The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1870-07-01
TREASURY OPERATIONS.

The government bought two millions Of hvetwen-
ties to-day, thus closing the programme of Treasury
operations for June and for the fiscal year. At the
gold sale on Wednesday the bids were for total OF
g. 900 900 at prices ranging from Ill to II156 The
awarded lots were as follows:-s25, 900 at 11I.52
$500 at 11l.56 $780, 900 at 1ll52 500 l153
100000 at 111.54 $780, 900 at 111.55, 100000 at
l11.ss, $4,000 at 111.55 $4,000 at 1l54 $4,000 at
1l1.53, $4,000 at n152, $4,000 at 1l15i $4,000 at
1l55, $4,000 at 111.54, $4,000 at 11153 $4,000 at
11152, $4,000 at 111.5, $4,000 at 111.5 $4,000 at
1ll.51 and $4,000 at 111.51.
GOVERNMENTS STRONG AND ACTIVE.
The large purchase OF bonds by the government to-
day and the comparatively light olierings-the total
being $685. l00-accompanledb by the general impress
sion that the July dividends will seek renvestment in
the same class Of principal led to active and strong
market for the various issues Of government securi
ties, which rose average OF about five eighths per
cent, particularly as bonds In London came
| higher-9oa-and gold was firm and advanced.
The following were the final street quotations.
United stet.vs Currency Skies, .,a 1. ia; do
skies, 1851, registered 1i4,l us; do do, coupon
11s llsN; 81 qys.twentes, registered nay and
November, flljz . va do. ool 1882, coupon, do,
illM 11a1S; do. do, 1884, do do, .'17i ny; do.
ao.' 1868, do do, 1l17s l12% do. do, 1885, oapon
S"nuary and July, Has lax; do. do, 1857 do do
do. ten-forties registered, 1os 1881; do do, cou
pom, 1857 1885.
STOCKS STRONG AND DULL.
The sequel to the currency bill agltatIon-viz the
appointment this morning OF new committee com.
prising majority strongly favoring an increase Of
the curreEcy-naturally led to better prices at the
early board and In the early business of the Long
Room. Later in the day the Lake Shore Injunction
matter disturbed the marker, and as New York
Central and Lake Shore each receded about three.
quarters per cent there pressure to SELL which
led TO q decline all around. There was also some
slight and temporary uneasness concerning the
Funding bill, which was before the House this after.
noon, with the prospect Of speedy action AS 1t
proposes thirty-year four per cent bond Wall
street has III general ceased to be afraid Of It, The
revival OF the bill fails to create the despon-
dency brought about by the original measure
for the reason that In financial circles the
impression exists that the transforming OF the Old
debt into the new, should the bill pass would take
place very gradually and without any monetary dis
turbance. Toward the close the market reacted
from this decline, and closed strong and buoyant
but duh. The "bulls" are again buying although
endeavoring TO conceal their designs. Naturally
they desire to buy cheaply as possible. When
last May the clques unloaded their stocks and went
Short" we recorded the fact and have since faith.
fully chronicled their doiugs. During the present
week they have forced prices down from 3 to per
cent In the effort TO cover their "shorts.n They
are now buying IN expectation of most remarka-
bic "bul" campaign hence to September or until
the money market grows stringent and signal
izes the time for another 'bear', campaign
Meantime money will be drug In
Wall street. WORTH 1t will be, only
two per cent OH call, bankers anxious
to get seven per cent, Will carryr stocks at market
rates for the clques and thus enable them 10 carry
out their plans. The movement Will begin in the
most natural manner from genuine causes Tor rise.
The interest, DIVIDENDS and like earnings and PROFITS
which will be paid out on and after July /, Will seek
dividend-payng securities. The latter Will, Of
course, advance, and in their rise will carry up
everything on the stock list, good ana bad. The
summer is therefore likely witness wild ''bun
speculation, particularly the currency is likely to
be legslaed upon only IA favor OF expansion and
imitation, while the Funding bill at It's worst is harm
less. The Reading Railroad Company have declared
of tax, on both its preferred and common stock
payable on the 22d Of July, to holders they stand
registered on the books of the company on July l.
There is nothing positively known as yet concerning
the dividend on Hannibal and St Joseph. The pre-.
ferred shares according to the terms Of their creation
are entitled TO per cent out OF the earnings I'm
advance OF the common. The following were the
closing prices at the last session OF the Stock Ex-
change :-Canton, 60; Cumberland, 40; Consolidated
Coal 80 a 81; Western Union, 341 347E; Quick.
silver, Z 10; Mariposa, So; do. preferred l5x
1873; Atlantic Mail, so a 81; Pacific Mail, 4O9l
4oH; Adams Express, 6S a 6s1s; Wells Fargo Ex-
press, 10 bid; scrip TX 81 American Express, n