The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-12-17
FINANCIAL AND CONNER c.AL

Foreign exchange for the steamer on Saturday higher
again. Commercial bi Is very scarce and tho leading
bankers asking 1osh II for sterling, and 12h
13A for franco Az these rates. bars may be probably
shipped should they hold throughout the day morrow,
tho balance Of the California remittance, and further
portion OF the idle In bank win be Europe,
while few shipments will probably made to the
South Discount brokers report shade inquiry for
money. First class short paper, endorsed, quoted
AZ 81, instead of IA s; single paper 4 Oh four
and six months paper 5ha The brokers Dor
rowing al and call but money lenders excrcis
rather more discretion than has been usual heretofore
in tho examination OF collatcrals.
The pacific from Washington used with
good eject the bulls this morning. several Of the
most prominent Of the late Sellers political grounds,
deemng it prudent 10 buy In their stocks prices rose,
and The market buoyant The business in State
stocks widely distributed Mssouris usual led the
advance closing at the morning board at S9S for cash.
vrginas and the other descriptions likewise in
mand at slight advance. The price at which these six
per cent stocks are selng-viz, %, s7k, s5A, e4h,
s9, &c shows how little faith the public have most
alleged dividend paying enterprises in which they
invited 70 invest their money. Whom railroad pro-
perty shall have passed through the crisis which is des
tined overtake it, and shall have been placed pecuna
ry speaking, safe basiswhon the economy Of rail
roads shall be generally understood that shall
longer be possible 10 fraudulent reports with view
deceive the pubc-railroad stocks and bonds again
become favorite Investments. Al preseDt, much
roguery among railroad his been detected and
yet suspected TINT very few per
cons with ordinary prudence will risk their money rail-
roads, the consequence Is that state bonds secured
only by public fa,th have to price which, be
cve, is almost unexsmped few railroad bonds have
participated the The bonds OF the Hudson and
Harlem roads which close a, hand and about which
Il u possible 10 obtain fun Information in clear and
straightforward way, the mos, popular among these
securities Some few undoubted Western bonds, as the
Michigan Central eght have also attracted purchas
very high rates and atcry there has been
Wall street operators good deal OF speculation In the
Eres Bank stocks have been, and continue 10 be, i'm.
proving property-uot because they earning much
money for, every knows, they must find it very
difcua year ordinary dividends bat because
they considered be cafe and Is believed that their
managers tell the truth about them
Reading tie leading speculative stock this morning
Il advanced Y per the morning board New York
Central opened at advance OF 4 per cent and man.
tanned the advance with large Sales throughout tho
SION. Hudson was Y higher Tho Western stocks were
likewise better Rock Island y Gslena Y; Toledo,
X: Southern preferred, X Illinois Central steady.
Michigan Central injuriousy affected by the reports
Of its earnings for December and declined quarter IN
consequence The coal stocks quiet without change
81 price. Panama and Pacific Mail we're considerably
higher, tic peace news being regarded peculiarly Ia
vorabe to them. In the afternoon stocks we're very
quiet and rather lower price; the business done
exceedingly small The following we're the closing
prices Missours, sqa. II Central, $50 81 Pacific
Mail COZ si; Erie, ia =; Hudson, 3SA
=; Reading, SiX -; Michigan Central, sos "
southern preferred, IS a 4; Panama llea a Illinois
Central, y n Gaena, TAX - Rock Island, ola y.
The market closed weak.
The following the business Of the Sub Treasury
70 day