The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-28


count OF the Interest payment win be diminished
The closing quotation saturday wa A1S 14l%,
and the daily range Of tho market during the week
was as subjoined:-
Hisnes. Lc,c.e,
honday........... ..-......-.... ~ lt39s
TUESDAY ,*...-.......-....-..... 1852 ~
Wednesday ....--...............-.. ia,ss l..5s
Thursday Observation-Disclosures. I4i's I-2s
Friday 1875 I4in
Saturday ........--.......... l4zA 4l>s
Government securities were hammered by the brars
in the early part the week, but with the pa dc
pect Of AFFAIRS Europe and partial recovery from the
previous depression in nve-twenes In London and
Frankfort, the market became nrm no,~iths,and.
ing the declining tendency OF gold. and
Saturday took sharp upward turn and closed strong
and excited the demand being chiefly for the Gvewen-
OF 1862 and 1865, for which there foreign market
and In which the sshort, interest is particularly
heavy Sales OF the former reported late In
the afternoon have bee, made I13N and OF the
latter ll0I. and the scarcity OF the bonds Of both
these Issues excited considerable apprehension among
1 the bars The demand for the 1868 IS increasing
anticipation OF speedy equalization Of the quotations
for the bonds OF botn issues which are identical In
every respect except the date the at er Issue ha ing
three years longer rum which Is positive advana
The undue artificial depression to which all classes Of
stocks have been subjected for the last few
weeks has naturally resulted in the present re,cton,
with the progress OF which the Garibald
from Europe will not be likely TO interfere;
for there Is nothing in the present aspect Of
foreign AFFAIRS excite distrust in connection with
United States securities and these still the cheapest
10 Wall street. The following tho quo
tations At three o'clock yesterday -Reglstered 1881,
1ll1 l1o; coupon, 1881, ll25< 1l2k; 6oos, regis.
tered, 1862 ll4k I14H; 620s coupon 1862, l13h .
ll3H; 5-20s coupon 1864. 1905 1922 2os coupon,
1865 ll0x Il0ls; do do, January and July, l07I
4 1O1, IN An,.
registered 10o'E I0o,: 104os coupon. loo1s loo%;
June, 1905 1861 1861; July 1905. 1861 1861;
Deccnbr compounds 1854, l1sA ll9: May do, 1885.
117ls NIX; August do. do, 1867 1861; Sep en-.
Der do do 1lsk l16; October do do, ll5H 115A.
The conversions Of seven-thry notes into nvetwentes
during the week amounted TO 1892, 600, Of which
I 81, III $50 were made Saturday.
The markc, for foreign exchange experienced . par
taI recovery from tho depression which prevailed
towards the clase or the previous week. the decline in
gold having quickened the dcmsnd for os; but such is
the depressed condition OF trade especially IN the de-
parment OF dry goods. that importers disposed to
1efer remitianccs possible and the CON-
rercal indebtedness Of the country p Europe is In
scasng at a more rapid rate than Usual, while tho
aggregate Is already very larIc
The failure OF Charles Bayard, stockbr0kcr OF
Philadelphia for largcasum vas announced yesterday,
AMI this had probably much To do with depression
income OF the fsncics which PREVAILED in that city
the previous day. and somewhat exaggerated account
telegraphed to this city late the after
noon.
The money market was easy throughout the wock to
ss.ek exchange per cent with trans
Saturday at six per cent on mixed coaieras.
viii the amount Offering at this rate on governments
was largely of tho demand me indications
the ssc together with the statement Of the associated
bank $, favorable TO an easier condition OF
monetary affairs this week. The latter will show in.
creaseof S206 Ill in legal tender acd decrease
OF s7S7e3 IN ioans ST. 157.s46 in specie, sos al in
circulation and s3z4 247 in deposits In the discount
line tnerc but little abatement OF the stringcncy
shich has boon felt for two months past and which
OF great embarrassment 20 the mercantile
community. Depositors complaining OF the conduct
OF their pective banks in rcfusng the accommodation
they haws right expect ana at the time loanng
their funds 10 stock houses call The banks however
IN view OF their constrained resources decline dis
counting unless to very limited extent, in favor OF
their best customers and prime paper received in this
way they take a per cent while outside the banks
the rate ss eight 10 twelve per cent With con-
siderable isculty negotiating IT, II is to be hoped
that the bs ks will make special enor,s that money
IL easy ON esi 70 extend their discount line mot In
the form or the discounts Of produce paper for the
Western ban t,s much o. among the merchants end
business and inspiring dsrusi all branches OF trade
The railway share market throughout unss tiled
and one or ts worst features was the decline Of the
sound dividend payiog securities while SOME compare
tively worthless stocks renamed nrm No surer sign
Of the artificial saracter OF the support IL receiving
could DO found; tNt some OF the leading bulls show
degree OF pluck steady endurance which deserv
ing OF success Ashe time the street shows very
little pluck on the sar SIDE being fearful Of twist
from bull clique and very prudently So for the
latter have still the power 10 make the most Of the
s.short Interest. The natural tendency OF the market
is downward however for the prices Of the nondivdend
paying stocks ch above their present value,
although progressively they may DO worth considerably
more and there Is outside support TO H. while even
the street itself more besrsh than bulsh. Tempo
rariiy notwithstanding all this prices may advance in
consequence OF the unexpected money! but II is
very dangerous market 10 bold stocks on, and at the
same time prudent man would sell them 'shors;"
and therefore, repeat warning 10 those who are
out Of Wall street TO remain out OF IT, The market
closed dull and barely steady Saturday at the SUBJ
ioined quotations: New York Central. 1l2x 112,s;
Erie 72< 49, Hudson RIVER, 1zo 12ets; Reading
os o6x; Michigan southern, Sssf 70; Cleveland and
sly ASK; Rock Island, s5h BON; Fort
Wayne, 81; Northwestern, 47Iy do. preferred, CO.'S
60; Pacific MAIL 146 1sos; Western Union Iessfhpn,
34tl; Ohio and Mississippi certificates, 25A . 2ok.
The subjoined salcuens shows the hia hest prices