The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-08

were, however, affected favorably the investment
demand receiving fresh impetus, and In view OF
the low prices at which they selling there is
margin for Q very considerable advance In them, all
other stocks In the country being comparatively
high. The most noteworthy change in the present
return Is the increase Of more than three millions and
. half In the amount OF nve-twenties outstandng-a
fact which settles the hitherto disputed question as
70 whether the government sold these bonds in
September The decrease OF little less than q
milton in the total debt IL attributable to the
premium realised upon the sales Of gold. But not
withdrawing these sales the amount Of coin In
the Treasury has Increased more than four millions
ana Q quarter, and the coin owned by the
Treasury nearly nine millions and q quarter.
Moro than three millions Of three per cent GER
tincates and four millions and quarter OF
Pacific Railway bonds were issued during the month,
and allowance must be made for these last In esti-
mating the revenue and expenditures Of the govern
nent az shown by the increase or decrease OF the
public debt as they form no part OF the ordinary
expenditures or the government. More than four
millions OF compound interest notes radeenasd,
ana mainly In the three per cent certificates
before referred to. About eleven hundred thousand
dollars Of the matured seventhirty notes were also
redeemed, and the currency in the Treasury was re.
uuced million and three-quarters The secret sales
Of gold ana bonds which the statement shows are to
be condemned, and the Secretary Of the Treasury
appears averse to giving the necessary publicity to
his transactions Congress should legsIate % to
specifically define his duties in this and all other I'M
portant particulars. The price Of gold varied % fol-
lows during the day.
1880 A. M........ 14o 1857 P. M.......... l4oN
1888 A. H......... 1909 $50 P. M...13ox 1894
Money has been In abundant supply at six per cent
on CALL with exceptional transactions at seven, and
commercial paper Of the best grade passed freely at
seven per cent The OF this offering Ii rather
night, and comes mainly from the dry goods trade.
On the Stock Exchange there was somewhat droop-
ing market for railway shares during the forenoon.
but late in the afternoon there was q spasmodic
movement In Erie, apparently engineered for
the purpose Of making market to sell
upon preparatory TO fresh break, as 1t is now
known that there viii be contest for the control
Of the company at the election to be held on the 18th
inst the opposition party having been hopelessly
defeated, and at this juncture we repeat
cur warning to the public to leave this
treacherous stock severely alone. Pacific Mail
reacted heavily from the previous advance, notwirh-
standing the announcement Of the termination
Of the opposition and favorable reports concerning
She Pacific Mail Company and the prospects OF
stockholders. The pressure to realize carried the
price down to 1875 at one time and Q very bearish
feeling was shown towards 1t on the street all day.
There was considerable activity IN Mariposa at I'm
Chairman OF tho bon1hoidorsf investigating COM
Inittee has published letter to-day contradicting
statement made by morning journal to the effect
that the trustees Of the estate hold the property for
the sole benefit OF the holders Of Mariposa certin-
Gates until they paid IN full The trust deed ex-
pressly provides that after the payment OF dividends
ct the rate OF ten per cent per annum upon
outstanding certificates the trustees shall pay half
yearly dividend at the rate Of eight per cent per
Inn hold nj nraf fnr n
Mariposa Company before anything can be applied
10 the payment Of the principal Of the certificates.
The contest between the Erie and New York Central
railways is going forward vigorously, and both OF
these lines carrying freight to and from Chicago
1T rates which are insufficient to pay running ex-
penses The dry goods trade is languid and prices
are unsatisfactory all but buyers except for choice
imported fabrics. The disposition OF buyers Is still
20 limit their purchases to their immediate wants.
At the commencement OF business the stock mar
ket was barely steady and moderately active, and at
the early session OF the open board Erie sold at 49,
New York Central, 1884; Pacific MAIL 1906 and
Narposa preferred 1sk. At the first regular board
there was increased activity, but prices were gene
rally slightly lower, and on the call Reading closed
higher than at the same time yesterday, Michigan
Southern NJ Cleveland and Pittsburg \, Northwest
ern preferred u, Milwaukee and 81. Paul IN, do.
preferred X, Pacific Mail 37s Quicksilver and Ma
riposa preferred 1, while New York Central was l
lower, Fort Wayne y, Canton II, Western Union
Telegraph u, Tennessee skies, ex coupon, u, North
Carolina SKIES Ia do, new issue, TX and Missouri
skies u. Government securities were strong at an
advance OF u on the fve-twenties of 1865 and 1867
and fraction improvement In the other stocks. At
She open board at O'Clock Pacific Mail quiet
at 1851 l29h, while Erie sold at 49, and New
York Central 127 the market being barely steady
in tone. At the second regular board there was
no material change in prices except for Pacific
Mail, which declined to 12eK. On the call
Cleveland and Pttsburg closed u lower than at the
nrst regular board, Northwestern preferred q, NIL
waukee and st. Paul n do. preferred x, Pacific Mail
TX, Quicksilver N, Canton " Mariposa preferred
u, Tennessee SKIES new issue, 4, North Carolina
skies, new issue, v, and Missouri state skies !.
while New York Central was y higher Erie and
Tennessee skies, ex coupon, u. Government secur-
ties were steady at q further advance OF FAX.
After the call Pacific Mail pressed for SALE and
In the absence OF corresponding demand the price
Nsclined to 125. At the open board at hspas three
Erie advanced to 4ex under large transactions.
while other stocks were dull, and Pacific Mai sold
st l2e, New York Central 1924 and Mariposa pre-
ferred 1sk. During the remainder OF the afternoon
there was considerable activity In Enc. which al
yanced to 4sK So and at the close at six O'Clock
the following quotations were current;--New York
Central, 12Sk i2sH; Erie 495s so; Reading, a6y
a BOX; Michigan Southern, SAL s4T.: Cleveland
and Pittsburg, SIX IS; Rock island, 1882. q 1o4;
Northwestern. 6sk Q 80; do. preferred sgIt asgi.
Fort wayne INK Ill u; Pacific Mail 1907 i27l.:
Western Union Telegraph ssl. q SCI; ONO aud
Mississippi, 9sk 2sI.
There has been steady aud active market for |
government securities, the demand coming mainly |
from investors and other outside sources Hence
business was mainly confined 10 the onices OF the
dealers. The nrmncss OF nye.twepties abroad |
has stimulated the demand for Shipment ana the |
bonds Of 1884 and 1867 especially strong but the
purchases are well distributed throughout the Inst
At the close at I've O'Clock the market was firm at
the subjoncd quotations :-Registered, 1881. 1ls a
hsk; coupon, 1881, ia 1l4k; 52o's registered. |
,ss2 1o4X 105: 5.2o's coupon 1862 1t3 Il3i,: do