782

AMERICAN RAILROAD JOURNAL

mills and manufacturers of New England who
recognize Boston as their source of money sup-
ply, are reported as making comparatively light
demands which are easily met. Call loans have
been quoted here at from 1@4, with 2@3 P91‘
cent as the basis of the principal negotiations,
and very choice to strictly prime ‘mercantile cred-
its were rated at 2}4@5, the best grades of short
date passing readily at 2‘/é@-3% pet‘ 09013 Del‘
annum. The City bank exhibit of last week in-
dicated s. decrease in the loan and discount av-
erage of $1,993,500, and an increase in the item
of circulation of $24,300. The average of de-
posits was enlarged $581,500. The legal tender
reserve was further augmented $1,529,400; and
the specie average $1,242,200. The City bank
net reserve of specie and legal tender notes now
shows an excess over the legal requirement or
reserve to liabilities of $18,816,800, (the highest
aggregate reached this year) against $16,190,575
the preceding week. The City bank exchanges
incnrrency reached $349,403,759, or a daily av-
erage of $58,233,957.

The outstanding amount of legal tender notes is
$346,743,313. The National bank circulation is
now $323,078,164 of currency notes and $1,432,-
120 of national gold bank notes. National Bank
notes received at the Treasury Department last
week for redemption were to the amount of $5,-
656,000.

The U. S. Sub~Treusury receipts in June were
$47,428,319 (of which $6,196,636 from Customs ;)
payments, $45,518,855, (of which $4,977,224 were
for coin interest.) I

An increase in the public debt of the United
States in June was reported to the amount of $2,-
149,381 18, caused by the payment of $3,859,920
85 on account of deficiency appropriations.

The Treasury disbursements in June reached
$14,767,443, including currency, 32,653,479 09;
special fund for redemption of fractional curren-
cy, $10,000,000 00 ; special deposit of legal tend-
ers for redemption of certificates of deposit, 346,-
755,000 00; coin, $197,415,132 99; including
coin certificates, $44,367,000 00; outstanding legal
tenders, $346,681,016 00 ; on account of civil and
miscellaneous, $4,347,891 68 ; on account of war,
$3,918 068 21: on account of navy, $3,649,686
59 ; on account of Interior (Indians and pensions),
$2,851,796 50. This is exclusive of payments
made on account of the interest or principal oi
the public, debt of the United States.

More demand has been noted for Government
Securities_ which have been quoted stronger in
price closing on Wednesday quite firmly. At the
close on Wednesday the current quotations were
as follows:

United States (is, 1881, registered, 1075/8@
1073/4; do. coupon, 107V2@1073/4; 5-205, 1865,
new, registered, 102%@1023/4; do. coupon, 1021/2
@1023/4; do. 1867, registered, 105};@106% ; do.
coupon, 105%@1061/3; do. 1868, registered, 108
@1osy,; do. coupon, 108@108}/2; ten—forties,
registered, 109@1091/4 ; d'o. coupon, 109}/3@
109%; five per cents, 1881, registered, 1071/3@
1073/8; do. coupon, 107@l071/4,’ 4% per cents,
1891, registered, ]04%@104% ; do. coupon, 1041/2

@104%; 4 per cents, 1907, reg.,_ 1001/4@l003/8;
do. coupon, 1001/4@1003/3; sixes, currency, 1203/,
@121 ; Central Pacific gold bonds, 1051/4@105,%.

The amount of U. S. bonds held by the Treas-
urer of the United States as security for the Na-
tional Bank circulation is $349,126,400, and $13,-
858,000 as security for public deposits.

The income of the Government from internal
revenues last week was about three millions, and
from Customs last week about two millions. The
receipts from internal revenue for the fiscal year
ending July 1, as reported at the ofiice ol the
Commissioner of Internal Revenue, were $110,-
503,746, showing a decrease of $8,367,231, as
compared with the preceding year.

A fair investment movement has been noted in
State bonds which have been quoted rather firm
er, in the instance of the more prominent loans.
Railway Mortgages have been in moderate re-
quest, chiefly for investment account, with prices
showing rather wide fluctuations for the favorites
of the actual interest bearing obligations. And
in the line of Railway and Miscellaneous share
property business has been less active, butindi-
cative ofa generally more confident temper in the
speculation.

Gold has been without much ani ration, and
has varied little in price. The extremes during
the week have been 100%’dl003/,, closing on
Wednesday at 1005/3 as against 100% on Wed-
nesday of the preceding week. The specie outflow
last week was only $58,524-—making the total ex-
ports of specie hence since January 1, $8,579,482
against $19,561,172 the same time in the preced-
ing year. The imports of specie at this port last
week were to the amount of $63,150 and since
January 1st have been $13,024,876 as against $7,-
341,049 same time in the preceding year. The
Customs demand for gold in the local market last
week reached $1,371,000 or an average of $228,-
500 per day.

Foreign Exchange has been in moderate re-
quest and quoted weaker in price. Bankers’ sixty
day bills on London closed on Wednesday at $4
85@$4 85%; sight bills on London at 34 87@34
873/, to the .8 staring. The week’s imports of Dry
Goods and general merchandise were to the spe-
cie value of $3,977,512 as against $8,220,740 the
corresponding week of 1877. The week’s import
entries of Foreign Merchandise at New York in-
cluded $720,932 of Dry Goods, and $3,256,580 of
General Merchandise. The week’s exports of
Domestic Produce and Miscellanec us Goods from
this port were to the aggregate value of $7,107,-
529 against $4,439,242 same week in 187'! ; and
since Jan. 1 have been $171,397,075 against $133,-
945,538 same time last year.

Metals have been in generally limited demand
with values quoted weak. Iron has been slew of
sale. Eglinton Pig Iron qucted at $21 50Zb$22;
Gllengarnock $23 ; Coltness $24 ; No. 1 American
Pig at $16 50@$l7 50; No. 2 do. at $15 50@
$16 50. Forge $15@$15 50. New Iron Rails at
works $330337. Old Rails $18@$18 50. Wrought
Scrap $20@$21. Steel Rails, on the basis of$44@
$45. lngot Copper 161/4. Domestic Pig Lead
3y,cts.

A fairly active movement has been reported in
the leading kinds of Domestic Produce but at gen-
erally easier prices. Export dealings have been
less extensive. Breadstnfis closed as a rule weak-
er, Provisions heavy. Cotton has been in slack
request for prompt delivery, mainly for spinning

purposes, at slightly reduced figures. Low Mid-
dling left off at 11 1-16@11 3-16 ; Middling at 11
7-16@l1 9-16. And in the way of options, a re-
stricted business has been‘ noted, with prices at
the close quoted 11.60c. for July, 1l.58c. for Au-
gust, 11.26c. for September, 11.100. for October,
10.960. for November, 11.10c. for December. Stock
in New York, 113,200 bales. Stock at the ports
consolidated, 173,160 bales. Naval Stores and
Petroleum have been in less request and quoted
cheaper. Refined Petroleum for early delivery
closed here at 11. Foreign merchandise has been
in light demand with values, in several instances,
showing some depression.

Business in Ocean freighte has been steady and
active though closing weaker. For Liverpool
steamer rates for Grain were 7&«Z28d. ; Flour, 2s.
9d. ; Provisions, 323. 6d. Measurement Goods at
20s.@23s. 9d. per ton ; and Cotton, id. per lb.

The following quotations of sales of Railway
and other securities are in addition to those given
elsewhere in our columns :-—

Naw Yor-7c.——South Pacific of Missouri 1stmort.,
82 ; Chesapeake and Ohio lst mort., coupon on,
28; Lehigh and Wilkesbarre consol. ass., 48;
Central of New Jersey 1st consol., ass., 75; do.
conv., ass., 72 ; Kansas Pacific Inc. No. 16, 13 ;
Clev., Col., Cin. and Ind. 7s, consol., 85,15 ; Syra-
cnse, Binghamton and New York 1st mort., 10215;
Buffalo and Eric 78, new. Ill; Winona and St,
Pete!‘ 181 m0rt., 101 ; Chicago and Northwestern
Int. bonds, 105% '; Boston, Hartford and Eric lst
mort., 25% ; Missouri,,Kansas and Texas R. R.,
2%; do. 7s, consol. ass., 411/4 ; New Jersey South-
ern R. R.., 1 ; Pennsylvania Goal, 152 ; Maryland
Coal, 10; Missouri 65, 1887 and 1888, 1033/4;
Virginia 6s, ex mat. coupon, 57 ; North Carolina
63, fund. act, 1866. 10 ; do. special tax 3d:class, 2 ;
do. 63, old, J. do J., 16; Louisiana 7s, consol., ex
int., 76% ; South Carolina 6s, Apl. and Oct., 31 ;
do. non fund, 2; Missouri 6s, H. & St. J. issue,
1887, ex int., 103%. The latest quotations are :
Adams Exp., 1021/;@103 ,' American Exp.,47@48;
Atlantic and Pacific Telegraph, 25@27; Central
Railroad of New Jersey, 383/,@387{-; Chicago,
Burlington and Quincy, 107}§@107%; Chicago
and Alton, 781/;@—; do. pref., 102@——; Chica-
go and Northwestern, 50%@503/,; do. pref.,
76%@765/3; Chicago, Milwaukee and St. Paul,
53%@531/4; do. pref., 83@83}§ ; Chicago, Rock
Island and Pacifib, 117%@1171/4 ; Cleveland, Co-
lumbus, Cincinnati and Indianapolis, 256126 ;
Cleveland and Pittshurg, 803/,@81 ; Delaware and
Hudson Canal, 57@57},{ ; Delaware, Lackawanna
and Western, 59%@59% ; Erie, 163/§@l6%; Han-
nibal and St. Joseph, 11%@12; do. pref., 27@
28; Illinois Central, 84%@85; Kansas Pacific,
6@61/4; Lake Shore and Michigan Southern
59}§@591/4; Michigan Central, 665/3@——_; Moms
and Essex, 843/44185; N. Y. Central and Hudson

River, 1083/,,@109 ; New York and Harlem, 139 0‘

140-, Ohio and Miss.,73/,,@7% ; Pacific Mail, 173/3
©17% ; Panama, 126@1¢8 ; Pittsburg, Ft. Wayne
and Chicago, 941095 ; Quicksilver, 12-@715; do.
pref., 303/1@32 ; St. Louis, Iron Mt. and Southern,
5@6% ; St. Louis, Kansas City and Northern, 4@
4% ; do. pref., 20321 ; Union Pacific, 64%@65 ;
U. 3. Express, 4760473/4; Wells Fargo Express,
933/,@95 ; Western Union Telegraph, 881/,@883/3 ;
Wabash, 13@141/4'.