The New York herald., 1867-06-02
FINANCIAL AND CONNER ciAL.

SATURDAY, Junsa-6P NJ
Tho railway share market showed con-derable ANNA
ton and buoyancy to-day, notwihstarding that
10 less abundant supply than il ras few days ago,
and that the statements OF the associated banks for the
week not expected be OF the most favorable char
acser TIE loans likely 90 show decrease OF more
Than three Millions and ae deposits decrease OF about
The same amount. the legal tenders reduced
about millions while the specie has increa cd
nearly half million The ub.Treasurer under
stood to have bought a million OF seven-thirty
notes this morning In order to exchange
them for new fve-twenty bonds OF 1885, and he will
doubtless continue these purchases and sales
of bonds, under instructions from Washington far
~ possible until the former all funded. The Sub
Treasury balance is reduced to s123 732 this
fns which shows that II Is either disbursing freely
shipping currency to other points, probably BOTH
The Improvement in the speculative feeling on the
Stock exchange has set in with the quckening
of activity in money. and the probability is that the
rise wili not foi little time be pro-
sressivs Monetary strngency is, however
almost impossible under present circumstances,
and consequenty whenever Wall street becomes
the OF active speculation in stocks thero will
be hug In the condition OF the money market to
check But yet the speculative temper is not suf
ncienty strong decided to give real encouragement
either bulls bears. The former rely upon non-con-
traction abundant harvests to raise prices and tho
upon reduction OF railway earnings In future,
aud the lack OF speculative spirit among the people to
depre.s them Probably as the bears have had 1t
nearly all their way for than half year. tho
bulls stand the best chance Of beng successful but
more capital must first be enlisted on their side
The money market continues moderately active and
no business is reported undsr six per cent while
the general rate mixed collateras is seven The
supply OF capital is however, more than fully equal 10
she wants OF borrowers and hence there no cause for
spprehensons OF monetary strngency. First class
commercial paper is in limited supply and quoted at
TX per cent The internal exchanges are still in favor
OF this and Treasury is the only source Of
disturbance at present and is to the interest of the
department prevent monetary spasms and contribute
AZ much possible to monetary ease
Al the ton O'Clock open board railway shares were
moderately firm New York Central sold at sss< x:
Erie, 59Aa q; Hudson, 1O29S Reading, 1887 1O4
Michigan Southern, $50; Cleveland and Pittsburg, 75s
u; Rock Island, ss; Northwestern, 3sJI S4,.; do
preferred 5sA; Pacific Mail, 12sI.
Az the first regular board the market showed increased
strength and activity.
New York Central closed y higher than at the same
time yesterday, Erie n, Michigan Southern l. Cleve-
land and Pittsburg r. Rock Island 4, Northwestern
j, do preferred Il, Milwaukee and st. Paul preferred
4. Pacific Maid y, Atlantic Mail l, Western Union
Teieg,aph e. Fort Wayne was Il lower, Boston Water
Power H.
Government securities were Hrmer, but quiet. Cou-
pon dvetwentes Of 1852 advanced issue Of 1864 and
1885, y. Tennessee sixes new. experienced further
advance Of IL; Missouri skies, 4.
Al the O'Clock Of the open board the mar.
ket strong, and New York Central sold 90; Erie
b01s x; Reading, lO4; Michigan Southern. o9ll q;
Cleveland and Pittsburg, 753; Rock Island SSK 1;
Northwestern, 34,l; do preferred 5sT; Fort Wayne,
'sss; Boston Water Power %; Western Union Tels.
graph, AZ! 4a s.---.-.=s..
During the rest Of the afternoon there good de-
nand for the leading railway shares and prices further
advanced. the closing quotations 1t fpasf i've being
- foiiows:-New York Central, osK %; Erie 60h
Ak: Reading, 104h x; Michigan Southern, 0s5S 90
Illinois Central, 1171s y Cleveland and Pttsburg,
75s. . 4; Rock Island, ssss s.; Northwestern, 34i:
-; do. preferred, 5sss X; Fort Wayne, 9o1z q y;
Ohio aud Mississippi certificates. asa u,
Copsos aud American securities quoted thus in
Ycrdon an IN unde entioned datas