The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-28
FINANCIAL AND CONNER clAL.
TUESDAY, August 27-o p. N.

TUESDAY August 27-oP n.
There merely brokers market TO chronicle on the
stock Exchange and the daily fluctuations are unn-
porant The duness is becoming mon onous but the
holders O, stocks impotence to relieve them.
ssves OF their load believing that time, which works
wonders will ultimately bring about change for ,heir
benefit They have difficulty In carrying their stocks
money being practically easy has been at any
tine This summer and they the satisfaction OF
seeing Tho earnings OF the railways which their
mites represent rapidly increasing, and this augmena
ton is likely TO become more and more marked from
week 10 week drring the remainder OF ths year, and
through the greater part OF The ensuing spring Such
arge earnings, they reasonably maintain, canno, be
without effect upon prices, because they win add pro-
pcruonSley TO the real value OF tho stocks brisk
speculation for rise BASED upon this altered state OF
things viii doubtless be experienced before the year
Is; but prices viii just certainly be knocked down
again FOR 10 the haoIt Wall street rush from
extreme another. regardless of real vsluea VII
make the appreciation Of values q pretex, for oull
speculation but when the opportunity srrves Tor bear
H,ovoment 10 win have nothing further say on the
sabect; prices iu opinion, win then simply 10 too
high II IS noticeable thst less heaFish tc3na pre-
walls than apparent wees ago, and that the
general tendency OF speculation fs7ors rise.
Owing 10 tho duiness OF business IN Nail street
money is sgsin something o, drug. Tho leading
dealers 10 government securities have money than
they can usa offered 70 three per by private
lsnders snd tbs banks willing 70 lend on this class
Of eosterrll at four per cent, and railway and mis-
eslaneous socks at I've. The drain westward 10 very
lng just now aud this together with the fact that tn
Sab-freasury ia dsbursing In redemption of August
COMPOUND Interest notes presented but no. paid last
week, is likely 70 materially Influence the oank
statement There is . reduced supply OF commercial
paper Offering for discount, and the bes. grade
per There is no
present indication that money VIII be otherwise than
easy FOR month or six weeks at least 70 come. and
after thas time ths supply is likely to be equal 10 tho de-
nlDd at below the legal rate Of interest II money
commanded a per cont Wall street foreign capital
would be sont here In large amounts II being difficult
ood employment for it at and . half and per
asut In England and nearly all the Continent also
Moreover the Eastern cities still guttei with money
Boston journal OF yesterday says in relation 10 local
monetary sTair.:-"rbe supply OF idle currency fire.
suen,y alluded TO OF late has been absorbed either
n legitimate business or speculation and until is alb
scrbed II will DO available for IN this market
At the early session OF the open board railway
were Grm at fractional advance upon the closing qio-
ta,ions OF last evening Erie selling at 70lS ard New
York Central at 1855 AZ the st regu ar board ths
market was stead , aud there light but well dis
tyibuei business transacted. On the second call how.
ever, showed dropping tendency Eric closed a
higher than AZ tho time yesterday, Reading "a
Michigan Southern "a Cleveland and Pitsburg =, Rock
Island =, North western =, do preferred q, Pacific
Mail ~ Canton ~ Cleveland and Toledo was "a lower
Western Union rels graph -.
Government securities dull and rather heavy
coupon nvetwenties Of 1864 ana tho OF 1865
soowsi decline o: < Tennessee SKIES new, declined
y, Tho express shares quiet. Adams sold at 10
ss3I American at "a 741 aad United States at 70 II
At the O'Clock open board there o very light
volume OF business transacted and prices were lower.
A the second regular board there no improve.
ment New York Central closed 4 lower than a, the
ars. regular board Erie "a. Michigan Southern Y, Rock
Island y Northwestern z, do. preferred q, Quick.
western Union Telegraph =.
securities steady but Inactive.
shares continued quiet. Adams sold at 1874
nericsn at Is a = ard Wells Fargo Of 86.
hall past thros open board tho market was
material change New York Central sold at
Erie oO2+ Reading loA%, Rock Island 1929.
'esern preferred 691s During the OF the
ON the market remained steady, but dull and at
ock the following quotations current New
central, 10il 2; rrio, eoK "a; Reading,
1os1< u; i:icnlgsn Southern, sos 81; Cleveland
end Pttsb1fs, e21l s3G; Rock Island, 1923 1903;
Northwestern, 49,. al do preferred. es2S 10;
For, Wayne, loi,I; Pacific Mail, 14oti; Ohio and Mis-
ssspp certificates, 2d}S 25)I; Western Union role-
graph, 4S]s ~
Government securities In very limited demand
u the counters OF the leading dea'srs and the sales
were sulcsHt 10 produce decline but Al the close the
nsrket was steady Al tho following quotations.
registered, 1884, 1903 lloti; coupon, 1851, Ill
Ms; 1ve-tven.ica, registered. 1862, losx 100; do
coupon, 1902 lis IlsS; Co. 1854 loo1. ivsss: do
lsoa, llo]S llos. do do January and July, 1917
1os; do, 1857, los los1; tenforiics registered, 90
sax; do, coupon, 1925 1928; gold, 14lH 1917:
August soven-thries, 1917 o 1917; juno do. 1913
S07S; July do, 1914 l07h; October compounds
1891, lls5s max; December do. do, ll77s llsS;
Nay DO 1885. III 1l7t.; August do do ll6 l1oH;
September DO DO, ll5h 1i5A; October do. do, 1l6
n5x.
The conversions Of August seven-thIr,y notes into
bonds n tho Cub Tr.asury since August have been