The New York herald., 1868-10-23

treasure. 1t is reported that the Treasury is about
10 sell much larger amount OF gold per day than it
has latterly received bids for IN order repenish
its currency balance, which Is at present unusually
low; but the premium has already undergone
such heavy decline that further material break
n improbable under existing circumstances. The
price varied as follows at Intervals
10 A. M............. 1851 2:19 P. M......... 1861
I2:ol P. Mn. 1867 5P. M. is5s a 1851
There was no abatement OF the monetary strin-
gency noted yesterday, and seven per cent in gold
was freely bid for lOans and in not few instances
seven per cent in currency and commission Of an
eighth per cent was paid, while much difficulty was
experienced in borrowing even at these
rates. Towards three O'Clock the pressure
diminished somewhat owing to borrowers having
previously provided for their wants, and
. report was simultaneously circulated to
the effect that there to be let upn in money
caused by the parties engaged In the locking up OF
greenbacks relaxing their efforts to produce strn
gency, and rush to buy stocks was the result
Upoa inquiry at the banks, however, we could lnd
nothing to justify such expectation none OF the
funds locked up by unpresented certified stocks hav-
ing been disengaged and no currency previously
Withdrawn having been returned, while bank officers
are almost without exception averse to encroaching
upon their legal reserve, ana 1t may be regarded
break into it in order to relieve the present excep-
ncnal pressure, however desirable for Wall street and
the business community such measure OF relief
might be. Bank managers urge a reason against
It that they are now sending currency to the South
and also to the West, and that they will soon have
% meet the demands OF the pork and cotton crops,
and that active demand for money at or near the
legal rate win be experienced during the re-
nainder OF the year. They further apprehend
shat the unusually low amount OF currency
IN the Treasury will the department to resort
10 whatever means it has at its disposal for In
creasng the same and that In this way supply OF
loanable funds at the disposal OF the banks will be
further curtailed. The operations OF the conspira
1OYs to make money scarce were further seen in the
returns OF the banks at the Clearing House this
morning five OF the barks, including the Union the
Gew York. the Commonwealth aud the Third
National, having been creditors to the extent in the
aggregate Of nearly four millions.
The railway share market was bid up by the bull
cques in the face OF the stringency but prices are
no far above real values that heavy break is liable
to occur at any time, whether money becomes more
abundant or not. 1t Is understood that former
director Of the Erie Company and prominent Wall
street operator is the leading bear 1t at present.
and 1t is confidently intmated that the CON-
pany's acceptances for two millions OF dollars,
which fan due on the LIST OF January
next viii be dish0nored, the main object OF
we speculative exdrector being, 1t is supposed to
embarrass the AFFAIRS Of the company, now tnat he
has no longer voice In Its councils and IN view OF
ts 1t Is feared that much OF the stock hitherto held
or the market on English account win be sold the
expectations OF the holders having been disap-
pointed Mr. Henry Keep has published
card in which he denies being in any
way q party to the movement for lock
A..
impression which might be formed from certain
rumors which have been circulated, but which We
were aware at the time had no foundation in fact
Government securities opened weak OF a slight de-
cline from the lowest prices OF last evening but they
gradually advanced TO the extent Of per cent by
the quarter past two call after which they began to
react downward under q moderate pressure OF sales,
and at the close prices were about x per cent below
the highest point touched.
At the commencement OF business the stock mar
ket was rmer than at the close last evening and at
the early session OF the open board Erie sold 46&
New York Central, 125T; Fort Wayne, ia, and Rock
Island, 1867. At the first regular board prices con-
tinued to chow an improving tendency. and on the
call New York Central closed y higher than at the
same time yesterday, Erie y. Reading ], Michigan
Southern Il, Cleveland and Pittsburg IL, Cleve-
land and Toledo Il, Rock Island j, Northwestern
u, do. preferred n, Fort Wayne TX, Milwaukee
and St. Paul preferred l, Ohio and Mississippi 4,
Pacific Mail x Canton =, Western Union Tele-
graph ~ North Carolina SKIES /, and new issue 4.
Government securities were heavy at the extreme
decline OF last evening At the open board at one
O'Clock Erie sold al 47h; New York Central l2sss;
Reading 90 and Cleveland and Pittsburg, ss. At the
second regular board the market continued TO gain
strength, and New York Central closed y higher
than at the first regular board, Erie A. Reading i,
Michigan MI nd
Cleveland and Toledo IL, Rock Island IA, North
western Ia, do. preferred IL, Fort Wayne 1ss,
Ohio and Mississippi *, Pacific Mail Ia, Canton Ia.
tennessee skies, ex coupon =. do new issue 4,
North Carolina skies = and new issue L. Government
securities were 4 4 per cent higher At the open
board at halfpast three the bulls stimulated the up
ward movement apparently for the purpose OF selling
at the advance, and Erie sold at 4s., Reading eot,
EewYork Central, l29S Rock Island, 1867 Cleveland
and rtttsburg ssH; Fort wayne, 1l5K; Pacific Mail,
12sls, Marposa preferred, 23I. During the remain
der OF the afternoon the efforts TO sustain prices we're
continued. aud at the close at six O'Clock the sub
Joined quotations were current-New York Central,
12s's; Erie AK; Reading 9sl 90; Ohio aud Misss-
sippl certlhcates, 3iX 3lz Michigan Southern sss
eS;Cieveland and Pitsburg 50 sek Rock Island,
lo''s lo'ts Northwestern,92 ,92n 92ax do preferred,
BIZ e3h; Fort Wayne, 1i5al; Milwaukee and 81.
Paul, 1o4k; do. prcferred, losL 1857: Mar,posa
preferred, 23ys q -.
The market for government securities closed
steady at five O'Clock at the following quotations.:
Registered, 1881, 1i4k q IFS; coupon, ll5x ii5x;
s-2os registered log ioeK; do, coupon lse2, lisI
1l3k; do, 1894, 1i1k liz; do, 1866, 1lls ll2;
DO, new, 1895, iio% i1oI; do, 1867. 1Ios iiol;
do., 1893, Ill 11ik; 1o4os, registered, 1o4 1o4:
DO, coupon, 1854 q 100. Messrs. Jay Cooke Co.,
in their circular, thus refer to the days business:
After closing article yesterday the market sud.
denly became weak and was sold down \ u below
closing rates; 62s sold at 1l3 and CTS at I0eX. This
morning they opened before board at about these
ngurcs, but at the call showed an improvement OF
y y, 62s being lax 13z, 65's 1l0 ll0,k. Money
has been sharp seven all day. and although most
parties supplied themselves az that rate still gold in
ferest has been paid aud seven per cent currency
with commission. II was noticeable however, that