The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-07-13
FINANCIAL AND COMMERCIAL.
FRIDAY. July l2--eP. Y


FRIDAY, July l2-oP. n.
The railway share market opened this morning at
slight advance upon the closing prices Of last evening
but in the afternoon became excited and depressed by
unfounded rumors, Of which the bears made the most
by vigorously hammering all the leading speculative
stocka Towards the Close however, II showed an i'm
proving tendency, and the indications that the
action will be only temporary although Of the
dividend paying shares already selling above their
value Il usually happens, however, that the more
worthless stock s the higher rises in times Of spscu
Iativs excitement
Money continues In abundant supply ut per cont 70
the Stock Exchange with exceptional transactions
and per cont the lower rate being mostly confined
balances LEFT with the leading dealers In government
securitieA The demand for stock loans ID brisk but
there increase in the supply Of commercial paper
offering for discount The best grade is taken at OK
Per cent but names are closely scrutinzed, owing to
the failures in the dry goods trade and fears
that other houses In . shaky condition We learn
thai committee Of twelve Of the creditors Of Geo. A.
wickes Co made report to-day, in which they re-
commended the acceptance Of sixty on the dollar
10 full Of ell their claims which dividend the estate
will. II ID stated, yield in liquidation.
Chicago journal Of Tuesday remarks:-
Business In mercantile circles begins to show signs OF
recuperation and there moro activity n monetary az
fairs inc demand for discounts quite active to-
aay and some quarters the market reported to
be working closer Paper is closely scruiinizsd. and
tnero ID considerable rejected.
At the early session OF the open board the railway
share market slightly higher than the close Of
business last evening, Erie selling up TO Tx. At tho
rs regular board there less speculative excitement
than usual OF late but the market steady. except
for Cleveland and Ptsbug ard Quicksilver. which
weak. New York Central closed higher than at the
same time yesterday Northwestern preferred e, At
<lantc Nail TX. Erie q lower. Michigan Southern
y, Cleveland and PIttsburg az Rock Island 4, Fort
Wayne x, Ohio and Mississippi certificates u, Pacific
Mail ~ Quicksilver "a. Cumberland X, Marposa pre-
ferred y, Western Union Telegraph Il. Government
securities showed eactionay tendency from tho recent
rapid advance Coupon dvetwenties OF 1864 and 1865
declined ~ issue u. seven-thirty OF the
series y, second series q. Coupon skies Of 1881 I'D
vanccd u. The State stocks active and strong.
North Carolina skies advanced g. Missouri skies tx,
Tennessee axes, new, Il.
At tho open board at one O'Clock the market was
slighuy lower and without animation At The second
regular board there further general decline except
In Cleveland and Pit,sburg New York Central closed
x owcr than at the first regular board Erie r. Reading
~, Michigan Southern Cleveland aud Toledo 1, Rock
Island \, Northwestern do preferred l. Fort Wayne
u Ohio and Mississippi certificates u, Pacific Mail u,
Atlantic Mail " Quicksilver ~ Mar,posA preferred 4,
Western Union Telegraph ~. Cleveland and Pittsburg
was ~ higher Government securities rather
heavy Coupon ive-twenties Of 1854 declined a. issue
of 1855 ten-ortes u, tbirties OF the second
series * Among the State stocks Tennessee SKIES ad
vanced 4.
AT the hapast three open board the course OF prices
was still downward. This was manly owing to abb
surd and malicious rumor the effect that OF the
up national banks had failed In consequence Of its
losses by certain dry goods houses. As the bank in
question known possess ample to meet its
liabilities demand, the rumor may DO put down an
invention OF tho bears on the Stock Exchange. Late
In the asrneon confidence partially restored and
the mares became fr Al six O'Clock the following
quotations were ourent:-New York Central, 1861 u;
Erie, 7oX X; Reading, 1O3X lO4,S; Michigan South
srn, Tx q; Cleveland and Pittsburg, 81 III Rock
Island, eta u; Fort Wayne, 10ox Y; Northwestern,
44x IS; do preferred esK u; Ohio and Mississippi
certificates 28,s; Canton, Al x; Cumberland. 4ox
Y; Mariposa preferred, % 23x.
Two failures on the side OF the market
ported during the day.
Government securities were feverish and quoted
thus 1t the close of business 1884, 110k
u; coupon, 1881, 1lo1S y; t-2os registered 1891,
100 Il; do coupon, 1862, 1I1x u; do 1854. 1904
~; do. 1896. loo,f y; do 1885, January and July,
IosK o X; DO 1857, losx y; lo4o's registered,
lo2 y; do, coupon. lo2x y; August. 7-So's
los Y; June, 1905, lo7k los; July, 1905. lo7X
. 1oa Oompounds-lso4, July. lloS< y; August,
l1sX IlsX; October, ll7,S 1ls,<; December. 117K
q n; May, 1885. 1l6K X; August ll6k X;
September, lis . u; October. ll4k ~.
The Rod market developed Increased nrmness the
range az the day having been from 1ao 1894 with
the closiag transactions q l3oh. Loans were made
without interest and at TO per cent for carrying
The eross csaranoes amounted 70 $24 000 and ths
gold salasces o3ooso. The disbursements at the
ub-rvsasury in payment Of tho coin interest ths
~ Iuiv hav fhuaf far
gated g. ooo but although the Treasury Department
in mskias up ns annual preparatory 70 the
secresary's report the whole Of the Jaiy In
ssrsss amounting to betweea eighteen and ninetssa
miIsens 70 have been paid, considerable portion Of
has NOT yet called for The interest In question
on the new issue Of avstwsnsiss Of 1885, the sxes Of
lssl and various bonds issued prior 70 tho late
American silver quoted At . per csas below the
price Of gold, and Mexican dollars are In demand ct
7os y IN gold.
me exports Of gold and silver coin and bullion from
vis point 70 foreign ports during the fiscal year which
ended on the soh ult aggregated Sal, ea2 against
ss7 $40 ss4 in 1866 and sso5 $50 $50 in 1905. The
foreign imports Of specie at the port during the last is
cal year amounted 70 0sl $780, against 81 GA In
1865 and g. $780, 43l In 1ss4-5 The receipts for GUS
toms duties the last fiscal a the port aggregated
sIlo 200 OF which $50 ess received In tho
nst six months and ST. 72s 1855 in June. In the pro-
vous fiscal year the receipts $13 SIS and In
1865 $6l, l0o,47o.
The foreign exchange market Is extremely arm under
the unusual scarcity Of bills and moderate demand from
bankers holding foreign balances Some Of the leading
drawers asked 1lox for sterling a. SIXTY daya BAnks
bills England, at sixy days. quoted - the Close
11oH. and three days 1loK *; commercial bls 1921
Ak; bills on Paris sixty days. 6l3x AJAX ias three
days, six a61a othsr continental bills rated
thus
Banker. Commercial
On Berlin. ...........12k TAX uKs72
scu Bremen. ..........75K 70 7Sx 7sx
90 Frankfort. AJAX cog 40T
On Amsterdam. ....n AJAX l0L Al
On Hamburs.........sek a8ss 90 seN