The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-19
FINANCIAL AND COMMERCIAL.
FRIDAY, Feb. lS--8 I'm.

FRIDAY Feb 1876 I'M
m, ruropean news when soberly digested leaves the
asrresson on the mind that. though may possibly be
zerted by the Intervention Of the great Powers Of Eu
rope political affairs likely TO remain for some time
IN a very serious and unpleasant complication. II is pos
sibe OF course that the Intervention Of France Russia
and England may induce Austria to grant liberal cons
tuition 70 Italy. But this could only be the result OF
protracted negotiation during the whole OF which the
political and financial world would be kept in state of
ieversh anxiety. And the Austrian Emperor does
grant and independent government 10
Lombardy a considerable period must elapse before it
can be discovered whether the experiment will work
well or ill., The Lombards have had training for selfgo
vernment. They may make bad use of liberty as the
Romans did in ls48 They may be attacked by a
mania for propagandsm. Until il is ascertained
whether they going to commit any OF these
errors 10 follow the wise example set them by The
sardnians, there be stability in the political affairs
ofEurope and the financial markets which depend on poll
Ncal influences must be increasingly subject to huctua
TONS The fall Of per the funds reported by the
Prince Albert appears 10 have been mainly caused ny
those portions of the Queens speech which refer to
Mexico. So far this element of dsrust is concerned
we may fairly expect subside presently but on the
7th-wo days later than the departure of the Prince
Ab-he Emperors speech at the opening of the French
Legislature will have been delivered and this is likely 10
aggravate matters The recovery in the cotton market
would be more hopeful sign had the previous decline
been less marked At prices reported by the America
shippers from this side lost something like 80 pae suon
difference between prices this and the other size Oh
NE ocean could not last The French too to be in
cned to increase their stock more Literally than usual
The slight Improvement in breadstuas was generally ex
peced need hardly be added that even at the higher
price American breadsufs are lower in England than
here It will be noticed that the Manchester trade report
which s almost reliable barometer as the funds,
quotes business dull Altogether, considering the causes
which are operating, the decline in consols and in the
French renes the duness Of trade at Manchester and the
movements of politicians it would seem safe for parties
who propose to into large operations involving
serests that might be injured by hosttes wait few
days longer before they commit themselves.
Money is unchanged in value. There is q fair demand
ut bank from commercial men, and q good many call
loans made at But the general rate for call
loans continues to be six, and five per cent loans in the
hands Of good parties in many still allowed
stand out The quotation for very first class short paper
IL seven; single Names prime, go Sa9; good first
class paper, months Q. There is no sign of any
relaxation in the rates. though there is no difficulty in OBJ
tanng money adequate securities The rates Of foreign
exchange unaltered. Bankers are asking 1927 q
for sterling, and 5l2 13X Is for francs The
Tomorrow will probably take out something under
300, 900 in specie.
Every seemed to expect this morning that the
IbFegn would have exercised depressing effect
upon the stock market At the opening there fact
decline in United States fves, which fell back to 1925
and generally prices throughout the list Of bonds and
State stocks. But when the speculative stocks were
reached became evident that the bears had pre-
pared to buy Decline and the consequence that
hardly any decline took place New York Central, for
instance which, under the combined effect Of the rupture
between the roads and the news from Europe,
pected TO fall to 70 a II, barely declined q per
cent, being arrested in the decline by the pur
shases TO cover short contracts. Reading even
better, orders from Pennsylvania having again
ceeded the supply Of stock Hudson and Erie
both lower. The Western stocks generally were
steady without material change The active
the list just Rock Island and Cumberland Coal
movement has, believe, been organized for in
the former stock the basis of the probable increase in
the earnings, and the prospects of dividend early in
the spring is evident at glance that in the
event Of good crop next year. the position Of such Of
the Western roads sound financially would be
teraly altered Cumberland is moving on the strength Of
actual improvement which is said to be taking place in
the property It said that the product of coal this year
will be thrice that Of last year, and many persons
accordingly fastening to buy Pacific Mail is still better.
Nothing further is known with regard 10 the state of the
negotiations with Vanderbilt, but the belief in war
roiarance is dying away. The business done in
the afternoon was small; the market closed quiet.
The following were the last prces;-Mlssouri, SAX
y; Canton, 1s% 20x; Cumberland 241s II Pacific
Mail, 7sh Y; New York Central, 1874 a Il; Erie,
l2X q; Hudson River, 9ls4 49, Harlem, 1294 49,
Reading, 4e ~ Michigan Central, 49zs 5o1S; Nchi
gan Southern Tx ~ Michigan Southern guaranteed
Ak X; Panama, 1154 ~ Illinois Central, 674 6S 1
Galena, oss x; Cleveland and Toledo, 3oI 81 Rock
island 6l1s u; Milwaukee and Mississippi, 10 . u; La
Crosse and Milwaukee, la u
The following the business Of the Sub Treasury TO-
day.
Total receipts. lSt4l4 "A
For customs .'.''''.'.....'''''' ,soSYS ~
Total paymens coo saa -
Total balance. 1923 81
The exchanges at the Bank Clearing House this morning
were SIC 900 S07 40 and the balances 81 043 407 10.
meeting Of the Bank Clearing House Association
held this afternoon at which, understand the appca
tons of the Grocers and New York County banks for adj
mission to membership were denied.
despatch from Philadelphia states that the Reading
tonnage for the week was twenty three thousand and y
nine tons.
No further advces have been received from London in
relation 10 the Barbados Bank bills Beyond the fS,7o0
alluded to yesterday other bills had been presented at
the bank up to the time of the sailing Of the America
The man Law, or low is said TO have been an es-
capped convict Botany Bay whose previous history
was well known TO some German merchants here.
We hear Of novel dispute between the Collector Of the
Customs and leading merchant in reference to the true
meaning and intent Of clause in the tariff The tariff
admits coffee imported from the place Of its production
duty free, but eves duty of Is per cent on coffee i'm
ported from any other place than the place of it's produc
ton. For the last twenty years, under this and similar
clauses in the older tariffs coffee has been imported from
Singapore free Of duty Yesterday however Of the