The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-05-20
FINANCIAL AND CONNER cIAL,
SUNDAY, May 10, 1867.


TAs railway share market was dull during the past
week. the speculation being almost entirely local in ito
character. The bulls are. however still sangune of
hummer RISE and contented enough to wait for an
Indefinite period for the tide 10 turn in their favor
Efforts are being made TO establish high price for
Hudson River and although the stock has recently
swstered" TO the extent Of hundred per cent II was
s'washed" up to l0SK at one time The object Of the
present holders Is to make market for IL at par but
sae public viii Be likely to ind costly investment
~ any such price, which is much higher In proper
zion than that Of any other stock the list
II 70 held, however, by those who put it nifty per
cent higher il they choose and hence is dangerous
to soil ''shor to buy The market closed nrm but
dull on saturday, At tho subjoned quotations:
York Central, s7K y; Erie, e2,t X; Reading 1857
~ Michigan Southern, e7,. z Cleveland and Pitts
burg, 72x x; Rock Island, ssI K Fort Wayne, s5X
sSk; Northwestern 34H h-do. preferred, 6o3s .
~ Pacific Nail, l2sx y; Atlantic Mail. 10sh lo4 |;
Western Union Telegraph, 42T A. For government
securities the closing prices at the counters Of the
dealers were-lSSi. registered. 111H Y; 1881, cou
pon lllA "; hyetwenties coupon, 1882 1887 100
nvetwenties coupon 1864 1857 . 4; fve-twenties
coupon, 1885, 1864 u; fve-twentfes, coupon, new
issue 1919 10S; ten forbes coupon. COX y; seven
thirty notes, first SERIES 1861 y; thirty notes.
second SERIES losK q seven thirty notes, third SERIES
105k u.
II is expected that the statement OF tho associated
banks for the week will show increase Of four mil
lions and quarter leans chiefly attributable pur
chases Of ve-tweny bonds sold by the government
and the legal tender notes will show decrease Of
about four millions, owing to payments into the Sub
Treasury account Of the former The deposits how
over, arc supposed be about million and half larger
while the specie will probab, show slight increase.
The money market was easy throughout, but after
Thursday there more inquiry for loans from the
Stock Exchange and the rate advanced from five
no six per cent in many instances Friday, although
outstanding five per cent loans were not generally
marked up The closing "a es for now business were
I'VE per cent governments and six per cent mixed
collaterals First class commercial paper, which
previously discounted at per cent at The
time quoted seven per cent, and all but prime
names at Q. This advance in the rates due to
payments into the sub Treasury for coin and
new ive.twenty bonds OF 1865 Sold by which
its balance has been increased to $l2 $685. Disburse
nents will, however, be made account OF pur-
chases OF thirty notes. aud the amount will be
reduced and IN awhile the condition Of the loan
market shows there is for apprehensions of
stringency It is probable however, that the Treasury
il enveavorng TO strengthen its position In preparation
for the payment OF the Juno and July interest the
thirty loan and the redemption Of compound in
At intervals during the present year. namely the 18th
or June July and Augus-about forty millions maturing
in the latter month"; To provide for these the Secretary
OF the Treasury Is authorized to issue fifty millions Of
three per cent certificates Of deposit under special
act Of the last Congress, and he can also
issue new compound interest notes in place Of those
cancelled as his necessities may require, while in ad
dtion he has reserve Of fifty millions Of United States
notes authorized the redemption Of temporary loan
certlncates other than those referred TO.
81 II Is than probable that the Secretary will ind
himself compelled to turn expansionst In self defencs
notwithstanding his Fort Wayne speech aud ell the pre-
Actions relative Of specie payments IN
which he has since INDUCED to tho serious injury Of the
country At large. for confidence thereby unset
tied and trade and enterprise 70 some extent
parayzed The fruits Of all this are now beginning to
b. the present and prospective decline Of
sae and the endorsements with which the Treasury
IL threatened in consequence Owing the Indian war;
che Southern reconstruction bill and the bounty bills
the expenditures OF the Government likely exceed
its current receipts and IL Is considered probable that
either payments under the latter will have to DO de-
fsrred or Congress will have to mako fresh pro-
vision for supplying the Treasury with the necessary
funds.
Pho gold market was very firm, and the price ad.
vanced from 1854 ON Monday TO 1879 on Thursday,
after which II declined to 1863 Friday, and finally
closed at 1857 Saturday The Sub-Treasury ID sup
posed to have sold 10 about the extent OF its receipts lat
tery, although has not been seller within the last
two or three days. and this has kept the floating supply
ar coin in excess OF tho current demand
chat the exports Of specie for the week aggregated more
than four millions Tho demand for customs duties at
no DOR, amounted TO $2lsl 900 and the payments Of
interest on the godbearng debt 70 81 49, 900. The
xa.,Iv r.nra nf tina mark at II shOWn:-