The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-06-08
FINANCIAL AND COMMERCIAL

# FINANCIAL AND COMMERCIAL.
FRIDAE, June 7-6P. NJ
The railway share market was the whole strong to-
day. although speculation almost entirely confined
the themselves and professional operators
Hence those who look for steady rise are liable 10 dis
appointment and there special inducement at pre-
sent for the outside public TO join hands with the bulls
while without outside support progressive improvement
isimprobabe II not impossible The Gold Room IL much
free from outside speculative influences the Stock
Exchange and the Of the premium exctes just
public interest whatever In this connection 1t may
be mentioned that the receipts of gold from California
at the port in the nrst Eve months in the year amounted
70 So $780, and from other ports TO 055 max
ing total between the LIST Of January and the end OF
May OF $ll, 56l,37l. The exports during tho same
period amounted to S17,s7l 800, showing preponder
ance the imports between January and May 81 OF
So 0l9 II is understood that the export tomorrow
will exceed million and half The balance In the
Sub-Treasury this afternoon Is not conducive to
favorable bank statement for the The amount
10 8l35 43 which shows that is for the time being
drawing in instead OF dsbursng currency But the
parties who manipulating the railway share market
10 be making capital out Of this circumstance by
surprising the bears and causing them to corner their
sshorts at disadvantage The dealers 10 government
securities are apparently large holders OF i've
are anxious to see advance and the suspension
OF sales Of the bonds by the Treasury makes them san
quine that their expectations will be realized and that
the Secretary of the Treasury will prove their most
oblging friend The manner IN which the exchange OF
Ave-tweuties for seven.thires has been conducted
throughout is open to suspicious OF favoritism II not
OF corruption and millions OF money have been made
by those who kept well informed of the proceed
ngs Of the Treasury in regard to Its funding operations
That favorsm does exist in the Department is hardly
open TO question: and If all that exists to transpre
the revelations would doubtless be scandaous than
is generally supposed.
The money market is without material change, the
banks being still able employ their funds at per
cent. Outside Of Wall street. however, money is in
some instances obtained six per cent by first class
borrowers government securities The demand from
the Stock Exchange is not heavy, as there Is good
borrowing demand for most of the leading railway
shares In the discount line the best grade Of CONNER
cial paper continues be quoted per cent but
inferior grades out OF favor at the BANKS
y At the first regular board railway shares strong
New York Central closed ~ higher than at the same
time yesterday, Erie e, Hudson 4, Reading IL, Mch
gan Southern u, Cleveland and Toledo x. Rock Island
X, Northwestern Y, do preferred u. Fort Wayne ",
Pacific Mail 5H, Marposa preferred ~, Western Union
Telegraph y. Government securities were dull, and
coupon vetwenties of the issue Of 1866 showed
advance Of u, while the Of 1862 declined u North
Carolina SKIES, new advanced l.
Al the half-past two regular board the market was
hrm at further advance, but the extreme advance in
Pacific Mail sustained. Hudson River however,
sold At 109K-a very high price Tor a stock which has
Just been 'wateredn to the extent Of hundred per
cent The principal holders OF the stock the
gers Of the road and they do what they like with
but advise the pubic against buying at any such
ixs,~s~ t.
higher than at the first regular board, Erie ~ Hud
son 4. Cleveland and Toledo "a, Rock Island H. North
western X, do. preferred y, Fort Wayne y, Ohio and
Mississippi certificates u, Atlantic Mail Y, Boston
Water Power IL, Mariposa preferred Y. Reading was
Il lower Pacific Mail TX. Government securities were
neglected. Missouri, SKIES advanced r.
During the rest OF the afternoon the market fairly
active and at quarter to six the following quotations
were current:-New York Central, l0oK IS; Erie,
65x X; Reading, lO5K n: Michigan Southern,
oSK Il; Cleveland and Pittsburg. 76& u; Rock
Island, ssx a Y; Fort Wayne, ssA 90; Northwest
ern, SAX . u; do preferred, 5sX u; Pacific Mail,
1857 l39; Ohio and Mississippi certificates, 25ak.
The result Of the annual meeting At Chicago yesterday
OF the stockholders OF the Chicago and Northwestern
Railway Company was in accordance with the general
expectation. The old Board Of Directors
elected for the ensuing by large majority, esti
mated at four to The ofcia figures have not yet
been published, however.
Government securities were steady at the close OF
business the following quotaons:lSSl, coupon liz
VI $40 coupon, 1862 1o91< Is; $50 coupon, 1884,
1861 log; $50 coupon, 1855, 1905 "; $40 coupon
1885, new issue, 1851 X; 1o4o coupon, 9sh ri
$40 notes. first series 1861 II do, second series,
105x y; do., third series, 1861 az.
j. The gold market firm but dull The opening price
was l36x and after declining TO 1851 1t advanced to
1854 the closing quotation. Loans were made '1a !"
or without interest, and at per cent for carrying
Tho gross cearngs amounted 70 $50 1913 0O0 and the
gold balances TO $1,25944
Tho foreign exchange market was firm The supply
Of bills Is still very limited and the demand good.
Bankers bills England sixty days were quoted at
ITO u; at three days. 1lon "; commercial bills,
10sx II bills Paris at sixty days 5ll7s SIS, at
shrse days, $40 5.l21s Other continental bills were
rated thus
Bankers Commercial.
On Berlin. ............ 72ss q TN ~ 724
On Bremen ........... 1914 a 1914 1874 1914
On Frankfort. Ala 4lls Al AK