The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-21
FINANCIAL AND CONNER GAL.

/
FRIDAY, Sept 20-6P.M
It was generally understood before the commence
ment OF business this morning that the Treasury would
continue to sell gold largely and the spectators We'd
with each other 10 get it at low price possible
Hence the opening transactions 1885, and sub
sequenly there was decline to 1929 the Treasury
gold on the market; but after this reac-
ton to 1857, followed by . relapse to 143H
| 143X at the close. On the street, however, late
| in the afternoon. the price rose to 14ak
1881. Loans were made "nat" in many instances
owing to the improved borrowing demand conse-
quent the increase Of the 'short interest, but
per cont was also paid for carrying. The gross clear
ngs large aggregaing $1l2 0oo while the gold
balances amounted to So 226 764 and the currency bal
to So $50 The policy Of selling Treasury gold
at all is bad one, the more the government boards
coin tho more il strengthens the public credit; but TO
sell unusually large quantities In the midst OF money
panic extremely suspicious Why did not the govern
ment sell such amounts when the money market
stagnant and at per cent, and why does 1t do
now, when money Is active per cent and
are trembling lest they should be able to borrow II
next week any prcei
There has been wailng and crashing OF teeth
among the holders Of stocks and Wall street u
panic stricken than II yesterday. Prices have
fallen with surprising rapdity and stocks have been
pressed for sale large amounts but the excitement Ia
undminished with most of the ban Ks the Treasury
officials and gigantic combination Of strong houses
agains, the the bulls begin despair Of surviving the
terrible onslaught Of the bears The predictions OF the
latter have thus far been realized and they still
say that the trouble has hardly commenced,
and that next week will be infinitely
than this Eight millions Of greenbacks arc
said have been already withdrawn from the banks
osensibly for the West during the week. and mosey
somewhat closer day than yesterday, the rate
having been strictly per cent government
securities The stock market has little support
from the bulls, except New York Central and the
bears predicting that cannot stand their IRE much
longer The preparations Of the national banks for
their quarterly WILL is feared, further aggra
tho present condition OF affairs and therefore, al
though decline has been already heavy there is
Knowing how much further it may progress Every
thing must have end, nevertheless, and there
still balm in Gilead and paper money in the United
States Things unimagned out Of Wall street. however,
resored like these TO fonent pa MOS
and the greater the damage inflicted BY It the diff
cult is to the downward tide Nearly every
expects further Decline and the OF the bears
thus far lead to the supposon that they will be
successful still. The combination is immense, and it
aims at nothing less than the ruin Of holders Of stocks
/ the majority Of whom have like = flock Of
sheep before the bear attack. and accele-
| rated the fall. With such questionable sup
| port to the market what be expected but do
moTazaon add destruction, and who cope success
fully against the Treasury the banks and other lending
institutions all joined together hand in glove with the
bear leaders No wonder that matters on the Stock
Exchange rapidly passing from bad worse. and
that to.morrow's bank statement looked forward 10
with dread Thus far there have been failures, but
the losses have been enormous and the market is
! respondingly weakened thereby.
the early session OF open board railway shares
excited and unsettled at the decline of last
ing the pressure sell strong. Err sold at
63 63x; New York Central, fo8; Reading, 1o1 Y 1o2;
| Michigan southern, 7Sss; Rock Island 101A, and
North western, 4o At the first regular board the mar
ket continued unsettled, and large amounts Of stock
pressed for sale but there material decline
In prices among the railway shares but Pacific Mail,
Canton and Wells Fargo Express fell or considerably.
New York Central closed q lower than at the same
time yesterday, Erie l. Michigan Southern q, Glove
land and Pittsbure 4, Cleveland and Toledo !, Rock
| Island 4, Northwestern 1 x, do preferred IA Fort
| wayne ~, Ohio and Mississippi certificates e,
Pacific Mail az, Canton 2 Western Union
| Telegraph a. Government securities were frrn
| Coupon fve-twentes Of 1852 showed advance
| OF 4, issue of 1865 u, ten-for.ies u. Five
| twentes Of 1864 declined Is or the State stocks,
| Missouri skies declined Among tho express shares
"a
can advanced 1. Afterwards, the lower hall Of the
Stock Exchange, there was renewed panic, and tho
transactions very heavy. Erie sold down to 81.
other stocks declined IN proportion. At the open
board, at one o'clock there abatement Of the
excitement and pressure to sell. Erie sold at 81 4 .
j 6lX; New York Central, 1o5H Michigan Southern,
75I 751; Cleveland and Pitlsburg, sou soX; Rock
Island, 1ooI Northwestern, ssz; preferred, o3'< a
64'l and Fort Wayne 1oo,s Many OF the sales a,
this and previous boards for cash. showing that
'long" stock being thrown overheard by nsces.
| s,ous holders
At the second regular board Q steadier feeling pro
vailed but the improvement In prices trifling New
York Central Cleveland and Toledo the rmest
while the weakest Of the railroad shares New
York Central closed higher than the first regular
| board, Reading 4, Michigan Southern q, Cleveland
and Toledo l. Erie IL lower Cleveland aud Pitts
burg a. Rock Island u, Northwestern y. do preferrst
~ Fort Wayne y, Milwaukee, and 81. Paul preferred e
| Quicksilver u Western Union telegraph u. Govern
ment securities weak under moderate pressure
SELL in anticipation Of lower figures; coupon hve-twsn
1862 declined r. issue Of 1895 y, teuforties y
Among the express shares Adams declined and Wells
Fargo Co III
At the open board 1t halfpast three there fur
Their slight advance tn prices and diminished pressure
SELL Erie sold 62,s 62k; New York Central, lo6k
Reading, 10lx lolX; Michigan Southern, tex 1917
Cleveland and Ptsburs, So s2x Cleveland and Toledo
12s l2sll; Rock Island, 1919 1917; Northwestern
: 3e5<; do. preferred. ez 64X; Fort Wayne, 1o1h
Ohio and Mississippi certificates 2oi; Milwaukee an
81. Paul preferred e2 Western Union Telegraph, AL.
, The Improvement soon lost however. under n
newsd pressure TO SELL and at six O'Clock the mark
closed weak and unsettled 1t the following prices:-
|, New York Central loox 1oc Erie, 6l's 81
' Hudson River, 1877 Reading. lolH lolx; Michiga
Southern 1877 76S Cleveland aud Pl,tsours 80 81
! Rock Island, 1907 lol Fort Wayne, 1905; Nortl
western 3Ssl 50; do. preferred 6s5s 64S; Pacif
Mall, $50 ls9L Ohio and Mississippi certificates, 2e
: q 26a; Western Union Telegraph, II AK.
. In addition TO selling unusually large amount
coin during the last few days, the Treasury known
have so,d ssveral millions of new dye-twcnty bono