The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-02-24
FINANCIAL AND CONNER CIAL

It. N
The stock market has been dull to-day and although 1t
showed considerable hrmness during the morning it
exhibited yielding tendency in the afternoon The
supply Of money less OF the demand than
at any time within the week. although the rate for call
loans on ordinary coateas remained steady at six per
cent and government securities at Ave. The discount
line continues moderately active for these dull times
and the best grade Of commercial paper passes at
seven per cent, with exceptional transactions al
six and half II is not generally expected that the
Senate will pass the House bill providing for the issue
Of hundred millions OF plain legal tenders In redemp
ton of compound interest notes. but some kind OF
compromise guarding against undue contraction Of the
currency looked forward to- Congress can however
pass economical measure than that referred
TO- and II fails it will not be through zeal for the pub
lilo interest," but because Of the solcude Of Members Of
Congress serve the national banks by giving Thorn
interest bearing security available . legal tender
reserve
At the ten O'Clock session Of the open board railway
shares were firm. New York Central sold at 1921 u;
Erie, 6e7S q 81; Reading. lO4h; Michigan Southern,
73k u; Cleveland and Pttsburg s0K q 81; Rock
Island OK e7N; Northwestern, SO s6H-do pre-.
ferrcd, e5X Fort Wayne, 81. There sales OF
Pacific Mail at 1913 120 At the first regular board the
market without material change the OF bus-
being rather light and the speculative feeling quiet
u,
with sales OF $500 shares New York Central closed x
higher than the first board Thursday, Erie " Hud
az, Reading x, Michigan Southern Y, Cleveland
and Pittsburg l. Rock Island u, Northwestern !, do
preferred ~ Fort Wayne e, Ohio and Mississippi
tiHcates n Pacific Mail ga, Canton u, Western Union
Telegraph H. Atlantic Mail was 81 lower Government
securities duh but steady, the exception being
advance OF 4 In fve.twentes Of the new issue. Ten
nessee skies were X higher.
At tho one O'Clock open board the railway
share market steady New York Central sold at
1928 q; Hudson, 13S 1881; Michigan Southern,
73k Il; Cleveland and Psburg, s14; Cleveland and
Toledo, 11sH ts3; Rock Island, 97A; Northwestern,
3ek-do. preferred, 65I; Fort Wayne, o.; Western
Union Telegraph, AZ AK. Subsequently Il became
heavy under moderate pressure to sell and dimDshed
demand, influenced by belief that tbs bank statement
for the week would be again unavorabe in consequence
of the drain Of currency into the subTreasury in pay
men. for fvetwenes Of the ISSUE and that this is
likely to be the the large balance held
bv II this evenng-namely, s132, s52, S5l-would
seem to 'nd,ca.ss A. bali past i've the market
was somewhat unss! :led. IL iHs following dd0lai0fs-
New York Central, 1924 X: Erie, 5ex = X; Read.
ing. 1o4H; Michigan Southern, TAX II Cleveland and
Plttsburg. soy; Rock Island, eesl or Fort Wayne,
95k; Northwestern s5h u; do. preferred, IS 651;
Western Union Telegraph ~ 42H; Pacific Mail, l31
lS2
Government securities lower towards the close Of
business and the prices current the counters Of
the leading dealers subjoined Registered,
1881 l10H u; fve-twenties registered, 10TH los;
fve-twentes coupon, 1856, 10SH 100; ten-forties,
coupon, 1918 a u; August seven-thir,ies, 1861
1osA; June seven-thirties, 1855 III July seven
thrties, 105xaX.
Tho gold market was arm at 1881 u during the
morning. and in the afternoon IL declined fraction
and at three O'Clock closed at 13sK r. Subsequently
sales were made At 1Ss u. The borrowing demand
was supplied without interest," and At Lea per cent
in OF the lender The steamer St Laurent took
out S2S6e00 specie, the Hermann $3.50 900 and the
City of Washington $l4,3s0. The decline in hvetwen
abroad not without effect In strengthening the
Market and the prospect Of the President vetong tho
Reconstruction bill operated In the direction. Tho
armness Of the rates Of foreign exchange, meanwhile,
Its most substantial support The daily range
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