The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-06-12
FINANCIAL AND COMMERCIAL.
TUESDAY, June 1l-eP. N

TUESDAY, June I1-6PM
The railway share market reacted this morning from
the advance OF yesterday and bearIsh feeling pre-
vailed; but In the afternoon it became strong again.
although the improvement not fully sustained at
the close The harvest prospects discussed with
much interest," and increased railway earnings looked
forward to as the certain result of abundant crops
confidence in which is indicated by steady decline
In the price OF breadstufs for than month past
Al the same time there little talk about further
reduction Of rates OF freight the leading lines
ming westward and this threatened competition acts
damper upon operations for rso, Is alleged that
the present scale of freight charges Of them
Improbable. The balance in the Sub Treasury this
evening shows material change from that OF last
evening" the amount being s13a, 4O5. $685. The policy
OF the Treasury in accumulating the large aggre-
gate Of currency which it held on the 1st inst
continues to be severely criticised and generally
heved that the excessive sales Of bonds in May well
the sudden suspension OF those sales were premed
tated and influenced by motives OF favorsm corrup-
ton Certain is that those who bought the bonds
when the Treasury sold them now enabled to sell
them out at profit Of II per cent and this differ
ence might have been saved to the Treasury by
gradual feeding Of the market in addition the
further saving Of interest the bonds prematurely
issued is understood that the Secretary of the Trea
sury made agreement with certain parties sell
stop and it is to how valuable such agreement
might be to the purchasers of the bonds which, by the
way not TO paid Tor until after the buyers had
themselves sold them.
Tho money market has shown increased ease, and
some of the principal stock houses gave notice morn
ing that their per loans would paid of IL
they were not reduced to six Seven per gen.
orally asked mixed coaterals, but there was some
difficulty in employing funds at this rate and gov.
eminent collaerals the six almost
without exception. The expectation that the dlsbuse
ments Of the Treasury during the remainder OF the
month will considerably exceed its receipts currency
gives certain degree of confidence in abundant sup
ply OF money for the fortnight but the prepara
tons Of the national banks for their quarterly returns
the LIST of July likely TO active demand
for money. After the middle of July, however
ifa goes well with the crops, sharp upward move
ment is generally looked for and this anticipation is in
fuencing the course Of prices 1t may be, how
ever, that what every says is coming will never
come The discount line is without perceptibe change
and the best grade Of paper quoted at
8 per cent.
At the first regular board the railway share market was
rather heavy New York Central closed x lower than
at the same time yesterday, Erie e. Hudson River IA
Michigan Southern n Cleveland Ptsburg a. Cleve
land and Toledo u, Rock Island ~ Fort Wayne Ia Mil
waukee and St Paul preferred y, Pacific Mail a. Boston
Water Power !. Reading q higher, Northwestern
Il, do. preferred u, Atlantic Mail a. Government
securities were firm. Coupon ve-twenties Of 1862
1856 showed an advance Of u and the 1885
of u. Tennessee skies advanced /, new issue 4.
At the one o'clock open board New York Central sold
al a1a<. Erie 5o75 so; Hudson. los Cleveland and
Pittsburg, 7ex; Rock Island ssA "; Northwestern,
s5K; do. preferred, 5sK <; Western Union Iele7
graph, AK II.
~
stroag and the improvement in prices general New
York Central closed u higher than at the st regular
board, Erie u, Reading M Michigan Southern u,
Rock Island X, Northwestern y, do. preferred ~
Pacific Mail 4. Government securities steady at
the morning prices with the exception OF seven-hires
OF the second series, which declined u.
During the rest of the afternoon there was moder-
ately large Of business transacted quar-
ter to O'Clock the following quotations cur
rent:-New York Central, 92H AZ: Erie. e09s a u;
Reading 1o7A n Michigan Southern, 6sa4 u;
Cleveland and rttsburg 761s y; Rock Island so14
n; Fort Wayne, OK x; Northwestern 354 q, do.
preferred, s9ss ri Pacific MAIL 143 a u.
Government securities were firm and somewhat ex-
cited the close Of business the suboined quota
tions lss1 coupon 112X y; $40 coupon 1892 1927
q ITO; $40 coupon 1884, 1857 q; $50 coupon 1885,
106x o y; $40 coupon 1865, new issue, 109H u;
lo4o coupon, 99x 100; $40 notes. first series, 1ooK
ak;73-l0 notes, second series, 1861 q q; Z $40
notes, third series, 1861 ~.
The Sub-Treasury is converting August
thirty notes into ve-twentes Of the issue Of 1855
by allowing the interest the former up to the LIST
July and delivering bonds with tho July coupon cut e
The gold market steady, the range Of the day
having been from 1917 at the opening to 1879, with
the closing transactions at 1879. Loans made
without interest and per cent for carrying The
gross clearings amounted to and the gold
balances to $1,255,4s5
Tho foreign exchange market was firm and bills con-
tinuo in good demand. Bankers bills England at
sixty days quoted at l10K; at three days.
10Y x; commercial bills 1925 q. Bills on Paris
at sixty days Six 515 at three days, $40 SHY
Other bills were rated thus
Banker. Commercial.
On Berlin. ............. 72S 72% 72 a72z
On Bremen. 7ss4 7o,s 1914 7eK