The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-07-24
ANCIAL AND COMMERCIAL
TUESDAY. yuly 80 2. Y.

TUESDAY. July $50 r. ~ :
knway share market has been excited and buoy
hy, and the aggregate OF business transacted was
DO speculative feeling having been as strong a. at
p since the present bull movement commenced.
bot surprising, considering the extreme monetary
I the harves. prospects, aud the absence os much
supper. makes but little difference to tho enthu-
buyers for rise. In like manner no import
attached to the reduced earnings Of most Of the
railways as compared with their returns for the
lnding period Of last year Hope is building
a the air. Everything Is lovely and the goose
lgh." The bulls are the successful aspirants for
for tho time being and they are likely to con-
till the monetary conditions affecting the money
are changed. Nevertheless, the higher prices 60
p they will be liable TO violent reactions at in.
b remains abundant, and most Of the loans to
Tx Exchange are made at Eve per cent, while the
dealers In government securities are amply sup
l -four. At the same time there are exceptional
Ions at six, but generally for small amounts or
Tho internal exchanges are just now in favor
centre: a considerable sum In currency was
4 by the last steamer from New Orleans and the
from the West are in excess Of the remlttances.
opinions are expressed as to the effect of the re-
IN In currency Of The thirty Ave millions of com.
Interest notes duo in August. Most Of these are
Id by the banks and counted as portion Of their
and the Treasury IN paying them of will do go
b national bank notes. which, not being available
at the Clearing House like legal tenders will BIO
weight for them to carry II the banks OF
had at any time TO exchange ouch an amount OF
|rd interest notes for national bank notes one
results would be likely to happen. In tho FIRST
10 banks might sell the notes for legal tenders mt
Int, probably, o! from u to x per cent. In the
iey might sort the notes and send them home,
TO the banks issuing the same, for redemption;
would DO an almost herculean task; or, falling
tho Clearing House might, by vote Of Its
re, decide to admit national bank notes to on
y with greenbacks in making the daily exchanges.
uld be the signal for fresh initiation of prices,
vii; not improbably be done at some future
3 q measure. of relief, If Congress fails
IS an act substituting grcenbacks for
/ bank notes This last ought to be done, and
valont amount Of the bonds deposited as a basis
ilation should be cancelled, and the twenty mill
coin now raid as interest thereon would thus DO
O tho country. As II is, the national bank notes
Il system. There is no change to note in the dis
inc. The banks are very cautious in the selec.
names, and hence the amount Of commercial
50 is small; but this Is rated at a per cent,
o majority Of transactions at 6H. That having
ran three months TO run is not in favor, owing
general expectation that there will be a
quckening Of the movement Of capital
10 the crops during September and
!. and not impossibly the first symptoms
,ply Of funds at this point is, however, so large
. drain win not be felt for some weeks after It
and should the harvest prove as abundant as II
ctod to be the moral effect will be such that
YER cent money market will hardly reverse the
speculation In Wall street unless attended with
Of legal tenders.
o early session of the open board railway shares
cady at q slight advance upon the closing prices
evening, New York Central selling at 1o93i and
Tx. At tho nrst regular board the market was
and the tendency OF prices was upward, except
lnberland and Western Union Telegraph. New
entral closed y higher than at the same time
az, Eric 4, Beading TX, Michigan Southern u,
nd and Pittsburg Il, Rock Island q, North
!, Il, do. preferred ~, Fort Wayne q, Ohio and
ippi certificates u, Pacific Mail u, Atlantic Mail
Icksilver n. Cumberland Coal was Y lower,
q Union Telegraph e. Government securities
cry Arm and moderately active. Coupon five
,s Of 1884 advanced u. issue Of 1855 u. There
uoierate business transacted in State stocks, and
see SKIES OF the new Issue advanced Il, willis
ri skies declined r..
70 one O'Clock open board tho market was active
ong, especially for New York Central which sold
10, and Erie, which touched Is. Al the second
board there was no material change, either In
eculative temper or pricea New York Central
/. higher than at the FIRST regular board, Erie u,
an Southern Il, Northwestern u, Fort Wayne e,
and Alton 1, Ohio and Mississippi certificates y.
, River was 4 lower, Reading u, Rock Island z,
liver u, Western Union Telegraph u. Govern.
securities were neglected but steady in tone.
thirty notes Of the second series declined y.
zee skies new declined e.
10 half.past three open board the market reacted
,. New York Central sold at 1903 o X; Erie,
Hudson, l193S a "; Reading, 1osh . q; Mcbi-
uthsrn, So; Cleveland and Pittsburg, e.ss; Rock
lolT . 1O2h; Northwestern, Al 4; do. pre-.
7iss; Western Union Telegraph, ASK aS; Pa
Iall, l47H. subsequently there was . further
nal decline. followed by . return Of buoyancy
carried prices TO the highest point Of the day, and
o'clock the market closed strong at the subjoned
ons, especially for Erie, the transactions in which
eavy Now York Central, 1927 ITO; Eric, rs
leading, 106lS q u; Michigan Southern, s25S a y
1c2x q u; Fort Wayne, 1041S q u; North
a, ~ q 4; do. preferred, 725s u; Pacific Mail,
. X; Ohio and Mississippi certificates, 26ss a =;
n Union Telegraph, 4s's a. r..
Q was an enlarged volume OF business transacted
securities at the counters Of the dealers,
xh they vera neglected at tho board, and at the
{ business the market was steady at the subjoined
Registered, 1851. llol4n y; coupon. 1881. Ilo,s
registered, 1862, 100 a u; fve-twen-
oupon, 1sc2, ll1S u; nve.twcnties, coupon,
0s1< a u; hve.twenties, coupon, 1895, 109x a
January and July, 1857 y; 1ve-twen,ies,
!, 1851, 10sk -; ten.fortics. registered,
u; tep-for!ies coupon, 1929. "a; gold,
q I4o; August seven.thirtes, 10sH AZ; juno
lh!rties, 1914 los; Suiy scven.th!rties, 1os< a
ugust compounds, 1864, 11s Y; October do.
Is "; December DO. do, ll7iS *; May
urds. 1885, lloss q; August do. do, l151
September do. DO, 1853 u: October do. do
q q.
gold market was duh and barely steady. The
a transactions we're at ito, and the fluctuations
between this point and 1928 during the rest OF the
he latter being the closing price There was q
active borrowing demand for coin, and loans were