New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-07-03
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PETROLEUM AND MINING STOCKS.
FIRST BOARD.
TUESDAY, July 2-P. NJ.
Gold has been steady at 1881.

IVEeDAlb July Z-F. NJ
Gold has been steady at 1881.
The clearings at tho Gold Exchange Bank were
So, 7l9,O00. and the balance Sl,S0627S.
Government bonds firm, with moderate offer
ings. and full prices are paid for all classes State
bonds were steady. The miscellaneous share list
was dull and generally shade lower. Pacific Mail
remains firm at 1iii Atlantic Mail sold at 100; Cum
berand Coal 36l; Western Union Telegraph, 45s;
Quicksilver, So Canton, 4Gl. The Railway market
opened dull the sales have been very heavy to real
ze profits for the past two days, and spectators APP
pear to desire to hold off until after the 4th Of July
before entering into any new engagements The
sudden collapse shows clearly that operators want
profits and not stocks and that an investment de-
mand, which alone can be depended upon to perma-
nenty advance quotations. does not exist at current
prices. In the reaction Eric sold at 6j; North
West at 49i; North-West Preferred, G4iGGl;
Michigan Southern, 7G! and Rock Island,
gj3. After the call prices recovered 1t is be-
coming generally understood that a fresh effort
will be made this Summer to oust the present
direction of the Erie. It Is argued that management
as good as that which has raised the Harlem from
the position of worthless fancy to that of sound
dividend paying stock, worth premium in the
market would render Erie valuable as an invest
ment. And il is felt that so great enterprise as
the Erie deserves 10 be IN better hands than those
stock gamblers. The opposition last year would
have succeeded in electng their own men had not
compromise been effected at the last moment This
year. we understand, the party which aims at obtain
ing control of the road will be satisfied with nothing
short Of entire change of direction and the inau-
guration of new and economical system of manage
ment After the call prices recovered. 1t is reported
that Mr. Henry Keep will retire from the Presidency
of the New York Central, and be succeeded by Gen.
Baxter, and that other changes will be made in the
direction which will bring the road into full SYM
patty with the Hudson River management The
disposition to buy continues, and the reaction has
been improved to pick up good many stocks by
strong parties. State stocks steady. Rock
Island and Pacific per cents sold at so, excoupon
In Express stocks less doing. At the Second Board
the market was strong. and after the call rampant.
and an advance of from lia2i per cent was made on
the lowest prices of the morning. and the sellers Of
the morning eager buyers to cover their shorts
There appears TO be no diminuton of the desire to
buy and large blocks of stocks taken by parties
abundantly able to carry them at each reaction In
prices The market closed strong The following
are the closing prices: NewYork Central, 105t01O5i
Erie, 67.967a; Reading, 1O9!alO9i; Michigan South
ern 7sl97si; Cleveland and Pittsburgh, s6fGS6t;
Rock Island, 96i097 northwestern. 46td46a
North Western Preferred. 66!8e8l Fort Wayne,
lOOi0iO0i.
Money on call Is abundant st 496 per cent. and