The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-12
FINANCIAL AND COMMERCIAL.
Fanny Oct LAP NJ

ne gold market has been arm in tone to-day ana
lhs fluctuations were limited 10 4 per cent, the
lowest quotation having been l4sss and the Highest
Ia A. The close in II stood at l435S l44,
but subsequently the street II declined to ls3s<
1885, There very active borrowing demand for
coin, and percentage high lilo per dsm had 70
be paid borrowing which Affords conclusive evidence
or large sSten, OF the sLort interest outlanding
The volume OF business moderately heavy, and the
gross ceArngs amounted TO $4,000 900. the gold bal
ances 10 $l,oil, It's aud the currency balances to
81, 200 4os. The Treasury understood have sold
freely, In order TO prevent the premium from
rising under the effect Of the discovery In
relation to the second OF thirty noios The
democratic spool" also sold large smount short"
but Inc marke. very unyelding and took all tast
vas offered
Money was In more active demand than yesterday.
and the supply hardly than equal 70 t. Can
loans made seven per cent, without any excep-
lions favor Of government securities which arc just
closely scrutnlzed as ether coaeras WINE
sevenihy notes OF tho second series are declined e.
eept when offered moderate amounts by wen known
houses. there calling or loans this morning.
and gave appearance Of marked activity In GER
quarters winch not FELT in others; but the IN.
dcaiions on all sides point 10 active
market for money than have had since the quarterly
returns OF The banks were made up The banks here
being pressed for discounts by those in the West
and there IS probably much ten millions Of
camille paper from section Of the country seeking
re.dlsooun', bot OF hss only small
n response the urgent OF the applications
made The rate 10 correspondents among the bauk
almost invariably seven per cant, but city deposnors
wil!ag TO submit TO sa9 per cent discount Upon
tneE paper In instances oven where il is
"a t AL. The banks di count reluctantly and
through favor rather than choice, their preference
being to employ their funds on CALL Hence We end
eny = moderate degree oil activity 10 Wall street. while
In the discount line there positive stringency
The course OF prices The Stock Exchange is, how
ever often In oppos the natural tendency and
have recently had considerable experience in that
spec To-day tho Ere Clique renewed It's efforts 10 oal
that mercural security ana with success; but TIE
responded oGly feebiy the movement and the
OF the market moved slowly in sympathy. Tue
shares OF the BISON Hartford and Erie sold at 10 this
morning. and the object OF the directors Of Ere
TIE soil u OF Bos Is manage tie two roads
as to make toe stock worth as much the other,
and This pleasant prospect for tho Eric
shareholders, and quite godsend to the solid
But long lane that mas turning and there will
time when Erie VIII be wcu managed road, aDda
much better paying property than it is present. with
Hock OF huaacial vutures and professional
spectators for lis directors The temper OF
the street Is stll blish, but the market
entirely lacks outside support. and its course IL
likely be irregular and its fluctuations eccentric until
another break down takes pace. IL "a q matter OF
interest 10 the general public whether It goes up or
down. for only brokers aHd professional spectators
concerned in manipulating IL; and II these were swept
OF existence morrow world would lose nothing
By the event
There has been less excitement among the dealers In
government securities with respect to the supposed
counterfeit ID ry Of the issue OF June 1865
than was apparent yesterday. and the unsettled tone
With which the market opened gave place to . more
confident feeling tho day advanced, owing to the
efforts of the Treasury and the principal holders
tain quotations The government has yet made
any formal demand upon the parties from
whom II received ,he doubtful notes, but 1t noi.
Ned them OF The counterfeit yesterday
ting through tho Sub Treasury 1t Is rumored
shat many OF the coupons of the question have
been paid, but OF the sizes 900 which fell The
hands OF the Wall street dealers have thus far been
traced further back than September IL when few of
them were received from Leavenworh, Kansas. Some
Of the dealers positively that the
fes While others either decline to express opinion
or intimate their suspicious that the counterfeit
printed from hs genuine plates and pend ny fur
ther Developments IL would he unjust 10 throw
the responsibility upon the Treasury Deparl-
mont Nevertheless, the fraud 10 . very unfortunate
circumstance for tho public credit By wbomsoever
mirted, as II IL cacu!aed TO saaxe confidence In the
and buyers generally Al the close tho market was
steady NJ the sibjoiued quotations Reg stere 1881
1l1k NIX; coupon. 1881, liiA nv; 5-2os,
sered, 1862 1isa llI1, Sos cdupin 1862, ll-is
. ll2h; $685. coupon, 1851, 100 l09js; $40 :,
coupon, 1885. 1924 1928 do DO, January aud
July, l07 al07lS, 5-20s. coupon, 1867, lo7X l0ih;
lo40s registered. 1ooS lo1is; 10 4os, coupon loos
1905 jane 1905. 1866 1855; July 7.30's, 1857
1855 0c;ob compounds 1861 1884, Ilots December
-
August Do. DO, ll6A 49,; September do, lI5.
ll55.; o~to0er a.. do, ll54 ll5ss
At ne early session OF the open board the railway
share market strong al slight advance upon the
closing prices ~ asi evening New York Central sod
ri li3A; Ere, 60 a634: Reading, lols; Michigan
Southern, - ( s2A; Cleveland aud Pilisburg S2s
Rock Islani. o. Il o.; Norhwestern, i2a; DO. pro-
ferred oGsf o. Fort Wayne, 1904; Western Union
Telegraph 30 s5s
trst board the market wed increased
strength aud aetvi'y aDd Er advanced Z the CALL
bot the business Va. on the whole, yell distributed
New YORK Contra closed y gher than Al the
time yesterday, Ere y, Michigan Scuthcra 4, Cieve-
land and Pi,tsbirs Z, Cleveland and Toledo !, North.
western ". do. preferred u Fort Wayne Y. Atlantic
Mall Ia, Western Union Telegraph y. Reading WAS y
lower, Milwaukee ami 81 Paul x, st Fau preferred Y.
Government securities were some hat unsettled. Cou-
pom 1ve-,wsntics Of 1882 closed lower seves-thr-
Mes second SERIES were HE her Quotations we're well
sustained By the Treasury brokers In order prevent
the alarm with regard the second from spread
ms. and tie declining tendency Of prices checked
without any unusually large securities being
bought
A. tho open board at o'clock tho market was
rather Irregular aud Erie sold At 20 New York Central
114f li4k, Northwestern t3., do preferred, 67x
Al tns second regular board there feature
Erie closed higher than the nrsi regular board Hud
River Ia Northwestern preferred y, Fort wayno
u, Ohio and Mississippi certificates Y, Pacific HaI y,
Western Union Telegraph y. New York Central
Y lower. Government securities were lrmer Coupon
nve-tw mites Of 1862 closed higher. new issue OF 1868
X, seven.thirties third series u. Tennss-