The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-05
FINANCIAL AND COMMERCIAL.
FRIDAY, March 40 p. NJ.

affixed his signature, and the bill became law Thus at
last the great danger which so many have feared has
been averted There is no possibility that the United
States paper will 60 TO protest. and in all human proba,
bty the government will now be able to pay its way til
Congress meets, without fresh loan The effect Of the
passage Of the measure-which was known before the
first session Of the Board rosew Of be favorable
70 the money market 1t removes very serious element
of distrust which operated against all American secu
rites, not only ut home but abroad will prevent
large absorption of money by the ubTeasury to the
detriment of trade. 1t will keep the United States
out of the market as a borrower till Congress
meets again. In the present state Of the market
five per cent Treasury notes will be current at par
and there will be no inducement for merchants 70
pay them INTO the Custom House for duties; should
trade its old proportions next fall money would
of course rise in value and the outstanding treasury
notes would protection TO the banks against OK
demands for specie for duties The FIRST elect OF
the news of the passage the bill to cause an ad
vance Of u per cent in the new government ives, oil
which sales are reported at lo3 The law will undoubt-
eddy give general satisfaction throughout the country and
will tend in decided TO aid the restoration Of
confidence and the recovery Of trade.
There change in money foreign exchange to rc
port In Wall street money is in excess Of the demand at
4on CALL though many allowed to stand out at
The exchange bankers asking losx e for sterling,
and SHY lSl tor francs bills very scarce. The
steamer Of TO morrow will take out some bars
The stock market opened rather quiet this morning
The unsettled condition of affairs at Washington tended to
check operations and the bears made good use OF various
minor matters depress prices As the call progressed
however, decided improvement took place The offer
iugs the bears freely met and in almost all the
speculative stocks advance took place. Prices were
maintained after the board, and still higher in the
afternoon The business OF the board continues small;
there large cliques operating on one side or the
other and the public is only participating to very mode
rate extent in the operations Of the Stock Exchange
Should the present movements for rise be conducted
with much judgment as their authors have hitherto
evnced; should there be excessive attempts to
rush up prices at the rate Of two or three
per cent per day; and should unforeseen accident
occur, 1t is likely that the public will gradually
increase their operations. Very many months have |
elapsed since the public have taken any share in Wall
street operations is not in the nature of things that
this indifference should last for ever the speculative ee-
ment dies there always men with money ready
to speculate IT. therefore, stocks are carefully tended
by those who have the matter in hand aud no panics
fghten outsiders it quite probable that, as
the spring advances, shall ind the public coming in
gradually and taking hold of the few speculative stocks
which really have future. This morning State
stocks pretty well maintained, though without
tyity: in the afternoon they better The most
active of the speculative stocks continues be New York
Central which opened rather dull at S0I, but closed in
demand at SIS. Some capital is being made by the
bears out OF the tolls fight between Pennsylvania and
New York; but they invariably sell so much took
that they defeat themselves. The Western stocks
were all rather higher, and in demand. The Michigan
shares both actve-the Central at advance Of ~
the Southern guaranteed at an advance of a. We un ier
stand that the latter road is doing the lions share Of
Tho hnGac 49, 60 80
freiehts will not be renewed caiena and Rock Island
steady Illinois Central fraction higher Mai,
uctuated from rs 10 49, then back to H. closing at that
figure bid The failure of the appropriation for the mail
contract known in the afternoon 1t will probably
facilitate settlement with Vanderbilt Tho coal stocks
steady; Cumberland is In fair demand at "a a. The
managers are no, communicative in reference their
business The business in bonds very light At the
close Of the day prices unsettled and were quoted
follows Missouri s5k u; Canton, 20 Il; Cumber
land, "a u; Pacific Mail, II II; New York Central,
slh "a; Erie IL Il q; Hudson River, 1928 u; Har
lem, 1917 10; Reading, 4sss q; Michigan Central,
as4 u; Michigan Southern 1871 81 Southern, guar.
anteed, 40 u; Panama, ll71I II illinois Central, eax
20; Galena, ~ u; Cleveland 4 Toledo, 29l x;
Rock Island, 60 u; Milwaukee and Mississippi, 1928 u.
The business OF the Sub Treasury to-day as fol-
lows
Total receipts. s1c's4l II
customs.
Oh account vi ioai. - oio 70
Payments. l,9i5 SIS
Balance. 7,l15, f03 SO
The exchanges at the Bank Clearing House to-day
SCI $40, III "a, and the balances 81 ,048, 922 TO-
The amount paid in to day for duties was, as will be
Been above quite small The dry goods import for the
week was, however, unusually large. The figures are
$3,347 ool imported against 81 $40 same week last
year, and 81 2is $40 in 1857 making the total import
date s24 s1S, against s96l2 225 in 1885, and s217
633 in 1857 The amount thrown the market fell but
little short of SO goo, and than double the
amount thrown on the market during the corresponding
week Of each Of the two previous years. Now that the
tariff question is out Of the way, merchants will move
more freely and the imports may be expected increase
The import movement for February was very large
larger than that Of the month any previous year
excep, 1857 The following table will show the compari
son for the past three years.
FOREIGN IMPORTS FOR FEBRUARY.
1857. 1858. 1859.
Ent for consumption SIS sos $3.50 5,s4o,25s a4s
Emit for warehousng.. 3,5i3,996 133o,e23 1921 6o2
Specie and bullion..... lO2s,7lS 24o,o59 $1,000
Total emf, at the port s25 52s 4e2 s2o9o4a lssass7O
Withdr n from warehe 2,5ol 500 4,733,7Os 2l87,99s
The total imports at this port for the past months Of
the calendar year $3s 296 1892 against SIT
Tor the two months Of 1862 and s44 224 for
January and February Of 1857 and for the eight months
of the fiscal year 1882 ending 2sth February 1869,
1929 7e5 against 1927 AGA for the same eight
months of 1873 and against si4o s5 1854 for the same
eight months Of 1861. 1t will thus be that the
crease in our imports has only jus! begun TO fen Trade
must yet increase very considerably before attans its
former proportions largely have been importing
lately the cash duties for February only $685.
making ,ls477s for the eight MONTHS against $50 ESQ.,
s1S for same eight months of 1875 and 1872 1852 for
same eight months of 1867. The export movement
during the month ia thus compared with the month
of the two past years
1857. 1853 1850
Domestic produce .s5 800 ,2o2 $40 2s3 592
roregn Tree goods 115,706 1882 1875, 2l0
Do dutiable. ........ 1853 s7s 326s45 263 s3i
EIcclo l.III