The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-03
FINANCIAL AND CONNER GAL.
FRIDAY, August 90 p. n

FRIDAY August 2-0P n
The railway share market continues unsettled under
the manpuaions OF operators who are anxious to make
Il appear weak possible and to induce sales 70
realize some Of these were recently acting with the
bus having sold out portion Of their stocks they
are now cooperating with the bears in order that they
may DO enabled to buy them back at profit 1t IL no
tcsbe however that largo stocks are pressed for
sale and that the decline thus far has not been I'm
postanl The design Of most Of the leading spectators
. to buy for fresh rise and even the bears believe
khat the present depression IL only interruption Of
khs bull movement and that considerable break ID
likely 10 take place while the prevailing none
cary case continues II We were to judge
By the experience Of the last few weeks
CHS would Seem be the case but whether the general
expectation disappointed or not 10 matter Of little
Consequence except 10 the spectators concerned Erie
continues 70 resist the decline subbornly than
Any other stock the list, while Michigan Southern
abd tho Northwestern shares are the weakest
I The supply Of money continues superintendent, and
loans are made freely mixed colateras at ave per
cent and In some instances at four while on govern
neo securities the general rate IS four although the
principal dealers In thess enabled to borrow most Of
the funds they require at three The demand from tbs
Stock Exchange only moderate just now owing TO the
Temporary tull In speculation. There is porcepbo
increase the amount OF commercial, paper offering for
discount and the best grade passes at per cont at
the banks but inferior signatures arc declined. The
Western money markets easier than they have been
Or late and the exchanges between East and West
About equally balanced The demand for discounts at
tina local centres is light and currency balances nro in
treasng From Chicago journal Of wednesday we
quote the following 10 this connecton:--
Business matters remain quiet aud there IS an entire
absence OF features with which TO relieve or vary
The stoI eoiyped condition Of affairs. The weather
mains nc and the harvest progressing SUCCESSFULLY,
And there IL general indication manifested upon the
part of produce dealers to delay operations until the full
results Of the harvest known, aud merchants
compelled to remain inactive until tho harves. is over
ind the farmers have realized upon n portion OF Its
fruits and placed themselves In position TO pay up for
old purchases and make new ones The supply OF cur
quite large and the demand for Il light and the
most experienced bankers say they have rarely witness
cd such market on the eve of great harvest as
Ye have day Eastern exchange was rather quiet at
par between the banks Counter rates steady at
l10 OF per cent discount to par buying and 10 OF
kor cent premium selling.
At the early session OF the open board railway shares
dull and fraction lover than at the close Of bust
ness las. evening Eric selling at 755S and New York
Central at 1906 AT the FIRST regular board the market
steady at the decline and there pressure to
sell. New York Central closed y lowor than at the
same time yesterday Erie u, Reading s. Cleveland and
Toledo 1, Rock Island "a Northwestern IN, do. pre-
fsed 4, Alton and Terre Haute preferred u, Ohio and
Mississippi certificates r. Pacific Mail n Quicksilver *
Canton higher. Government securities we're firm
ana moderately acuve coupon nVe.tWentles Oh looS
allowed advance of H. issue Of 1855 4, seven-thirty
notes Of the frat series e. The State stocks were dull
but Tennessee skies, new, advanced N The old
express shares strong and in good demand Adas
closed at advance of Q selling at 1917; Amer o.
Rk, selling at TX; United States Of l. se''"s
and Wells. Fargo & 10 OF u, selling at arr ., AIN
At the opcn board at one O'Clock ~. 49," .o.u,.-
ont armer, and Erie sold at 7el ~ ,no 80,
board tho dulness cor.-seu' aNe Ne" ,.-s,.~
tho Arstr Reading
~ MichIgan southern 81, Fort Wayne u, Pacific Mall
~ Rock island " Northwestern u, do. preferred u,
raotoo " Government securities were inactive but
hrm aud coupon fve-tweutes Of 1855 and tenfortics
advanced y. state stocks were neglected, Tennessee
sxes excepted which advanced q, while the new issue
declnod u. The express shares reacted slightly from
the previous advance Adams closing x lower American
Z, and Wells. Fargo Co. u, while Merchants Union
With twenty pei cent paid, sold at IL, and, with
thirty paid, at Tx 1S
Al tina oman board at haf-pas. three the market vas
barely steady, and subsequently prices experisp'ed
Further slight decline. At six o'clock the fe'owius
Quotations were current:-Ncw York Centres WA =
i05; Erie, 75x Ak; Reading 1885 b m'en'san
Southern, soX . u; Cleveland and Pit,ourg' - -
Rock Island, 10lk "; Fort Wayne Soh = N'''n.
western. AK u; do preferred, 'oH ~ quo saa
Mississippi certidcates. 20 u; "es''rn on''" A''''
graph. 47ksH
.r,,,,s. tr,nsscte.at the counters OF the leading
a.,ers and the marpt closed steady At the subjoined
-.c...,-Rssisterad 1881, ITO k coupon 1881, 1l0k
.r.sao,. repstered, 1852, 1851 loa 5-2o's, cou-
NON. 1ssa 1pH 1l2h; do, 1884, 1oe's Nj DO,
1eas 1oo. no. do, do, January and July 1881 y;
Al ,say 1857 vi 1o-4o's registered ss u; Io4o's,
.or,o, 1929 . y; August 1905, 1o7x q; June
v.~s, 1875 AK; July 1905, 1919 Y; August COM
,ounds, 1884, IIox q; October, d. DO, 1882 -;
December, do, do, 1l7;< a Is; May, do, 1865 11o%
117%; August, do, do, 1l5s ll61s; September do,
d. 1i511 -; october. do, do, 1l47s l15is; Gold,
140k AK
The gold market opened at 14o, and after declining to
1884, advanced to 1905, and the closing transactions
wero i40H. The rising tendency Of the premium was
chiefly due to tho increasing scarcity Of cash, which
caused loans made at eighth per cent per diem
10 favor Of the lender The rates paid for borrowing
varied as follows-l-a2 a.s2, ~ lie, a64, s.ei TO
gross cearapces amounted TO eS5 900, and ~ So''
balances to 81, ,05s.
The foreign exchange market was ~-''' anu 'i'
TRANSACTIONS in prime bankers sterlipr on 'e oas
Of IloX for thirty days bills, suorsu s-"u n"uu
=, sxtv days. were quot. at 1929 alloH; at three
A., I'M a ,,os.. .omncrcial bills, 1oex 1925;
Mn, an p.,i, a, eix,y days, 61sai a512H; at three
a.vs 511x a 6loH. oher continental bills we're
rated thus aan,,1., csnr,,r.;a,
O. O. P P:s%.a s.s 81: :5ss %:
2n Franfdam. .... al a 4osa Al
~ .ainourg... $500. s6Aa 80 35h
SB Antwerp. .6.ls,i ASS 5I71l a5.l5
Tho probability OF capital hiding way from Europe
10 this country in consequence Of the gut OF gold there
continues TO DO subject Of DISCUSSION. Il inter-
ssiios fact that the present is snly tho third time on
vuht ho nouk ~ Epofo