The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-08-09
FINANCIAL AND COMMERCIAL.


rofy veidng tendency and sales were meos ~ 10" ~
late in the afternoon. There pressure TO sell
Intervals which showed distrus the part Of holders
r stocks and the speculative feeling tanner than /.
pes been for days past There in special cause
For decline At present, however, and the probabilities
hrs favorable an upward reaction after every fall
Pong q spsculaton can rely upon an easy supply Of
money
Money at per cent mixed
csatsras and four while the leading
asalsrs government securities enabled to borrow
large amounts At three per This extreme case gives
sourags the operators fora rise the stock exchange
And hence the market rallies quickly, which wsud
not DO IL the monetary conditions affecting the Stock
xxchangs we're LEES favorable, for prices high in
rsaton TO real values although would not be surps
lag they went higher. The demand for discounts Is
Eight and Arst class commercial paper quoted At
per cent with most OF the transactions at az. The
Tact that thirty millions Of compound interest
InOtes mature the 18th inst appears to exert no
sunstsrai influence either IN checking stimulating
tpeoulaton in stocks The crop prospects continue
Sncouragng and in sections whore the has boen
harvested 1t is reported to have been secured in excel.
lsas condition, while the yield per above the
average Of late years. Other crops promise equally
wc, Including corn, and cheerful feeling prevails
throughout the West where money continues unusually
Ieasy for tho season.
Al the early session Of the open board railway shares
were heavy. Erie selling At eoS and New York Central
~ lo4x. Az the first regular board there some
pressurs to sell Erie which declined to 6sE, while the
general market unsettled New York Central closed
NJ lower than at the time yesterday. Erie az,
Nchisaa Southern III Illinois Central 4, Cleveland and
Pittsburg "a Cleveland and Toledo l. Rock Island *
Northwestern TX, do. preferred "a, Fort Wayne y,
lfQucksilvsr Il, Western Union Telegraph T. Govern.
ment securities were strong and active Coupon skies
pr 1881 were higher nvewenties OF 1862 e, OF
1861 " ssue Of 1885 x. issue Of 1857 u, tenores X
qhe State stocks were heavy Tennessee skies, new
declined a. North Carolina skies y, Missouri skies y.
Tho express stocks lower. Adams showing decline
OF !. American Of r. Wells, Fargo Co. of " and Mer
~hants Union Of Il.
At the open board at o'clock prices slightly
lower than at the close Of the regular session. Eric
selling At osT At the second regular board the market
was dull, but nrmer New York Central closed higher
hsn II the nrst regular board Erie r. Michigan South
ora y. Rock Island y, Chicago and Alton ". Pacific
Nail y. Fort Wayne was lower. Western Union Tel
sgraph 4. Government securities reacted slightly.
Coupon skies Of 1881 declined u, fvstwentes Of 1862
X issue Of 1896 4, ten forties 4. The express
were Inactive and Adams declined l, selling at r.
At the halfpast three open board prices tribe
Bower, Erie selling q cox. The transactions
tmted and during the remainder Of tho afternoon the
narket weak. At six o'clock 1t closed unsettled at
fhs following pr,css:-New York Central 1o4x 1O4X;
Erie SO ssx; Reading 1o4X los; Michigan south.
srn, sok 81; Rock Island 1OlH 1922 Northwestern,
Ns>S . A5x: do. preferred. 90 6sX
The speculative demand for government securities
continues and the advance Of nvstwenties In London
20 7sk impaired especial buoyancy TORTOISE Of the ors
nal issue this morning Purchases made In antici
patton Of aforeign demand and shipments It is
understood have been made on speculation within
week past The inquiry from the public Is, however,
very moderate, and the present movement is confined
20 Wall street. and has Its origin In the
ehsapness and abundance Of money. The market
closed steady among the dealers at the subjoned
Quotations: -Registsrsd, 1884, INK . NIX; coupon
fssl III q ll2k; hve.twenties, registered, 1892
t1o 1loX; nve-twonties coupon, 1852, 1917
tl4; hve-twsntisA coupon 1884, l1ox 110x; Ave
swsnss coupon, 1866, 1lo1S 11lX; do. January and
July, 108x l0sX; nvetwenties, COUPON 1857, 1881
l0SX; tenforties, registered, 90 80k; ten-forties
coupon 1929 1osH; gold, 14oK a14ok August seven
ahirties los 10SH; June do. l07x l0S; July do,
10ik los; August compounds 1854. flok 1loX;
October DO, 1lsh ASK; December do, ll7K ll7x;
!. May d. 1865. III ll7k: August do. 1l6 116k;
September do, 1lSk llSX; October do. lls ll6<.
the tone OF the gold market nrm, tho opening
and closing transactions having been at l40k and the
extreme range Of the day 14ox 14oK. There was an
active borrowing demand for CON- and loans made
q rates varying from ls2 to per cont per diem in
favor Of the lender nAmsy-l16, 1-82 Se4 7s4, $40,
~, ael This indicates . large outstanding 'short"
Interest The gross clsarances amounted to $36 900
aad the gold balances 81 40l os2 The demand for
customs duties averages about half million day. and
understood that the Treasury supplying the
kst TO nearly this extent
' In the Hrss week Of July the Bank or France held
eas 400 900 Of coin and bullion, and the Bank Of Eng
land held the Gath Of the same month Ell I'll, &c.,
Although t Ia usual for the Bank Of England 10 lose
portion Of coin about mdsummsr owing'to
che ssm-annua dividend and other paymentA the con-
trary besn the this year, the having
steadily increased for months past; and, a. the
Imports OF specie and bullion likely 70 be rather
heavy for time 10 come, while the export dsman
promises Do very light SCALE further consider
able may expected. The actual commercial
demand for the precious metals is small and likely
% continue for several months
/ Il Ia 70 and many points Of similarity between
che actual condition Of mercantile and monetary affairs
In this country Great Britain do at present
Az the financial centres Of both countries find glut
OF money and corrssp ondingly low rates Of interest,"
lxa2 per cent IN England being equal 10 about . 4
Der cent here There, too, find manufacturing and
general business unusually dull condition in which It
pas for than year past while the crops
likely TO be heavier than for years past The CON-
oarsoa might be extspded TO the whole Of continental
furops. 90 far - monetary Affairs, 81 least
rssrnsd with . similar result. The hay crop In the
United Kingdom was almost unprecsdsntsdly abundant
nd has been the In the United Satss the whole
Of IL being now secured In each cass
The foreign exchange market steady and quiet
EAe transactions being unimportant Banksn bills on
Esglsnd at sixty days we're quoted at 1905 . \; at
shrss days iioka Y; commercial bills, 1857 . 100.
Bills 90 Paris ~ sixty days, 613a SIS Al three days
knxs Li2x Other continental bills we're rated
khus-
Bonk1y'. Cemm~ciol
g. g. s,s: ;:::: is: 81 *: e
Do Frankfort..... l0X IL <0x l0L
Do Amsterdam. g. ~ loK a Al
On Hsrasurr. 800. sex sex .s5T a 90
Ga Antwerp. .S.l3k a6.15 5.l7x SIS
Mining shares were weak At the nns board corydon
closed lec lower than u the time yesterday sell