The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-11
FINANCIAL AND CONNER GAL.

have weeks later Intelligence from Europe tho point Of
which is the gratifying that peace will probably be
| preserved On the day before the steamer left Lord
Cowley left Paris for Vienna, with instructions which
seems to be generally understood will lead settle
ment Of the difficulty between France and Austria Bon
Great Britain and Prussia said to concur in the
that if the French evacuate Rome Austria is bound
evacuate the legations and the pretensons of the
French Emperor do not go beyond this, that
Austria viii be compelled YIELD and that the m5rogo
viii be ended The effect of this intelligence which tran
spred the evening OF Friday 25th,
morning rise Of y per cent in the funds, and
vive the speculation in cotton which had been checked
during the week. Should Lord Cowleys mission prove
successful the funds would doubtless to the
neshborhood Of 3d. and cotton would rise considerably
The war cloud the only impeachment 70 sound
commercial recovery throughout Europe this sprng IL
be dsspated the restoration peace Asia opening
Of China and the constantly progressing development of
territory throughout the world likely 10 SET the
life blood Of commerce in circulation from the
financial centres where it is sagnant and to spread
activity and enterprise throughout the world
The great question for this coustry, in commercial
point of vew relates to the West To what extent Is the
West impoverished, and how much take from us in
the shape Of dry goods and other merchandise this
We have taken pains to collect opinions to-day from
leading houses engaged in commerce. and having large
country customers throughout the West There exists
some diversity OF opinion among these gentlemen few
Of them speak of the West almost wholly bankrupt.
and utterly incapable of buying until crop comes
in The majority OF those consulted, however, while
admitting the general poverty OF the Western country aud
the great difficulty Of selling Western property any kind
at sacrifice, to think hat, notw Outstanding
all this, the West is and will be quite largo buyer ths
spring in markets. The wes these houses say
A.. til
East When the crops have been good Western men
have paid their debts. When crops have failed thoEe
debts have been left unpaid, and the loss general
rule fallen upon he seller here in Eueopc During
the sprinr OF 1857 West bought snornans, tho
markets OF the seaboard cities When the crisis came
the Western men ceased 10 pay The loss fell not on
them much their creditors ia New York. Boston,
Baltimore, Philadelphia aud Europe II is true that the
particular houses in the West which had bought goods
and did not pay for them, broke and went TO pieces
and have disappeared altogether But the Western couu
Try enriched by the operation, as it kept the goods
and parted with nothing in exchange. AT the present
time the West is ready TO buy again. True it has no
money but it has required money buy of New
York. Credit all that hDs needed and though
shaken, its credit is not wholly destroyed There are al
ways merchants enough in this AID tue other eaboard
cities who will themselves take the risk Of the CROP
and will sell to Western men, well knowing that
the crops fail they will lose par, Of their claims. Tney
expect to lose part and charge accordingly. Thus the
only change this spring will BIO in the individuals who
will here buy for the West Very few of the old
houses viii re-appear buyers But men will como
their places--youns with good characters strong
recommendations and fair prospects; and they will find
plenty Of merchants to sell them goods Already we are
assured by some heavy dry goods merchants quite q
number Of Western buyers are in town, and buying
through the crisis; but the bulk young houses. who
have very small means and whose capital is their
character. Some of the prudent houses will not sell
10 such buyers but, all can learn these are cx
ceptons to the rule. We assured several quarters
that though tho spring trade with the West will not Of
OF course compare with the trade o. 1857 will be
large the average trade Of the four or five preceding
years.
Money continues 10 rule last quoted. Call loans
average per cent though loans remain out at ve
and occasionally balance is lent for day or at
time at three. Exchange is firm at 1929 o u for
bankers sterling, but there is little doing Tomorrow
the market will be active some specie will 60 out
in the Saturday steamer.
The recovery in stocks noticed yesterday continued TO-
day, and nearly all descriptions closod somewhat higher
Inc volume OF transactions, too, larger; few out
side orders reported by the brokers' as usual after
which most Interest was concentrated; it advanced Ia
per cent, closing steady at 81 1t seems to be believed
that there large short interest in this stock and that
the bulls play their cards rightly the bears may be
ponRheo The other Western stocks advanced from "a to
z per cent Michigan Southern guaranteed which
verey hammered, fell to A. but recovered the after
noon to M The earnings in the frat week Of March
are reported being Of those Of the last week
OF February. New York Central advanced ~ per cent,
and Hudsor River z. The effect Of the contest has pro-
baby been discounted Pacific Mail stronger today
IN tie face Of the establishment OF the opposition. No
one doubts but that, when verybody has speculated
sufficiently in The stock, an arrangement will be made
with Vanderbilt on baas, and that the usual
ton per cent will be divided in spring The business
bonos at tho board Moderate but prices were high
er. Tae new government Gves arc held at Io3z;
they wiz undoubtedly be taken for Investment large
Quantities in Europe as the adj OF Con
gress is known The make. closed arm this afternoon,
thc following being the closing pricesM ssouris, So Il
& canton, lsA 20l4; Cumberland, "a a Il; Pacific
Maj, 1855 "a New York Central, seS u; Erie, 1o1
"a hudson River, 90 Il; Harlem, I2s ID; ReIding,
ara q Michigan Central 52l4 III Michigan Southern,
icA 15i4; Southern guaranteed, AK a n; Panama,
NIX "a Illinois Central, GO a u; Galcna 7os< a ";
Cleveland and Toledo 26A 81 Rock Island COX 81.
ibc receipts Of The SabTfeasary continue TO be very
age ana as the departments Washington doing
busnes, In consequence Of the death of Postmaster
Brown the balance here Is accommodating rapidly. To-
days business wOs.-
Total receipts. S345162 40
" whicn lot customs. 1900 60
On account Of loan ........ 49,. 3BO Og2 3s
PaYnenb.. OBSERVATION-DISCLOSURES. 6O ,936 VI
81
The exchanges at tho Bank Clearing House this morn
ing we're $2S 27 6l md The balances 31 100 90
We are requestcd TO call attention the proposed
Of Central Park Fund per cent stock, for which pro
possIs solicited, per advertssmcnt 10 another
column. II United States ivc5 Of 1874 are worth 81 per
cent premium, surely city sxea OF 1887 ought 70 bnag
still higher premium. The Conprosr has lately had
offers Of large amount Of money rovenus bombs 81
Bye per cent Interest," but owing the daay In plssug
Tho Anlrnnr 0tinnn for the unar ~ IL M n.ail