The New York herald., 1868-05-24
FINANCIAL AND COMMERCIAL.

SATURDAY, May 28-6 p. NJ.
The gold market was duh and steady all day, and
the fluctuations were from 1895 to 1884, with the
closing transactions at 139A. The gross clearings
amounted to 2o,27000O, the gold balances 10
$I2l5,O09 and the currency balances to $1,SlS3Sl.
The shipments of specie were heavy, the steamer
City Of Paris having taken out $l,3700O0 the Bava'
ria 1884 $685. the Hevetia $4,000, the Rapdan, Tor
Havana, $4,000 and the South America. for RIO
Janeiro, $21,156, the whole added to the previous
shipments making total for the week of
s3947,637. The disbursements OF coin at the
Sub-Treasury in payment Of interest on the
public debt during the day were larger than usual OF
late the aggregate being s645, co. while the conver
sions of seven hrties amour ted to ST. 100000. The
last of the authorized fifty millions OF three per cent
certificates were issued this morning, and there
fore the remainder Of the compound interest
notes will have to be redeemed in currency,
The amount OF these notes presented at the
Sub-Treasury between the 18th inst. and the
close of business yesterday was $17,256,0lO.
The certificates now command small premium.
The conversions OF sevenirty notes into bonds are
stimulated by the prospect that after the end OF the
present month the new fve-twenty bonds OF 1876
minus the July coupon will be issued in exchange for
the notes. Anne rican silver is quoted at Q 81 per
cent less than gOld and Mexican dollars are current
at 1881 1881 in gold.
Money was in very abundant supply, while the
demand from the Stock Exchange continued light.
Call loans were made mainly at five per cent, and
large sums were offered to the leading dealers in
government securities at four, although six was
generally asked by the banks from applicants for
small and moderate amounts mixed COllateraS.
The extreme monetary ease is beginning to have
some little effect in stimulating the movement OF
railway shares of which Reading Is just now the
strongest, under expectation which prevails that
the next dividend the company declares will be in
cash instead of the usual scrip by which the stock
has been ''wateredn to q damaging extent. The
cliques in Cleveland and Pittsburg and Michigan
Southern have been manipulating those shares for
rise; but IL is dangerous to buy them at
their present inflated prices. Pacific Mail shows
great strength, and it experienced further advance
to o3h this afternoon. The outside public is not
likely into Wall street and relieve the cliques
Of the load they carrying under existing circum
stances and the latter must, therefore, be content
with .milkng the street" until something turns up
to their advantage, failing which they swill be
likely to give way under the burdens they have
assumed, when the whole market Will fall into panic.
The bulls, however, still talk OF summer rise, while
the bears doubtful as to any such possibility and
N the meantime prudent investors cOnne their pur
chases to government securities and first class rail-
way mortgage bonds like those of the Union and Cen
ual Pacific Companies.
The statement of the associated banks of this city
for the week ending to-day makes very favorable
exhibit of their condition. The legal tender notes
show an increase OF $4,619667 and the deposits Of
S1194245, while in the loans there is a decrease of
s3435O4 in the specie Of $462 1876 and in the circula
ton of SlO2ll. The totals OF the present and last
eta ITO az NJ