The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-10

money MARKET which really 70 grow easier daily.
The complaints among lenders Of the want Of paper or
other investments are louder than ever. II is sppre-
hended by many that war In Europe would tight
money market here; all tna' be said this head is
that there are NO sgns Of anything OF the kind yet
An advance OF one or two, even three per cent,
in the rate OF interest, would bs welcomed as
q great boon by our money lenders and the
banks would II press heavily on any class
Of tho community Money, however, is subject
to the same laws az any oite, art Gle OF produce
1t 10 governed by supply and demand, and the public
may rely upon that, whether the Europeans 60 TO
stay At pence, there be very startling advance
in the price Of money here till and large demand
arises for either from the merchants or from the bro
kes, from the farmers There ia no prospect OF any
such demand before the fall months. Exchange Eu
rope continues fair and usual marked preference is
exhibited by remitters for bankers over mercantile bills
fair business in sight bills is being by the leading
drawers at 1903 A the usual sixty day bills 60 at
l101 u, and francs at $40 o u. The steamer
Wednesday will take ont large shipment Of spesie.
There no bars In market; whatever Is sent abroad
viii 20 IN COIN
Business at tho Stock Exchange this morning opened
With quiet feeling, but before the close OF the
The news by the Anglo Saxon arrived, and being
strGed unavorably by majority Of the obbers, stocks
freely offered time and prices receded fraction.
Essours opened pretty irm at $685. cold down TO s6H
time, and closed at sax bid. Other State stocks and
railroad bonds pretty firm Tho business in New
York Central smaller than usual and the fluctuations
very slight, the price throughout the morning
7114 in the afternoon was better closing at II 4 bid
Rock Island which attracts marked attention at present.
opened 69lz CO. demand after the board
at e07s and closed In the afternoon at 90 bid. The
Michigan shares lower; Michigan Central continues
to be freely offered sellers options by parties who have
been considered friends Of the stock. The month Of
Nay will undoubtedly do better for all the Western
stocks than April the rise In breaistuTs, con
sequent upon the war prospect, is emlnen,ly ia.
vcrable 10 them. Gacna was n shade lower this morn.
ing so was Illinois Central Harlem and Hudson are very
firm Both Of these roads administered with econo
in the general recovery of business their prospects
are good They constitute en- essential link between the
West and the greatest seaport Of the Union Coal stocks
steady, with the exception of Cumberland which s
lower we note sales at 1914 this morning TIE damage
caused by the freshes the canal will not we arc in
formed involve m expense of Elk thousand
dollars In the afternoon stocks rather better the
market closed very Arm at tho following prices --Ms
sours, S65a 70; Canton, IsA 1911 Cumberland
Coal, II 49, Pacific Mail, SO a n; New York Central,
7l2s u; Erie, ~ s; Hudson river, 32A u; Har
lem, tx u; Reading, 4otl n Michigan Central AK
40 Michigan Southern, az 10; guaranteed, 3lXa ~;
Panama, 1924 "a; Illinois Central, e2h g. Galena
and Chicago, 63 Z; Cleveland and Toledo, 253k n;
Chicago and Rock Island, COZ "a; Milwaukee and Mis-
sssppi, SIX 6; La Crosse and Milwaukee, u z.
The exchanges at the Bank Clearing House TO day were
s2s, 442 ,306, aud the balances 81 ,327, $40
The following the business al The Sub Treasury
1otsl receipts sl73,le II
T ror customs ...'....''...'....... $4,000 90
lolai pay mems 307, 1913 90
iotai oa.ance'. .6,Sl1 SIC VA
An evening paper gives apparently by authority the
following the condition of The Erie Railroad on Nay
The entire bills payable outstanding s54S $3.50 90 unpaid
coupons on unsecured bonds including those in hand of
up to the LIST Of March. Supplies being purchased for
cash are paid up TO the Let Of April. Total amount Of
fourth mortgage bonds issued, So 600; leaving spp
cable TO floating debt So Asst 00C if the balance were ne.
produce in cash 81 2f3 800 which wouli leave after
paying entire floating deDt and past due COUPONS on the
unsecured bonds, $25h, coo.
The usual election Of officers took place a. the Stock E
change this morning. The President Col. Stebhns do
Ching re election, his place filed by Mr. William
II. Nelson, al old member of the board. Mr. Wheelock
was re elected first Vice President and Mr. f. s. Monroe
second Vice President in the room Of Me Wainwright
who declined re election. No change was made in the
other Offices. motion being made to present pece of
plate to the retiring President that gentleman begged
decline the intended honor but the board unanimously
declined to entertain his refusal and the plate was voted
accordingly, testimonial Of the high esteem in which
Col Stebbps 10 held by his coaseres. similar conph
ment was paid to Mr.. Wainwright.
The fortnghty returns of the condition of the Rhode
Island banks, made to The State Auditor compare
follows with preceding statements