The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-06-20
FINANCIAL AND COMMERCIAL.
WEpsEspAr. juno 1a-aPM.

Ano Runway oHsss uAfket mas tak0n q DOWNWARD turu
today and the bulls Who have been struggling to sus.
tain Il. feel sOrely discounted The movement was.
under tue circumstances very natural one for wthou
Outside support and with . very limited amount Of
eHnsr puok or money among the professional specua-
ss tof nse any considerable advance impossible,
ana the tendency towards stagnaton some attri-
outsa the decline however . feeling Of uneasness
snsag from the proposed reassembing Of Congress
July, while others referred 1t TO fear OF monetary dis
suosnce resulting from the preparations OF the banks
make their quarterly returns on the LIST proxmo and
row mad imagination enough 10 connect 1t with the Br-
'mingnan riots The expected meeting OF Congress
10 doubtless calculated unsettle the stock Market
and the supposed possibilities attending the general
cooking OF national bank accounts in favor or
sne bears than the bulls; but the real element Of weak
ness lies In the fact Of It's being brokers' market And
It will DO good thing for country the public con-
tnues 70 leave II severely alone until the number OF
brokers and other professional spectators greatly
thinned and tho barrooms in the vicinity Of the Stock
Exchange are corespondngly deserted The spectacle
Of humanity which daily presents itself the eye in
that neghborhood Is pablc indeed and suggests to the
mind sreformatory for slame DUCKS" and incorporate
stock gamblers generally. To these might lie added
small population Of corrupt and slockjobbng railway
direction: and as birds OF feather, they might
be expected to flock together form sort Of happy
family OF 'gutter snpesn 1t Is lamentable that the
finest and most promising properties in this country
should be subjected to management distinguished
above ell things for its rocnness and tina, socobbers
should oentrol the market price OF so important class
OF securities a. railway shares
The moaey market shows steady stock houses
IN good credit can borrow all they require at six Der cent
on mixed coilateras and at five SIZE on governments
rev exceptional transactions reported at seven
Per cent but these on inquiry will be found be for
smau amounts Tho Sub Treasury Is understood to be
sousng on account Of purchases OF seven thirty notes
ana she balance this evening reduced $132 4O3
Inc supply OF FIRST class commercial paper not sui-
Gent 70 give employ to any considerable amount OF
capital and whatever offers passes seven per cent and
In Some Instances at half per above and below this
rate.
Railway shares were nrm at slight advance upon
the closing quotations Of last evening" before the first
regular board but on the cali the market developed
downward tendency. New York Central closed ,.
lower than at the same time yesterday, Eric X Mch.
gan Southern e, Cleveland and Pttsburg H. Cleveland
ana Toledo y, Rock Island ~ Northwestern Il, do.
preferred q, Fort Wayne ~ Ohio and Mississippi certi
ncases a. Pscfc Nail ~ Boston Water Power a. Gov
eminent securities duh and barely steady the re-
cent bull movement them on the part Of some OF the
principal dealers having eliminated. The only deyia-
lions from the prices current yesterday morning were
decline Of In fve-twenes Of 1886 and advance Of
In seven thres Of the FIRST series. Among the State
stocks Tennessee SKIES Of the issue declined and
Aiasear syes y, while North Carolina sxes new, ad-
vaaosd n.
Al tho two regular board the volume Of bust
neas was Light and the tone of heavy Erie
CLOSED lower than 1t the first regular board Michigan
Southern x. Rock Island 4, Northwestern x, d. pre-
ferred q. Ohio and Mississippi certificates r. Pacific
Man e, Western Union telegraph Y, Boston Water
Power r. There change in the prices Of govern.
menta seven-thiries excepted, which declined x.
Tsnnsssee sixes Of the new issue advanced u.
At the open board at halfpast three the market WAS
inactive and shade lower New York Central sold At
1Ols< n; Erie. SEX 4. 81; Reading, 1osx Michigan
Southern esx; Rock Island S0zS Northwestern 34A;
do preferred, 5sx: Pacific MAIL 14oa.
During tho rest Of the afternoon the market was dull
and ct halfpas i've tho following quotations
irsnt:-New York Central, l0lH n; Erie 59K X;
Reading. 1857 l07; Michigan Southern, eSN u;
Cleveland and Pittsburg, n Y; Rock Island, s0s NJ
Fort Wayne, s6X S7H; Northwestern, 34X Z; do.
preferred, 5sKax Pacific Mail, 14oX x; Atlantic
Mail. 1861 lot; Ohio and Mississippi certificates 24
. q; Western Union Telegraph, ~ AZ.
Government securities dull at the close OF bus
nes and quoted thus:-Registered, 1881, l0sX x;
coupon, 1881, Il2K y; $40 registered, 1884, 107
A;kae coupon, 1852, llo3s y; $40 coupon, 1864,
l06X 1O7; $40 coupon, 1855, 107 x; $50 coupon,
1896. January and July, 100x e; 1910 registered,
COX 10oK 1910 coupon, 100 y; August 7-so 1o6x
= NJ june, 7-so 1904 n; July, 73o. 1884 u; July
compounds, 1894. 119 y; August do. do. llSH Il;
October do. do, 117x 11s; December do do, III
y; May do, 1885. 1leK ~; August do. do, li51I
q; September do do, lis u; October do do l141l
allb.
me gold market very firm, although the extreme
advance or the day to 1881 not fully sustained
The lowest point touched 1874, and TIRE closing
transactions at lbs. Loans made without
and 1o4 per cent for carrying The gross clear
fngs larger than usual Of late namely, &4 00O
while the gold balances $0oO.54l. The steamer
City Of Washington from this port took &55.0 900 in
specie and the Cuba from Boston 100000 The pros
psct Of the Treasury disbursement Of about eighteen
millions Of ooin due the LIST Of July portion Of
che Hvetwenty loan. the skies or 1881 and n variety
OF bonds issued prior to the rebellion tends to check the
upward tendency which has been impaired to the
ket In consequence OF the expected meeting Of Congress
next nonth. The apprehensons arising from the lat
very vague and win probably prove groundess
Tho volume Of speculative business Is light and the
port demand OF two or three millions week checks
operations for fall in addition to the first re-
ferred TO.
The foreign exchange market showed more nrmness
than yesterday under fair demand bills and light
supply Bankers bills on England at sixty days were
quoted 1t ITO 1lo1; at TIRES days, 1l0k y; COM
mercial, 10ok 109X; bills on Paris at sixty days,
e13x 512K; at three days. 6.11I a $40.
II appears that the French Imperial Commissioners
managing the great Exposition have sent notes most
OF the important nations Of the world inviting them to
send special delegates 'Tnternationa Convention
20 carefully consider the question OF universal system
OF coinage and collect the views Of the different
mercal nations regarding IT. Fifteen sixteen govern
ens have IL is said, accepted the invitation. and their
delegates Paris have been endeavorng to roach
suit In which all could unite Mr.. s. b. Ruggcs, Of
the delegates from tho United States wrote lot.er In
this connection to Senator Sherman stating his views Of
tho importance and practicabiy Of tho measure and
his reply follows
HORN. JARpry pEs TrnxRrEs, May is, 1857
Mr. DRAR sR-Your note OF yesterday inquiring
whether Congress would probably. in future coinage
make oar gold dollar conform In value to the gold ave