The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-06-19
FINANCIAL AND coMMERc GAL.

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f# scI ~uespAy, June 1852 NJ
There rs HOMOGENEOUS dalness sbmr basin 81 ON 'he
stock Exchange and the daily clronic o. the dtngs
thereon Is becoming famiisr taic told tate 10
those who pcruse this column the newspapers The
saJ share market without decided featare
We except It's duIness and somewhat uayeidng tend
eucy Tho bulls seem 10 DO losing rather than ganios
ground, owing 10 the absence outside support, AMI
the public still mancsts the ndiG,reuce that IL
has done since last autumn Amore confirmed brokers'
market than now exists has been known Wall
street; but n hope lives stsrnal in the human
breast and 'man is, but always TO
DO blest the brokers and other professional specua
tors are anxously looking forward relief from the
ooiging public. Investors aud speculative outside
louussrs are, however distrustful Of railway shares,
because they have no sable value. fhe majority
Of the directors OF leading railways stock job
bers, and the property under their control managed
more for their personal benefit for the public
good. They periodically make arrangements to run
their own stocks up or down, may best accord with
their own interests, ami In all these movements
the Welfare Of the stockholders receives no
consideration The object Of course, In ali
cases is to divert money from the pockets Of the public
to their own and they systematically combine for this
purpose II a manner which leaves them open to the
ways Of this country were we'll managed they would,
with few exceptions be good dividend paying proper
ties and their stocks would be rapidly absorbed for per-
manent investment, and almost entirely with
drawn from the stock Exchange. and the time will
come when this will be the case and stock jobbing
and wholesale corruption wilt no longer disgrace
American railway management But until this
change takes place the leading railway shares will
iinue TO be the footballs Of speculation, and railway
managers will manipulate them their own advantage
regardless Of consequences II Is under present cir
cumsances often TO the interest Of speculative direc
tors to- bear their stocks to bull them and hence
they frequently DO found not only talking them
down. but doing their best to njure the property they
to protect The brokers follow the lead in many
Of these profess spectators and share the po
so far as the Stock Exchange s concerned 1t is easy
however to that practical mismanagement skilfuly
designed, may bring money directly into the pockets Of
directors well Indirectly through stock operations
The money market shows increasing ease, and the
supply Of capital is in OF the demand per
cent satisfactory coaterals tho exceptional trans
actions at seven being for small amounts and OF these
there are very few. On governments the principal
dealers are enabled 10 borrow In most instances FIVE
per cent? and thus far there signs Of approach
ing activity in consequence Of the preparations Of the
banks for their July the Treasury There is
perceptibe increase IN the amount Of commercial
paper seeking discount and the best grade is generally
taken at seven per cent the exceptions TO the rule
being at half per cent above and below this rate.
Al the first regular board railway shares nrm and
moderately active New York Central closed y higher
than at tho Same time yesterday, Erie X, Michigan
Southern M Cleveland and Pttsburs ]. Cleveland and
ferred y. For Wayne ~ PaciHc Mail =, ohio and Mis-.
ln -
ties dull and steady the dealers who were recently
buIng them having sold wholly part under the
belief that tho rise has culmnatsd for the present.
The only variation from yesterday mornings prices
in seventhirty notes Of tho st senes which declined
u. Tennessee stass SKIES advanced ~ Missouri SKIES z.
At the halrpast two regular board the market was
rather heavy New York Central closed Y lower than
o. shs Ont regular board Erie y, Michigan Southern
4, Rock Island x, NorthwssisfH 4, do preferred y.
Toledo, wsbash and Western y. Quicksilver " Gov
eminent securities dull and steady, with the
ceplion Of nve-twentss Of 1885, which declined y. "A
During the rest OF tbs afternoon the market du
and without material change. and ~ hafpast i've the
subjoined quotations current:-Nsw York Central
lolx x; Erie eoa &; Reading, lo7K Ak; Ac. Ian
Southern, eOK . y; Cleveland and Pt.sburs, IN, Y;
Rock Island scH x; Fort Wayne, o4x { y: North.
western, asH X; DO preferred, s0x AZ; Pacific
4aiI, iSl = -. as
Government securities weak q the close Of busi
II the following quotations 1ssl coupons, ll2yi
rs; SO coupons 1854 llQ:i x; $40 coupons 1854,
lo7aH X; 20 ooss'cas ises. lo7xa X; $40 coupons
1865, nov ia6as ioek AZ; 1910 coupons loOx X;
$40 no'ss nrs, serisa ioex y; $40 notes. second
series, ioex X; $40 notes, third series, lookaX.
The gold market hes been very nrm and the premium
experienced . further advance the range OF the day
having been IRON l3Ik TO 13s with the closing tansac
tons At 13'k. Loans msde without interest and
ut var,ias from per cent for carrying 1872
per per diem for borrowing. Tho gross clcarings
amounted 70 $500, 900 and the gold balances 10
$l.433, 81. sM
The market for sterling continus hrm and bills are in
demand: but IN continental bills there Is very little
doing Bankers bills England at sixty days were
quoted A. loe,s 1loS; at three days. l0sx . lloX ;
commercial, 100 1904. Bills on Paris at sixty days,
5.lsk sl2,s; at three daysnGu 5io4.
The receipts for customs ~ receipts payments
and balances ct the Sub-Tfe> in this city for the
expired portion OF the week have been folows:-
Casom House. --ASnl- Treasury --
M R~eipfs. Reeeipfs. Paymsns Balances.
June II 1859 o07 So 932 ts5 s. $685. $134 241
juno 49,. 100000 1,524,9o3 1897 133, 500 500
The total value Of exports exclusive Of spsce) from
the port Of New York TO foreign ports for the week end
ing June IS was ss,os5,soA
SALES At TINE new yoak STOCK EXCHANGE.