The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-22

There has been very strong and active market
for government securities all day, with good de-
mand for investment, and although there are no
bonds being bought for immediate shipment the
foreign bankers were considerable buyers both OF
the ivetwenties Of 1862 and 1867. The tendency OF
prices upward from the opening to the close and
there was a very limited amount OF stocks Offering.
The savings banks are still purchasing alike with
individuals who deferred doing so when the Treasury
dsbursed the July interest owing to the disturbing
influences then at work. Confidence in our national
securities is growing, and it may be considered cer-
tain that Congress will avoid legisatlng upon
the question Of redeeming the fve-twenties and so
leave 1t to be practically solved by resumption OF
specie payments In a manner satisfactory TO all.
At the commencement OF business the railway
share market was steady, and ut the early session OF
the open board Erie sold at s65S New York Gen.
trail, 1904 and Pacific Mail, 1i0h 1l0A. the
volume of transactions being rather light At the
first regular board there was only mode
rate degree OF activity, and on the call
Erie closed q higher than ut the same time on Sat
urday, Michigan Southern Z, Cleveland ana Pitts
burg " Rock Island -, Tennessee skies, new issue,
n, and North Carolina skies, new issue, y, while
Reading was Z lower. Northwestern a, preferred
n, Fort Wayne u, Milwaukee and st. Paul preferred
y, Pacific Mail ~, Quicksilver l and Canton =.
Government securities were strong at an advance
OF Il 4 per cent Subsequently Erie suddenly adj
vanced TO 40 a 49t, but quickly reacted to asa. At
the open board at O'Clock Erie sold down to AK
and Pacific Mail TO 109I. At the second regular
board there was a moderate and well dstr buted
business at steady prices, and the call New York
Central closed u higher than at the first regular
board Erie 1, Milwaukee and st. Paul preferred a.
Quicksilver u, North Carolina skies, ex coupon a.
and new issue u, while Hudson River was Il lower
Michigan Southern y, Cleveland and Pittsburg ~
Northwestern preferred 4 and Pacific Mail x. Gov
eminent securities continued strong at further
advance Of eighth per cent In some instances. At
the open board at hairast three the market was dull
but steady, and Erie sold at Az; New York Central,
1905; Reading, 92sl; Fort Wayne 109l; Rock Island
1o3h; Pacific Mail, 1924 and Mariposs preferred,
11x. During the remainder Of the afternoon prices
were barely steady, while the speculative feeling
was quiet and at the close at six O'Clock the sub
Joined quotations were currept:-New York Central,
1917 laoX; Erie 471a AK; Hudson River, 141 4 o
A2; Reading, 92ss e2s; Michigan Southern, s45s a
IS: Cleveland snd Plttsburg, s71s s7I; Cleveland
and Toledo 1o2I 1o2x; Rock Island, 1853 1881;
Northwestern, sos sos; do preferred, se,l seH;
Fort wayne, 1895 1926 Ohio and Mississippi, 20;
Pacific Mail, 1881 1885, western Union Telegraph,
Ax q 34M.
srhe foreign exchange market is weak under good
supply Of produce bills, limited demand and a
disposition on the part Of intending buyers to await
the receipt OF cotton bills before purchasing Rates
are, however. more likely to react upward than to
decline further. Bankers bills on England at sixty
days were quoted at the close 1885 lVs'i; at three
days, 1907 a 1924; commercial bills, los l0s1s.
Bankers bills on Paris at sixty days. $40 5l71s