The New York herald., 1868-09-05
FINANCIAL AND COMMERCIAL.
FRIDAY. Sent A-sp NJ

. 1--WE OOtUfvseTtSInIs
FRIDAY, Sept 4-6PM.
The stormy weather to-day has materially inter-
fered with business In Wall street. and on the Stock
Exchahge prices were somewhat dropping until after
noon, when their tendency was reversed and the
market for securities OF all kinds closed frm The
nuctuations In Erie were from 46's to A. and as a
good deal OF this stock Ia being absorbed by invest
ors ana other outside parties who believe In much
hsner price Tor IL ultimately II shows considerable
nrmness. and, judged by all the other leading railway
shares, is undoubtedly the cheapest ON list At
present, however, there is organized speculative
movement in 1t in either direction. 1t is largely
dealt In by the street. however and still attracts
special attention.
Government securities have been rather dun ex-
cept for the nvetwentes Of 1867, which were strong
and active and sold at lOs%. The bonds Of 1854
were neglected, but as they are two per cent lower
than those Of 1855, although they carry the same
amount OF accrued interest and in other respects
equally valuable 1t Is probable that there will
be special movement In them, the margin for
rise being greater than in any other stock on the
list. The outside demand for the later issues OF
nve-twenties and especially the registered stocks,
which very scarce, Is increasing, and there
is at the same time considerable disposition
shown by spectators to cover "shorts" and
buy for o rise. At the close the market was firm at
the subOined quotations. and the signs OF the times
are favorable to much higher prices before the pres
ent month expires:-Registered, 1881, 1l3I 113X;
coupon, 1881, ia 114h; 5-20's registered, 1862,
1882 q 1Osh 5-2Os, coupon, 1852, 113s q 1888 do,
1864, l09h l09z do, 1866, 111's 1l11s; do 1855,
January and July, 10s9s 1857; do, 1867, 1885, q
1Os2i do, 1868, 1881 1oszs; 1O-4O's. registered
1881 lo4t4; 1o-4O's, coupon 1915 lo5; october
compounds 1865, 11sx.
The bears have continued their efforts to depress
the gold market all day, but the indications
now are that the full effect of these has
been felt and that sharp upward reaction can
not be long deferred The opening transactions
were at l437s, following which the fluctuations
were from l4S9l to 14414 with the closing transac
tons prior TO the adjournment OF the board at three
O'Clock at IA, following which sales were made at
144Ii, and the latest quotation on the street was
1A,4 Il l44s6. There was very active borrowing
demand for coin, and loans were made at rates vary
ing from to two and half per cent for carrying,
and afterwards without interest to either borrower
Iendera conclusive sign that the short interest has
been very largely increased during the last few days.
and especially since Wednesday, and the rush of the
bears 10 cover their contracts when the market be-
gins to react strongly will materially assist the up
ward movement. The gross clearings amounted to
$6s,5 o0o the gold balances to $1517456 and the
currency balances to $2,221, 9s9. rhe SubTreasury
disbursed 900 in coin during the day payment
OF Interes. the public debt The price varied au
intervals a. fOllows:-
10 A. NJ. ........... 1887 2:35 P. M...... 143I
1o:25 A. M........ 14414 $40 p M. 144% 1443s
Money continues extremely abundant and loans
are made on call at three and four per cent the lead
ing dealers in government securities being enabled
to borrow all they require at the lower rate. There
Is moderate amount Of currency being sent to the
West to move the crops but this has not yet mate
rally affected the legal tender reserve Of the banks
In which they are still strong. There s very little
commercial paper being made, and strictly prime at
short date is in request at ye per cent, while above
three months it is rated at six and per cent.
At the commencement OF business the railway
share market was dull and steady, and at the early
session OF the open board Erie sold at 48al, Rock
Island 1925 and Northwestern SAX. At the first
regular board the volume Of business was rather
light and prices were dropping. On the call
New York Central closed Il lower than at the same
time yesterday, Erie /, Hudson River u, Michigan
Southern e, Cleveland and Pittsburg z, Cleveland
and Toledo Ia, Rock Island T, Northwestern a.
preferred u. Fort Wayne l. Milwaukee and st. Paul
-, preferred q, Ohio and Mississippi and Pacific
Mail y; while Tennessee skies, ex coupon, were
higher. new issue IL, North Carolina skies new
issuel 4 and Missouri State skies q. Government
securities were nrm and for the fve-twenties OF
1851 and 1865 strong at an advance OF u Z. At
tile open board at one O'Clock the market was dull
and heavy, and Erie sold at 467s, New York Central
126ss and Fort Wayne 1857. AT the second regular
board the bull element was stronger and prices
showed a slight but general Improvement On the call
New York Central closed y lower than at the first
regular board, Fort Wayne p, Milwaukee and st.
Paul preferred 4, and Tennessee skies, ex coupon,
a; white Erie was q higher Cleveland and Toledo
-, Northwestern 4, preferred u, and Tennessee
skies, new issue, q. Government securities were
frm and nve-twenties of 1867 were an eighth per
cent higher. At the open board at half-past three
the market firm, but inactive, and Erie sold at
46if, New York Central 1868, Reading 92h, Fort
Wayne 1885,, and Tennessee SKIES, new 66h. Dur
ing the remainder Of the afternoon there was only
very moderate volume OF business transacted, but
prices were well supported and at the close at six
O'Clock the quotations we're as subjoned:-New York
Central 1865 126ai Erie 46ss 46S4 Reading, e2i<
"A 92I.; Michigan Southern, s5}i a sos; Cleveland
and Pittsburg, s7 SIX; Rock Island, 102ls 1928;
Northwestern. $50 S5%; do. preferred, S5A s5ss;
Fort wayne 1885 10sk; Pacific MAIL 1917 1925;
Western Union Telegraph "a 3414; Ohio and
Mississippi Railroad, 29A 29sS.
The market for foreign exchange has been strong
and moderately active during the day on the basis OF
Io9l for prime bankers bills on England at sixty
days ami there very few bills Offering. At the
close bankers bills on England at sixty days were
quoted ut 1895 1OoI; at three days, 1925 1895;
commercial bills, 10Sh 109; bankers bills on Paris
al sixty days. 5.1sX 5.16i4.
The receipts for customs and the receipts, pay
ments ami balances at the Sub-Treasury in this city
for the explred portion of the week have been fol-
1ows:-
custom V,,ise. ---S Sub Treasury. ----
heceipis Receipts InWnents. Balances.