The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-28
FINANCIAL AND COMMERCIAL.
Fsrpay. Sept. 81 g P. N.

made at l43H There bnsk borrowing demand,
ana loans we're made without interest and ., per
cent for carrying The ETess c. 81 oaa $50 and tho
currency balances 10 81 5l9 sos. There Is q large
"sbort" interest outstanding and Efforts beng
made 10 look "a well as Sell the market down. The
Treasury Is known to have recently employed three
brokers to sell gold AMI these happen be gentle
OF funereal aspect who have attery I'M
aertakeu to undersen the rest Of mankind In
the Gold Room Thoy the three black crows who,
birds OF 81 omen, expected to pu, gold down oy
their very appearance. and few OF the same feather
would Aud themselves al premium among the bears
The market has hrm tone, nevertheless, and while
mere arc many contingencies hab!e to occur which may
advance the premium there are which cause
material decline.
wish street stin befoggcd and everybody wants to
know what everybody else thinks, which shows that
nobody has any decided opinion Of his There
M general impression monsy will continue sctve
but that there will be enough Of it at seven
pr cent Those who think go loco sight, how
ever OF the liability none airy spasms
artificial or otherwise, on such . market, which may
force stockholders part with their securities the
most inoppsrtune moment. Tho semi string sncy nov
felt lie the result partly Of tho contraction Of ninety
eight mlions in legal tender notes during the year
ending the 1t Of September, and partly Tho efforts
bemg m'de in the West TO market The crops al the pre-
seui high prices The drain to that section has 10
ssr,,er than usual, owing tho last mentioned,
and is felt all the more because Of tho pre-.
vsous contraction. Tho Treasury, to-, has -
arranged IT. affairs that it Is aggravating rather
than modifying the disturbance consequent
this state OF things and confidence Is shaken accord
haiy Il viii become the serious duty OF Congress
-hrn meets define the dut,es OF the Secretary of
the Treasury ia every important particular and WITH
draw from hrn all power the currency and the
eo'd reserve No ous should have the control tina,
Mr. Met uoch present possesses the fortunes Of
the community, be exposed TO the temptations
which u offers. Mean while again suggest TO tho
Treasury the ADVISABLE " OF stating the amount Of coin
and currency separately in giving tho daily balance in
the Sub Treasury at this CENTRE for the figures they
now appear are a snare TO those who guided bv
them. To those who are about 70 take flyer In
socks and avail themselves OF the benoat Of the
cent decline, advice is-donr.
An apprehension prevailed early the day money
would be stringent and hence there pressure
70 sell securities In preparation for the pinch. but
failed TO make itself felt There an active demand
sur loans, which met at per cent but there
wers complaints Of any difficulty In borrowing
nrst class collaeras At the same nms lenders found
fUA employment all The money they had at their
Disposal. The ability OF the banks to lend Is being
gradually narrowed by the drain westward, AMI they
parsuing q cautious policy In preparation for their
quarterly the 7th INST. The supply Of FIRST
class commercial paper is light aud stl rated
per cent a. the banks although IL stbmits In some in
stances, to q 9 among the note brokers
AZ the commencement OF business the stock market
rather heavy ,one the early Of the
regular board New York Central sold A. l0,X Ere 615S
Rock Island 1oi &. and Michigan Southern SIX. Al the
rs regular board the market opened weak but became
nrn The call progressed New York Central closed
Ia nj fha lima Raal
hog 4, Michigan Southern ~. Cleveland ami Pitts
burg y, Northwestern "a. do. preferred T. Miiwau-
kce and ST. Paul preferred u Pacific Mail l, Atlantic
Mail Z, Canton l, Western Union Telegraph u.
Tor, WAYNE was K higher; Rock Island 4. Govern
ncnt securities moderately active, and
o.. coupon nvetweu,es n 1852 and 1864 steady,
while the issue OF lso5 showed decline OF Y. and the
issue o; 1881 ihres OF the second sores,
Is. State stocks heavy, and Tennessee new,
declined "a North Carolina sixes new, and Missouri
sizes Il.
A. the open board at O'Clock the market was
arm, Michigan Southern excepted. which declined TO
s0ss AT the halcpast two board prices slightly
10 the ascendant New York Central closed 2. higher
Than first regular board; Err u, Reading u, Rock
Island -, Northwestern e. do. preferred y, Fort
wsyne "a, Milwaukee and ST. Paul " do preferred y.
Canton A. Michigan Southern was y lower; Ciev
hand and Toledo y, Western Union Telegraph x. Gov.
twenties OF 1854 declined a. Tennessee SKIES, de-
eined e.
Al the open board at half pas, three the market
Aull and prices were without, material change. Erie
sold al elI Reading lei&; Milwaukee aud 81 Paai
preferred. 63a; Michisan Southern SIX: Rock Island
io2 North Sestern, 4lA DO preferred. 6sS, and Fort
Wayne lO2H. During the rest Of the afternoon the
nsKet nrm and at six O'Clock the following quota
tons current:-Ns~ York Central. lo1H at 1919;
1ol lolh; Michigan southern, SIX asix; Cleveland
and Pspurs 7sx 10: Rock Island. 1919 lo2; Fort
wsyns, lo2x l02k; Northwestern, AK Az; do
preferred. 65H 65S: Pacific Mai, $50 l30; Ohio
and Mississippi certi8oates, % 2ek; Weston Union
Telegraph IS 30, Milwaukee and 81 Paul preferred,
e3a0sx
There was very little activity In government sscur,-
slos Of tho leading Dealers and tho
close tho market vas weak.
The Treasury has entirely suspended IT. purchases Of
SEVENTH ry for the present and this has
What depressing effect upon prices The receipts Of
securities for sale from the country operate in the
direction. 10 the absence OF corresponding demand.
The mssket for foreign exchange nrrn, but the
demand for bills very limited. Bankers bills on
EogIand sisiy days quoted nj the lo9H
losK; at tire days. loo7s lio Commercial hills.
losg i09. Bis Psrs at siIy days, 5.l6h 5.lsk;
nj three dsyS 6l5s513,.
A Chi ago journal OF Wednesday thus refers 10 the
supply OF money, In connection with the movement OF
ttc grain crop
The urngency IN Wall stree, besiuu NC 10 felt 10
thc,xO bank circles aud money market " gradually
wo King closer. The kilograms received yeserday az
tsrED5n orderpg stoppagc sight bs sgains, caryocs
caused quiet in onaaela circles day though
two three OF the houses portcf q air degree OF
ncuv.iy. Several ten and tweniy day bs hills Of
lnBf 20 be attached offered Yesterday for dis
oocoI but such meet With little favor. Most n not
ali OF she bsnks, seem determined 10 keep the grain
mos mt In Ia hare a no finn
ssnoSn % mdEo the crop on credit. There Is too
much grain tho West, ana tho amount OF cur
rce1ired move u from the place Of growth |
70 this city largely In excess Of tina, needed |
In iormS years. that banks consider they are \
aoirg tlar share when they load the vcsecns aud /
vear theufsus Of the creek The Eat must do the
she waras grain. She has more capital thau wo,
and 70 there would be no trouble ~ moving
the crcp eveu twice sfgcl II the New foik
bank VIII loading tleir funds " opsraiors 10