The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-27
FINANCIAL AND CONNER GAL.

b"NV'NNsAI ANO OOWWGNOsHGs
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THURSDAY Sept. 9e-eHN
me goh market opened u 1Asx this morning. and
afterwards advanced ASK; but ne Treasury UNDER
stoed 70 have sold larger amount Of coin than usual
and the spsculaor DESTROYS Of getting II cheap
possible forced decline lla but The closing transac
Hons we're ct l4Sk. Cash gold abundant and loans
Wsrs mat At 50 per cent for carrying The grom
elsarngs aggregated eoo ,ooo the gold balascss
a. Ia a2o and the currsny baiaucss 7os 7o4 The
steamer Deutschland took out s67o427 In specie The
market has very nrm underons. aud the steady sales
Of the Treasury tend 10 strengthen IT, inasmuch ~ the
smaller its hoard Of coin IL the more its power
over the premium u diminished aud the more remote
sssms the prospect Of resumption Of specie payments
Just now the foreign buyers IN view Of the
possibilities growing Of the arrest Of Garbad while
the continued agitation Of Western project for pay.
ing on the funded debt legal tender Is by no
means reassurng either foreign home investors
Wall street s In state Of uncertainty, and specu-
aiion on the Stock Exchange Is game Of blind mans
blu Every asks his neighbor how money IT, a. II
money had individuality aud distemper The bulls
and the bears chuckle alternately their triumphs
and the former loudly old Southern aud the
pedestal upon which they have temporarily placed
it, and point their nngers upward significantly.
The bears the hand ask who buy stocks
market and what il? There il only way
FOR Co. in their opinion apdthey point their fingers
downward 10 Indicate the direction. Who North
western common an Investment they query, and
who there TO buy Erie at sxtyf II any philosopher
wishes material for Essay the conflict OF opinion
We refer him to Wall street. A hrm belonging 10 the
open board failed yesterday the bear side, but with
this exception the violent fluctuations have not
thus far proved fatal any OF the established stock
celebrity which has surprised the losers for nowhere In
the world and money sooper parted
sometimes than on the Stock Exchange Those who
have other Of living will therefore. do well to
keep away from il; and many OF those who have not
should set out voyage Of discovery towards that
end
Money was In more active demand than yesterday,
and some Of the bangs the Park Bank In particular
called in large amount Of their loans which resulted
In considerable sales OF speculative sssurics Between
Twelve aud past the market very Close but
subsequently II became easier. although tho rate
strictly seven per cent even government securities.
There may transactions between some OF the
dealers 10 government securities six, II these
were entirely exceptional and owing private under
standing that whatever the market rate may be they
are never TO charge each other than sx There
= moderate supply OF commercial paper. only the
best grade the banks and this
NJ per osns although among tho brokers
submis In some distances 70 q per cent discoun..
Tho drain westward Is going forward steadily.
and there Ii probability Of any material
change for the better for soma time TO
como. although somewhat increased supply Of loana-
bio funds 10 looked forward after quarterly
furns OF the national banks made up II mot i'm
possible however. that may witness active specu
lasivs movement the Stock Exchange notwitbsand-
sng certain degree Of monetary activity but there
positive strngency decline the Stock Exchange will
be the natural consequences. Tho Treasury dis
posed 10 increase rather than reduce s balance by its
gold sales, we'll BY lowering the price which Il 10
willing to buy seven-thrty notes from lo7 TO 1864.
It u obvious however, that the Treasury balance should
be kept low possible while the crop movement rs
progressing for the country needs al the currency there
is In circulation and the Secretary fails TO perform his
duty In this particular he ncu grave suspicious OF
questionable desgns sFurhsrmore, the Sub Treasury
balance should be stated In coin and currency sepa-
ratey, and the Of should gwen
stead Of present. allowing clerical
Ssrs with the truth. that tho often
/. deceptive.
The stock market was strong ss the commencement
Of and prices higher than the Close last
evening Al the early session Of opsn board thsrs
was . good demand for tho leading stocks, and New
York Central sold 1t l0sX losx; Ere, o2x o3K;
Cleveland and Pittsburg Sly Michigan Southern, SsK
q SAY and Milwaukee and 81. Paul preferred, o. s64.
Az the FIRST regular board the market arm
at the outss, but became weak as the call pro-
crossed under q pressure TO realize a the adj
vsncs, Influenced 70 extent by the indi-
cations or increased monetary activity. Michigan
Southern steady at S2x s3K. and without special
ncvity while generally large and
well distributed New York Central closed 4 higher
than At the time yesterday, Ere TX, Hudson
River 2 Reading u, Michigan Southern Q. Cleveland
and Pittsburg 21S Rock Island III do. preferred Il,
Fort Wayne x, Milwaukee and st. Paul preferred u,
Ohio and Mississippi certificates y, Pacific III MARI
gposa preferred r. Western Union Telegraph y. Gov
eminent securities dull aud rather heavy. Coupon
nvsiwenties Of 1852 aud 1867 declined u, tsa-fcrtes
end sseen-thirties Of the second K Missouri
skies advanced IL. and .Tenpessec skies, new, \.
At the open board At O'Clock the market
weak under Increased pressure New York Gen.
trai sold at 1919. Ere el,s Michigan Southern SIX
and Northwestern 40X. Al the second regular board
Drices experienced further decline New York Central
rlossd u lower than the first regular board Enc a.
Michigan Southern 1X. Cleveland ami Patsburg Ia
Rock Island u. Narth~estsrn y, DO preferred y, Fort
Wayne Y, Milwaukee aud e. Paul " do. preferred ~
Pacific Mail Ia, Atlantic Mail u, Western Union Tee
graph r. Government securities we're inactive and
rather heavy Coupon nve-iwsnlies Of 1861 aud 1865
declined u, Missouri skies declined y, and Tennessee
SKIES. nsw, a.
Al the hsf-psss three open board the market
6msr and during tue rest OF the afternoon gradually
recovered, Ere settling up to o2 bus the advance
fully sustained and ct six O'Clock The sol owing quo
tasions current:-Nsw York Central 1918. l07,s;
Erie 6iK elH; Reading, 1o1h . 10lk; Michigan
Southern, sax s2k; Cleveland and Ptsburs, 10 so;
Rock Island, lo2 io2x; Fort Wayne, e5x 6sx;
Northwestern, Al ak; do preferred, s5k 6sk; Pa
Cinc Mssi, 100 13ss; Ohio and Mississippi certdcaies
oo,s 26tS; Western Union Telegraph, seI q 3sx.-
The following shows the gross earnings OF OF the
principal railroads In the first eight months Of 1895 and
1851 respectively by which will DO seen that they
lower average In the preseut than the former
year.