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

provisional purchase
= --hich report however, lacks confirmation,
d JULIA, :" --"-'--'
Nthough " - "" unreasonable TO suppose tnat Inc
'e'...utton,sts in Spain would be willing 70
dtspose Of the island for moderate
consideration in cash OF which they are much In
need. The opposition to such scheme In Cuba wiii
however, be naturally very strong, owing to the
emancipation Of the slaves which Il would involve,
and large part Of the taxable wealth OF the island
Il at present In this precarious kind Of property.
the closing transactions prior to the adjournment
Of the board at three O'Clock were at l4OA, after
which sales made at l4o,s, and the latest quo
tation on the street was l40H o l4oA. There was
diminished supply OF coin for delivery, and
loans were made at rates varying from lisa TO "
per cent per diem for borrowing The gross clear
ings amounted $7s 600 900. the gold balances to
el,535l9l and the currency balances to So, 3S4 l93
The gross clearngs yesterday amounted TO
elO4 00o The Sub Treasury disbursed ST. in
coin during the day In payment OF interest on the
public debt. The steamer Ocean Queen brought
500, 02S from San Francisco and Aspinwall. The
statement OF the public debt for October, to DO pub
nshed tomorrow, will, 1t is said show decrease In
the amount Of $o3ooOO owing to the internal revenue
receipts for the last nine days OF September having
been heavier than usual Of late. The Trea-
sury IL reported to have held S97,O00o00 In
coin on the lst inst, and $1s 800, 900 in currency
while 1t u stated that about 1000 900 of Pacific
railway bonds have been issued since the LIST ult.
The price Of gold varied thus at intervals during the
day.
1oA. M............14oK 1875 P. M............14ok
022 A. M...........l 1904 8P. .140X
Money was In abundant supply from the opening
70 the close at six per cent to borrowers In good
Credit with exceptional transactions at seven, and
% far - natural causes are concerned there IL
nothing upon which to base the expectation Of
active market. The drain OF currency westward is
hardly perceptibe, and this Is ONSET by receipts from
other quarters. Allowance must be made at present
1or the natural desire Of the banks to keep up the
rate Of interest and their consequent efforts to do So
and the probability Of lower rates should not be lost
night Of the amount Of loanable funds now seeking
employment being about large before the recent
sGingency was experienced. There is more doing in
commercial paper than there was last week. and the
best grade passes at per cent per annum dis
count The supply is invariably from the dry goods
trade at four months and some Of this is rated at
eight and nine per cent. In dry goods there Ii .
rather active trade reported but prices without
Improvement and domestic cotton fabrics in par
hcular are from ten to fifteen per cent lower than
they were at the commencement Of the season,
chiefly In consequence Of the decline in the raw
material. The leading feature OF the stock
market has been the further advance in Pacific
Mail to 13l, owing to the virtual completion Of the
arrangement for the withdrawal OF the opposition
hne. The transactions In the stock were large but
Is v becoming scarce for delivery. Western Union
Telegraph was also largely dealt In, and there was
IN active demand for Erie, supposed to be for ship
ment to England. The speculative feeling Of the
street IL for the time being strongly bulish.
There has been o very firm market for government
securities during the day, and the investment de.
nand was reported active, while the speculative
lisrhf TvSaA
1854 were strong, and there was good inquiry for
them from the foreign bankers. The chief activity
however, was in the bonds ofs6z to which the invest
ment demand Is mainly confined. The indications
ARE In favor Of gradual advance In market values,
cur national securities being the only really cheap
stocks In Wall street. At the close at i've O'Clock
Che following quotations were current, the market
being at the time strong:-Registered, 1881, 1919
ll3 coupon, 1881, 1879 q ia: 6-2os, registered,
1o4N los; coupon. 1862, 11a1s a11ak; do, 1854,
xl0x o l10K; do, 1885, 110s< 110zs; Co.,, now,
1906 1857 1osA; do, 1867 1881 1OsX; do, 1855,
1oeH . 1O9k; 1o-ao's, registered 1881 1ol; do,
coup on, 104X 1o5. ..,s+..s,...
At the commencement Of business the stock mar
ket steady and at the early session OF the open
beard Pacific Mail sold at 1884 1247i, New York
Central 12sx and Erie 49, At the first regular
board Western Union active and advanced to 3s,
and Pacific Mail sold up to 12e and Mariposa pre-
Serred to 49, Tennessee skies were steady at about
yesterdays quotation, ex dividend three per cent?
On the call. Reading closed y higher than at the
same time yesterday, Michigan Southern u, Cleve-
land and Toledo lX, Fort Wayne u, Milwaukee and
Sc Paul 2 do. preferred l, Pacific Mail, ~, QuicksIl
yer ~, Canton TX, Mariposa preferred ~, Western
Union Telegraph 3, and North Carolina new issue)
=, willie New York Central was ~ lower, North
western u, do. preferred and Tennessee skies new
issue) u. Government securities were steady AT
lxoorA NJ nsr Ar oil
% 1861, New York Central to 1851 and Reading to
oek. After the cau Pacific Mail rose to 131 In the
midst OF considerable excitement under the report
shat the opposition line TO California had been virtu
ally withdrawn. At the second regular board Pacific
Mali sold at 12oK q 100, while the mar
ket generally was steady, and on the call
Reading closed u higher than at the first regular
board, Northwestern ~ do. preferred u, Milwaukee
and st. Paul 2, do preferred 1, Pacific AZ, Quick
silver n, Tennessee skies, ex coupon, y and new
issue n. while New York Central was " lower,
Michigan Southern 4 and Fort Wayne X. Govern
ment securities were firm. At the open board al
half-past three Pacific Mail firm at 49, 1t being
known to few that compromise between the
Pacific Mail Company and the North American Com
pany accomplished fact. Subsequently
Pacific Mall declined to 1857 under the duness fol-
lowing the previous excitement; but there was no
to sell and the general market closed strong
at six O'Clock at the following OBSERVATION-DISCLOSURES
Mail, I2Sx 12sk; Ohio and Mississippi, 2s1 2oX;
Quicksilver 20 2oI; Mariposa, 0; do. preferred,
175s IS; Western Union Telegraph, 37k 37<;
New York Central 1881 a 1851; Erie, 4s;s 4S,4;
Reading, eek es%; Michigan Southern, s4I So;
Cleveland and Pittsburg, ssjs ssll; Cleveland and
Toledo 1O3s< 104; Rock Island 1o4 1915; North
western, 80 SOY; do. preferred, so,E sas1; Fort
Wayne, 111K 111x.
The foreign exchange market was dull but firm,
and the leading drawers again advanced their
rate for sterling at sixty days to 100. AT the
close bankers bills on England al sixty days
were quoted at 1854 a 100; at three days 1904