The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-06-26
FINANCIAL AND coMMERcIAL
TUESDAY,, June 25-e ?. N.

Tho mad
mated consolidation embracing old Southern nm, ,he
onahuies are that neither OF the ,sss.d ~
sve ANYTHING to do with the present rise, atba,i,s
hoty Of Wall street origin. Certain brf ars ana MO
fessionai spectators saddled with ,arca amour,
Of The stock prior TO the last elect an ana having
me, disappointment then they have since been
bdng their time. Meanwhile thee xrnnrs Of the road
have been decreasing and responf has parties wen ac
suanted with It's position have ga 1t short' on the
facts OF the case The presenso M the stock watched
this bear movement in IT vndS have now veu,ure5 10
show their hand and ther Is 70 force the bears to
"corner' their contracts alta loss by buying from
Them and al the same time get the street 70 ouy Il
on speculation TOR rise. II we are not mistaken
come Of those who were fominontly associated with
Abe Prairie du Chp,n 'c0 fners' are prime movers In
shs attemps TO gar anze Id Southern activity and
twist the shorts Va the gold old style OF previous years
Whether they Will succeed not, however is an open
question If uiey do, ticy viii all they make
but the CONTEXT is one OF consequence whatever TO
the public. The wpahy Of the street is with the
bulls moro than the bears, bat It matters NOT whcbrde
wins in ID long run.
The dons Affecting the market are more favorable
10 rso than TO fall The crops promise to be abun.
dant, although the rain Of the last eighteen hours
10 mot favorable 10 them, and the apprehensons OF
monetary srngency in consequence OF The preparations
Of tine national banksfor their quarterly
tBR llhoit 10 provo his last is
the immediate OF the upward impulse The stock
narke has just received. Loans made freely the
Stock Exchangeat per cent and there few
TRANSACTIONS i've whore the large while
governments Eve the general rate The sapp OF first
GLASS commercial paper light that the banks
have rely upon stock houses the employment
ther funds and the latter passes at GS per cent,
while the second grade is quoted at g. The bulls in
stocks embolacned by this favorable aspect OF the
parla and hams ag
10 discount demand from the public later in the
pending which they will make as much capital as posi-
bile out Of the existing "shert interest On the Stock
Exchange nevertheless, we hare yet only brokers'
market and the bulls must bear mind the danger
counting chickens before they are hatcned
AT the early of the open board Railway shares
were FIRM at slight advance upon tho closing quotations
Of last evening.
At the first regular board there a larger business
than usual transacted especially Michigan Southern
which rose TO "a. There diminished activity
Express stocks, which lower with the exception OF
che Merchants Union, Adams being tho weakest New
York Central closed y higher than at the time
yesterday, Erie y, Michigan Southern ~, Cleveland
md Pttsburg !. Rock Island IL, Northwestern q, do
preferred Il, Fort wavne u Toledo, Wabash and
Western y, Atlantic Mail y. Merchants Union Express
". Hudson River y lower, Pacific Mail 81, Canton
y, Adams Express 4 Wells Fargo 4 Co IL, United
States Government securities firm, and coupon
nvetwenes Of 1882 1894 and 1865, Of the issue,
advanced %, the issue Of 1865 N and ten-forties r.
Tennessee SKIES Of the issue, declined u.
After the call prices declined sghy, but the market
soon recovered m buoyancy. and the second regular
board il showed further material advance, Michigan
Southern and Eric being the strongest Of the Railway
shares New York Central closed y higher than At the
nrst regular board, Erie ~, Reading y, Michigan
Southern III Cleveland and Pttsburg y, Rock Island X
Northwestern y. do preferred Fort Wayne u, Pacific
Nall y, Western Union Telegraph u Government
securities were moderately active and firm Coupon
SHES Of 1881 showed advance OF nvetwentiss OF
lso2 and 1895 ~ new issue OF 1895 a. tsn-fortes u.
no Express stocks stronger but duh Adams and
Aerchants' Union advanced l. Among the state stocks
Tennessee sixes declined y.
After the call there q sharp decline, Michigan
Southern after selling up 10 75I in the lower hall OF
he Stock Exchange touched 74is. soon afterwards
AsWever, the market reacted, Michigan Southern selling
up TAX, and At quarter 70 six o'clock il closed firm
u he subjoned quotations: York Central 1925.
Ak; Erie, o2S AZ; Reading, 1851 *; Michigan
Southern. TAX e; Illinois Central, 12l Il; Cleve-
land and Pittsburg, 1913 ~; Rock Island s2x y;
Fort Wayne, l0oka "; Northwestern, 3oys a 81; do
preferred eeJs 81; Ohio and Mississippi certificates
AJAX.
The Express stocks attracting considerable atten
son the of each Of these securities much
The old Express stocks have advanced under
demand from parties Supposed TO be familiar with the
business OF the respective companies and who place an
unfavorabe construction upon the call OF per
cent by the Merchants Union Express Company.
The OF the OF sign OF prosperity
and The Merchants Union stock has consequently no
support from the public not interest The closing
quotations were adams, 70 Y; American, 73ds4;
United States, 70 rs; Wells, Fargo Co.. SO a 81;
Merchants Union, IL.
Government securities Arm at the close OF bust
Hex the subjoined quotations :Reeistersd, 1881,
1887 100: coupon 1881, 1l3 4; SO registered,
1so2, l07x y: $40 coupon, 1862, ll0s y; $40
coupon, 1864, 1917 u; $40 COUPON 1895, 1917 AZ;
90 Do do, January aud July l1ox a; 10 40 regis
tered, looS az 1910 coupon, l0oh -; August,
7-so loe ~ Aane, $50, 1901 y; July. 1-3o. loosS
AK; July compounds, 1864 lie y; August d., do,
1lsx lis; October do, do, llSx IFS; December
-, do, III X; May do, isss. iis. -; August
do, DO, ll5x q; September do, ao., IFS V; Oc-
soeer do, DO, ilsh aii5
The gold market has experienced further ADVANCE
ard The bull element s IN the ascendant The opening
price 1857, followed by advance 10 lssx, and
shs closing transactions 13sx. There was a
brisk borrowing demand for CON- and loans were made
without Interest and at La s-s4 per cent per diem
- favor Of the lender. The sros elearngs amounted
- o3l, 97Ao 900 and the gold balances 10 sss2so
TIE foreign exchange markss YES Inactive but steady
- V rssea Bankers bnb o. Easland q, sixty days
quoted At iosJs lioH; u three days. ilos Ak:
commercial bilh, 1oek y Bills on Paris Al sixty
aays ajax ssl24; Ct three days ana ak1o
me receipts for customs and the rscsIpss payments
and balances 81 the subTreasury this city for the
expired portion Of the week have been foIlows:-
Custom HeSs .---sab- Trsansry------
"a. ! xsss'r,s Rs..'ss ry-srs sslaress
June IS. 10000 s,isssI3 72i7,sol i9oil6,oio