The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-23
FINANCIAL AND CONNER CIAL.
THURSDAY, August 2e-sP. NJ.

FINANCIAL AND CONNER CIAL.
THURSDAY, August esp NJ
The railway share market has been unsettled to-day,
Sut after nuctuaiing fevershy it closed steady There
Is au absence OF outside support we'll as speculative
spirit on the bull side. and the demand ia mainly to
cover ''shorts" Erie at time sold down to 6s4,
but afterwards rallied TO 6s7< 90. Neither the bulls
nor the bears very defiant 'front.' but OF the
two the latter the courageous and talk OF much
lower prices 1t rains but pcurs In Wall street.
however That the market very treacherous one Is
obvious and advise the general public TO keep en-
trsIy aloof from it, leaving the professional bulls and
bears to light Il ont on thor present line.
The money market has presented an aspect OF quiet
case and although the general for loans on mixed
colaterals was nvs per cent there was . number Of
transactions q four per cent governments There
however no exceptional loans 10 the dealers In gov
srnmsnts a. three there were last week. and 20 far
there has been change; but the supply Of money Offer
ing on call 10 abundant. II 10 noticeable that more
confident feeling prevails a. to the continuance Of
tay ease than was apparent Immediately after til. last
bank statement made known. At the same time
opinions are still divided e. how long the present
easy condition Of affairs will last 1t is not generally
apprehendsd that shall have . really active ssven
Per ceut money market before October and how much
viii be feis then hs Stock Exchange Is matter OF
uncertainty. LAst fall It will be remembered prices ad-
vaucsd in the face or coosdeabls monetary strngsncy
and on tbs other hand violent panic in stocks
took place on an exoMely easy money Market Produce
paper being sent here for discount by the Western
banks TO moderate extent and it is generally taken at
seven per cent Primo mercantile paper quoted at
T. and Of this there Is somewhat larger supply than
usual of late. 'te
AT The ten O'Clock session o, the open board railway
call, Erie selling al 6Sx, aud Now York Central at 1Oisi
Al tho FIRST regular board there pressure
to SELL attended by further decline The stock OF the
Boston Hartford and Erie Railway Company sold at
the board FOR the Grst time, the price being New
York Central closed q lower than at the time yea
teriay. Erie 1, Reading ~ Michigan Southern tx.
Rock Island e, Northwestern u, d. preferred l. Mil
wauxes and IL Paul preferred r. Ohio and Mississippi
Certificates u Canton y, Western Union Telegraph TX.
Government securities heavy but moderately
active. Coupon skies Of 1881 u lower, five twcnes
OF 1882 u, issue of 1884 ~ issue of 1865 u, ten
fores ~ seven shirties of the third series
-. State stocks dropping Tennessee
skies new and North Carolina sixes new showed de-
cline OF ~ The old express shares firm but ct,
and Adams advanced u, selling at TAX. We have rc-
ceived note from the manager in New York of the Mer
chants Union Express Company referring to the report
teiegraphod from Albany and published In yesterdays
paper to the eoct that test suit had been instituted
in the United States District Court for the Northern
district Of New York by Henry E. Phelps OF Michigan,
against the Executive Committee OF tn, Merchants
Union Express Company, to restrain the forfeiture OF
his stock and the collection Of last CALI OF ten per
cent and also 70 the money paid and have hts
name stricken from the subscription Inst. The manager
OF the company s6ys:-Thers evidence In posses
sion Of Que oosu OF the company Of any suit being
brought against them, and whether false, they
are fully prepared TO meet It," Ell
Al the O'Clock session q the open board the
kst raacted. and Erie sold up osKax. Atthe second
regular board there diminished prsssureto ss and
prices reoovsrsd fon the lowest pot bstwees the boards
New York Csntra closed u higher than stthe nrst
guiar board, Erie x, Michigan Southern u, Cleveland
and Pittsburg " Rock Island " Northwestern q, do.
Reading was v lower. Govsnmens securities were
steady bat Inactive Tennessee State SKIES dc.
ciued y, but the new issue advanced Il.
A. The open board at hafpsst three the market
tnued to gain strength. and Erie sold at osk Michigan
Southern, COX; Reading. loa,I; Rock Island lo2K;
Northwestern, Az DO preferred, osx Hudson River,
1875; Western Union Telegraph, AK.
Daring the rest Of the afternoon the market dull,
.snd at six O'Clock the following quotations we're cur
,sn,:--Nsw York Central lolx los; Erie. esX 90;
: Reading, l03x . e; Michigan Southern, COX f;
C,evsaad and Pttsburg, % %; Rock Island lo2,<
y; Northwestern, 4S . H; do. Preferred osx 90;
Pacific MAIL Il7 n Ohio and Mississippi certificates,
2sx X: wssssra Unaon Telegraph, 42xaX.
the following table shows the highest and lowest
rces OF the leading speculative shares 10 1885, and also
IN tue month OF August IN that year,