The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-05-22
FINANCIAL AND COMMERCIAL.
TUESDAY. Nav .I-6P. NJ

FzDlic RAILWAY snares are neglected by all but the
professional specustors, and the long expected rise
seems - mr. Oh as ever Prices however show great
stsadness, considering the prevailing siagnaton and it
il probable that Whenever there is q revival OF activity
there will BE- recovery from the depression Of the last
six months The monetary conditions affecting the stock
market are favorable to improvement and the earnings
OF the leading railways are. with few exceptions,
larger than they wore At this time last year.
The supply Of money available for on the stock
Exchange y in excess Of the demand, and loans are
made freely Al six per cont mixed colIAols and I'VE
on governments while nst class commercial paper OF
which the supply very limited. 10 in request
per cent Tho Treasury il purchasing seven-thirty
notes to onset it, recent sales OF nve-wenty bonds
and there no probability Of the hoard of currency in
its vaults disturbing the OF monetary affairs in
the least although about six millions Of compound in
terest notes mature in June and millions in July and
interest falls duo each OF these months seven thirty
notes. the Treasury will have to provide for the
maturity of hundred millions Of the compound notes
during the year. but Afy millions OF the amount will be
simply exchanged BY the banks for the three per
cont certificates which will be equally available IS
portion Of their legal tender reserve The Treasury is
nevertheless not likely escape embarrassment in
meeting It's current expenditures and maturing oblsa-
lions owing to the decline in its revenue receipts but
these win rather contribute TO monetary than the
contrary
At the West money is in good demand, and con-
siderable drain from the local centres to the interior
looked forward to for the purpose Of moving tho wool
CROP In the regular jobbng trade there moderate
business reported but is limited to supplying imme-
oate necessities and merchants holding very light
stocks OF goods 1t is expected that this dulness will
continue until the probable character OF the crops be-
comes moro certainly ascertaned. Meanwhile it is
satisfactory TO know that they afford every indication Of
being unusually abundant.s
Al the ten O'Clock open board railway shares
were steady. New York Central sold at 9s1S Il;
Erie 62ss; Hudson, 1929; Reading, 1o3I: Michi-
gar .'uthern, 6S%; Cleveland and Pittsburg, 74l4;
Roce Island 50; Northwestern, 3tss; DO preferred,
sos; Fort Wayne, ss14; Western Union Telegraph,
42ss r.
Al the rst regular board there material change
in prices. and the volume of business was light New
York Central closed higher than the same time yes
tsrday Erie 70, Reading u, Michigan Southern x,
Rock Island e, Northwestern ~ do preferred y, Mil
wankee and st. Paul preferred y, Toledo. Wabash and
Western 4 Ohio and Mississippi Certificates Y. Pacific
Mail a. Quicksilver was u lower Boston Water Power
% Government securities showed increased activity
aud coupon hvetwenties of 1862 advanced Il ISSUE OF
1865 u seven-thrty notes OF the second series. y.
Missouri State skies lower; Tennessee SKIES Il
North Carolina SKIES advanced n Tennessee sizes
new, \.
At the O'Clock open board prices were fraction
lower. New York Central sold at 9s%; Erie, 62,<
Recalling. 1885 Michigan Southern, 677s; Cleveland
and Pttsburg, 73X; Rock Island, $50 North western
S41s, DO preferred, SEX; Western Union Telegraph,
42s4 a 43.
At the half-pAst two regular board tho market was
steady in tone but dull. New York Central closed y
lower than at the first regular board Erie u Michigan
Southern 4, Rock Island Y, Northwestern r. Atlantic
Mail y Boston Water Power T. Reading = higher.
Northwestern preferred y, Toledo. Wabash aud Western
u, Milwaukee and 81. Paul preferred y, Ohio and
Mississippi Certificates u, Canton y. Government
securities were quiet Coupon nve.tveniies Of 1852
advanced u, and the issue Of 1864 was steady
At the hapast three open board prices fraction
higher in some instances. New York Central sold at
osl Ere 62x; Reading, 1O4 Michigan Southern 6S,l
Cleveland and Pttsburg 73s< Rock Islaud ss7 North
western, 3Ak do. preferred sos Western Union Tele-
graph Az; Pacific MAIL 1870. During the remainder Of
the afternoon the market quiet and quarter
six tho following quotations t:-New York
Central ss1l *; Erie, o2k q; Reading, 1o4,s y;
Michigan Southern, esH u; Cleveland aud Plttsburg,
ia 4; Rock Island, ssx 50; Fort Wayne. eek q /;
Northwestern, 34,< 81 do. preferred 6ex X; West
Union Telegraph, AN -; Pacific Mail, ISL Il;
ohio ana Mississippi Certificates. PAX as
Government securities were steady At the close Of
business at the following quoiatons:--lss1 coupon,
I1ik 81 nvs-twenty coupon 1882 l0ok y; do 1894,
1861 z; do 1885, looH y; do. new issue, 1os ";
tenforsy coupon, ook Is; seven-thirty notes, first
SERIES Io6,s x; seven-thrty notes, second series,
1861 AZ
The gold market opened dull at 1917 and declined to
1877 early the afternoon IL became excited under
report that Frazer Trenholm Co., OF Charleston and
Liverpool had failed In consequenceof heavy cotton
operations, and an advance TO 1s7x followed During
Of the afternoon the market remained steady
1871 1874 and the closing transactions at 137k.
is expected that If the reported failure In question
proves be fact . large amount Of cotton bills
England drawn by and upon tho nrm will be returned
dhonorcd and hence the influence exertsd upon the
gold premium. Loans made without interest and
at as per cent for carrying. The gross cearngs
amounted to 900 and the gold balances TO
$l.7sa0Oo.
Tho foreign exchange market is very arm and bills
continue In brisk demand. Bankers bills England
sixty days quoted IT the close at 1927 no;
1t thrcs days. Ito lloK; commercial bills, 1osk a
1o9h francs sixty days Shy a515 at three days,
6l2ss $40; bills on Berlin, TAX TAX ON Bremen,
7e4 so: on Frankfort. Al az on Amsterdam, Al q
AZ on Hamburg, 36A "; on Antwerp. 51sIa
5i2,i
Consos and American securities London were quoted
thus to-day nd on revfoug 6afaq.--