The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-29
FINANCIAL AND CONNER GAL,



wkDsxspIr, August IA r. n
1ns railway share mArkst was heavy and unsettled
this morning. early the afternoon Ii became nrm.
and closed with an upward tendency al the highest
Sont OF the day. The causes affecting gold are not
without some influence the Stock Exchange in the
prsssn, sensitive state Of the pubic mind and hence
ths promise OF last few days has not been realized
bst the general opinion that the prevailing hesitation
viii before long be succeeded by brisk speculation,
upon the largely increased earnings Of the railways
derived from the crop movement. So far monetary
facilities for carrying stocks concerned the bulls
have all they DESIRE for money practically easy
before the last bank statements appeared
a.d the leading dealers In government securities can
borrow ali the funds they require at three per cen. from
private lsndsrs while the banks lending at four
governments and nve MIXED colaterala The demand
ASm stock houses is limited, and the discount line
saords bus little employment for capital Commercial
paper Of the best grade is In very limited supply, and
generally quoted at per cent, although there
arc exceptional transactions at 9 OF. The drain OF
currency westward Is lighter than was last week ana
the Sub Treasury ia Disturbing freely IN redemption or
compound interest and for other purposes Bank
sfhcers generally LOOK forward TO moderately active
money market per cent in october, and at these
rates the supply will probably be ample during the rest
Of the year
Al the early session OF open board railway shares
we're heavy Erie selling ssls and New York Central
a. I0zx. Al The first regular board the market was
spll and lower New York Central closed =.
lower the time yesterday, Erie =, Reading
a, Michigan Southern y, Cleveland and Pitts
burg u, Rock Island x. Northwestern l1S, DO. pre-
serrcd l. Quicksilver IL, Western Union Telegraph q
Government securities were dull but steady excepting
coupon Hve- iwentiss Of 1865, which declined =. Ten
nsssee declined Z, issue u. The express
ON at. a I'm
a. 7Sl4 and United States at IS
Al tho open board at O'Clock prices without
Improvement and the volume Of bugipess light
Erie sold at 6s4 az and New York Central at lo4s
cleveland and Toledo advanced to l25 after selling
IFS the previous board consequence OF the direct.
OF the company having agreed 20 consolidation with
abe Cleveland Painesvile and Ashabua Railway Com
psny, connecting link nine;yavs miles long Il is
understood tina. the directors Of the latter line
have taken similar action in The matter, bat the
agreement requires to be ratified by two thirds vote OF
the stockholders Of both companies Subsequently
CLEVELAND and Toledo i2T = in the lower hall OF
the Stock Exchange, and Michigan Southern 10 s2is,
while the OF the railway list partially recovered
from the previous depression. Az the second regular
board the market inactive but hrm and the prinoi
pal dealings Cleveland and Toledo and Michigan
Southern Erie closed q higher than the frs, regular
board, Michigan Southern Ia, Cleveland and Toledo
a. Rock Island u.
Government securities were dull Coupon I'VE
swcnties of 1862 aud tcn-ortes advanced a. while the
new Issue OF 1865 declined =. Tennessee skies sd-
vsnced =. The express shares quiet, and Adams
sold at IS a AN
At the open board a, balfpast three prices were
fraction higher but the volums OF business ch,
New York Central sold at 1O5tG Reading leis; MIch.
gan Southern, spa Cleveland and Pit,sburg, $50
Rock Island, l03; Milwaukee and s.. Paul preferred,
49, During the rest o, the afternoon the market
very firm duB and SIX O'Clock closed strong a;
the following quos.ions:-New York Central los x;
Ere 6s94 y; ReadieR 1855 d Michigan southern,
s21 ri Cleveland ard Pittsburg, go AZ Rock Island,
les !. Fort Wayne, io4si y; Northwestern, 4s'a
\; do. preferred ss9& - Pacific MAJ. 1857; liS
Western Union Telegraph, 10 ~ Ohio snd Mississippi
certificates. 26i. %.
The Cleveland and Pttsburg Railway Company de-
eiared to-day dividend OF per cent in cash out OF
the earnings OF the months ending July 81 payable
September Ia tho books 10 close Serteni-
ber3
There was moderately active business transacted in
government securities az the Of the leading
dealers bat The only noticeable demand for AVE.
swen,es for shipment be held hore foreign
count. Tho market closed steady At the subionsd
prices Registered, 1891 Ilo4 ilo5; coupon 1851,
no. ll1i lvc-twentes registered 1902 1882 los:
40, coupon 1862 ilSiS 1885, do, 1864 1907 l0oi
do 1865, llo' ll0l dc. DO. January and July, 1875
slos; d. 1867 1919 los ien-forties, registered, -
oe,; do coupon 1925 1925; gold, 1tl5sa 142;
August ,even-tLirtes, lo7 1o7t.; June do. 1914
1o-,. july do, 1914 1921 October compounds,
1854 l1s7. lie1s; December do. do, ll7gs 1ls;s;
MAJ DO, 1885, III NIX; Argus, DO do 1Is il6%;
September Go. do, ll5is ll5sl; ocobsr DO do iia
ASa
Gold experienced further advance in consequence OF
the reported attitude OF General Grant towards the Presi
dent relation the removal OF sheridan and Skes
The fact that the Cabinet complications stil
settling che pubc mind also tends 70 keep the marko,
nrn There Is the time sufficient apprehension
OF war between France and Prussia FELT create dis
position among many hold gold, ard the talx OF the
tpns,ion party in the wcs,s without little In
nusuce Were not however for the large amount Of
United States securities which heli abroad gold
would be much less sensitive and the premium would
far lower Tho opening transactions were at lf =,
from which point there steady Vance TO 1894.
The market then reacted 90 14l =, and The closing
price li2 Coin abundant supply, and loans
made without interest and al / al per cent for
carrying. Tho gross ecarngs amounted 20 sib $4,000
Abe gold balances 20 sl,9looe6 aud the currency
balances to sS05o, s5s The Treasury understood to
have soid considerably excess OF s receipts during
the Last two or hroo wooks despatch from Washing
ton on Monday stated that the geld balance then the
Treasury SY fe3,6Ss o0o against nearly
sloS ooe 600 The lat inst. II add the probable
eas,oms receipts suce that dae 10 this amount
gates about yil7 oOocqO Has tho difference osen sold
ard II not, how unch9
The foreign exchange msrke, w,s steady although the
demand for pills very limited. raakcrs bills on
Easlard ssxsy day, quoted 20 loe9l q at
tnrec days no. llof commercial bills, los 100
bills on Paris ky day sisss el5 at three days
shs. q Ai8,..
Consois and American securities were quoted thus IN
london ,o-iav ~. ioenIes show nc decline o. 4,
lircre ~ fwg,if q Aus.s ss
rrhed states 40 s...... sf.a saa 40.