The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-02-26

The policy Of funding the scvcn-thirty notes into five.
twenty bonds at the present rapid rate is open
question: inasmuch as it exposes the money market to
arrangement. The balance in the Sub-Treasury has
already risen above thirty millions including specie,
under the operations of the department, which, by
being secretly conducted obnoxious to criti-
cism The leading dealers in securities have
either distinct understanding with the Treasury regard
ing the terms which they sell hires and
buy fve-twenties Of 1865, they are employed
by it to by the one and sell the other the
department paying therefor the full rates Of
sion-pamely, one-eghth q per cent each way II
IL probable that II Most instances the government pays
fraction than the market price for its seven
hres and receives fraction less for its vetwenies
and that the profit In each goes to the brokers
The system Of conversions ut present managed
unsatisfactory that demands the special attention of
Congress- and provision should be made that the
and time OF all conversions shall be publicly announced
by the Treasury, that brokers may have ad
vantages in this respect than the community large
At the open board at o'clock railway shares were
steady at the decline OF Saturday afternoon New York
Central sold at 1924 Erie, sou, Michigan Southern, Tx
x; Book Island ssx q -; Northwestern, s5H; do.
preferred, 65s 4; Fort Wayne, 96h IT, 81 At the
first regular board there material change in
prices, and q moderate volume Of business
acted. Now York Central closed x lower than at the
Saturday, Erie u Cleveland and Pttsburg
u. Rock Island 49, Northwestern y; do. preferred ~
Fort Wayne IA, Atlantic Mail l. Marposa preferred a.
Hudson was Y higher, Pacific Mail r. Western Union
Telegraph -. Government securities rather active
and firm Coupon nve-twenties Of 1862 showed adj
Of i. issue Of 1866 Il, seven-thrty notes Of
the second series u Missouri skies were y higher At
the open board at one o'clock prices fraction
lower New York Central sold at 1021; Erie. So;
Cleveland and Pittsburg soh Rock Island. e51k ~;
Michigan Southern, TN; Northwestern, 35h u do.
preferred. os; Pacific Mail, 100.
Al the haiEpast two regular board the market
generally steady but dull New York Central closed u
higher than At the FIRST regular board Hudson 4
DOVER Cleveland and Psburg " Pacific Mail Y, Allan
tic MALL Government securities quiet and barely
steady, Aye-twenties Of the excepted which
were unaltersd Coupon nvetwsnties Of 1852 showed
decline Of AZ issue Of 1895 V. STATE stocks were
steady At the open board At hapast three market
was fraction higher and New York Central sold at 10s
10. 81. Ere sex; Reading, 104h; Michigan Southern,
TAX h. 81 Cleveland and Pttsburg, S0x; Northwestern
prsferred, IS n CO.,; Rock Island, 96T 00H; Fort
Wayne, 90; Atlantic Mail, "a a 81; Pacific Nail 12SA.
Subsequently, the market remained firm, and at hapast
dve the following quotations were current:-New York
Central, 1881 y; Erie, 56k y; Reading, losx;
Michigan Southern, 72x 49, Illinois Central LOT 1os;
Cleveland and Pittsburg sok Northwestern, Ssx; do.
pr0toffeu, " y rtuCk lsiauu, OO kOft W Ayuos
o5k 90; Western Union Telegraph, AK y; Pacific
Mall 1873 a u; Atlantic Mail s0ll a 50.
The goid market was, on the whole, firm, although
after opening 13s Immediately declined 70 1873 1t
subsequently, however steadily to 1881 the clos
ling quotation. The supply Of coin equal 70 the bor
rowing demand and loans made without interest
and at a 8 per cent for carrying.
The foreign exchange market firm, but dull.
Bankers bills England ut sixty days were quoted at
1OsK i0o at three days. 109A; commercial bills, los
a10SK 1t sixty days, SIS 2o at three days,
613h 5.17k
Mining shares without much activity and slightly
irregular At the first board Consolidated GREGORY cold
sold at SIS IS $14 10; Quartz Hill, - SO 81 20;
Grnnell Gold, 81 Boscobci silver -; Waikiki Load
roc Des Moines 81 49, Al the SECOND board CONSOLE
dated Gregory Gold closed 45c higher than at the FIRST
board selling sl4 IS; Quartz Hill was aoc lower sell
ing at 81 go
According TO return made TO Congress the coin and
paper currency belonging to the Treasury on the 1st
,r.t Tins distributed -