The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-07-20
FINANCIAL AND COMMERCIAL.
MONDAY. July 49, M.


The excellence OF the bank statement and the ease
In money failed to arrest the dropping tendency OF
the stock market, and prices the first day closed
lower than at the termination OF business on Satur
day. The fact Is, the leading operators and specu-
lators who were in the habit Of sustaining quotations
by their very presence out Of town. and also out
OF stocks: for they have sold and gone to the water
Ing places and seaside to enjoy the profits. There
was good deal OF buying to-day, the marker being
rendered somewhat animated by the presence
OF dealers whom the inclemency OF the weather
kept In the CITY, but there were also steady and nu-
merous orders to sell, and the result this evening
shows large decline from the morning prices.
These observations are reserved from the Wander
bilt shares which moved independently of their fel-
lows on the stock ltst but they irregular
ntrul and generally heavy, New York Central OPEN
ing at 2l3,S, falling to 210 reacting to 2l2A and
closing at 21Ox. Hudson River nuctuated between
1874 and 1872 Prominent in the decline were the
Northwest stocks, which touched 7S% for
the common and 931 for the preferred Rock
Island, which yielded to 113H, and Michigan
Southern, which touched 1O44. Fort Wayne was
firm, and ST. Paul comparatively steady. In the
miscellaneous list Pacific Mail was feverish fuctu-
ating between 82zs and SIZE, while Western Union
was strong, opening at SO and selling at 363s. The
express stocks were irregular. Adams and Wells
fdr8O were weak, Alnerlcau 6teduy buu Uultcu
States and Merchants Union strong. The following
were the prices at the LOST session of the Stock Ex
change:-Canton, 3d. Boston Water Power, Is q 15X;
Cumberland 81 SO; wes-Fargo Express. 21%
bid; Adams Express. 696 a 595S; American Express,
al 42H; United States Express "a; Merchants
Union Express 9A bid; quicksilver, 15'4 II;
Pacific Mall S2A a S2zs; Western Union Telegraph,
36H 81; New York Central, 211h Elk; MARI
posa, o. do. preferred, lax 1917; Hudson River,
1874, cash; Harlem, l44; Reading, 93n 9S|4; Alton
and Terre Haute preferred, 5s go; Chicago and
Alton, 159H 100; Toledo and Wabash,
73H; do. preferred, II 70; Milwaukee and
st. Paul, 7ess II; do. preferred S6H;
Ohio and Mississippi 317S 80; Fort Wayne, 1885
1887; Michigan Central, 1872 1927; Michigan South
ern 105 a 1O5X Cleveland and Pittsburg, 1861
los; Rock Island, 1l41S 1l6; Northwestern, 1917
79hs; do. preferred, "a bid; New Jersey Central
lOOX 1O14; Hannibal and st. Joseph 1861 1891;
do. preferred, 1241s a 1875; Columbus. Chicago and
Indiana Central, SO bid
The first call this morning was interrupted and
suspended on the announcement of the death OF Mr..
E. P. Gibson, late member of the Board. After APP
propriate resolutions the Board took recess to per-
init its members to attend the funeral.
report was current late this afternoon that Sec
rotary Boutwell, intended resigning within few
days and that Freeman Clarke would be his success
sor in the Ca binet.
The money market was abundantly supplied at
seven per cent on call, with pledge Of prime and mis-
cellaneOus cOllaterals. There was unusual demand,
but balances were not pressed for engagement. On
prime coaterals there were the usual exceptions at
six per cent Commercial paper felt the change
more sensiby. and under better inquiry the range
OF discount rates for prime double Names at sixty
days and four months, from eight to twelve per
cent. There was good deal OF currency at the in.
termedate figures.
Government bonds were strong, and at the first
board sold the highest for some OF the issues ever
attained. The London quotation (S21s, the ease IN
money and the nrmness IN gold all contributed to
produce this result. Afterwards the market became
heavy with the decline IN gold, but reacted late in
the afternoon closing steady and dull at the follow
ing prices Limited States skies, 1881. registered,
I2OX 1911 do. do, coupon, 1904 49, do, i've
twenties, registered, 12l% a 1919; do. do,
coupon, 1862, 1885 l232s; do. d. cou
pom, 1854, 1914 122; do. do, coupon. 1855,
l2lX 122; do. do, coupon, new, 1865, 1904 u
1908; DO. do, coupen 1867, 1908 12oA; DO. do,
coupon, 1868, 1909 1905; do. ten-forties regis
tered, 1O9X ITO; do. do, coupon, 11Ojs 1lO%;
currency bonds, 1917 los.
Southern securities were dull for the general list
and weak for the new Tennessees and new North
Carolinas again. Vrglnas we're only slightly az
fected by the announcement that the State would
not pay the July interest before next January the
street doubling the press despatch on the one hand
and the recent election being regarded as certain to
improve the States credit. The following were the
closing prices at the last board:-Tennessee, ex
coupon, 81 o 62H; do, new, SO 55H; Vir-
Cinias, new, 81 62; Georgia slxes S3H bid;
do, sevens, 9aX; North Carolina, ex coupon,
81 So; do, new, 45jk; South Carolina, new,
q. IOui "a
skies, 60 o 90; do, levee skies, 65 81; Alabama
eights, 90 a95.
Foreign exchange was quiet at the following range
of Notwithstanding, sixty days, CONNER
clal. 1O9I a 1O9A; good to prime bankers, 1927
1lOh; short sight, 1101S 1905 Paris, sixty
days, 5.lsA SHY; Short sight, 5.121S a 5.10ss;
Antwerp, 5.1sA 5.12H; Switzerland, 5.lsA 5.121s;
Hamburg 35I q SO; Amsterdam, 40I 40x;
Frankfort, 4Ok a 4OH; Bremen, 7S1s 1914; Prus-
sian thalers 7O6 a ~.
Gold opened strong the "bulls" making sortie
which put the price as high 1861, but 1t subse-
quenty declined to 1855. great deal of mystery en-.
shrOuds the market and operators are sorey puzzled
to know how TO take it. Exchange is 1rm but arti-
hcially so yet gold shipments are light as compared
with those of this season in previous years. 1t Will
be remembered that the first report OF the specie
shipped by the City of Boston on Saturday was
$245OO0 then the amount increased to $434 $50,
and at the last moment to S5s4,750. The last ship
ment of 100000 took place after the official report
was made to the Custom House, that 1t does not
appear tnat weeks total of the exports OF specie.
1t Will appear In the statement OF next Saturday.
The Allemannia had $1,000 engaged this afternoon.
although the line is not such favorite either the
Cunard, French or Imam for specie shipments. The
disbursements OF coin interest to-day amounted to
s467s24. The course Of the market Ii shown in the
tablet
1oA. M........... 1861 1P M............. 1864
1880 A. M......... 1864 1852 p M.......... 1853
IL A. M.........".. 136k Up. M............ 135sl
12M............... 1861 3P M............. 1861
A