The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-05-04
FINANCIAL AND COMMERCIAL.
FRIDAY. Nav 3ap 7,

rnDAf, may I'D r. n.
the Runway share market has been rather dull and un
settled. but the whole steady to-day The hss,suop
which has shown during the past two DAYS doss no,
seem to have diminished confidence in ths inward
tendency OF prices among the bulls although has IN
duced tue bears 70 extend their contracts for future d.
hvery Inc Erie excitement has partially subsidsd for
Inc time oe'ng and conflicting opinions are expressed
as 70 the character Of the next turn il win
TAXA the majority being however, in favor
OF It's rising The prevailing abundance Of
money Is an important element in support
or the Dull view Of the market and one nsxt in impor-
lance 70 the large earnings Of the leading railways This
monetary ease will be likely continue throughout the
coming summer, and It will be strange H. after the d.
preston OF the last six months general rsawaksnng
OF speculation in Wall street does mot take place, A.
'enoso oy recovery Of prices somewhat proportoned
70 the extent Of their decline. As yet however the
speculative feeling local and sather tame and the de-
sre TO realize small profits vhsssver they present them
very strong Boldne9 the par Of the lead
ss 10 this movement 10 necessary 70 inspire courage
among the rank and die Of the street. the losses
OF half agar have rendered both poor and timid.
The demand for money from the Stock Exchange 10
insaoiens 70 absorb the floating supply and loans
made freely ct 40 Per miscellaneous collats-
na and at4 psr cont on governments There 10 mo-
change 70 note in the discount line and commercial
paper Of Tho best grade passes at OK per cent The
Western papers report that the bankers at the local
tres there still compelled TO remit currency to New
York 70 keep their accounts good.
At the ten O'Clock open board railway shares vsre
dull New York Central sold ct osk Erie, e. Reading
lo4; Michigan Southern, esK ~ Cleveland and Pitts
burg u; Rock Island, S0H Northwestern, ssh Il;
do preferred, o2K; Fort Wayne, Elk Boston Water
Power, 4lk
At the first regular board the market was nrmer and
prices advanced; but the second call the improve
Ement was not sustained. New York Central closed
higher than at the time yesterday, Erie x, Mch
gan Southern Y, Illinois Central 4, Cleveland and Pitts
burg u, Rock Island y, Northwestern !, do preferred
u. Fort Wayne Ak, Milwaukee and st. Paul preferred
y, Pacific Mail X, Atlantic Mail l. Boston Water Power
X, Western Union Telegraph TX. Ohio and Mississippi
certificates were X lower Government securities
firm and moderately active. the transactions being
chiefly confined 20 nvetwenties Of 1866, which ad-
vanced u while the new issue remained steady. Cou-
pom 6vetwentes OF 1862 advanced y * issue OF 1854
e. seventhrty notes neglected but steady in TONE
Among the State stocks Tennessee SKIES were steady
and advanced lK while Missouri skies were unaltered
The new issue Of bonds Of the State Of Tennessee
declined to 80 last week, while the old bonds sell
ing at o. ex-coupon. It therefore requires to be
understood that there Is really difference between
the two issues the interest both being provided alike
originally loaned, and the first mortgage Of the State on
the roads is 900 per me instead Of $4,000
at nrst, 80 to include the thirty psr areages
funded into new bonds We observe by . circular Of
recent date from the Governor and Comptroller Of the
State to the railway companies concerned that the
obligation upon them to provide the July interest Ill
the bonds at least fifteen days before II falls due q
required BY law. to BE- strictly enforced receiver
will b appointed 70 take charge Of the roads in default
son behalf Of tho State Is mortgage.
At the open board At one O'Clock the market was
steady, and the volume Of business rather light New
York Central sold as osH y; Erie, GA y Hudson,
9oA; Reading, 10lK Michigan southern, 90; Illinois
sCsstsa ll3x ll4; Cleveland and Pittsburg TEX Rock
Island, s0X Northwestern, ASK Ak; DO. preferred,
OK q ~, Fort Wayne. s7k (bg; Western Union reis-
graph, 4lh Pacific MAIL 40.
Al the halfpast two regular board there was dull
and barely steady market Erie closed y lower than At
the nrst regular board Michigan Southern y, Cleveland
and Ptssburg y, Rock Island ~ Ohio and Mississippi
osraAestes x, Canton x. Boston water Power y.
Western Union Telegraph was Y higher. Government
securities inactive Coupon nvetwentss Of 1852
declined ~ the remainder Of the list being unchanged
At the opsa board q halfpsss three the market
without material change New York Central sold q
.ssx Ak; Erie. esx; Hudson, COX; Reading, losX;
Michigan southern, osx; Cleveland and Pittsburg. 70
d. 81; Rock Island, sok; Northwestern, s5k; do pre-
fsrsd, 62k; Fort Wayne, s7H Naziposs preferred 20,
Atlantic Nail eSx; Western Union Telegraph, l3x
y. subsequently portion Of tho lst experienced >
slight improvement and At quarter 70 ok the market
vas arm at the following pricss-Nsw York Central,
:ssK Ak; Ere. esX Is; Reading losk lo4; Aichr
gan southern osK %; Cleveland and Pittsburs, 72k
X; Rock Island, cox n; Fort Wayne. s7K a Is;
Northwestern, s5x . r.; do preferred, GIN n; Pa
eide Mail l2sk l2e; Atlantic Mail, ssk o.; Western
and nj
cafes, 70 Y; Boston Water Power, a2Kak.
Government securities were steady a. the Close Of
business a. the following quotations. Registered 1881,
lloA< r.; Coupon, 81, lloK 1io1; $40. regis
tered, 1882 lo5K l06 $40 coupon, 1892. lo2K x;
$40 coupon, 1854, 1861 y; do 'os, 1861 I0e; do
January and July, l07K n; 1910 registered, esX
Sex; 1910 coupon, X; August 7So. 1ocK AZ;
June TAO. los,l x; July Tso, losKak.
The gold market has been firm and the range Of the
day from lS5x soon after the commencement Of
business 70 1897 At the Close There was .
brisk borrowing demand, and, Notwithstanding
the disbursements Of the Treasury In payment
Of the ssmi-annuai interest on tho nve-twsnty loan
loans were generally made nas the exceptions being ~
psr cent fsr carrying Tho cIesrancss At the Gold
Exchange bank aggregated s5os7Sloeo, and the gold
balances 81 To- 270 The bulls endeavored 70 make CAPT
tel ost the London telegram stating that Lord Derby
has Officially iatimatsd that plan has been certainly
nxsd upon the basis OF settlement Of the Luxembourg
question although he hopes that permanent peace will
b The result Of the forthcoming cougsD; 49, thas con-
ssAsssbls unsssness 10 felt both in Ensand and the
cossiasnt - 70 ix result fhoss who are inter
esssd in the price Of gold WILL however, do
wssl y attach vy little importance 70 me fluctuations
uAoh these and Other reports pending the settlement
viii b Nksly - promoss, assisted BY the efforts q
unscrupulous Spectators both sides Of the Arsasc
Of whsss Ingenuity In manufacturing rumon We have
iasssrIv had abundant proof II d very sssy 70 sAik
sbsss s.snsaslnsn, /" end sometimes profitable also