The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-18
FINANCIAL AND COMMERCIAL,
SATURDAY. August lisp. n.

The railway share market has been without maiera
Vbsnge to-day although the bulls as one time made
strong efforts to promote activity Money continues su-
psrabundan and the leading dealers in government 90
cuies enabled to supply their wants q three per
cent although they ask I'VE for loans ON mixed collat
erals The banks generally lend at four per cent on
governments and other first class coilaterals to
houses in good credit. and at i've en- miscsla-
sneous securities The demand Tor discounts Is
Increasing and the banks willing to take
prime commercial paper at 5K ex per cent. Tho
drain Of currency westward during the week, the
redemption Of compound interest notes and the Sub
Treasury sales OF gold have materially reduced the bank
and the nsxs bank statement s likely to show
. decrease Of 6vs millions in deposits and six millions
end half in legal tender notes. The extent Of the
sales OF COIN by the Treasury may DO inferred from
the fact tina. the specie has increased about half mil
lion although the customs receipts for the week aggre
gated about three millions The defaicaton In the
Trsdesmens Bank has excited but little comment the
amount embezzled being too small the aten-
zion public long accustomed larger figures and
moro startling Irregularities
% Chicago journal Of Thursday thus speaks Of the
pect Of local monetary affairs:
There was again an active demand for money and the
ynarket Is gradually working closer Tue country banks
did not check to the extent noticed yester
day, bet this fully made up for in the demands Of
che commission merchants who eager applicants
for currency to send to their interior correspondents
Some OF the banks received remittanceS this morning
from York, and several others teegraphed tho
same. Tho mercantile demand for discounts continue
very moderate
New York funds were again very fat and we heard OF
no between banks at better than ITO discount
The counter Is lilo discount buying and par
selling
A Cincinnati journal OF the date remarks
Tho demand for money is active to-day, both in
Che line OF discounts and in The checking on balances
The outward flow OF currency to the country is ncreas
ing and the drafts OF the Treasury Department de-
postores are again largo this gives temporary close
In rlafn htc oT fha
year. LINES Of discount have been much reduced
during the summer and it probable that they will
DO as the fall trade will soon commence, and that will
give active employment to all capital now inactive.
As the wants Of that class OF the mercantile community
months pressed for recognition there is likely be
p close ii not stringent money Market to be relieved
country Rates OF interest arc firm at 10 per cent
between bankers and Their depcsors and 10 Il per
6rst class names ind little favor
Exchange is heavy, especially with those banks who
county banks are large and they draw sharply for the
currency The usual rates are Soc discount buyng and
par selling but lilo discount the best rate offered to
outside parties. Currency was ordered out from New
York to n moderate extent.
e AZ the commencement of business this morning the
railway share market was dropping, and Erie sold
low 70H but at the O'Clock session Of the open
board IL experienced improvement.
New York Central sold at 1851; Erie. 7oK; Hudson
Rvor 1913 u Il; Reading 1858; Michigan Southern,
Northwestern, 4615 u; do. preferred 7o1I q: Fort
Wayne. 1851; Pacific MAIL 1862 q Western Union
Telegraph, 45X "; Adams Express, IS; Merchants
Union, 3O-paid IS.
Al the first regular board the market duh firm
New York Central closed higher than the time
yesterday, Erie 4, Michigan Southern 4, North.
western preferred Is Hudson River y lower North
western ~
Government securities were moderately active and
vat tieso NJ adv Sfafa
stocks dull The express shares lightly dealt
In. Adams sold at a. American at y, and We,sFargo
at 66x ~ At the o'clock open board the market
was hrmer New York Central sold at 1865 N; Erie
7l,S ~ Hudson River, 124; Reading, 1867; Michigan
Southern, 829i u; Milwaukee and St. Paul. so; do pre-
fsrred 66 4 Rock Island, lo34 Northwestern, 46ss
DO preferred 70Z q; Pacific Mail, 1867 "a West
ern Union Telegraph, 45z Adams Express. TAX q.
American Express 49,
subsequently there disposition to sell
than to buy, in consequence OF the unfavorable
Hc,er of tho bank statement becoming known and
prices declined. At quarter to six the market closed
dull at the following quotations: New York Central
'1o5a y Erie, 7Oss X Reading, 1861 a Il; Michi-
gan Southern, S21t Al Cleveland and Pttsburg, 92ss
. %; Rock Island, 1857 "a Fort Wayne, 1O5K u;
Northwestern, 461s aX do. preferred. FOX x; Pa
ciHc Mail, 1863 q; Atlantic Mail, 1l2A x; OHIO
Mississippi Certificates 2714 III Western Union Tee-
graph. 45 u.
There a very moderate volume Of transactions in
Government securities the counters of the leading
dealers and absence OF demand foreign account.
The market closed dull at the subonei Regis
tered, 1881, l10H 1l0I; Coupon do, 1l1,s l1lS<
nvetwenes registered, 1862 lo9a4 no. five twenties
coupon 1862, 1lsss 1l37S do. 1854 lOs7s ITO do
1866, 1905 11OS do. January and july 1885 10Ss
ave-twenss, coupons 1867, los1s lossl tenorties,
registered 994 s9H tcn-forties coupons. 1929 l03
NTH hir
ties 1918. 1875 July sevea-thirtes, 1917 1918.
October compounds, 1864. 49, 1l9H; December
do, 1l75s 11sh; May do, 1885, III 1l7t4; Angus,
do, 11ea lleA; september do llj1l alI5s.; oCtO-
Der do, lis 11514.
Tue gold market strong, the range Of the day
having been from 14os AL and the closing quotation
140Ts lsi. There active borrowing demand
for coin than yesterday, and loans made at 1-32
1lo per cent till Monday The gross cearngs amounted
20 $751; 600. and the gold balances to 81 3iS 243
The decline OF ive-twenties in London 10 73a x was
tho immediate Of the advance The steamer
Tsutona took out s16 lis in specie the City Of London
Sos 100, and The Queen $4,000. The exports for the
week are thus officially stated
Steamer city OF Washington, Liverpool
1ou bars. $liIO00
Steamer America, Bremen
Foreign silver ACKNOWLEDGEMENTS. 1900
Gold and silver bars. ................... 1854 g37
Steamer MORO Castle, Havana
spanish gold. Tl3
Stesmsr Tea.onIa, Hamburg
Z. Gold bars. .................. THIS
Cnver CON lV,UOO
- Mexican svor..... ACKNOWLEDGEMENTS. $4,000
Steamer Tho Queen, Liverpool
. American d........................... $4,000
6tssmsr CITY Of London Liverpool
American gold. ACKNOWLEDGEMENTS. 47,037
So'd bars... ........................... 1881
Total for tho week. ACKNOWLEDGEMENTS. $6ol, sss
E""ousy reported. 3e.6145l2
Total ancs 40 o,o 60