The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-18
FINANCIAL AND CONNER GAL.

TUESDAY, Sept Ito p. M.
The gold market was rather heavy in tone at the
nencemsnt OF business this morning. with sales at IA
but gradually 1t became rmer and tho closing
uons wore at the highest point Of the day. namely.
l44x. The volume Of speculative business light,
and the 'shor" interest is increasing There was
brisk borrowing demand for CON- and loans made
"nap and at per cent per annum for carry
fng and a per cent per annum, and l-64
l-32 per cent per diem for borrowing. The
gross elearings amounted TO s6O,4s5,0o0; the
currency balances to 81 $50 42 and the gold balances
TO ST. 1881 The arm whose attorney sold gold with
out authority, on Saturday evening" has settled
tracts without appealing to the Board American silver
isquoted at 90 asX below the Price of gold, and heI-
can dollars al lo3 lo3I In gold.
The railway share market was dull and somewhat un-
settled during the early part OF the day but Afterwards
became strong and active and up the close there was
smoderaiely brisk demand for all the leading specu'
iatve shares.
Six per cent is fair quotation for money on good COL
iateras although there have been not few transactions
II seven, some OF the banks and most OF the private
banking houses having advanced their rates to this
point Strong efforts have been made 10 establish seven
the rule but there is nothing in the actual condition
OF monetary affairs present to it, and, there
fore is likely TO DO the general rate until the drain
Westward increases. This the opinion also OF dsn-
Of outstanding loans at Ave per cent have not
yet been marked up. large amount OF cur
rency is evidently held OF employment
for the time being in order to produce impression
that it Is becoming scarce, and indirectly depress
stocks The principal dealers in government. securities
nevertheless able to borrow all tho money they
quired at i've per cent At the time the tendency
s towards per cent money market; but at this
rate the indications are that the supply will be abundant
until the pork crop calls for currency the OF No
vembe the local OF the West being rather bet
ter supplied with currency than usual at this
The Treasury disposed to guard against
monetary disturbance, and II is prepared to
purchase soventhrty notes OF either series at
lo7, and TO redeem the remainder of the
August issue in lawful money, the time for con-
vertng them into bonds having expired II is also pre-.
pared to redeem compound interest in advance OF
maturity and it is regarded than probable that
the Secretary will the issue OF the author
tied fifty millions Of three per certificates in
demption Of the October notes. There is talk
the street OF the probability Of special demand fer
money at the end OF the month from the country
tona banks to enable them to make up their quarterly
returns. To this can only say that MI in
situations which stand in any such need OF
bolstering doing business under false pre-
fences and the they weeded out
Of existence the better In this may men,
ton that the balances Of country banks this centre
have already been drawn down to rather low point,
There moderate demand for discounts aud first class
commercial paper quoted at per cent and good
but choice at sa9 The sooner there is a natural
advance of the rate for money call per
the better II will DO for both and lenders as
81 will indicate n healthfu state of the circulation
and OF business generally than have lattcrly been
accustomed to.
At the early session Of the open board railway shares
unsettled about the closing prices Of evening
Erie sold at 675S: New York Central 1873 l071l;
Cleveland and Pttsburg, s6tI and Rock Island 1925
1925 AT the first regular board the market rather
active and somewhat drmcr. New York Central closed
y lower than at the Same time yesterday, Erie IL,
Michigan Southern "a Northwestern ia, do preferred
IN, Fort Wayne az Ohio and Mississippi certificates
Milwaukee and St Paul preferred q. Western Union
Telegraph H. Pacific Mail was y higher. Government
securities inactive. Coupon hve-twentes OF 1854
advanced i. Missouri SKIES declined 4. The express
shares were steady. Adams sold at 60 6S&.
At the open board a, one O'Clock the market
slightly higher portion Of the list and lower the
remainder. Erie soN at IS; New York Central 1o7h;
Michigan Southern, sos q sos, and Cleveland
and Pi,.sburg, s6S At the second regular
board the market was strong and active New
York Central closed 4 higher than at the first rcgu-
q,
Rock Island y. Northwestern "a do. preferred az Fort
Wayne y, Toledo, Wabash and Western u, Milwaukee
and ST. Paul -, preferred -, Pacific Mail ~ West
srn Union Telegraph -. Government securities con-
tnued Coupon hve-twenties OF 1862 advanced
y, and the issue OF 1854 declined a. while fortes
declined y. Among the express shares Adams ad-
vanoed =, and Wells Fargo declined "a.
At the hafpast three open board the market firm
ai the improvement. Erie sold at 6ss; New York
Central, los losis; Hudson River, 1903; Michigan
southern s1H Cleveland and Toledo 100 Rock Island,
1o3 Northwestern, ~; do preferred. So Fort Wayne,
1885,; Milwaukee and ST. Paul preferred, IS a 65H.
Subsequently there was a further slight advance in
portion Of the list and o'clock the market
steady at the following quotations York Central
los 1857; Erie, ass q 6s4; Hudson River, 1907
ISL; Reading. 1924 1o2X; Michigan Southern SIS
sil; Cleveland aud F,tsburs. 81 sly; Rock Island,
los . lo3h: For Wayne, 6sIs a CO.,; Northwestern,
Aa+4h; do. preferred, 69H 691 Pacific Mail. 1436
l43,; Ohio and Mississippi certificates 81 a 2'k;
Western Union Telegraph, Az . -; Cumberland Coal,
e3a34n.
comparison Of tho prices OF the leading stocks at
the FIRST board this morning. and at the and
date last year, shows the following changes
Sep. II, SER. IL.
is66 1867. Higher Lover.
New York Ccntra...... ...105 10TI tx