The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-05-08
r FINANCIAL AND COMMERCIAL.
TUESDAY, May To p. N

TUESDAY. May 7-6 p. NJ
Inc railway share market has been weak ana excited
eo-day those who were supposed to be bulls in Erie
having apparently joined hands with the bears for the
time being TO depress It. with view to taking their
stock back at lower figures preparatory to running the
price up again There a sharp rally after the
extreme point Of tho decline had been reached the
demand Tor all the leading stocks. both to cover
snorts' ana from spectators for . rise, being
very spirited The causes affecting gold we're not
without an unfayorable influence upon the course
OF the Market although there was no good
reason why they should have exerted any Money con-
unues in superabundant supply, and loans on mixed
coaterais are made at five per cent with exceptions 1t
nx, while on governments the transactions
per cent In the discount line there very little doing
ana the best grade Of commercial paper freely taken
atoa per cent
Inc gold market was strong and excited the range Of
the day having been from 137A y, at the commence
ment Of business to 1879 Y the Close the price
meanwhile having touched 1855. The advance was
mainly due TO the cable report that notwithstanding
the preminares looking TO the preservation OF peace
Doth France and Prussia were rapidly arming and that
dsrust prevailed financial circles accordingly. Added
to this, important cotton failure announced,
that of Watts, Crane Co., New York house with
several branches and understood to have large
of bills Of exchange England outstanding The bulls
we're eager to make the Of these disturbing causes
and they succeeded in alarming of the bears into
covering their contracts. 1t is not probable that the
failure in question will have any further effect
than it has had already, and it is unwise TO
be governed by every sensational despatch rela-
tive to the relations Of France and Prussia
which finds its way through the cable. Coin was in
abundant supply, and loans made at per cent
for carrying and fiat The gross cearngs were $780,
5000 and the gold balances 81. 664, 0ss.
At the ten O'Clock session Of the open board railway
shares were heavy New York Central sold at 9s Erie,
62x 63 Reading, lO31; Michigan Southern, 6sss q;
Cleveland and Ptsburg, IS; Rock Island. 90H a x;
Cleveland and Toledo, ll31 Northwestern, S51 do.
preferred, o. v; Western Union Telegraph, 43z.
At the lrs regular board there pressure to SELL
and Erie the weakest stock on the list New York
Central closed lower than at the time yesterday
Erie 2, Reading r. Michigan Central IL Michigan
Southern IL, Rock Island III, Northwestern l. do pre-
ferred IL, Fort Wayne l, Ohio and Mississippi certif
Gates u, Pacific Mail v, Canton u, Western Union
Telegraph TX. Hudson River x higher, Milwaukee
and ST. Paul preferred l, Cumberland u. Government
securities steady. Coupon fve-twentes of 1852
declined u, and the issue Of 1854 advanced ~ Ten
tories y higher, coupon SKIES Of 1881 u State
stocks we're quiet. Missouri skies Il lower, and
Tennessee skies without alteration.
New York Central sold at s7s 97X; Erie, 621s 62
Michigan Southern, 6sk; Cleveland and Pttsburg 1871
Rock Island, 9o5s 9ok; Northwestern, s51s; do pre-
ferred, 6lh AK; Fort Wayne, 9oK; Milwaukee and
st. Paul pro erred. 56H Boston Water Power, 3lx a
Y; Mariposa preferred, 1873; Western Union Tele-
graph, 43K.
At the half past regular board the market contn-
ued weak especially for Erie. New York Central closed
X lower than At the regular board Erie IN, Reading
n; Michigan Southern q, Rock Island *, Northwest
ern X, do. preferred IN, Fort Wayne Y, Milwaukee
and St. Paul preferred, ri Ohio ana Mississippi certih
Gates Vi Pacific Mail. K Cumberland, u; Western
Union Telegraph, q Atlantic Mail was h,ghe. Gov
eminent securities steady at the morning prices
but dull Missouri State skies were lower Tennessee
nxes, new, u. The yearly interest on the Tennessee
bonds is being paid at the Bank OF the Republic.
AT the hafpast three open board stocks pressed
for SALE and there further sharp decline through
out the list Erie being the weakest OF the railway
shares. New York Central closed at 81 OK; Erie,
cox 6lx; Reading, 1887; Michigan Southern. 67x
y; Cleveland and Pittsburg TAX; Rock Island, soA .
e; Northwestern, 34X q ASK; Western Union Tele-
graph, AK n; Boston Water Power, 31h. Subse-
quenty the market rallied quickly and at quarter to
xix closed with improving tendency n the follow
ing fgures:-New York Central, ok x; Erie o2h a..
n; Reading, 1o3x; Michigan Southern, 6sx a n;
Cleveland and Pitisburg TAX Is; Rock Island. s9K
90; Fort Wayne, o6K II Northwestern, ss1& "; do
preferred, 61H n; Western Union Telegraph, 42x
n; Pacific Mail, l26k q; Boston Water Power, 3lh;
Ohio and Mississippi certificates, 22x *.
The market for mining shares continued unsettled
Al the first board Consolidated Gregory Gold closed l0c
lower than the time yesterday, selling at 80 90
Rocky Mountain sold ct SOC. Corydon, 81; Columbian
Gold and Silver 50 as Peoples Gold and Silver, 50c
Quartz Hill 81 IS $751; A. the second board Consoli-
dated Gregory Gold closed CSC lower than at the hrst
board selling At So rs. Corydon zoe higher, SELL
ing at 81 90 Columbian Gold and Silver &C., selling at
- 30; Quartz Hill 10c., selling at 81 90.
Government securities were quoted thus at the close
OF business 1881, coupon, 1lox X; do $40 cou-
pons, 1882 l07K q do. do, 1864, 1861 y; do. do,
1866, LOG n; do, new Issue, 107K Is; 1o4o cou-
pons esz 100; 3-1Os, first SERIES 1895 III second
series, losxax.
The foreign exchange market was firm but inactive.
Bankers bills on England sixty days quoted at
1929 Y; at three days, l0sx 81 commercial bills
1Osk 109; francs at sixty days, $50 SIS; at three
days Sis a 512x; bills on Berlin " 72k; on
Bremen, 7sS o 7sk; on Frankfort, 4ok Az; on
Amsterdam, 40yI AK; on Hamburg, 361sa "; on
Antwerp, $40 ah15.
American securities were lower In London day, in
sympathy with the advance in gold, namely
april 80. xayA May7.
United States 5-2os.... 7lH tx ~
Erie. ................. 81 - sln
Illinois Central. 76k 7o1 soS
The receipts for customs and the receipts payments
and balances q, the sub-Treasury in this city for tho
expired portion Of the week have been as follows
Rscsipt. Receipt psymsn,s gsIe s,s s,
Nav - $4,000 363l,345 1898 1924, 2ds
The annexed securities sold at auction to-day by