The sun. [volume] (New York [N.Y.]) 1833-1916, 1870-07-08
FINANCIAL AND OoHMERCIAL.

THURSDAY, JrLY Up. M.-The principal topic
OF discussion in Wall street this afternoon been
the passage OF the Currency bill, as agreed upon by
the joint Senate and House Conference Committee.
This bill authorizes the issue OF {5i,000,000 new
national bank notes; the retirement OF three per
cert certificates amounting 10 about Si5, 1000;
and the redistri b uton OF ts5, 10000 Of national
bank capital, taken from States having more than
their quota, and employing the in the
Southern and Western sections. II also provides
for free banking on q gold basis. The three
q cent certificates are to DO withdrawn only the
new national bank notes are issued, which viii be
o very gradual process. The establish ment OF the
new banks involves the purchase OF tixty millions
OF gold estbearing bonds to bank upon, while
the q cent. certificates must be paid for in green
backs. II will be remembered that come time since
the sum OF nny millions in legal tenders placed
in charge OF the Secretary Of the Treasury, to be
issued only for the purpose OF retirement Of
the Q q cent. Certificates, in case Of any
increased demand from any cause for the
cancellation OF these issues. The great question
is whether any portion OF these unssued legal ton
ders will be employed in the retirement OF the =
cents. II so used, the bill mcaus great imitation.
There Is also doubt but That those sections OF the
country which have been without banking facilities
viii, when the new banks are Organized, bring out
q large amount OF Ereenbacks and currency hereto
fore hoarded up, and practical increase OF circula
are held as a legal reserve by the banks Tor only
three. nfhs OF their value. Tue bill passed Today
iss$s Prss.sa, .%S sSsssasStis %Ss asiy ssdsf
% he lower quotations, though taere was rally u
Henry ciews 90. 50 Wall street report a,sPu.
mS: Asi.d = Bd; Asted;
Isl tssGsafts 80 sesS!l l .!sss
So: y; coup .,.iiis iHsStss SSSP Dr:iSa iGS
The gold market opened active and buoyant, 10 cor.
sequence of the waTlke Dispatches from LONDON and
bone Before the formal opening Of The Colo loom
@ decas nv cen ec,Sa " when
S ss g cm a4 "a MSS Rs' 4e
SETON which together with the passage ofthe Cur,
G nsye sd Gf ne loan s cS. goS
Rave asnca 'q ne mai 's9e c s SSaE Pa 70
il,usose was The steamer New fo.k sailed with
ssssf,nfs :, d. csi& EHehsSse Bsnk Ssrs .o!
ISL Tue principal quotations were:
IL iiC 4 T. tisP. Mile Hii SIS y naii I'D
EGss stsS' re SS sS s sH Hns s'Haa or one
sSs sae SSs oee .9F az FdS 40 Sa dc ,
iOE iong, and sitss.sl ~ loI sgls.
borrowers prime collateral being readily accommo-
dated at ard ' cent he movement q currency
| Gent amounts 10 create any auprche1aon OF
I'll, sa ssSf pape 81 o aaa sts e s s
at quoaLons leretolore made Ihe Assistant Itessa,
5.eOs the slnking iund 20 the amount OF o. lhO
a prices ranging from no 10 to llo5 ex interest. The
| award was made 10 Nermlye d Co; At 20.
| In State bonds speculation has been principally In
1cunrsecs and North Csronas. Or the nrst named tdc
Old bonds were steady at IS, the new advancing ~
cent .lo6i'.. Georgia Is being duh at Gk Old North
| tax bonds dccluing | cent 20 =. aud now South
CHrolnas, January and July, cent. 70 80 Missouri
6s were steady NJ yiA Alabama "a selling AZ 90, Rail.
yaH wafer qa2 Ny The oeSag were The Inc sss Of
| city bank shares; Continental u, ocean IN BANK OF
state o. " Yors 10 ofcpubnc 10, ana OF New York
| 1871. iaiway BOMBS were firm, Rock Island q cents.
selling u nTsts Of Dubuque and y ouN CITY ~, and
Central Paclhcs 0A, Unous falling on from ~ 20 ,ik,
with closing quotations at SiN@S, land grants IS. 30,
| incomes S4@sl, and stock Si4CS
during the morning houp, with desire TO realize
but az the 1 O'Clock call there was a rally aud
advance IA few OF the shares OF TO cent.
as compared With the early prices OF the day. a
Lake shore, Central and Hudson. OHIO and hissis
| stppi, Rock Island, NoTthweserns ana 81. Pau s.
On extreme quotations New York Central stock nuc.
sssGd eeiTs c sks .f sars t har va
Dasn 5G,tGs31. Pittsburgh, lOgAdiJyh Northwestern
eommou, e2lGR3k; the prefer "a. e%eS'H s.. Paul
IlnpI ASs&c New Jersey Central, iCsslosKj ,cx,
dividend, aud Rock I'lanf ii6S@ii1T leading
cent. equal to ios. Boston HsftftId ana Erie was
fell on TO il5h, the preferred selling at iNH MotIi,
and kAsex was strong al Soiand T. G. and g s'eay ai
2oa, small lot OF Panama ~; shares selling a. ~
STEADY al i%aiiT and Western usioh TELEGRAPH at
Delaware and Hudson Canal oid &C i.a oucksiiver I
Atlantic Mai 80 ana Cation G3b Express lharss were
United States &C. and Wells, Fargo, 4 Co. scrip ~
The general stock market closed strong at about the
best prlc1 Of the DAY. Quotations at I'm. were
AaNA