The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-07-27
NONEY EASY,

The heavy realization in stocks and decline In
prices during the past few weeks have afforded bor-
rowers on call better supply OF funds To-day the
rate for money was unusually easy ana before the
close OF banking hours large amounts were offered
at four per cent. The stock houses In tho earlier
hours OF the afternoon were freely accommodated at
i've per cent. The government dealers were supplied
at three to Eve per cent. Commercial paper shows
the disposition OF buyers to purchase at rates
which will compensate for the expected activity In
money next FALL Hence there are no transactions at
less than seven per cent and the rate for prime pa
per ranges from that figure to eight per cent.
FOREIGN EXCHANGE LOWER.
The dealings in foreign exchange are OF course
confined to sterling ana francs. Sterling was lower
for sixty day bills but strong for sight. The follow
ing were the quotatlons:-Sterling, good to prime
bankers sixty days, 1921 1osX; d., short sight,
1lox 11oa<; Paris, sixty days, 514s 5l3X; short
sight, $40 5.osX.
STOCKS WEAK AND ACTIVE.
Despite the easier working of the money market
stocks were heavy, and as the day progressed be-
came actively weak prices OF tho more prominent
speculative shares falling two to three per cent The
tendency Of the market surprises the "bears" them
selves, who hardly expected so large decline IN
season Of easy money ana when STOCKS are usually
strong and buoyant The war In Europe checks specu
ation for rise by destroying public confidence, and
prices ore recedng gradually as If stocks had tho
dry rot Were 1t not that some OF the cllques are
under the necessity OF buying in hopes OF checking
the downward movement the descent would be
much more rapid. There was somewhat OF sensa-
tion In Reading at the last board where about 900
shares OF the stock were sold under the rule" 1t
is said that misunderstanding arose among some
Of the operators for rise as to who should take
care Of the pool STOCK and that the refusal OF
house to receive returned stock that had been Dor
rowed the party carrying 1t threw 1t on the market
OF course the owners OF tho stock took care OF 1t
when sold "under the rule" that no stock really
changed hands. The weakest shares were Lake
Shore and New York Central. The former sold down
to &c. Central stock touched cox and the scrip sSk
Harlem sold at 100. In the miscellaneous railways
the feature was Panama, which broke to SO. About
six months ago this STOCK sold freely at 2Oa The
following were the closing prices at the last session
of the Stock Exchange:-CantOn Company, SO; Cum
berland Iron, 40; Western Union, sax a "a; Quick.
silver, 4 bid; Marlposa, OK; do. preferred, 10
1oA; Adams Express, o4h 65A; Wells-Fargo
Express, 10 AK; American Express, q
43X; United States Express, 43 432<; Pacific
Mail, 40 q 4O1I; New York Central consolidated
ok 91h; do. scrip, SIX bid; Erie, 20 a 21x;
Harlem, 13oXa 1921; Reading, 93,l to o3X: Lake
Shore, s9A s9I; Illinois Central, 127H 129H;
Cleveland and Pittsburg, 105; Chicago and North
western, SlA Dld; no. preferred, S4A S45s; Cleve-
land, Columbus. Cincinnati and Indianapolis, 81;
New Jersey Central cox o 100; Rock Island, 1l2H o
1121 Milwaukee and st. Paul, 69h; do preferred. rs
75x; Toledo, Wabash and Western, 4sA ASK; do
preferred u bid; Fort Wayne, Ok bid Chicago and
Alton lis 115x; OHIO and Mississippi. 333s q 33X;
Delaware, Lackawana and Western, 1o4X 1867;
Morris and Essex So ssk; Hannibal ana st. 10.
seph preferred, IFS; Columbus, Chicago and Indiana
Central, 16]a 16sl.
HIGHEST AND LOWEST PRICES
The following shows the highest ana lowest prices