The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-06-24

treasury o0posits the Treasury Will forward checks
representing the semi-annual interest on them few
days In advance Of its becoming due, In order
to facilitate the clerical labors of the
department "a well Is to put the banks concerned
In possession Of the interest the day Of It's
turtty. The volume Of speculative business In the
gold room has been growing Of late and the gross
ceartngs to-day amounted to $50, 900, the gold
balances to 49, and the currency balances to
$l,654, 2S3. The SubTreasury disbursed $4,000 In
payment Of interest on the public debt, while the
conversions OF seven-thirty notes into fve-twenty
bonds amounted to s., 017soo. There was spirited
debate on the whiskey tax In the House of Repre-
sentatves this afternoon, when by a decisive vote
OF 81 TO 81, the tax was fixed at fifty cents per
gallon The provision In the tax bill exempting
whiskey IN bond from the special tax OF two hundred
dollars for the first nifty barrels manufactured In
each distlery after the bill goes into operation Is an
unwtse discrimination which calls for amendment
Already whiskey In bond In the western cities has
advanced about nine cents per gallon In consequence
and thus SPECTATORS would be the only gamers by
the exemption The special tax ought to apply
equally to whiskey In bond far it is possible to
make it so. Proper amendments are, however
promised to the bill In the House by the Committee
OF Ways and Means.
The stock market was somewhat dropping at one
time in the forenoon, but it afterwards became
strong. Although prices are high the speculative
feeling Of the street Is very bullish, and their ten
dency Ia decidedly upward. Reading continues the
most active and buoyant Of the railway shares, and
1t experienced further advance OF more than one
per cent during the day. sales having been made at
1885 Next in point OF buoyancy and activity
were the Chicago and Northwestern stocks
which advanced about equally, the preferred
selling at 79H. Rock Island after declining
apparent cause. Pacific Mail was barely steady and
but lightly dealt In, while Cleveland and Pittsburg
was firm but quiet. Erie remained neglected and
experienced fractional decline There s no change
to note In the supply Of money which Is supera-
bundant at 8 per cent for loans on call, while
first class commercial paper Is scarce and In request
at s q 6k per cent. AS the day upon which the ma
tional banks win have to make their next quarterly
returns approaches It appears certain that not the
slightest monetary disturbance here or elsewhere
will be occasoned thereby, and the money market
will remain very easy without doubt until after the
month OF August when the usual drain westward
will begin to be felt. ang wv
There has been very strong and active market
for government securities all day, and the course Of
prices has been upward, particularly for tenfores,
which advanced TO 1O7k q lo7H under large transac
tions There was also q good demand for FIVE
twentes Of 1855 for export and for the bonds Of 1867
for home investment. The disposition to employ
idle funds In United States stocks OF all kinds con-
tinues unchanged and the banks still free buyers
in anticipation Of higher prices. The July demand
for investment will be likely to materially affect
prices, as the stocks Of bonds now held In
the street are rather light and holders are
indsposed to sell in view Of the probability
of rising market until the end Of August The
market closed strong on the street at the follow
ing Observation-Disclosures, 1881, 112T q 113; cou-
pom. 1881 117% 11s; 5-20s, registered, 1892 109X
ITO; 5-20's, coupon 1882, 113x 113X; do, 1854
nix lily; do, 1866, INK 1l1X; do, 1866,
January and July, ia 114H; do, 1851, 114k a
114H; do 1868, 1l0h 1lOK; 1040's, registered, 107
a 1O7H; 1o-4o's, coupon, 1O7k 1o7H; June 7.so's,
1lOX 1loS; July 1905. 11oK l1oh; August COM
pounds, 1885, 1lSh; September do. do lis; October
do. do, 11TK.
At the commencement Of business the stock mar.
kct dull and steady and at the early session Of
the open board Reading sold at 1927 and Cleveland
and Pittsburg at 81. After the call prices declined
kaX per cent, and at the first regular board there
was no material change. New York Central closed
lower on the call than at the time yesterday,
Cleveland and Pittsburg Y, Fort Wayne " Mil
waukee and st. Paul preferred y, Western Union
Telegraph " and Tennessee sixes ex-coupon, v;
while Reading was y higher, Northwestern u, do.
preferred n. Pacific Mail y, and North Carolina
SKIES new ISSUE IN. The transactions In the State
stocks continue above the average the activity being
speculative. Government securities were strong at
an advance Of about u per cent.
At the open board at one O'Clock the market was
stronger, and Rock Island advanced to 1904 and
Reading to 102E At the second regular board prices
continued In the ascendant especially for Reading
and the Northwestern stocks, and on the call
New York Central closed y higher than at the first
regular board, Reading 1, Michigan Southern %,
Cleveland and Pittsburg u, Northwestern ~, pre-
ferred IN, Pacific Mail u, Tennessee skies, ex
coupon. n, and North Carolina x. Government
securities strong at advance OF an eighth for
Gve-twenties and quarter for ten-forties. At the
open board at halfpast three the market continued
strong. and Reading sold at 1o3,ss 1881, Michigan
Southern s1X, North Western preferred 7sX and
Rock Island 1861. During the remainder OF the
afternoon there was no material change In prices,
and at the close the market was strong at the sub
Joined auotations-New York Central, 1s4x 134X;
Erie, coz ee,f; Reading, 1881 1o3k; Michigan
Southern, 91X ok; Cleveland and Pittsburg, o0x o
sok; Cleveland and Toledo, 1o3x losK; Rock
Island loo 1oek; Northwestern, Elk So; do. pre-
ferred, 7sx 70; Fort Wayne, 1l1x nix; Ohio and
Mississippi sox q sos; Western Union Telegraph,
IS q s5x; Pacific Mall, 1o2x q 1o2k.
The foreign exchange market was strong from the
opening to the close and there were very few COM
mercial bills ofering At the same time the demand
was neither large nor pressing; but In the absence
of better supply Of bills rates win doubtless re-
main fully up 70 the specie shipping point. Bankers
bills on england at sixty days were quoted at ITO
11ok; ct three days, l1oK 1lok; commercial bills,
1oox lOex; bankers bills on Paris at sixty days,
SIS 512k.
Mining shares continue dull, and at the FIRST board
Edgehll sold ct % IS; Quartz HILL 81 10; Liberty,
Co.. Bennehon Run petroleum. 81; United states,
S20 HH.1
consos and American securities were quoted thus
In London to-day and on the previous dates men,
toned
June 10 June 1s. June %,
COnsOls. OAK q 81 @x a96 Wx VA
Five-twenties... TAX 73k a78K 18k a73x
Illinois Central 100X a. eoxa- 101 a.
Erie. .......... 90 a. Dka- 45Ta-
The bids for the County Court House loan No. 2