The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-19
AND CONNER ClAL
MONEY Market.
W ~ - ~ "A - - ~
WEDNESDAY. April 1876 T. NJ.


The downward movement Ia fancy stocks still con-
nues Prices current at the Grst board to-day gen.
orally lower than at the cose of the market yesterday
Indiana SIS declined per cent Virginia 6s, lz Missouri
6's, u Erie Bonds, 1875 y; Illinois Central Bonds, e;
Canton Company, Vi Nicaragua Transit "a Cumberland,
"a Illinois Central Railroad, Il; Cleveland and Toledo
Railroad, Il Ere Railroad, " Reading Railroad advanc
ed Il per cent and Hudson River X The favorable
monthly report Of the former the of its ad
but what could have put up Hudson River is be-
yond our comprehension. Erie sold as low Asa per
cent but recovered slightly before the close Cumber
land opened very heavy but afterwards improved The
fancies must give way under any contraction in the
money Market and there must be contraction il there
is not soon change in the movements of spscis
We cannot stand drain from side, without sup
plies coming In upon the other. The shipment Of mil
lion per week to Europe, with the suspension OF
remittances from California, will reduce stock
hand to point that will compel the banks to call in
their loans to great extent. In anticipation OF such
contingency, contraction has already commenced 1t
may be gradual to prevent any sudden collapse 10
prices but that II viii seriously depreclate the market
value of fancy stocks we have no doubt
II is our impression that the next California steamer
will brig much larger amount of gold than has been
brought by any steamer since the failures in San Fran
CISCO The fact Of the last steamer having brought but
steamers leaving at later dates should bring larger
sums. The financial and commercial difficulties in San
Francisco would to increase the shipments by the
mail steamers, and reduce those By the other routes
Shippers would under the circumstance be more anx
ous to have the gold go along with the drafts 80 as to
avoid all difficulty here. When the Nicsragus and ths
Panama steamers left San Francisco ON the same daJ
barking houses shipping gold preferred the Nicaragua
route from the TACT that the gold would get here two
ard three days before tie drafts drawn against t. Which
went 10 the mail by the Panama route Since the weekly
arrangement commenced the Nicaragua steamers have
brought comparatively very lc gold and since the re-
cent collapse in California Of s leading banking houses
the mail line has brought nssriy the entre rentancss
II s therefore, highly probsole hat the STEAMER nov
en- her way, which viii he cue about Tuesday next, will
bring quite large amount al geld We look for million
by her. If that amount Is received II viii mako up
good pert Of recent ,oea By shipments to Europe
and vii gvs some hope for the .asrs Wa have
entsr.airei the oprion that Caiforns would give
lass gold than Heretofore, account Of TIE failure OF
few private banking hcuiss Chat shpments voald for
.ne be suspended, seriousy rAduosd could nat
for monets doubt but that supplies fer the year
ycuId in the sarresa.e re reduced couls rot for
moment behave ne comparison OF rsmlttsnces OF goid
from $40 Frsne'sco for the 0rst Aree pouths u 1855