July Sop. N.

PINAN ClAL AND COMMERCIAL.
FRIDAr. July s-sPM
TIE railway share market strong this morning.
md prices experienced general advance. but In the
sfternoon there pressure TO realize pronts
md decline Of about per cent from the highest
point Of the day took place. The temper OF the street
very bullish but the transactions are, with few
eptions confined V the brokers and professional
psoulstora
Money was even moro abundant than on Wednesday
md stock houses good credit supplied their wants 1t
per cent. while Of the dealers in government
.scurtss had balances left with them At four The
Isusral rate asked, however. for small amounts.
sas six per cent; but there was very little en-
ployment for capital ct this There 10 percept
bic increase in the supply Of commercial paper Offering
for discount and The best grade quoted at per
cent
Railway shares were strong At the commencement OF
business q advance upoa the closing prices Of We'd
hesday At the first regular board the market opened
slight Decline but recovered the call progressed,
and 81 the second call the highest point OF the forenoon
was touched. New YORK Central closed higher than
~ the same time Wednesday, Erie I, Hudson River
X Rsading Y. Michigan Southern *, Cleveland and
Pttsbu.s u, Cleveland and Toledo y, Rock Island y,
Northwsstera prefsrred x, Fort Wayne y, Toledo Wa
bash and Western e, Chic and Mississippi Certificates
r. Pacific Mail r. Mariposa preferred e, Western Union
! Telegraph 4. Northwestern Was x lower. Quick
IDlvsr n.
Government securities strong and excited. Cou
pom I'VE Of 1862 opened at Ill and sold up
1lk the issue Of 1865 opened as 10Sf and advanced
% 1888, and the new issue Of 1885 At 1857 and adj
vanced to 107K Subsequently there further Inn
provement Of xaH per cent in these stocka The
State stocks nrm with the exception Of Missouri
Sizes which declined x. Tennessee skies rose per
cent; new issue y. The Express stocks were steady
and quiet
Al the one o'clock open board prices slightly
lower and the volume Of business rather light At
che hapast two regular board there further de-
cline and no increase Of activity. Now York Central
rosed " lower than at the first regular board Erie y,
Hudson River y, Michigan Southern y, Cleveland and
Toledo ~ Rock Island u. Northwestern ~ do prefer
red 4, Fort Wayne u, Ohio and Mississippi Certificates
u, Pacific Mail Y, Boston Water Power 4. Mariposa
preferred 4. Toledo, Wabash and Western l. Govern.
/ ment securities were Arm
At the open board at past three O'Clock the
ket barely steady, and quarter to six o'clock
New York Central was quoted at 1855 u; Erie, 67X
b es; Reading, 1ooX y; Michigan southern. SIX q
~; Cleveland and Pttsburg, s5X sok; Rock Island.
pex y; Fort Wayne, 10oK 1o1; Northwestern, ASK
r.; do preferred, 67a Ohio and Mississippi certif-
Gates, q u; Pacific Mail, 14lA "; Western Union
Telegraph ASK *; Cumberland, s6]S S71a; Canton,
Ala u; Quicksilver 3lX 80.
There was heavy business done in government Sc
eurtes the counters OF leading Dealers well
st the board The demand for investment is stimulated
By the large amount Of unemployed capital afoat,
md the upward tendency gold influence In the
same direction far the gold bearing stocks
cernd for theremum rises the rate OF interest they
bear currency increases proportonately. The Ave.
ewooty bonds Of the Of 1885, known candy
Johnsons," are, by Of their low price, still in
special request and considering that they bear the
rate Of interest the original ISSUE and have longer
slime to run, they a valuable stock. Yet the
bonds Of 1862 are selling within fraction Of 112 while
che former only 1073E u, the Of which
difference 10 that there is q foreign market for the
original issue, which there Is not, to any ma
serial extent for the other. There Is do.
sided preference shown for national railway
securities, and until the present monetary plethora Is
diminished they likely to continue in active demand
advancing prices 1t il little less than reproach to
us a q nation that securities should rule 80 low
when they bear such high Of interest in gold We
dad New York Central-a six per cent railway stock
selling at lug, while nvetwcntics bearing the
OF interest in god and issued by the government,
only per higher Fve-twenes OF the original
issue quoted 1t 72A in London, while British con-
Sos which bear only three Per cent interest," are 9lK.
1he comparison IL humblns to "; but so long As We
estimate our securities ~ % low . value
nations 70 do any better by Them The London market
for Is made iu New York; and the remed
wherefore lies home At the close Of business the
market nm a. the subjonsd quotatons:-Regis
asred, 1881, 10oH "; coupon, 1884, 10o1s Y; $40
registered 1884, 107x Jos; $50 coupon, 1862, l11
II n: do, 1894 105K q z; do, 1865, 1883 a y; do.
DO, January and July, 1914 u; do, 1857, 1914 q
IS; 10 40 registered, 1914 u; do. coupon 1923 q
*; August 7-30 1o7h a u; June do, lo7 y; July
III IQn
do, llsk a 49, october, do, l17Z lis; December,
1l5k q u; september, do. ll6 "a; October, do,
HAY . lis.
Gold was excited, and after opening at 139, advanced
70 1902 but after O'Clock 1t developed reaction
Wy tendency and sold down to 1851. The closing trans
Lcsions were 1884 There more active borrow
BE- demand than on Wednesday and loans were made
Without and at rates varying from per cent
pr borrowing 10 4 per cent for carrying The gros'
asaranccs amounted ssl o32 900, and the gold bal
ncss 10 81 COS The upward Of the premium
as influenced by spprehsnsons regarding the action OF
sis and other countries in relation Mexico, grow
Ag out OF the murder OF Macmillan BY
-uarsz Is well as fears that Congress may
~ or do something calculated 10 advance n. The
bef prevails that the disposition Of Congress 10 moi
oily unfavorabis 70 contraction but favorable 10 the
fvther initiation OF the currency.
n tho foreign exchange market there was lit,l'
activity than usual OF late, but rates nomi
,aay unchanged. Bankers bills England at sixt,
Digs quoted Al ITO y; at three days 1lo3s q
commercial bills, 1923 y. Bills on Paris at sxty
lays. 613k 612H at three days, 611X 61oH
ltang shares we're neglected Al the FIRST board
Coyeon sold At - os Smith and Parmclee, "a IS 10 81
yTakia Lead, tsc. IA 81; Quartz Hill, 81 81
crsos and American securities were quoted thus ID
n,oudon 10 day and previousy;-
June 20. .J,y1. July S
floEnls...... W V}A Wy
n nfed states nve-twenties a.. 70 tax 72s
40A - ~
NtimS central. 1gA 1oX .s9L