The New York herald., 1867-02-15
FINANCIAL AND COMMERCIAL.


THURSDAY, Feb. Is-6PM
The railway share market has show further Signs o.
weakness and demoralzaton to-day under the hammer
ing sbeas and the absence strong buyers fo
rise The weakness of the street is daily becomina
apparent in the yielding tendency OF prices when
any pressure is brought against them ana
the large holders Of stocks becoming weary OF tne,r
burden The old 'bul" combinations have been en-
tirey broken up and therefore unaos to do any.
thing either in the way of resisting promoting
FALL The outside support upon which the main reliance
for fresh speculation for has placed Is more
feeble than when prices their lowest point
after the last panic The Inducements to buy which ex-
listed then have been diminished by advance which
has since taken place, and Of those who bought
largely when bottom was touched have since sold out
II does not follow, however that because market Is
ut present weak and uncertain that will long remain
60 Prices have been 90 far depressed that upward
reaction is inevitable but the losses sustained by the
street during the last three months have been 20 heavy
that ii IS not impossible prices may 60 lower before they
materially improve Yet there 10 nothing in the cond-
ton OF the money market excite distrus and
are made freely 70 the Stock Exchange good colats-
rails, a. sx per cent, while there difficulty bor
rowing on government security at nve In the discount
line frst class commercial paper takon the legal
rate Of interest
Tue gold market opened at 1917, but soon reacted 70
1877, and then recovered 1917. The Improvements
was not, howe yer, maintained, ana at Quarterpast
three the price touched 1854. and finally closed at
1885, Loans made st two six per cent per diem
for carrying and without interest The hrmness dis
played during the morning attributable TO the pass
age of the Stevens reconstruction bill in the House OF
Representatives. and the subsequent decline to doubts
its fatc in the Senate The volume OF business is
at present very large and the market is sustained
ain nv 10 huy incl INN
distinguished from the spectators by profession
The great majority of the latter are content with
ting profit and close their contracts after q trinng
loss on their operations; and they influence the
course OF the market no more than flying
feathers do that OF the wind. They are
simply the weathercocks OF the hour, and their
views narrowed the scope of the cockpit in which
they ply their vocation. They follow leader like
flock of sheep, and it is amusing to watch them all
jumping at intervals single straw. Yet they look
as wise owls they into each othofs faces
round the grotto in the room and OF them think
that they have influenced the price OF American gold
when they have been merely making enough to pay
their board bills The price Of gold is independent of
speculation. and those who speculate in IL solely
matter Of business follow very poor business indeed
Al the early session of the open board the railway
share market was heavy and dull New York Central
sold at l0l; Erie, 57A Is; Reading 104H Vi Michi-
gan Southern 73%; North western, 37sS Y: do pre-
ferred, 6S 6sh; Rock Island, 9Sia; Fort Wayne eS
regular session of the board the pressure sell
exceeded the demand and prices declined on the cali
New York Central closed lH lower than At the same
<ime yesterday, Erie 2%, Reading X, Michigan South
az Cleveland and Pittsburg IL, Rock Island u,
Northwestern TX, do. preferred 1: Fort Wayne u,
Pacific Mail 8, Canton lk. Chicago and Alton wis
higher Government securities were firm Coupon sixes
Of 1881 showed advance Of ~ thirty notes Of
the first series ~ third series e. At the O'Clock
open board . further decline took place. New York
Central sold At l00k 4; Erie, 5ex n; Reading,
1O4s " Michigan Southern TAX 7s Illinois Ceptral,
1l5Ki Cleveland and Pittsburg, sS h: Cleveland aud
Toledo lioh; Rock Island, 0sx; Northwestern, sly;
do. pre- erred, o7Xj Fort Wayne o7h- ri
At the half past two regular board the railway share
market continued heavy, while governments arm.
Coupon OF 1884 advanced 4, avewenties OF the
issue OF 1885 q, and seventhrty notes Of the
ond ssrie. u. New York Central closed X lower than
At the arss board. Erie " Reading u. Cleveland and
Pitsburg 4, Rock Island n, Northwestern ~ do.
preferred x. Fort Wayne 4, Ohio and Mississippi GER
Sincates 4, Pacific NAH Q, Canton y, Western Union
Telegraph s.. Atlantic Mall higher Al The half
past three open board the market weak and
New York Central sold u 10ok . q; Erie. sex u;
Reading. I04 Michigan Southern, 7aX Illinois Central
1l5k; Rock Island, 97,f y; Northwestern, S6,s; do
market remained steady u the decline, and at hapsst
Hve the following quotations current New York
Central. loox n: Erie, sex a y; Reading 1o4 Y;
Michigan Southern, TAX 7s Cleveland and Pitssburg.
ss; Rock Island 97,l %; Northwestern. sox Vi do
preferred, SIX Y; Fort Wayne, 07 X; Ohio and Mis-
sissppi certificates, 2sK.
The foreign exchange market was dull and there was
no noteworthy change In rates Bankers bills on Eng
land at sixty days quoted at the close At l0Sx
three days, l09x; commercial, l0Sx l0Sx; bills on
Berlin, 70 "; on Bremen. 7s1 70; on Frankfort,
l0k Az; on Amsterdam, 40x AZ: on Hamburg,
20 u; on Antwerp, 5.21 6.1sx.
Mining stocks were active AT the nrst hoard Quartz
Hill closed ASc lower the second board yesterday
selling at - 50. Consolidated Gregory Gold was Sc.
,higher selling sl2 80 Des Moinss sold at 80 S. At
the second board Quartz Hill closed f5c. higher than
a hrst board selling nj - &C. Consolidated Gregory
Gold was 25c. lower, selling al $l2 0s.
Mr Albert H. Ncolay sold at auction to day tho fol-
lowing bonds and stock
$40 900 Western Union Telegraph Co. bonds e9h
10 shares st Nicholas B9pk...... l0s
is shares Grocers' Fire Insurance 90
10 shares Beekman Fire Insurance Co.,. 3SH
20 shares Breyoort Fire Insurance Co............
81 shares Fulton Fire Insurance Co........... 50
Tho business transacted ct the SubTreasury n this
city to-day as follows
Receipts 81, ,744,053 For customs sSa! COG cog
Paymeuts..... sos, $50 Gold notes.. z3l,0O0
Balance. Ills, 1872. 43l
despatch from Washington says that the amount Of
compound interest notes maturing during the present
year aggregates 1lsoo5l22, including interest," and
that the total amount outstanding, interest included.
sl.o 22s SOL. II this statement derived from an
oaciai source how be reconcilcd with the state
men Secretary Of the Treasury TO Congress made
last year In which the amount maturing this year was
stated at less than half the amount which time
considerable sum Of these has been Withdrawn
from circulation. win Mr. McCuIloch please expiaini
II appears that the Produce Exchange IN this city has
adopted tho GENITAL system Of measurement which has
become the rule in other Cities the following resolution
having been passed unanmousy:-