New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-06-30
THE MONEY MARKET.

FRIDAY. June Goth, p. m.-The openingto-day was
marked by some hesitation and fractional dechne
from the prices of yesterday. This was soon succeed
ed by n wild buying during which Central aud hud-
son sold at 81 Is Lake Shore at 1915 81 faui pre-
ferred at L. and Western Union at 50is, the stocks
named being the prime iayOrtes. After TINS eXhioi-
ton of pluck the market subsidized into duness ana
a reaction set in Later this was partially checked
by brush in the coal shares, which suddenly grew
bitter on the announcement that the Delaware,
Lackawanna and Western Company had authorized
an issue of Sl0,000,000 mortgage bonds. OF 'hese
81 500 900 reserved to pay oil the present bonded
debt of the company, and the remainder - ,2OOOOo
arc for purposes not stated, but presumably for the
payment of loans recently created, through the aid
of which the company mas been enabled TO pay lis
rentals for the past twelve months. This fact viii
strike the average mind a curious reason for buy
ing the stock. Nevertheless its first effect was to
send the price of d. L. & w. from 3tl2 to SO and
Morris and Essex from 5Sli to coll. This for \
moment stocked the general list and improved
prices. But a second sober thought, showing that
the necessity for the mOrtgaging of property was
not for appreciation of the propretorship
let the prices of these stocks drop off about Ia per
cent and tho entire list closed saggy and demoral-
lied.
There sales at the early board in Baltimore OF
small lots Of Baltimore and Ohio stock at o. 10 93ia
but the second board the price nominay about
% with no sales. Government bonds firm ON q
moderate demand, though there was no new feature to
the market The Greenwich savings bank to-day sub
scribed for h million new per cents, and subscrip-
tons are said 10 De coming ia freely . 80
In state bonds Missouri 81 of 1877 sold at lob, and
North Carolina funding act OF 1860 at 10.
In railroad bonds Rock Island curitics were active
and strong Is to Ill., ami Is OF 1907 new at lO320
33i 1882. ST. Paul hiking Funds steady at lO2
aud L,Crosse ists up l0i. North West gold bonds
worked up 70 sla0Sj. the ORIGINAL hrsts Of Erie
ruling strong at 10 Tue convertible per cents OF Han
nbal and St Joseph fell on 10 sOi, OhO aud Mississippi
Consolidated SinAing Fund ruling at SO. Uuou Pacific
nsts were nrm at los A. sinking Funds selling 81 80 ana
Speculation In gold was tame and sales were At 1853
1904 alternately the market being devoid OF feature
On gold loans lending fiat, l. and bOr
rowing and carrying The Assistant Treasurer paid
~ 100000 I'm coin interest the public debt, and
$4,000 in redemption Of called bonds The days bus
mess of the Gold eauug Department OF the B1n Of tho
state OF New York covered; Gold cleared, Sl6J0- UOOi
gold balances, lil72OO; currency balances, II ,iJs
2iO. Tue gold quo dtOls were as follows:
l0......IO5l4 l23O-.....l0Jls 3......105lf
The foreign exchange market was quiet but firm at
rates below. Tne selling rate, were ON the basis OK
II S7G 4 s7l2, AMI - s9l20 a S9al.
Money easy at y per cent Oh call discount ruling
at y per cent upward and domestic exchange a. last
quoted. Tie Umiel states Treasurer at Washington
ceiyed to-day 100000 National oank notes for redemP
ton. The customs receipts were ScOOOO, and the IN
Cetungh0use statement to-day: Currency exchanges
s'-,looo-t Currency pSahoes, 9o,3C1f 81 goa tx
In LoIuOn CJisOls firm at 9i wulu IN United
81 s bonds new 4Ia rose 10 lOjIt anu new D. 10 IO39
lefOrlcs ruling strong at lOJii 1898 anu 1865 at
iOGii. I'm Ann ucau railroads limos Central advanced
to o. but Otherwise there were no changes Bar silver
advanced to Odd the ounce. English standard Inc sum
oil 10000 bullion went mo the BanK Of England ION
baance" to-day. thus WAS fOrtnignty setting day On
the London STOCK Exchange. In Palis Inc ttnch h'e
per cent. X nes opened at an ADVANCE 10 1901. eOc
closing, Oacyer at lO6 4Jc.
TIE Suburban Gas Light Company has declared Il semi
annual diyluend of 3l2 .cr cent.
Tno approximate c.liugs Oh the ST. Louis Iron Noun
tam AID southern Railway durnS the laird week IN
$4,000 1876. S7lO5i Increase 1871. 50. 3l6