The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-31

Erie was dull, but the few tranactions embraced
large amounts, one sale comprising l.6oo shares
There Is a disposition to hammer the market after
the recent advance. With reference to the move
lnent on the part OF the enemies Of Erie to keep it
from the Stock Exchange, article third OF the con.
stttution provides for the call OF any Stock regis.
try OF which IL kept ''n some responsible bank
trust company or Other satisfactory agency.n Under
she head of "Fisk's Latest" the Port Jervls Goze,.e
says
Arrangements have been made to consolidate the
Lake Shore, Michigan Southern, ana Toledo and wa.
bash Railroads Inc new COMPANY Will be known
as the Lake Shore and Michigan Southern Railroad
Company, and Will control 1880 miles OF railroad
reaching from Buffalo to Chicago, and from Buffalo
to the Mississippi river at Alton opposite st. Louis
Negotiations are IN progress TO form o close alli-
ance between this company and the Erie Company.
One Of the features OF the proposed compact is an
agreement made bg the Erie managers 10 Law down a
third rail for narrow gauge track on the whole
length Of their road between Buffalo and DunKirk
and New York city. This win change the Erie from
broad to narrow gauge road, and, beside saving
the cost or operating the road, Will give Erie close
and direct connection with the Union Pacific, with
no change OF cars between New York and San Fran
cisco.
In foreign exchange there was very little doing,
and brokers at loss to comprehend the extreme
dulness OF the market. Usually at this season the
demand for bills Is quite active from the importing
merchants but the business has almost entirely fallen
away this season. The imports have been heavy last
week reaching seven millions, and hence the mys
terry. The quantity OF goods IN bond and unmark
cted is very large. Then as a large proportion OF
the goods which have arrived here has been
sent as speculation by foreign merchants,
and not brought BY own merchants the figures
of the imports represent larger sum than must be
RENTED by bills, the proceeds Of sales going hack
In government bonds and other fsvorite American
securitios which md q ready market in Europe.
Again. the summer trade in dry goods has been dun.
For sterling the rates were l09K 1o9ii for sixty
day ana 1o9x ITO for sight bills. As TO the real
lation of the imports and exports It appears from ad
vance sheets of the report Of General Walker Of the
Bureau OF Statistics for the month Of June and the
sca year ending with June, that the total value OF
dutiabe articles imported for the year ending June
% was $685. 500 against $342 $50 last years the
value Of articles free OF duty was s4a7 liz this year
ana s2s s7s, 1A last. The total export OF domestic
commodities was s4is.sesIs2 for this year and
S454Sol 71s for last or foreign commodities re-ex-
ported, the dutiable articles were valued at
40 481 202 this year and $l14ss43l last, while Of
those free OF duty the figures stand si692 965 this
year and $40, O9,oO7 last.
The instructions Of the Assistant Secretary Of the
Treasury to the Assistant Treasurer here to con-
tnue the purchases of bonds and the sales OF gold
IN September, according TO the programme OF
August led to strong and buoyant market for gov
ernments. 1t happens that the 1st oil september falls
on wednesday and The 3oth on Thursday. There
will therefore be i've extra purchases of bonds and
three sales OF gold during the month tine programme
of which was posted al the Sub-Ireasury to-day, as
follows
The Treasury will continue the purchase of one
million OF bonds for the account OF the sinking fund
on alternate Thursdays during the month OF Sep
TENDER; also the sale OF one million gold On alternate
Thursda,s In addition to these purchases OF bonds
for the sinking fund the Treasury Will purchase TWO
million OF fve-twenty bonds each Wednesday during
September to be ned subject To the future action 81
Cnnpress. The nond pnreha5es VIII be-