The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-04-24
FINANCIAL AND COMMERCIAL.
NOM nv MARK e T.

MONEY II d X EFT.
FnnAy, April 2S-ePh
ne s>och MARKET continues very dull, but prices do
show any weakness. AZ the first board 70 day the
>cns Of business trsnsAcssd unusually small The
Separations principally for each Tennessee State 6s
sSsaDced II pee cent; Delaware and Hudson, NJ GaienA
and Chicago, y; Chicago and Rock Island, "a; Milwaukee
and Missssippi, y. It's long time since we have had
soch limited amount Of operations TO record, ana tne
fses that advance in prices was realized SHOWS oon'
ssvey that stocks in strong hands, ana tn no Nc
ssesty exists for putting them upon the market excep'
prices that pay profits to holders. The steamship
~ Halifax from Liverpool, brings three days A'er news
kon Europe The aivioes do not differ nAteria'y from
nose received by the previous four or FIVE steamers
Quotations for consos quarter TO hreeeigntns OF
. per cent lower In money matters the same ease and
abundance continued, and the rates OF interest ruled
nj merely nominal points. Cotton shows an i'm
prcvemen. in prices, with active demand Bread
ssus were duh previous quotations The news, ON the
whole is Of favorable character The enormous accu-
mulaoo q specie al the great financial centres OF the
world subject of general remark, and numerous heo
RES advanced the real and probable eff
feet All agree that extraordinary and unnatural
Of things, but all appear differ the probable
sssuR- This abundance Of money is caused by the de-
precision Of business There appears be disposition
either side Of the Atlantic TO in speculation OF
any kind, take hold of projects matter how
pleasant they appear paper but on the contrary,
every evidently holding TO his money, afraid to
invest place at risk in any way The last returns
Of Bank Of England the Bank of France and the prn
sipa banks of this country show aggregate OF specie
perfectly astounding appears BY the following state
Ment:-
Bank OF France NEUTRALITY-SUSPICIOUS.. 67,5s5,4bs
S.nSs Of New York, Boston, Philadelphia and
New Orleans .............'.'.'. o'''so'oH
- 1000 600 "a,
Jotal S<@o,Looof'
Heye we have the enormous sum Of two hundred and
twenty million of dollars piled up in the vaults Of the
hanks Of half dozen money centres Tho bulk Of this
accumulation drawn during the past Six months
rSsm channels of and placed where s OF
earthly TO any class OF the community. There Is
probability Of immediate distribution Of this mass OF
bullion. The moderate movements which have recently
place IN stock securities have served TO increase
rather than diminish the aggregate. The season, the
times the position Of trade, the absence Of public con-
A3sDse low prices for and restricted consumption Of
all The of life, point greater accumua.
ssos and long continued drain upon the community. ]!
likely 70 years before the bulk of this specie becomes
sGan scattered Nothing but recovery in business and
Ne return Of activity the channels OF trade, viii pst
once more into circulation. The consumption OF
IN tie pecesssries Of life s likely 70 be limited
br a long time, and period Of economy and
esntracton is the only way by which We can
which date the return prosperity On the other
side Of the Atlantic they have dangers and difficulties TO
coatend asanst which do not dream Of The political
condition Of Europe Is by settled Any moment
Antiquities OF grave character may spring up between
principal Powers civil oommoton may upset some
coatnental government These things certainly not
song the npossibhes and any occurrence Of the kind
would produce further trouble and arrangements in COM
Dercia circles Anything calculated TO check returning
precision and destroy public confidence This important
prosperity under the most favorable crcum
stances gradual growth and a. al tmes in danger
Of osrston. The present condition OF Europe there
Gore such forbid all hope Of rapid recovery In conf
aence and N business Affairs The immense amount Of
money unenpioy ed and the difficulty OF using even at
of Interest. later turn the
senon Of foreign capitalists to investments on this side Of
the Atlantic Of permanent character Our stock securities
may not much European capital, but
there thousand ways OF using money This country,
will pay rates OF interest compared
with those abroad and where viii DO as safe As
any nvettnent possible 70 be made Our political condi
sson m and stable. Financial AMI commercial nie
resls here beyond all political ccn,ngencies Every
ssAie congeoeracy has It's separate and distinct laws
md no possible endaDger capital invested IN
any one OF them. There is danger OF di solution no
sanser Of internal corlmoiOn, danger Of collision with
Aay foreign Power question likely arise creating
anything more ID An political agitation and Of par
tsss Our position is therefore impresrsble and we zee
why foreign capital should not rush TO our
shores for employ neDt IN al branches or ndusry-fr
investment real estate and landed property and IN our
stat AID ether first class securities No other section OF
sAs world holds such Inducements, and the capitalists
snrope may after several N oahs more Of ina-uon and
proes for money get tired Of waiting for the restors
on o. public confidence and return Of peace spd perma
nensy IN the political AAus OF the Continent, and send
ever large sums judicious Investment where will
he free from interrupted alliances and civil discard II
shey are wise, they viii dc e without delay.
Al the second board the market exhibited the usual In.
activity but prices generally steady, and In ose or
pwo instances q slight advance roalHej. Pacdc
Steamship Company advanced u per cent Reading, q;
ERE T. After the board Erie sold at rs a, aud closed
arm at that figure Michigan Southern was IN demand
.sser the board. II Is pretty certain that the
party vii be successful the approaching election The
stockholders disposed 10 put their property into the
AAnds Of experienced nee, rather than the hands a
~,tes very little interest the road and know
very little about Ia Management. II IS the prevailing
imessor hat the Of the party VII pat both
classes Of stock up ten per cent in market value.
TIE AseiGtAnt Treasurer reports TO day a. follows
IessI receip 1899 ~
Toss 1851 -
he reeeipts 20 day include So 900 from customs
Mere has been but q moderate business in foreign
exchange for remittance by The from ns port
70 morrow, saturday. We quote bank and bankers bills
London AZ . sa per cent premium On Paris,
IN Ia Sir %.