The New York herald., 1867-02-28

The railway share market has been dull but the gene.
raj tendency appears TO favor Improvement although
there absence Of speculative spirit either the
bull the bear side The supply Of money is abundant
TO the Stock Exchange at six per cent with exceptions
ut railway collateras and Ave governments
The Treasury is dsbursng u payment for seven-thir
ties but the secret in which the funding pro-
Ia conducted exctos suspicion and the opinion is
gaining ground in Wall that sundry being
ground thereby both in and out Of the Department
That the market for government securities is being
manipulated by the agents OF the Treasury IL beyond
doubt and this is hardly credtablc to the government
When five-twentes OF the issue Of 1855 have
TO be sold the brokers employed at full rates Of commits
sion bul" them, and the Treasury at the same time
assists their endeavors by making money easy; but
when the Treasury draws it's money In payment for
these the brokers concerned begin 70 "bear"
thirty notes. and the Treasury likewise assists thcm by
locking up us much currency as 1t can. Seyenthirtes
60 down, therefore, just ve-twenties went up and
the government brokers enabled to do handsome
thing for themselves, II not for the government;
for With them self-presorvaton II always the
nrst law Of nature, and charity invariably begins
at home The present secret system Of
version 10 trick upon tho public and dis-
credtabe to the administration or the finances The
dealers government securities like It, without excep
tion. because 1t gives them commissions Of per
for buying and the for selling and chances or
specuiasing 70 advantage their account which
may rest assured they promptly avail themselves
but 70 the people large it Is stumbling block and
very heavy tax We therefore suggest TO Congress the
advsabiy Of inquirng into the present systom OF con-
versions into the funded debt and making provision for
the full publicity Of all such transaotionA
At the ten O'Clock open board tho market stag
nanI New York Central sold q 1o2X; Illinois Central,
llok; Michigan Southern, TEX (bl0); Northwestern.
35X iA3; Atlantic Mail, IS; Pacific aIa l3l 1871
At che nrst regular board the speculative feeling
slugGish. but prices were we'll sustained Pacific Mail
was stronger and sold up 70 1SS the CALL the ransac
lions covering 1900 sharca New York Central closed
higher than At the time yesterday, Northwestern
preferred y, Fort Wayne Y, Pacific Mail ~ Atlantic
Mail l, Canton I, Western Union Telegraph 4. Govern
ment securities steady excepting nvewsnties Of
1885, which showed advance Of u, and tsnforties
advaooe OF y. Tennessee skies lower, bus the
new issue were n higher Missouri sizes 4 higher
At the O'Clock open board the railway share market
was firm but dull and New York Central sold 1t l03x
tas): Erie SOY Hudson. 1877 Reading. lo31S Michigan
Southern, 73k; Illinois Central. l16X; Cleveland and
Pttsburg SOY; Rock Island, o6x; Northwestern, 36A
{as,; do preferred e5K (b3); Fort Wayne oS1 tsl0;
Atlantic Mail. "a S4a.
At the haifpast two regular board the market was
q shade nrmer. Eric closed higher than at the Grst
regular board, HUDSON ", NOrtnwestern preferred y,
Fort Wayne "a Ohio and Mississippi certificates Pacific
Mail declined 2 per cont selling at l3o Government
securities we're firm. Coupon skies OF 1881 were q
higher Avetwenlics OF 1854 and 1895 " seven.thirty
notes Of the third series " lower. Tennessee
sixes showed advance Of 4; new issue declined y.
AT the haf-pass three open board the market was
fraction lower. New York Central sold at I02X 1903;
Eric. 5sk sS) Hadson, l3s; Reading lo33<; Michigan
Southern, IS: Rock Island, soK ~; Northwestern,
s5y a. preferred, e5k: Fort Wayne, o4X ID. 81; NIL
waukeeand S. Paul, COX; Western Union Telegraph 43
During the rest Of tho afternoon prices without
material alteration, and Of hale past i've the market
barely steady at the following quotations: New York
Central 1o3 1854: Erie, 6sh; Reading, .1O3K lo4;
Michigan southern, u x %; Rock Island, se,s u;
Fort Wayne, OAK X; Northwestern, 35K 80; do.
preferred. s5s y; Pacific Mail, I3ok 131. Com
pound interest notes quoted thus by the deales
June 1894, 117K; July, III; August, llek October,
Il5x; December, 1l4K; May, 1885, 1l2k August
1I1k; September. 11ox; October, 11oK.
The foreign exchange market continues Arm and the
decline cotton abroad operates against expectations of
tho staple. Bankers bills on England 1t sixty days
werc quoted q. the close At 1854 loo 1t three days.
1ooI 1os4; commercial bills, lo7x loek; francs AZ
sixty days, SIS 521A; At three days, 5.13k SIS.
Bills on Berlin, 72a 72k; on Bremen, 7Sx 70; on
Frankfort, II Az Amsterdam, II l1,S on Ham,
burg, 3eh a; on Antwerp. ASK a 51oh.
British consos and American securities we're quoted
khus In Yondon on the dates mcutioned.--