New-York tribune., 1867-08-31
oprN nnARn nR nPnKERs-.5l ?. ".
PEIgOLft-M AND MINING STOCKS.
I4EsT BOAED.
FRIDAY, Aug. 3O-P. II.

Gold is higher closing at 49,, after selling at l423
The cearings at the Gold Exchange Bank were
So 29O.OOO, and the balance $l,l2A9CS.
Government stocks continue firm, tho old 52OS sell
ling as high as III. against 49, Che afternoon of
nc 2sth an advance of u. per cent. The 6s OF 1881
are also per cent higher. There is probably short
interest in these two issues The later issues
are higher, in sympathy with the old
bonds and the frmncss in gold. In State stocks
and railway mortgages little doing. The
Miscellaneous shares continue neglected.
Railway shares were sold moderately at fractional
advance, but there no strong buying on demand
for large amounts The recent advance In Cleveland
and Toledo proceeds from reports of proposed con-
solidation with the Cleveland, Painsvile and Ash
tahula road The latter Company is to he watered
freely. aud n cash dividend made from bonds to he
sold aftor which an agreement is to be made TO put
the two roads together at about $2lOOoOOO Tor
200 miles. If e present holders of Toledo
find a market for their stock after it is watered,
they will be well rid of what, upon the present
ent income of he Toledo road looks like hard bar
gain Michigan Southern is also firm, under rumor
that MI Vanderbilt was to loan money enough to con-
troll the stock until after the next election, when it
will be Consolidated" The great railway pan
acea Just now appears to be "NanderbilV and con-
sodation. After the call the market was stronger
Erie selling at 70 and Michigan Southern Mt So The
demand was quite brisk for small amounts. At the
Second Board the market was steady and all the lead
inc shares were in demand at quotations. After the call
prices remained firm, and there was a good demand
for Erie at t0l Michigan Southern at o3, and Cleyc-
land and Pittsburgh at o. Fort Wayne was strong
at 1867, with small offerings. The market closed
strong. and all stocks were in demand at quota
tons The closing prices were New-York Central,
l0jlalO5!; Erie 70!G7O5; Reading, 1Oi3dl0l3; Michi-
gan Southern, S2IdS3: Cleveland and Pittsburgh,
gIaqI; Rock Island, lO3l0lO3s Northwestern, 4Gg
aIGi; North-W Western Preferred, 1Q.Q7O3; Fort
Wayne 1861.
Money on call on primo colatorals is abundant at
low rates. but no lender wants long engagements on
speculative risks The rates 495 per cent, with
exceptional lonns at g. Commercial paper sells at
Gd7 for best, and Sa9 for second grade.
The Bank Statement" of next Monday is waited
for with much interest Thus far il cannot be stated
with certainty that there will bo an increase of legal
tenders or of deposits some banks reporting gain,
while others of equal prominence report change of
consequence. From careful inquiry, il is probable
that the deposits and legal tenders will show gain
of from 100000 to $50000O0 each. If substantial
increase of deposits and legal tenders not shown
upon the rapid depletion of the Sub Treasury during
the week. none can be expected for some time, the
SubTreasury has exhausted its present power TO re-
store to commerce its boards of currency in exchange
for compounds held as bank reserve 0ras temporary
investments The movement at the Sub Treasury is
shown by the following fgures:s
sUBTEEAsURY BALANCES
Aug 90 $3.50 25 Aug 20. $l2 2334l9 Dee SIS OCOs26
Each succeeding Bank Statement will be closely
examined by borrowers. In addition the demand
for money from the interior. now large is sure to
increase to the extreme capacity of the banks at an
early day. There is the necessity of preparation for
the quarterly statement of October a day dreaded
by "enterprisng institutions" at all times, and most
of all in periods of active demand for money.
Upon the maturity of the compounds in Oe-
tober, the Secretary of the Treasury may to, pre-
vent panic, give the banks the $jO,00O,OOO
Of three per cent certificates, aud enable
them to maintain their legal reserve, but this is by
no means certain. The of these certificates ut all
only be justified by the necessity of sparing the
banks panic. Instead of using them il is the inn
peratve duty Of tho Secretary to prepare for all
maturing compounds by the sale Of gold bearing
bonds. IA long as 5-20s will command any premium