The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-27
FINANCIAL AND CONNER GAL.
SATURDAY. Sept. 2e-e P. M.


e. SATURDAY, Sept. 26-e p. M
yne Uold market has been rather quiet and some
that grooming to-day and the fluctuations were
srom l4l7I TO 1929, with the closing rahsaouon'
ruior 10 the adjournment OF the board a' Vhiee
O'Clock at l4iA, following which there was oeennY
70 l42 and the latest quotation on the street was 1+2
I. l42h There very active borrowing demand
far coin and loans were made at rates varying from
I-32 TO I-le per cent until Monday, the majority OF
the transactions having been at 1852, although
IN few exceptional instances they were re-
ported .'natr after the regular hour for making
pe exchanges. The gross cearings amounted
70 ss5 os4 oOO the gold balances TO s2062 $50 and
he currency balances 10 s3,Ss6,3sl. The Sub
treasury dsbursed sl5,657 in coin during the day
m payment OF interest the public debt. The Gus
toms receipts at the port were about the average,
the aggregate being nearly three millions and half
a sufficient indication OF the activity OF our import
trade and the rapidty with which goods are being
marketed. The temper of the Gold Room is sliL
hearsh the large extent OF the shOrt" interest, as
shown by the scarcity of cash gold, making 1t OF I'M
portance to majority OF the Spectators TO Keep
the market from rising. 1t is so much oVersod'
however, that is liable to react against the bears
III spite of their efforts and the mercantile com
munity adopt a dangerous course IN borrowing M
stead of buying their gold and blls of exchange on
Europe for indirectly they play into the hands of
the gold speculaiors aud maintain the premium at
n higher point than IL would otherwise command.
What the public interests require IN the standard OF
values is stability, and all speculative fluctuations,
either upward or downward are productive OF mis-
shsf 10 the people at large, while they mare
only 10 the benent Of few SPECTATORS. Hence Con
press should impose a heavy TAX upon speculative
transactions in gold ana in this way the evil would
~ diminished, or AT least 4 considerable revenue
would be derived from that unique establishment
sae Gold Room The action OF the Treasury in
selling quarter OF a million Of III the midst OF
Ill active bear speculation in gold continues to ex
cite considerable comment by means favorable TO
Che department. The price of gold varied as follows
o. intervals
10 A. M.................l42s, 2:2l p M.....I4l7S
If:14 A. M.............1421. =. 142la
Money in very abundant supply, and the prin-
e,pal dealers in government securities offered
more than they could use at three per cent, while
She general rate mixed collaterals was firm, and
NE exceptional loans at five few. There is
increase in the amount of commercial paper Offer
ing and The best grade is quoted at 6Is per cent
the demand for this being good and few choice
names are taken at 9. There is hardly any move
nent of currency westward, as the very Slight
reduction IN the deposits III the city banks during
fke week abundantly shows, and there are no ndica
tons as yet that the preparations of The national
banks for their quarterly returns TO be made on the
FIRST Monday in October viii occasion any monetary
disturbance. There was more than usual activity
and excitement on the Stock Exchange during the
early part Of the day. especially in Erie, which due
tuated between 80 and 52}1, and in New York Cen
tral which rose TO l291s. The transactions in both
were very heavy ana about noon there was rush
or the part OF the bears their contracts but
the excitement soon afterwards partially subsidized,
and during the afternoon prices had IA dropping
tendency Erie selling down TO 500, but II the close
. steady feeling prevailed.
The statement OF the associated banks of this city
Tor the week ending to-day favorable continued
monetary ease. The specie has decreased 81 o62 259
hut the other changes are unimportant The deposits
have decreased S756249, and the legal tender notes
$ls5 1A, while there is increase OF s2l AS the
loans and s6O7S in the circulation. The totals OF
The present ana last previous are as sub
Sotn