The New York herald., 1869-05-29

The report OF the Gold Exchange Bank u as fol-
1ows:-
Gold balances. ..............."......... l,0yo006
Currency balances. 2,3S8v9s
The government market was strong. but without
excitement The 1rmer tone OF the gold premium
encouraged investment the demand coming from
both the foreign and domestic dealers The COM
parative steadness Of god the advance In exchange
aud the rise Of nvetwenties in London to 791l were
Inducements to the renewal Of purchases by the
foreign houses. CTS opened ut 122. upon which
there was advance Of u per cent ut the close OF
the day. The CTS less active. but improved to
the extent Of y q u per cent. 1t viii be seen by
our correspondence from Germany that the Legisla-
ture there Is discussing q proposition to tax all
foreign securities at the rate Of one per cent.
This Is the governmental action OF Prussia
answering the action OF the Bank OF
England Should the bill become law Its
effects would be felt in Frankfort Hamburg and
Lubec but not in Amsterdam, which does the largest
business in our bonds OF any OF the German or
Dutch cities. The Washington report OF Secretary
Boutwell's progress In reducing the national debt
produced considerable buoyancy In late street trans
actions the market closing with the following quo
tatiOns:United States skies, 1881, registered l20H
l2l; ;dO coupon 121h l21A; do. 1ve-twenties, regis
tered 116k 116h; do. do. coupon. 1862, 122k
i722K do. do, coupon, 1854, 116s 116zs; do do,
coupon 1866, 1Is,I 11sx; do. do, coupon, 1866,
new, 119,S 119H; DO. do, coupon, 1867. 119,f
n19K; do. do, coupon. $685. 119H l19k; United
States fves, ten-forties registered, 10sx 100; do
DO, coupon, 1905 1o9,s; currency bonds, 1861
q 107.
The money market was quiet and steady at six 70
seven per cent. The former was the rate on call
iioans with pledge OF government colaterals. On
ist0cks and miscellaneous securities the prevailing
iAgure was seven, but good houses were able 70
borrow at six where they made point of taking
2srge sums.
Foreign exchange was nrmer under better de-
.mand for bills, and rates advanced about IN
eighth per cent. The range Of quotations was
tas follows :-Steriing, sixty days commercial.
10sk a 10sX; good to prime bankers, foo
n lOoK short sight. lo9K 1lok; Paris, sixty days
,x.25 516A; short sight, 6.lok q 6.l3x; AnA
twerp. 5.2S q 6.l6k; Switzerland, 6.25 . Alox;
Hamburg, s5X q ssX; Amsterdam, aox Q >ox;
FRANKFORT 3sx 4ox; Bremen, Tx 7sk; Prus-
,Sian thalers. TON T1K.
The speculative proclivitics Of the authorities In
he different Southern States Is the source OF great
IDEAL OF nuctuation In their bonds. The following,
which is from the semoffical organ OF tho dominant
Darty In Tennessee may or may not be entirely
hruthful according the present speculative posi-
tion Of the Tennessee authorities as regards their
own bonds:-
July win have to be all borrowed. The semi annual
interest TO be provided for Is about ST. 600 The
aining $4,000 must be provided for either by laws
by taxation. Not one railroad In the hands OF re-
interest To- be provided for; the railroads ought to
pay something over $500 900. Instead or this they
provide about half that sum- The militia VIII cost
The State about $780, 900. or TINS sum $50 900 has
been borrowed in New York. The taxes this year
Twill not bring any money into the treasury until
after the July interest becomes DUE so that some
heavy borrowing viii have TO be done II the July in-
terest to be paid time. The schools have taken
bver 100000 since August last. The current cx:
the fall.
Southern securities were weak for the new Ten.
nessees which dropped to 03K on the assertion that
The fnterest would not be paid. Alabama eghts sold
down to par. New North Carolinas were shade
better. The general list was steady. The
following were the closing street prices -
pTennessees ex coupon, 67k 6s; do. new,
e4k 65; virgnias ex coupon, 81 67h; do. new, 90
. 81; Georgia skies, 81 SO; do. sevens 95 90:
North Carolinas ex coupon, SO 69k; do. new, IS o
s5k Louisiana SKIES, ~ "a; do levee skies, 0s .
oslI do. levee eighs, ss SO; Alabama eghts, 100
101; do. fves, 81 O 6s; City OF Memphis skies, "a
64H.
The stock market opened with great buoyancy
under q continuance OF the bullish influences pre-
dominant at the close OF the previous day. The
demonstrative, which fact did more to discourage
the 'bus, than q vigorous counter-movement and
prices began TO settle again, the market becoming
dull and quiet THIS period OF hesitation ana inde-
cison was followed by an afternoon Of considerable
animation in the Lake Shore and Michigan Southern
btocks the latter advancing from 100 to and closing
at il3k It Is supposed that the Vanderbilt party
are buying It IN furtherance Of the plan
of consolidation OF the rallSa interests
Between Albany and Chicago. In this con-
hection 1t Is curious that Hudson River and
Harlem are weak. The fact arouses the suspicion
hhat Mr.. vanderbilt Is selling his stock In those
roads or large portion OF it. to enable him TO enter
upon the possession Of the Michigan southern, which
is the key OF the Chicago connection. lie is NOS a
Crmsus. His funds arc not illimitabc, and 70 DO
thc latter he must part with some OF his vast pro-
perry In stocks Erie advanced to 2ok, much to tho
disgust OF the bears who bought puts' at 20, when
expire this week. In the recovery Of the market
this afternoon Ohio and Mississippi advanced 70 sl,1
and the railway list improved from one TO three per
cent New York Central was quoted exdivideud amer
the second board the Injunction restraining the pay
nent OF the interest on the scrip having been FORM
ally removed Yesterday, although the acton Of the
Legislature had really done 30 some time since. The
amount paid was % 20 on each hundred shares Of
original stock-the equivalent Of four per cent on
eighty per cent thereof Fort Wayne sold "a high a.
1917, bat In the absence OF further news OF she
terms on which the scrip dividend viii be issued,
declined 10 l5sk. Tue directors OF the Chicago and
Northwestern abroad have issued 1900 shares OF
new preferred stock 10 represent the cancellation OF
m equal amount OF ten per cent bonds. While the
market price was lot they bought II m at l0s with
thirty days option. The notice Of this increase
viii be given tomorrow at the Exchange to render
the new stock good deliveryn at the end OF the
period of option. Canton Western Union and Mari
posa were strong but the express stocks were very
heavy. OF the miscellaneous list Pacific Mail was
very active recovering four per cent upon the