The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-07-10

3S070. 1875; In April S. 76o, 40; in May $4216707
end In June, $s,ss9,7e The total supply during
he half year was, therefore, SIS 12S, 1874. The ex-
ports Of gold and silver to foreign ports the other
eaud amounted to BIOS, 60o-namey, $7,349,s2b
pn January, S42o3,s25 in February, $3,6o4, 9l2 in
[arch, $e,OsS17s in April, $15,sao.23l in May, and
Oil, 823, 626 in June.
The money market continues easy at 4 q s per
DENT while commercial paper is scarce and the best
grade passes at 6a6 per cent In the Senate this
afternoon Mr. Cateils BILL providing for the issue Of
twenydve millions more of temporary three per cent
certhcates, to be issued in exchange for compound
Interest notes. was debated and postponed. The
Senate will. however, do well to bring 1t up again
hnd pass 1t without delay, as the bill embodes what
should have been Incorporated In the act suspend
Ing contraction Of the currency. Compound interest
notes are held by the banks as portion of their
legal tender reserve, and to withdraw them without
issuing substitute capable of being used legal
sender would be contrary to the spirit of the law
prohibiting currency contraction.
The railway share market was nrm all day, and for
Erie particularly strong, its price having advanced
steadily to 70T from o9H at the opening The ad-
vance in Rock Island was supported under report
shat the company has declared dividend OF ten per
Nent, payable on the LIST proximo in Understanding
ncrfp.
Another Wall street forgery was discovered this
morning, the facts in relation to which are as fol-
lOws:-A man giving the name Of 81. Hoyt called at
the Office Of Messrs. Robinson, Cox Co., one Of the
most prominent and reputable stock houses in the
Street. and ordered fifty shares OF the stock Of the
Fort Wayne Company bought for cash, which he
DULY paid for and then asked them to accommodate
him by exchanging the certificate for fifty shares into
ZEN certificates for I'VE shares each which request
they compiled with. The result Of this has
ehus far been seen In the presentation
~ kI.a Of throa or fbooo
certificates altered to hundred shares each. The
numbers of the other seven certificates are adver-
eised and the public is cautioned against receiving
chem. The broker belonging to the open board, who
00ld the forged certificates Is said to have disap-
poared one report being that he has since died; but
&here Ia evidence Of conclusive character that
be had guilty knowledge of the transaction. A
etmiar trick to obtain certificates for small amounts
OF another stock Yves practsed upon another house;
but clue to the antecedents of the forger yet
been obtained The speculative feeling the Stock
Exchange Ia very bullish, and further general ad
Vance in prices is probable The earnings of the
railways are large and the crop prospects highly
Encouraging
Government securities were nominally steady put
Dull on the first call at the closing prices Of last
evening. After 1t became known that Mr. Seymour
was the democratic nominee for the Presidency
prices improved slightly for the vetwenties OF 1867
and the tone of the market for all the issues became
stronger under purchases by some Of the leading
dealers, who had bought at the reduced prices OF
Tuesday and Wednesday, and were, therefore, de-
sirous Of promoting further advance on which to
SELL The recovery since yesterday morning has,
however, been so rapid, especially IN the bonds of
1s67 which at one time touched 1878, whereas they
sold at 1887 this afternoon, that a relapse is
prObable, the outside demand having been checked
by the recent In Congress and the Conven
eion AT the close the quotations were as subjoined:-
United states skies, 1881, registered, 113 113z;
coupon. 1884, 113A 1l3l; 5-2O's, registered, 1867,
1O9H 1925; 52Os, coupon, 1862 113x l133s 5-2Os,
coupon, 1854 11ok 11o3s 52Os, coupon, 1865, 11lA
. 1l1k; 5-2Os coupon, new 1855, 1885 10sa 5-20s,
coupon, 1857 1854 los5s; 5-2o's, coupon, 1868,
aosN 100; IO-4Os, registered, 1O7 1914; 10-40's
coupon. 1914 1OI3S; 1905 second, 1885 1885,
s.aO's, third, 1885, 1887. The circular OF private
banking house thus refers to the market for bonds
during the day.
The adherents of Chief Justice Chase were to-day
more sanguine than ever of his securing the Presi
dental nomination, and under the belief that his
financial record would neutraliZe the damaging
clauses of the platform on the bond question they
were heavy buyers OF government securities through
out the day; but when the news Of Governor Sey-
gm0ur's nomination came unexpectedy-his name
having scarcely appeared IN the ballots beiorema
ceased entirely all evidently In doubt to what the
OBJECT would be. The purchasers Of the morning
prices through the afternoon, but were supplied
with some very large lots by leading dealers, and
hension as to what may the effect upon bonds
Through the country and abroad as to the policy OF
sneres which A. both parties have now espousea,
nhall become more widely disseminated.
! At the commencement OF business the stock market
was dull but steady and at the early session Of the
open board Erie sold at 6o1s, Reading seX and
Cleveland and Pittsburg STA. At the first regular
board the market was strong but quiet, with well
distributed business Among the railroad shares
Michigan Southern was the strongest and OF the
miscellaneous shares Pacific Mail. Michigan
southern closed IL higher than at the same time
yesterday, Rock Island Is, Northwestern preferred
BIZ, Fort Wayne rs, Milwaukee and St. Paul pre-
ferred ~ Pacific Mail "a, Western Union Telegraph
- and Tennessee SKIES new issue, -; while North
Carolina skies, ex coupon, were 4 lower. Govern
mcnt securities were strong at an advance OF u ak
per cent, the hve-twenties OF 1867 showing the
sargcst advance. Among the State stocks Tennessee
skies new, the most active. Contrary to expec
tatton the assembling OF the Tennessee Legislature
1s regarded with apprehension by the friends Of the
credit OF the state, and 1t is now stated that the
object OF the special session is not to provide funds
Go meet the matured indebtedness of the STATE, but
90 organize the militia to repress the numerous ont
RACES committed by the Klu Klux Khan and other
disoyal organizations aud persons The cost to the
State Of the militia last year estimated se5oooo
che equivalent Of million dollars of the bonds Of
state at their average market price, and 1t Is pro-
babe that It's cost this year will not be reduced as
party spirit Is likely to run high during
che Presidential canvass and the movements
of the militia may aggravate what n is
designed to quell Should the Legislature adopt the
policy toreshadowed by the Nashville organ OF The
local government and appropriate the revenue Of the
State to a common school fund for an indefinite
period the eject upon the credit OF the State would
be very damaging. There win, 1t ia said be strong
efforts made by parties interested in the payment OF
the overdue principal and interest Of the bonds to
get che Governor to rescind his proclamation con.
vening the Legislature the 9th inst. and thereby