The New York herald., 1869-07-08


The government market was very sensitive TO the
decline in gold. and sympathized very closely with
the movements In the premium. The first expecta-
i,ons were favorable, owing to an advance In Lon
don to slss; but the activity in money, combined
with the weakness in gold, LED a sharp decline at
the noon board, particularly when the '62's
offered as i2lH and the '67's sold at 16. The mar
ket was subsequently rallied by the report that the
secretary OF the Treasury intended purchasing more
bonds; but the confidence of the street was not
easily restored, and prices Jailed to react
with the recovery in gold, the market
closing with the following street quotations.
nted States SKIES, 1881, registered 1l6I bid; do.
DO, coupon. 1l57s III; do. 5-2os, registered,
~ il7}; do. do, coupon, 1867 1915 I2Iss; 40.
DO, coupon. 1864 117ja a 117s; do. do, coupon,
1861, iiSS llsss; do do, coupon new, 1865, l16<
ii63a; 'o. DO. coupon, 1867, 1861 1166 DO do,
coupon 1865, ilG4 lle9s do. 1o-4o's, registered,
1917 q 1885, do. do, coupon, 1O7A los; currency
bouds. l03 II 106 4.
In Southern securities the new North Carolipas
were weak and pressed for sa!e owing TO the issue
OF large number Of new bonds to the Western
North carolina Railroad Company, dated April /,
1889. Tcnncs ees were more steady, anu In some
quarters there a feeling that the interest would
ne paid up, the railroads would be forced to
iquidae their Indebtedness to the State. Louisiana
eyec bonds are higher for the skies, but eak the
eiehts. South Caronas were weak under numerous
sales. somc suspciously like "washes." The whole
market was heavy, however, in sympathy with
tine general course Of the day. The follow
nag were The closing prices OF the Southern
lst:--TcDnessec. ex coupon, 6lls a 62; do, new
81 57i4 do. dve per cent. SO bid; Virginia, OK
coupon, Is d 81; do, new, 6l G:: do, regis
tered STOCK 30 j0I; do, registered 1866 81 57H;
oo., registered, 1861 55 55e Georgia SKIES 81 So;
do. seveps, ~ "a: do. scvens, interest payable in
Georgia 90 9i; North Carolina, ex coupon, So a
81: DO, new, 40 q 4olS Missouri sixes SO q ssH;
do, hannibal and ST. Joseph, 90 II 82; Louisiana
sixcs CD 20; do. lcvec sxes 81 GS; do. do. egh,s
"A: Alabama eirhts o. a 9S; do. fves, Gs d5:
dc. sixes. stcrlng, 90 95 South Carolina SKIES, 90
s"' 90. new, "A o6; do, registered stock. 81 a es
City of Memphis sIxes 81 "A 81; do. Atlanta eghts,
10 SO; do. Gayannah scvens, ol 02; do. New
Orleans consos, " 74 do. do, issue railroads 6s
70 Mobile and OHIO stcrl,ng 85 0; do. eghts IS 60;
Mississippi Central Railroad first mortgage, " "a:
do, second do., 90 90: Memphis and Charleston
ntst mortgage, 81 S5: do, second do, 70 "a: do
STOCK, AZ q As; Greonville and Columbia Railroad,
guaranteed, 65 u 81.
The following were the bids for the cit, bank
stocks:--New York, l34; Mechanics, 1876: America.
lii; Tradesinen's, 150; Mechanics and Tradcrs'
i25: leather Manufacturers, $50; Seventh Ward
ll"' S'dtt ui new NOrk, III, commerce, i21is:
ocean. 90; American Exchange, ia; Chatham, I5e;
Bank OF the Rcpublic, l2i; Metropolitan, 1877: Mar.
scl, la5; shoe and Leather, 1873; Corn Exchange
l3S: -. Nicholas, Ild Commonwealth, Il5: In
porters and Traders. 13l; Park, 1856; Central Ma.
l,nai, iJ9; Fourth National, 1O1: Ninth National,
lI0lS; Gold Exchange, 1856.
Mr. Emerson W. Keyes Deputy superintendent Of
the liank Department at Albany, has prepared
elaborate reply to, or rather review Of the opinion
oi Attorney General lIoar concerning the dissolu-
tion OF national banks and their reorganization un.
der The laws of the state. Having quoted the act of
1856. ne says:--
u is clear that In the foregoing sections Of law the
Lcl.tsaJule OF TINS state assumed 10 exercise no
piprOlatvea whatever over or concerning banking
assocat ons established under the provisions OF any
act of Congress. Whatever IN the title nilynt by
possibly iuauvertcnt use Of terms, seem to fore
shadow such purpose s eiiectnaly corrected In the
acl Itself when recognizes first, the, existence OF
~ iOnnl baking associations under the laws OF
Congress; second, the authority conferred by
tdc-u laws, whereby these associations might
time bo dissOved third dissoli.
tion absolutely effected pursuant TO such
powers and privileges upon the members OF sucn
nnincorp0rate or dissolved ORGANIZATIONS The leg.
Lsnturo SUGGESTS no conflict OF authority passes no
Judgment, promulgates no tncory OF statutory con.
s'iuc'on, expresses no opinion medI'aes no con-