The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-05-30
FINANCIAL AND CONNER ciAL.
wrnsxsn.s. MAY Mp. u.

"WEDNESDAY, May Z0-c r. y.
Tho publication Of Mr. Mconiiochs letter relating 10
one finances tbts morning impaired rather puoyant
Sona u the railway share Market and the advance
ps,,s was wen sustained at the close OF the day. Tho
.ns,o, ,nnresson which the ep.se referred TO con
ma, tho Secretary OF the Treasury finds that the
.i,no cor repeating the purport OF his Fort Wayne
,oeaeh aad portions OF hs annual reports in which no
pb,ophesies speedy resumption OF specie payments,
~, como py, and that he owes il TO himself the
country 10 make clean breast OF the situation
AMI confess the error Of his ways We were favored
VIA letter from Mr. Mcculoch, similar in kind but
spy rraeient In tome before some OF the Boston
gentlemen who invited him to dinner the present
easiop, invited him thon and he was kind enough 70
them with his views upon tho financial condhon
Of the nation almost "a freely as he does He
than riding his hobby the high road srecio pay
msnta which he confident could be reached within
. definite period, and that very shori
Firm In his resolve to contraci tho currency
- fast possible check specuiatos end BRING down
prices he assiduousy 10 work ara pcrsevered
ar that he came near killing the goose that
Hays the golden ess. Al length be has been
unwiningly compelled TO change his course
He 10 no longer able 20 contract the ncy the
revenues declining rapidly that they likely 10
fall considerably below the current expenditures and no
finds himself embarrassed by having TO provide the
She passed by Congress adding enormously
70 ths drafts upon the Treasury. He longer hope
ful IN regard 70 financial future He looks forward
20 an Increase instead OF reduction OF The national
Acbs but ike Mark Tapley, tries to be jolly under di
suss and hope that he may be successful at leas!
ln this in view Of his many shortcomings other
scspects.
There has been moderately active demand for moucy
to-day al six per cent among tho brokers, owing
anez violin ~ bncin tta
although In some instances dealers in government 30
surtios found difficulty in supplying themselves at
ave Tho supply Of irst class commercial paper is
light and whatever offers is freely discounted
per cent and In exceptional cases at 3H and ~.
Az the first regular board railway shares were nrm
New York Central closed higher than at the same
Anne yesterday Erie y. Reading l. Michigan Southern
J, Cleveland and P.t,sburg q, Rock Island x, North
western A-do. preferred Is, Fort Wayne 11s, Ohio
and Mississippi certificates y, Pacific Mail r. Canton
Boston Water Power lower Government securities
wore steady. coupon nvetwentes OF 1862 advanced "
Five twenties of 1865, Of the issue, declined r.
Among the State stocks North Carolina skies advanced
e, and Tennessee skies new * while Missouri SKIES
fsohned n
n the ono O'Clock open board New York Central sold
~ ssA, Ene 50s< u; Hudson, 10l; Reading 1o3x;
Michigan southern 677s; Cleveland and Ptsburs, 74s
n; Rock Island, So; Northwestern, 3s1s do. pre-
rsrred, So r.
A. the halfpast two O'Clock regular board market
was Arm at slight advance. Hudson River closed q
higher than at the rst regular board Michigan Southern
u, Cleveland and Pttsburg a Rock Island a. North
western u, do preferred s, Toledo, Wabash and West
srn y, Ohio and Mississippi certificates u, Pacific Mail
- hariposa preferred u. Fort Wayne was y lower.
Government securities steady but inactive. Seven-
thirty notes OF the second declined ~ Tenn
olats skies OF tho advanced \ and Missouri
sxes declined y
AZ me haf-past thrce O'Clock open board New York
Central sold at 9sx; Eric, COX; Reading, lo4 Mich-
On Southern os,s; Cleveland and Pittsburg. rs y;
Book Island son; North western, sSA y do preferred
~ X; Fort Wayne, s7x; Ohio and Mississippi cor
uacales, 25h. During the rest Of the afternoon the
market remained firm, and At half past Ave the follow.
nc quotations current:-New York Central ees.
=; Ere, COZ Y; Reading, lo3K q lo4; Michigan
oouthsrp, % \; Cleveland and Pittsburg, IS a. y:
nsck Island, ssx q; Fort Wayne s7a3; North
WESTERN aax X; do. preferred, osk "; Ohio aud
H.assppl certificates, 2s,s X, hariposa preferred,
sleK al1x.
The following comparison OF the lowest prices Of the
sdng speculative shares 1861 and those current this
nernins shows that thcy average about 6ffy
pr cent higher than they At that time:-