The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-01
FINANCIAL AND COMMERCIAL.
' 2s.s7s Sl'
decrease. ..
Decrease. :. 8 .,Go.4l2

THIS state men, satisfactory The gain In specie IN 'h'
fsoe Oh the drain into the Sub Treasury was hary
peoted' II will be noticed however, that the snpn,sA'
Per Led anon ON Saturday is not taken into eccouh
banks pegtn business with near million more speo' w.,
sne yeruge shown above-being the paahcc " ING oA
forp remittance, after deductng the shpni'n' W
S@ urday. Toe reduction in the discount hne slc"A
ell for the prudence CT some Oh the ieaohs oA''~
ansssrs few banks have rather notorious, dur
inp the mast week. institutions which sought 70 ieno
below the established bank rate the majority OF tneh
brethren appear TO be guided sounder counses This
week the banks should steadily persev ere In refusing 10
lend at the lowest Of the street. They may ose
ktte business 2rst but in the end the poey VIII pay
Money continues TO rule Az for call loans the lat
Der being obtained quite often as the former Az mos,
OF The banks six s stated to be the minimum In the
discount market is change The best paper may
Fill be quoted at u sales below these rates are not
fairly quotabe There is yet little doing in exchange
Sor Wednesday The rates unchanged. The
steamer will take out some specie.
The movement in the stock market appears to gain
strength. We assured to-day by several commission
brokers they receiving orders TO buy stocks
reuera opinion to be aoat that the country has
the worst of the hard times and that things are on
he mend It expected, for instance, that the receipts
Of all the railroads which in the usual line OF travel and
traffic will show increase from this out. How far this
view may DO justified by the event, time will show it Is
certain that there many well known railroads which no
Temporary increase IN traffic save while ON the other
hand there few which, having been honestly adj
mnistered, and udiciousy located and built will recover
with rapidly as business revves. Accidental
likely to influence the business Of some of the
roads. 1t is well understood that there will be, this
spring. large emigration to the Pixies Peak gold region
This will benefit all the roads running between that soc
ton Of country and the centres Of population Some or
The Western roads already discountng the prents
they will reap from this Should the next
crop in the West be fair, it is reasonable 10 sup
pose that the business Of the roads generally would ap
proxmate the figures of 1856 and 1867 The business,
true, is divided among more roads than existed IN
those years. the extent OF ground sown and occupied
h larger As the buying the board is generally dstri
buted shared moderate extent by the well known
commission brokers' it natural 10 infer that these consi
eraons are operating lure into the market persons
who long been strangers TO speculation The specu
latve jobbers who probably likewise interested In
Che movement will do well to move more cautiously and
pudeptly than they have done one or two recent
occasions No advance in stocks be reliable per-
manent has been sudden caused by the operations
Of clique few inside spectators moderate steady
advance with periodical reactions will do to restore
activity to the stock market than half dozen ul expan
sions followed by ruinous declines.
vanced u per cent and CALIFORNIA; much. The
business in railway bonds small but the
Erie bonds Of 1875 advanced per cent. Illinois
Centras steady the stock Of this road higher
The most active among the speculative stocks s New
York Central which is being freely taken for the rse
speculative parties the advance OF the day equal
1x per cent We hear nothing yet OF the February
earnings, which win probably show decline, though not
% great in proportion the decline of January. The
Michigan shares were also very active at advance.
Michigan Southern guaranteed appears be in good
and for parties supposed TO be in the secrets OF the
management; the advance TO day equal 10 u per
cent Michigan Central is not so mucn Sought Ior,
was higher the close The advance ia the Galena and
Rock Island was small, but well maintained; both roads
are said by their friends to be doing we'll Reading is
very quiet and appears TO be neglected by the bears
Pacific Mail like wise neglected. Panama advanced u,
and was strong at the advance. The business in the
coal stocks moderate, at unchanged prices. In
the afternoon there large transactions in New York
Central Michigan Southern guaranteed and two
other stocks. The market left of firm.
The fol owing the closing prices Of the day:-Ms
sour, Sc 4; Canton 20 Il; Cumberland, "a u; Pa
C3c Mail, SIX Il; New York Central s0Z y; Erie,
1ax u; Hudson River, 32x 80; Harlem, Ii 4; Har
lem preferred, 4o1< u Reading, AK So Michigan
Central 62I q; Michigan Southern, ls1S Z; Michi
gan Southern guar anteed, 4sl q; Panama, ll7& ri
Illinois Central, 69h x; Galena, 7o16 x; Cleveland
snd Toledo, 80 II Rock Island. 62H Il; Milwaukee
and Mississippi, 12h q 49, La Crosse and Milwaukee,
lax.
The business Of the sub.Treasury to day was:-
Receipts. $4O6,751 30
On account Oh !o3iIo ~