The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-06-24
FINANCIAL and COMMERCIAL.
Continued Activity and Firmness
in Stocks.
@ o L ID III 8 : 4.
Government Bonds and Railroad Securi
ties Generally Firm.
No Change in the Money!
Market.
WALL STREET,

TUESDAY. June 23-6 r. N.
stocks this morning opened win considera-
Bile exhibition Of strength the advance upon the
closing quotations of last night amounting from x
to per cent. This gain, however, was followed
by Q decline and again succeeded by higher rates.
which will be exempided hereafter. The chief
leader OF the rise was Lake Shore, which, under
tho influence OF what seemed to be largo pur-
chases, was at first marked up to 73h. Then the
report gained currency that there was GER
ftatnly to be Q dividend OF per cent In
August, whereupon the price was quickly
marked above "a, considerable excitement
attending this operation. From thts time onward
more or less Of activity was communicated to the
entire list, that the market closed firmly 1t Is
proper to add tnat the report concerning Lake
Shore dividend could not be traced to the fountain
head, but few days win place the question be-
yond dispute. There was less steadiness In the
general ma rket to-day tnan was exhibited yester-
day. and more anxiety Was manifested on the part
Ofinvestors who had been tempted to the street
TO study out the possible results OF the new cur
rency law. Opinions on the subject are divided,
and are likely to remain so until we have practical
results expressed through the bank statement OF
the next sixty days.
THE TRANSACTIONS
were large, as win be seen by the following fig
ures:-Westsrn Union, $3.50 shares; Union Pa
Ohio and MISSISSIPPI $500; New York Centra
$500; st. Paul. common, 1920; do. preferred,
140O Lake Shore, 9l,2oo; Hannibal and ST. Joseph.
1900; Erie, 2l700; Canton, 400; O., @. and l. e.,
900; Rock Island, 1900; Northwestern, $500; do.
preferred, 1900; Atlantic and Pacific preferred,
700.
THE MONEY MARKET.
Prices here are unchanged Money ts still freely
offered at and per cent. Notwithstanding the
D~ipH ouOyov
paper was discounted at Ak ana SIX per cent. The
foreign exchanges were dull on the basis Of 4.87H
4Ss for bankers sixty days on London and 4.9O
. 490k Tor demand. The nominal asking rates
remain at 4.ssH aud 4.9l Commercial sterling
continues scarce, and the few bills Offering COM
mand 4S5k 4.S6k. In Continental exchange
the business Is llgnt, but the market Arm; Reich
marks are quoted at 95X 90 for comm erciaI and
bankers; Paris francs, bankers, 5.l3a< 6.l5 for
long, and $40 a 5.ll for short.
GOLD.
The opening Of gold to-day was at liz, and for
time 1t seemed probable that the price would be-
come even irmer but later influences set In, to
which the figures succumbed, and we quote the
close at lllX. 1t Is probable that the ex-
1stng snort interest has been covered. and In the
absence OF any other promoting power there
seems to be no reason why the price should here
alter be greatly advanced. We have before said,
however. that, as between stocks and gold, the
latter was the best investment, inasmuch as the
loss upon it cannot exceed the pending valuation.
GOLD EXCHANGE BANK TO-DAY.
Gold balances. Observation-Disclosures. $996 500
Currency balances. OBSERVATION-DISCLOSURES. 1,132 $40
Gross cearances. Observation-Disclosures. 7,092. 0oO
CLEARING HOUSE STATEMENT.
Currency exchan ses. ................ $63 253 e67
Currency balances. 2.43l, 696
Cold exchanges. 1881 sos
Gold balances ACKNOWLEDGEMENTS. 456,63
The rates paid for carrying were q /, 8, IL, and
dnally 2 per cent.
RAILROAD BONDS.
There we're no new features OF interest in rail-
road bonds although the tone OF the market was
nrm. Chicago and Northwestern consolidated
gold bonds rose to So The latest bids were:-
hos + Ist m:;....2 q Clex.P new bds... s7,x
A l.