The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-01
FINANCIAL AND COMMERCIAL.



THURSDAY, Oct 3l-e r n
The gold market was further depressed thts morning
ny the European which construed in favor OF
pacific termination Of the GarbadI dlfhcuty, aud the
opening transactions were at lAo's from which point
there was decline l4ok. the lowest price touched
steady advance 70 lAox followed, and the closing
quotation was llos l4ok. There was an active Dor
rowing demand for coin, and loans we're In nost
instances made '.nAt," the exceptions being a.
i-el per cent per diem favor Of the lender or
the coin and . . per cent per snnum FOR carrying.
Tho groas csarngs amounted 10 s7As5l o0o tho gold
balances 70 1sll, sss and the currency balances to
ESQ l2l The tosal amount Of gold certificates Issued
by the Treasury up to last evening $22S go
a which s10s $4,000 had been redeemed, leaving
$40 7oa oco outstanding Americas silver quoted
* asK per cant below the price Of gold and Mexican
dollars are rated II lo2k . 100 In gold The steamer
Union took oat ST. 200 in specie Opinions dinsr widely
a. y the fusurs couzRs Of the premium. but
for the time bsng the bears largely in the majority.
The nrmness Of The market for foreign exchange At the
recent advance however, and the heavy coin payments
which the govsrnmsns will have 70 make during the
next few months tend to check any further Decline
pecaIy in view o. the meeting Of Congress next month
when che discussion Of questions Of disturbing
Ter connected with the finances and Southern ~
construction certain 70 operate in favor
Of higher premium Vague rumor anoat
- The effect that Mr. McCulloch win advocate .
speedy resumption Of specie paymssts in his forth
coming annual report and show that he has contracted
the United States the full extent Of his ability
sinos the act authorizing him 70 contract into
operation II Is needless 70 ny, however that undue
haste In continuation, and other measures with TO
resumption OF specie payments. would only defeat that
object. and Ill the words ef promise sn.resty
that the Secretary Of The Treasury may wiz have
aitls effect in Fastening the approach OF perma-
nent resumption BY single day; but injudicious efforts
70 force premature resumption hardly fail in doing
much retard The currency has already besn con-
tractsd TOO fast and trust that Congress viii during
the next session withdraw the authority which the SEQ
sstazy has curtAi the Of United States notes
At the rate OF four millions . month.
The supply q money available for the Stock
Exchange continues in Of the demand loans
were made freely ~ per cent on mixed coiiatsras,
and In instances the leading dealers IN govern
securities a. per At the same time there
fl growing disposition the part OF the banks to in
crease their discount line; but only prime paper ia
vor and the transactions almost exclusively confined
70 the offerings Of Their customers, the being
per cent; bat outside Of even the
names have 70 submit to 10 per cent. Tho indica
lions that the prevailing will extend through
shs coming MONTH although the per rate
may become general whsrs It u now wholly excep-
tonsl Tho monetary facilities a the disposal Of the
Stock Exchange are, nevertheless without any appar
sut effect in stimulating speculation, aud the bull
cliques have the game nearly al to thsmselves
Higher prices freely talked Of but anguor
the market whenever the cques abats their active
manipuat.ons, and to-day It's tendency throughout
dropping. although material decline established.
The duness and depression trade and elsewhere
adverse higher prices for railway Shares with,
peThape ono or two excepons{ but one knows what
70 expect In market BY clques and supported
BY artificial Influences which liable to be Withdrawn
or strengthened At any moment
There a moderate business transacted in govern
securities the counters OF the leading Dealers
and the market frm, and for the old Avs-twentes
OF 1865 strong, partly In consequence OF the large
sshort" interest In them which has led an active
Borrowing demand and caused several firms 70 fail in
making their deliveries At the close entire market
was strong the subjoined quotations REG
1SS1. 11lh 1l1A; coupon, 1884, liz ll2h: S-2o's.
registered 1852 104 los14; $685. coupon, 1882 1l2x
. 1l2k; 6-20's, coupon 1884, looH 109JS; S-20's.
coupon 1868 l1ok ii0H; do. do. January and July,
107k . l07K; 5-2o's coupon, 1867. 1917 a lo7s;
1o4os registered 1ook loOss; 1o-4o's, coupon, 1907
= l00H; goid I40x Il0s1; June 1905 1861 1861
July sos 105l< 1867 December compounds 1864.
ASK 119: May do 1865 ll7K a I17h; August do
do, 1867 ll6ss; September do do, 1854 1861;
October do. do, 1151s 1lo
At the commencement Of buerness the railway share
rnarket dull but steady and at the early session Of tie
open board New York Cen raj sold l13s Ere, 73K
73H; Michigan Southern, 7sK; Cleveland Pittsburg.
ssS; Rock Island, s75s s7k; North Western, ass;
do preferred cox 6e'l; Fort Wayne, o.
At the first regular board there diminished firm
ness but moderate aud well distributed volume Of
business was trsnsacsed Eric closed higher than a,
she same time yesterday; Reading y, Cleveland and
Pittsburg * Cleveland and Toedo 4, Rock Island IL.
Fort Wayne n, Ohio and Missirsppi certificates X.
North Western was 4 lower, do. preferred 4, West
ern Union Telegraph 4. Government securities we're
dull Coupon AVE. wenties Of 1892 closed y lower:
csveu-thrty notes. I'd series, y. Coupon fvs-twentes
OF 1855 wero y higher; new Issue, k Subsequently
Ave-twontics 1855 In active borrowing demand,
and in the absence Of corrsspondingly largo supply,
saiss we're made At 1iox for cash. There had been
some warm discussion at The Board previously with
respect to buying bonds In under rule.
Of those failed in their deliveries but definite
course Of action in the matter decided upon, and
Gales were made 81 1l0 seller thirty days, fiat"
subsequently speculative feeling became iangad,
and the market had dropping tendency. At the open
board n O'Clock there partial recovery, and
New York Central sold at ll3k; Eris TAX Tx;
Michigan Southern, 7s,I Rock Island, ook . oo5s,
Northwsstern 4s; do. preferred, Cox; Fora Wayne,
o7k . e7n; Western Union Telegraph. 33x 33Z;
Adams Express, oSz; Wells, Fargo 4 Co.'s Express,
Sly.
AZ the second regular Board the market was dun and
barely steady, with the exception Of Alton aud Terrs
Hauts preferred. which advanced ~. New York Gen.
oral closed lower than At the nrst regular Board, Erie
=, Reading u. Cleveland and Toledo Il, Fort Wayne ~
Milwaukee and 81 Paul preferred y. Western Union
Telegraph y. Government securities were nrm sizes
Of 1881 closed higher issue Of 1885 y, issue OF
1ses x. sevep-thirtiss. second series y. Missouri
u ~
rose ~, Wells, Fargo Co.'s *. #
The Of the original and present capital or the
cid express companies 10 thus shown
Original CdpadL Present Capital
aAssna Exnress Co $1,000. $500 600 40 0n0 600