The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-05-12
FINANCIAL AND COMMERCIAL,

FINANCIAL AND COMMERCIAL
SATURDAY, Nay 1l-ePM
Thsfe e no change TO note in the condition Of none
t9 AFFAIRS the supply Of oanable funds being stiI in
excess OF the demand and the desire 70 employ balances
over Sunday causes greater pressure 70 lend on Satur
day than on any other day Of the week. Loans wers
made to-day on governments q four and on mixed col
iAseras at nve per cent while nrst cas commercial D.
per Was discounted at per cent The fact that the
amount OF currency in circulation ID about eleven mill
mons larger now than was ON the lst Of June 1885,
waen prices were much higher furnishes an arguments
On one side q the question in favor Of recovery nom
tAs depression Of the last half year on The Stock Ex-
enease Moreover, although the Secretary Of the Urea
soy hempowered By act OF Congress contract United
Ssasss notes y the rate Of four millions q
month, the Indications ere such that hs is
hkssy TO md himsef poweress 10 avail himself OF this
authority to any material extent for considerable
dsnssa Of time 70 consequence Of the decline in
she revenue.
Ths total internal revenue receipts from June So 1885,
% April %, 1887 s225. $50 00o from
ooo0 making total of $3ss $50 0o0 counting
gold at par The receipts for the corresponding period
q 1895 % were s25o $3.50 600 from internal revenue
$tS5 900 from customs making total or $685. 28s 000
Tue reduction Of the income tax estimated 1t ninety
revcnse for the fiscal year.
mo railway share market has bean dull and although
1t showed considerable nrlnness in the morning. the i'm
provement not sustained The statement OF the
associated banks for the week is likely further
large increase in deposits, estimated at about ave
millions, and the specie an increase OF an
equal amount. The legal tender notes, on The other
hand. will probably show decrease Of between and
three millions, and the loans increase Of somewhat
securities by the banks
At the ten O'Clock session Of the open board railway
shares we're firm. New York Central sold al %; Erie
63ss. Reading, 1o3a; Michigan Southern 6sh Cleve-
land and Pittsburg 1914 u; Rock Island, S9k X;
Northwestern sS,s "a do. preferred o.; Fort Wayne
81; western Union Telegraph, 49, A.
At the first regular board the market continued nrm
bat the volume Of business rather light New York
Central closed 4 higher than the sam. time yeeter-
day; Erie X, Hudson u, Michigan Southern y, Illinois
Central y, Rock Island u Northwestern u, do pre-
ferred "a Fort Wayne u, Milwaukee and St. Paal pre-
fsrred y, Atlantic Mail q, Cumberland 4, Western
Union Telegraph Il. Pacific Mail was y lower.
Government gold bearing securities became strong
under the peace from Europe the general mpres
sion being that fresh demand for Avc-twentes win
spring up in Germany in consequence Of the settlement
Of the Luxembourg difficulty without appeal to arms
Coupon ivetwenties advanced y, skies Of 1881 X,
fortes r. Missouri y higher and Virginia
Gxss " tower.
At the one O'Clock open board the market was dull
and steady. New York Central sold at 97h y; Erie,
Ssx "; Hudson, 9s,l u; Reading, 10aX; Michigan
Southern 67s< Fort Wayne, ee,l Cleveland and Pitts
burg, TN Rock Island. s9sS Northwestern, a5,s do
praderred, 6oX u; Western Union Telegraph, AN
During the Of the afternoon tho market renamed
dua and at halfpast Eve IL steady following
quosataons-New York Central, Elk n; Erie, 62x X;
Reading, 103H e; Michigan Southern, 6T,s 4;
Cleveland and Pittsburr, 72k HI Rock Island. ssz
20; Fort Wayne, 96x 81; Northwestern. 344 q Y;
Do pssferred, soK u; Pacific NAIL l3s 10; Atlantic
Mail, o. o.; Ohio and Mississippi Certnossss, 22S
~: Wesevn Union Telegraph, - 4.
Government securities were strong u ths close Of
business and quoted thus :-lsSl coupon, lllk n do
resiAered, lllk Az; $40 coupon. 1884, t00 y; do.
1854, 1o5ka y; do. 1886, loex X; DO. new issue.
1o7X 1857 1910 coupons sok 100; $40 notes. lst
series. 1861 ~; do "a series, 1o6K y; do. ID
series. 1864 y.
Ths gold market opened u 100. decline OF only z
from the lowest point touched yesterday gradually
advanced 1861 Notwithstanding the conclusive char
ase Of the cable in relation TO the peaceui sca
~ IL tho Luxsmbum question. The advance not
sustained however although The shipment Of specie
msch larger than had been expected. and the pce
sHSsd 13sK, but the closing tnsaossoas in the
os q l35x. Lsaas 1910 y pr ssss in favor
e tAs borrower and without interest," The export Of
spsos aggregated g. ooo Of which the City q Paris
eek 400 0oo. N Fulton sal2ooo and the Tsutoaa
$4,000 !.