The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-06-07
The contraction OF legal tenders Offset by imitation
through national bank notes, the total Of which out

The Inoaey market continues moderately easy at seven
Per cent, but there very few transactions, on
government securities al six Tho discount line is In.
activo and the best grade o. commercial paper quoted
at per cent The policy Of the Treasury in hoard
ing S7eGS 64 in currency the amount in It's vaults on
The 1st inst is sharply criticised as being excessive
allowing for all the demands upon the Department for
che forthcoming payment Of interest on seven thirty
notes and the maturity Of compound interest notes.
Tho last statement OF the public debt shows that the
Treasury held $3 COG currency the 1st OF
June than tho 1st OF May. The question is
asked why the Department sold SCI, 4o4,450 OF
nve-twcnty bonds in May, and only dsbursed
t37 470,675 IN Me purchase Of seven-thrty notes.
and then suddenly announced that the sales OF
6vs-twenty bonds we're suspended temporarily.
Why were tho purchases OF 1ve-twenties not made
gradually, q prevent the balance in tho
Treasury Increasing lagey2 Tho abrupt s!oppage OF
farther purchases showed that large amount had
been purchased within given time, and nothing better
than this stoppags could have been desired by those
dealers In governments had already bought all they
desired 70 carry. We hardly suppose that Mr.
NcCuiloch intended to play into the hands Of specu-
htors but he has virtually done so this in pre-
vious instances.
At tho arst regular board railway shares DUH
New York Central closed q higher than at tho same
time yesterday, Hudson River u, Michigan Southern u,
Rock Island 4, Fort Wayne y, Western Union TeIe-
graph u. Cleveland and Toledo lower, Northwest
srn 4, Pacific Mail r. Boston Water Power ~. Gov
eminent securities steady. Coupon fve-twcutes
1902 declined ~ who tho issue OF 1865 advanced
g Tennessee sizes Of the new issue werc \ higher.
A. the opcn board At one O'Clock the market was
steady. New York Central sold Al ssI; Erie, 5ox
Hudson River 1osx "; Reading, 1o4sS; Illinois Gen.
Sss IlsX Cleveland and Ptsburg, 7s% IS; Michigan
Southern, o7H es; Northwestern 33zS do preferred,
-; Fort Wayne. OK; Atlantic Mail, loiN; Western
Union Telegraph, 431T aA
Al tho half past two regular board the market was
stronger New York Central closed * higher than At
che nrst regular board Hudson River "a. Reading y,
Nichig nm Southern n, Northwestern Y, do preferred
r. Fort Wayne y. Chicago and Alton l, Pacific Mail u,
Western Union telegraph. Government securities wero
ssady but dull SKIES Of tho new issue wero
= lower.
During the rest Of the aternoonthc market was mod
sraely active and quarter to six O'Clock the follow
iug quotations current-New York Central, os's
y; Erie. 80 u; Reading. 1o5K "; Michigan South
srn, 6sk u; Cleveland and Pittsburg. 75 70; Rock
Island, s8ha X; Fort Wayne, os AZ; Northwestern,
s4sl Y; do preferred, 5s;1 X; Pacific Mail. 1871 Il
Ohio and Mississippi certificates, rs AZ.
Government securities nrm at the close Of
0asinsss the subjoned quotations :-lSsi, coupon
11lX q 112K; $40 coupon, 1852, lo9A "a; 5-ot
coupon, 1864 1867 loo; $40 coupon 1853, 1905 Il
go coupon 1865, issue, 1857 a u; fo4o coupon
cox n; $40 notes. first series, LOG q; do, second
series, 1853 a e: do. third series, lo5xa5s
The god marko, remarkably steady, the Lowest
proo Of the day having becn 13d ys, and the highest
laex with the closing transactions at the latter rate
Loans were made at per cent for carrying. The
gross cleariugs amounted to 500 s co., and the gold
balances TO 81, 364 900.
Tho foreign exchange market was inactive but nrm IL
tome Bankers bills on England at sixty days were
quoted at lilo 11o1 at three days, 1l03s "; com
mrrcla bills, l0ass a; bills Paris al sixty days
613x at.I2H; at three days, SIX 5lo Other bii
wore rated thus