The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-06-30
FINANCIAL AND COMMERCIAL.
sAruRnAY. Iune 2a-6PM

SATURDAY June 2s-6P.M
The excitement In the railway market shows no
signs Of abatemsnt and large business has been trans
acted to-day at Improving prices. There pcrcep-
tole nnux OF outside orders to buy however and the
speculative spirit in the street for the being
sunlcint 10 carry everything before il. The
UNEXPECTED monetary at time when
scertan degree Of strhgsnoy was looked for
ward to as the result Of the preparations
of The national banks for Their quarterly returns
sx1ted powerful influence in favor Of thu bulls and
at the same time goes to show that the banks OF
country generally are in stronger position in point of
than they previously supposed to be- and
that they stood in little need upon this occasion OF
making special efforts 10 fortify their posi-
ton The statement of the associated banks
OF this city for the week ending to-day
ia likely TO show in the legal tender notes
of about millions equal OF increase
n the deposits The loans have declined million, and
the specie 10 reduced TO the extent OF million anda
half The return win therefore DO q very fror.
able one. and in the present excited temper or
the street every straw Of this kind is - much
fuel added TO the fire Of speculation We have warned
the public against the fascnatons Of tho street. and
pointed out the danger Of sudden break in the market
at any time but danger little needed where fortune
TO aid this bull movement before cuminates and the
higher prices 60 the public support the street may
rey upon rule and tho heavier the losses Of tho
public likely 10 be In the end Although or three
Of the leading stocks including Erie active and
mercura than the rest there well distributed bust
throughout the list. and every stock responds TO
the common impulse Of tho street. Or the New York
Central Company 1t said that they have capitalized their
lease upon the Athens extension from Schenectady to
Athens, on the Hudson river the lease having boon
cost Of two millions OF dollars, in place OF which
twenty thousand shares OF the stock Of the company are
directed TO be Issued to those who built the
and placed II under the general management Of the
company. f&
There Is no noticeable change in the money market,
the supply Of capital being still in excess OF the demand
from the Stock Exchange at FIVE pcr cent govern
mens and SIX on railway and miscellaneous collaeras
The amount Of commercial paper Offering 10 too to
absorb any considerable portion Of the aggregate Of
loanable capital and hence lenders have to rely upon
the Stock Exchange for the employment or their funds
The best grade of paper still quoted seven per cent
with exceptional transactions at half per cent above
and below this rate, while sgood" names are rated at
sac
AT the ten O'Clock session OF the open board New
York Central sold At lo4x = X: Hudson, 1o0h *;
Reading. l0oH: Michigan Southern, rs 7sh; Cleve-
land and Pittsburg, IS So; Rock Island, s5Kax;
Northwestern. ASK 4X; do preferred 64zS 65;
Fort Wayne 1924
At the nrst regular board large business was trans
acted 10 oil the leading railway shares but prices
yielded saghty on tho CALL and the old express stocks
experienced further Decline New York Central closed
lower than 1t the Same time yesterday, Reading X
Michigan Southern Y, Fort Wayne Il, Toledo, Wabash
and Western X, Pacific Mail TX. Quicksilver n Canton
y, Adams Express 5, Wells. Fargo / Co. y, American
Express az. Erie was x higher, Michigan Central u,
Cleveland and Pittsburg 37< Cleveland and Toledo <,
Rock Island 4. Northwestern g. do preferred " Chi
cago and Alton u, Ohio and Mississippi certificates
X. Atlantic Mail x, Cumberland * Mariposa pre-
ferred TX. @AN
Government securities quiet and steady at ysster
days prosa
After tho call Erie declined to 65X; but at the one
o'clock open board the market showed an improving
tendency. New York Central sold ct 1041f; Erie 6oX
u; Hudson, 1ooK; Reading. 100 l0ox; Michigan
Southern, Tx 70; Cleveland and Pittsburg IS N:
Rock Island. o6K y; Northwestern, l3k 4; do
preferred, o4K Fort Wayne, 102x X; Mariposa pre-
fsrred, Is PAX; Western Union Telegraph, AK 49,
Following this Erie sold DIP to oeX but the advance
was not fully sustained and at halpas i've the follow
ing quotations current:-Nsw York Central 1olk
. III Erie, ooX 81; Reading, 1851 1oox; Michigan
Southern, Tx Is; Cleveland and Pittsbura s5k u;
Rock Island, o5x . X; Fort Wayne. 1o0A lex. d.;
Northwestern, 43x a y; do. preferred 64x X West
Union Telegraph ~ Ii Ohio and Mississippi certi.
ncates, 26xaX.
Government securities closed duh ON tho street a. the
suboiued quotations: -Registered, 1881, 10sk 100;
coupon 1884, 1l3 4; 5-2o's, registered 1852, 1879
81; do. 1892 llox y; 1884, lo7K a q; do. 1896,
l01X Y: do. 1855, January and July, 1l0H X;
1o4o's, registered, 1907 Ak; do, coupon, looI y;
August 7-3o's 1854 n; june 7-so's, l06k u; July
NJ r,v L.
August. 1lsk 100; October 1l7x us; December.
III Y; May. 1865. 116k "; August. 1i5k Ak;
September, lis . ii October, 1l4K 1854.
Tho gold market was very nrm the range OF the day
having been from 1855 to 1884, with the closing trans
actions at 15Sk. There active borrowing de-
mand for CON- and inadequate supply. which caused
loans DO made At rates varying from l-32 to per
cent till Monday in favor Of tho lender The gross
clearings amounted TO $780, 000 and the gold bal
ances to e1,2l6,37l. The steamer Pereire took out
$3.50. 246 in specie, the Hammona $780, 1853 and the
City Of Boston STA es7 making, with other shipments
q total for the week OF sl,i4o,09s The anticipated
effect Of the disbursement OF tho eighteen
millions Of coin interest the public debt duo on the
LIST OF July largely increased the short account in
the gold ROOM and hence the high paid for Dor
rowing gold TO carry over contracts from day to day
The daily range Of the week is thus sho~n;-
Hiohes. Lomet
Monday. ........................1 3sx 13s
TUESDAY. ......................-l3 sz 13s
wednesday. ........-.........l3oA 13S
Inursday .............. ..l3sH 137I
Saturday .......................l 1857 1887
American silver Is quoted at a Z per cent below
che price Of gold and Mexican dollars At I03 x, in
gold, 9 . ~ eN&8M.H .&&
The foreign exchange market Inactive and rates
were nominally unchanged. Bankers bills on England
oxfv n