The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-01
The Gold Movement and the
Specie Exports.
The July Interest and the Ge.
neva Conference.
The Drift of the Money
Market.
THE DIVIDEND ON LAKE SHORE.
WALL STREET.

SUNDAY, Juno 80, 1872.
The heated term and the summer dunoss were o
happy coincidence for people In business, the ave.
rage American merchant being much too energetic
person to consult sanitary considerations when
the acquisition Of
THE ALMIGHTY DOLLAR
is held forth as temptation to his abors and In
dustry. Did Nature, by some freak reverse or
alter the conditions and seasons OF trade SO as to
demand its heaviest manual and bodily exer-
ton at this swelterng season. tho ex-
haustiOn, not to say danger, Of protracted
labor would have no tcrrOrs for our
business men, nine out Of every ten OF whom would
be found as earnestly devoted to his pursuits in
the braclng weather of fall, the balmy days of
spring or crisp frost of winter. The superabund-
ance OF
CALoRIC
would occasion his physical long before his mental
yielding. Some genius discovered the remarkable
fact that great rivers fortunately by great cities.
An attempt to felicitate the merchant and banker
on the happy coincidence OF heat and dulness might
subject US to reputation for equal genius, the
which we therefore make haste to decline. We
also about to throw in an exception for the banker
considering the fact that the
JULY INTEREST,
which is to flow so copiously into Wall street nom
a thousand different interest and dividendpaying
sources the ensuing mouth would tax his energies
more or less; but nowadays the machinery of the
banking business has been so nicely adjusted that
the handling of this great disbursement Of money
will hardly perceptibly increase the sudoriac ten
dency of any engaged in It,
THE SPECULATIVE FEVER
Is moreover in allegiance. The spirits that rung the
great changes on Erie and the dozen other activ-
ties OF the spring campaign are steambOating
it on the Rhine, touring 1t to Geneva and
junketing 1t generally over Europe, to the
great admiration and envy of the people there,
who are beginning to believe that the Americans
arc weather. as an average than the ''mila" Eng
ishmen who used to be their ideal OF patrons. At
the same time the season here at home has been
prolific OF outdoor attractions for the average
member OF and subscriber" to the Stock Board.
THE GOLDSMITH MAID, 49,
backed as she was by a special Stock Exchange in
terest in her latest achievements upon the turf
illustrates the tendency Of the speculative" and
sporting temperament Of so many dealers
in the merchandise of Wall street, whose
operations Invariably take as wide
range their means allow Indeed their
tastes grow with the cultivation which wealth
affords, and hence the progress Is not in a simple
but in geometrical ratio. For which reason it is
easy to understand why
THE GOLD SMITH MADE
haps quadrupled) as it has been by the good luck
that put him 'short" OF stocks just before the
Chicago fire, and long OF them just after that great
pivot of Wall street fluctuations, is 80 freely
lavished upon first class hOrsenesh and
devoted to the advancement of inter-
ests Of the American turf Robert Bon
ner, who specuated in the newspaper trade,
and Commodore Vanderbilt himself are other Illus
trations of the drift of money when the cacoethes
specu,dndi of its owner seeks an amusing occu-
patton.
with all the reason for an animated movement
that was offered In the beginning Of the disburse-
ment Of the July interest the settlement of the
dispute about indirect claims in the Washington
Treaty and the abundance OF money, failed to be
than dull prices being irregular, but the uc-
tuations being In few cases extensive enough to
prevent the market being termed steady. The wider
change was in Canton, which dropped five per
cent in face OF the reputed support OF Daniel Drew
and the numerous party who attended with him the
recent annual election at Baltimore. Erie, all
things considered was steady, despite the arrival
Of the
ATLANTIC AND GREAT WESTERN
party, the dispute as to who and who may not
vote at the election and other agitating questions
The only other features of sufficient daily ANNA
Pacific Mail and Northwestern, in which the specu-
lation has of late been bulsh as II they received
the latest expression of public sentiment as deter
mined by the final settlement of the question about
indirect damages. This latter matter also entered
into the influences affecting the speculation in
GOLD
and was instrumental, with the proponents OF the
July coin interest, In occasionng decline to 113.
BY Saturday, however, the sitter tone of the for
eign exchanges and the anticipation of heavy
specie shipments for the remainder of the summer
brought about reaction and an advance to 113T,
the upward turn naturally helping and In turn
being helped by sharp rise in
GOVERNMENT BONDS.
which touched the highest point Of the season. the
CTS being pretty active with sales at 1855. At the
close on Saturday money was quoted 4 per cent,
a relaxation incidental to the last day of the week,
but possibly the beginning of low rates throughout
the summer. Easy money markets seem to be the
rule at the leading centres the street rate In Lon
don being reported to be as low as "a per cent.
THE LAKE SHORE DIVIDEND
for the expired six months has been announced as
follows:-
dividend OF four per cent upon the common
stock OF this company Will he paid to the stock
holders on the LIST day Of August, 1872, at the Office
of the Union Trust Company OF New York. A divi-
the instalments actually paid In upon the scrip
certificates OF this company (the same to he COM
puted from the LIST day OF February, 1871 will be
paid to the holders OF such scrip at the Office of the
Union Trust Company of New York on the LIST day
of August next The transfer books, for both the
caDituI stock and the sCriD certificates.