New-York tribune., 1867-08-05
PETROLEUM AND MINING STOCKS.
FIRST BOARD.
SATURDAY, Aug. 3-P. N.

SATURDAY. Aug. 3-P NJ.
The last price Of Gold is 14Ol opening at 14Ol The
clearngs of the Gold Exchange Bank SAC 5SS OO0
and the balances $l,216G6l.
The export of specie to-day is $G0S 4 Of which the
steamer Borussa takes $SsO0OO the Arago $lO5,e64.
and the City of Boston $1225OO. For the week the
exports were sl,l600O0
Government stocks are stronger, and in more de-
mand. The miscellaneous shares are neglected and
dull The general railway share market is sluggish,
and buyers are getting to be less confident. The
cent advance has been engineered by weak houses,
and desperate spectators who argued that abundant
crops and cheap money were all that was necessary
TO stimulate speculation in railway shares, upon
which dividends are declared from money borrowed,
as regularly as dividend day recurs After the call
mces were lower Erie selling at 49, with lower rates
for the entire active list. The market is fever
ish and the decline does not stimulate new buyers
Erie after touching 73 rallied but soon broke again.
and amid the greatest excitement dropped to co.
The cause of this decline stated upon the street
to be the resignation of "a leading director" whose
value to the Company seems TO be differently appre
ciated by the public than by the party expecting TO
dsplace him at the next election, The resignation
of Mr. Keep appears to have a similar effect upon
New-York Central, which is fast moving downward
Whatever might be the effect of the resignation of
must show. So far as the past is concerned, it is n
matter of history that without him the Company
would have often been in the hands of the Sheriff.
The rest Of the market sympatlzed with Erie but
the decline in the general list less marked. The
last quotations were follows New-York Central
lO3l G10S7; Erie, 69sG69l; Reading 1O5 bid; Michi-
gan Southern, 7ss07sI Cleveland and Pittsburgh,
92I0921 Rock Island 99i G99s; North-Western, 4js
Q45l; Northwestern Preferred, GSlQGSl; Fort
Wayne, 1O5 bid.
Money is abundant at 426 per cent on call, and
many lenders able to keep their funds fully en-
plOyed at the outside quotation. Commercial paper
is without change, and Iot active. Late in the day
there was a good demand for per cent money. The
Bank Statement shows an expansion of loans OF
100000 an increase of 100000 in deposits gain
of $1,000 in legal-tenders and loss of s20000O in
coin The Statement is not one upon which borrow
ers can rely for continued ease in May.
Foreign Exchange closed dull. Bills at co days on
London are quoted at lO90lO99 for commercial 1901
QllO for bankers; do at short sight, l1OsG1lOl;
Paris at GO days, 51s.0513 do. at short sight, 52i
Q5ll!; Antwerp, s.G513s Swiss, 5.lS.G5.l8.; +;
Hamburg, So a SO! Amsterdam, 40ta4ls Frankfort,
4OsGA!; Bremen, 7sl07S; Prussian thalers, MA
72l.
The total imports at New-York for the week COM
pare as follows:
rv gcoG @ riding .93i 5q 's ,aosn I9y s s ls ds e
Geg Geg %shaldsc aodaa aSCi 5eCCi So5 2sS
Total. ta4Ss,a74 s522OS52 ss,22s456 s,H2,57O
The imports of foreign dry goods compare as tol-
lows:
For ns Wsek 1868. 1866. 1867.
Entered at the port. sl,S25io2 $213s,ISe sI3s2l2
Thrown on market.... l,49I,4co 2,CISSSo l,0's,So'
Since Jan J. 1865. 1856. lS07.
Entered at the port. .s s5O99o ssO442S25
Thrown on market..... 361301ls 77,03i027 55G9J,sS
Gold closed at 14Oi. The present is good timefor
the Secretary to sell his superuous coin, unless he
intends to repeat his blsnder of May, 1865, when.
with goldlat lS0 and the Bank Of England rate of in
terest at per cent he depleted the Treasury at the
lowest price. The question is often asked, why
with money al per cent in England and gold at l4O
he does not promptly give the market oOOOOOO and
use the proceeds in destroying s000 of plain legal
tenders per month. This policy would relieve him
from the almost universal imputation of running
with the inatlonsts and gamblers in gold for rise.
and from the charge of cowardice in living up to his
declaration about specie payments With Secretary
bold enough TO manage the ample resources OF the
Treasury in the interests of the solvent part of the
community instead of one devoted to patching up
the losses of gamblers upon the disasters of the coun
try long stretch could be made toward specie pay
ments by using the crops of the country for exporta-
tion instead of sending godbearing bonds and gold
bullion abroad Nothing but the presence Of ire
deemable paper money in the currency can prevent
the export of cereals in large amounts and the sooner
the Secretary who has camored noisily for power
70 cancel legal tenders operates in that direction the