New-York tribune., 1867-09-10
PETROLEUM AND MINING STOCKS.
FIRST BOARD.
MONDAY, Sept. 9-P. N.
GONfRNMfNl llEfAhi - -
- IL = a. h.On lnnni g. II y 4

Gold continues to advance, closing at 1884, after
sailing at l44f The clearings at the Gold Exchange
Bank were s5S,922, 600. and the balance <s5561o
y Governments are barely sustained and TO make
large sales lowerprces must be taken In state stocks
and railway mortgages small business. Bank stocks
are steady. Express stocks are saable at former
rates Railway shares opened quite firm at the ad-
vance of Saturday night. but the demand was light
After the call the market dropped Erie 10 6Ss The
supply on the street is larger than ever known,
and it begins to be heavy the hands of its recent
buyers. As the Common and Preferred have alike
passed from the dividend list, and have value be-
yond the power of selecting the management,
present prices for it are dear. The whole market
sympathzed with Erie, and was lower. AT the
Second Board the market improved fraction and
after the call Erie sold up to CO. closing 6Ss bid The
market closed irregular but was rather firm at
closing quotations: New-YOrk Central, 1O6al0GB;
Erie. GSsa6Ss; Reading 1O2sGl02s; Michigan South
ern 81, ,aS9s; Northwestern, common, $685.;
North Western preferred 20, a7Os Cleveland and
Pittsburgh S. Rock Island, ,104s 104a; Fort Wayne,
100. ...
Money continues easy at 405 per cent on call. In
commercial paper no change The Bank Statement
IS not considered satisfactory The deposits up
largely but they the proceeds Of compound nOtes
sent from the interior for collection, and will be
drawn for rapidly. The drain of currency from the
interior continues, and country banks are large bOr
rowers upon the best recevables. There is general
disposition to shun long engagements and interest is
not so much thought OF as conTol OF capital.
Foreign Exchange is inactive. Bills at 20 days on
London are quoted at 1O9s01O9s for commercials
O9QllO for bankers do. at short sight, 1891 ll0l
Paris at 60 days, SIS. 65l5; do at short sight 5150
512!; Antwerp, 5.ls.Q515; Swiss, 51ssGJ15; Ham
burg. IS. 8SGB Amsterdam 40i94l; Frankfort. 40l9
Il Bremen, 7s.G7ss; Prussian thalers, n az
The items in the Bank Statement show the follow
ing changes ...o. -.-...
s,... Aug 4 g, 81 81, ssgt ~; I'M, .ese %,
Legal tenders..-.- e7sS257l e9e57445 Inc l724,s74
Total reserve. s75,2ol166 S7,s25c64 Inc.s242O,sss
Deposits ls0s92a5 l95le2ll4 Inc 42s9,7g9
CirculatiOn....-. SS7l5,l2S sS,7Osl72 Dec. 1886
Total liabilities t2e4eo7443 s228ssc2ss Incsi2c4,84s
Rs per cent..;..- Se,iSl.Sel 57'2225n
reserve sl2Ss2sss s29o2 433 ses Inc s5Sls$
The statement shows a general expansion with an
increase in the surplus of reserve of 81 S5O1ss,
small when the extreme depletion of the Sub
Treasury balance is considered. The banks closed
the week upon declining average, aud have proba-
bly, made the best showing TO be recorded during the
remainder of 1867 The recent bank failures and the
summary action taken by the Bank Controller will
however, stimulate the banks throughout she eoun-
try TO strengthen themselves in view of the quar-
terly report TO be made in October. The more eff.
cent the Controller is in winding up the rotten part
Of the system the better it viii be for the survivors
The steady advance in gold calls fer prompt action
by the Secretary of the Treasury who has it in his
power TO check this evil and at the same time pro-
mote the interests of the Government and the SOL
vent part of the people. This remedy will be found
in the sale of $50 bonds, long as they will com
mand par and accrued interest, and boarding the
currency obtained for them. BY this process he can
speedily produce at all points money market strn-
gent enough to drive all spectators upon margins in
gold or commodities out of the field He can at the
saQe tpe procure the money with which the cpIq- J