The New York herald., 1869-06-08
FINANCIAL AND COMMERCIAL.

MONDAY, June r. NJ
Tbe depression OF the stock market, which began
last week with spirited bear attack, eliminated to-
day In very sharp decline In the railway list and
heavy drop in many OF the miscellaneous shares.
The bulsh feeling seemed to be entirely without
force except for brief spell in the earlier portion Of
the DAY, when prices were comparatively steady.
The bear feeling on the contrary, was contagious,
and the lack OF elasticity in the market this morning
conduced to spread it, The lines which marked the
division of the respective forces constituting the
opposing parties Of Wall street began 10
become ndistinct as one after another OF the
prominent cliques began TO sell long stock,
II they did not also 60 'shOrt." AS
the hour approached for the closing OF the Long Room
the deserion OF the bulls to their opponents ranks
gave the latter an overwhelming prestige and en-
abed them to utterly rout the remnant OF their ene
my's forces The decline was as much as three TO
six per cent for the leading railw ays 1t was not
accomplished all at once Each yielding OF one or
two per cent was followed by reaction, and the
process was repeated at each stage OF the downward
movement. AT the lowest period OF the day
Rock Island touched 1ls4, Michigan Southern
loeh, St. Paul 754, PittsDurg, e5H, North
western common 90I, New York Central 1SS
and Fort Wayne 1856. The market rallied
at the close from half to one and a
half per cent. The decline was assisted
by the comments upon the unfavorable charac-
Ter OF the bank statement OF Saturday last,
and anticpatons OF approaching greater activity IN
money. The transactions in the stocks first emu
merated above were on very large scale, and the
scene in the Long Room during the afternoon was
one of great animation If not excitement. The fol-
bwng the closing prices OF stocks at the last
board:-Canton, 641z a 6554; Boston Water Power,
II a 17]4; Cumberland, "a a SO; Wells-Fargo EX-
press Sl4 a 3l7s; Adams, 591a 5s7s; American,
3s}1 1884, United States, 671S 67&; Merchants
Union, 14& IS; Quicksilver, l5h o 10; Pacific Mail,
IS a S3h; Western Union Telegraph Al 4 Al i; New
York Central, 1873 l9l4; Mariposa preferred 4oA
q 464; Cleveland Columbus ana Cincinnati, rs;
Hudson River, 1914 1914; Harlem preferred,
$50; Reading, 90; Alton and Terra haute
IS a 40; do. preferred, 5sh q co; Toledo
and Wabash, 744; do. preferred, so o So; Milwaukee
and st. Paul, 76t II; do preferred, s74 s72l;
Chicago and Alton, l55 bid; do preferred, 157 y bd
Ohio and Mississippi, SS2s s4 Fort Wayne, 157 a
1874; Michigan Central 1905 a 1915 Michigan
Southern, l124 1l21s; Illinois Central, 14S1s 145;
Pittsburg s99s 9ess; Lake Shore, l12A a 112H;
Rock Island, l1eH 11s7s; Northwestern, s21s; do.
preferred, 1885; New Jersey Central ll75a HIS;
Morris and Essex s2 90; Hannibal and st. Joseph,
i2S1a 1251l do. preferred 125 12s; Chicago, Co
lumbus and Indiana Central, 42ss a 49,.
The money market in the earlier hours OF the day
was more active than usual for some weeks and
seven per cent was freely paid all round. The in
quiry seemed TO be easily satisfied for theve was
less demand towards the close of banking hours.
Commercial paper was without new feature and
steady at the quotation to sH per cent for prime
double name acceptances. Foreign exchange was
quiet and firm at 1o9s for prime bankers sixty days
and 11o14 for sight sterling.
The following were the bids for the city bank
r4a ttn
haitian, las; Merchants, 127; Mechanics 1S5;
America 14s; Phenix 112; Tradesmen's, 145; Full
ton, 16O; Butchers and Drovers 14O; Mechanics and
Traders, 125; National ILL., Leather Manufacturers,
$50; Seventh Ward 112; State OF New York, 11214;
Commerce, 12s; ocean, 107 American Exchange
n4; Chatham, 16o; Bank Of the Republic, 12O;
Hanover, 112; Peoples, 143; East River, 1o4; Mas
sau, 104; Corn Exchange, 1870; Continental 1929;
Marine $50; Central National, us; Fourth National
1o1; Ninth National. 1le; Gold Exchange, 14o.
Governments were very steady all day and shared
none OF the fluctuations Of the railway list. Prices
seemed to disregard the activity OF money and imi-
tate the steadiness OF the London quotation which
was soh. The Washington riot seemed to have no
effect upon the market which closed with the follow
ing prices:-Unted States SKIES, 1851, registered
1l7k I171s; do, coupon, 12l% 122; do. nve-
twenties registered, III 1l74; do. do. coupon.
a 20
17l; do. do, coupon, 1855, 1lslS 11sa. do. do,
coupon 1896, new, 11s7s l2o; do. do, coupon,
1867, l19x 100; do. do, coupon, 1865, 11ex
100; United States ten-fortles registered, 1857
1osX; do. do, coupon, 1895 a 1o9;.; currency
bonds 1o7 107H.
southern securities were pressed for sale and sym
pathized quite closely with the stock market The fol-
lowing the closing prices at the last board-Ien-
nessees ex coupon 675a; do, new, "a 64A; Virgin
las, ex coupon, SIX bid; do new, 61x 81; Georgia
SKIES SO bid do. sevens 965s; North Carolinas, ex
coupon 90 a COS; do, new, 56I 567s; Missouri
skies ok 9l6; do, Hannibal and ST. Joseph, 90
bid; Louisiana skies, "a; Louisiana levee skies. &C
eo1s; do do, eghts, Sc a ss1s; Alabama dyes, G7;
Alabama eights, 100 a l00H.
The earliest operations IN gold were on the 'buH"
side Of the market under which the price up to
139. The "bearsn seemed to grow stronger at this
stage, while many Of the "bus' became indifferent
and the price underwent relapse to 1881. Other
wise the market was without feature and closed
dul, the Stock Exchange attracting the general
attention OF the street. The range OF the price during
the day is shown in the following table,
1oA. ............. 1881 2P.M............. 1Ssal
1906 A. M.......... 1893 3P M............. 1881
l0.l7 A NJ 1857 3.0l r. M........ IgSsL