The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-20
FINANCIAL AND CONNER GAL.

The money market continues 70 exhibit symptoms Of
hurry and unessiness At the regular bill brokers we
hear OF no business done In first class paper
PER cent hui in the street transactions at eight and nine
much talked of, and people who have money 10 lend
in better spirits than usual The supply call in the
street appears larger than has been for some Time the
rate i've, but II the present relation between demand
and supply lasts, It cannot be maintained The
mark will apply 10 the discount market. Until the
soveregns of Europe begin to manufacture paper for
MARKET .he scarcity Of the article must prevent the per-
manent establishment Of high rates OF discount Exchange
is active and firm 1t previous quotations The steamers
on Baturday-the Ocean Queen and the Kapgaroo-wfil
probably take out between $500 900 and 81 oo and
very large sum will probably go forward In the Persia
Wednesday
The jobbers Of Wall street and some of the bank on
endeavong to create panic about the shipments
of specie How little prospect there is OF any
which need disturb the public mind reference to figures
will show At the Of this year the banks
of the United States held in round numbers sos 900
10 specie against S4 900 600 at the commencement OF
1885, and Of s5S 900 900 At the
the three previous years. Since then export from
this port has been in round numbers $40 O0 against
$1l to date last year-he export from other
ports being about the usual average: thus setting down
the export this year at O0 the banks
still s2l 500 600 atronger than they at the
time year. and 900 stronger than at the
date Of former years. In point fact the flow Of bullion
into the banks has been steady that have
abled to ship said, $40 ,o00o 900 to Europe, and
to pay $40 600 to the government, without making
much change the position Of the leading banks, the
following table will show
SPsc1E IN BANKS New YORK, Boston, PHnADEL.
PuIA AND New ORLEANS, AT The DATES ANNEXED
January a. 1859 before the award Of the
government loan) OBSERVATION-DISCLOSURES. 30, 298 1888
March ID, 1859 (after paymen. Of the govern
plens ioan os,o4o,IoI
may 10, 1907 oo,o4o
This think is pretty conclusive against the prospect
OF panic It. must also be remem bered that while tho
banks much stronger than usual in SPECIE their
loans much less than usual The weekly return Of
New York banks s deceptive, il includes advances
made overdue treasury notes, which redeemabe
at the Sub Treasury in gold sight, and government
securities, which, in Of emergency, coud readily
turned into gold abroad For the present, the specie
shipments may give feyerish tone TO the market, but
they involve no real danger.
The stock market steady 10 day the chief feature
being rise in Central (which however, was not sus.
tanned TO the cose) predicated Of combina
ton between the Central and Erie against the Southern
lines Central opened day at about 72. between
The boards to a. in demand at the afternoon session
At 73, but fell off afterwards closing at Tx bid. Rock
Island not strong the price dropped 10 62 for cash.
and 6lT selers' options The other Western stocks
steady ct previous prices State stocks lower
to-day. Missouris sold freely at decline Of u per
There vigorous onslaught these and some other
securities the strength of the look of the money market
The new government loan dropped back again to l04A
Illinois bonds were done low as IS on sellers option
Pacific Mail continues steady at 74a IS. In the
afternoon ate lower again. and the genera
market had rather downward tendency Prices left Off
unsettled the following being the last quotatons-Misson
RS, ss34 q; virgniss, 95K Y; Canton, 1914 10
Cumberland preferred, II x; New York Central, 727s
ais; Erie, TX e; Harlem, 10 X do. preferred, 81
n; Hudson, oi,s NJ Reading, AZ 4; Michigan Gen.
trail, AN 40; Michigan Southern, 9X 10; do prefer
red, 80 h Panama, ll71s 1l8; ninolE Central,
SO; Galena 63z ca Toledo, q II Rock Island, 62A
~ Illinois Central bonds, 1914 X; Pacific Mail,
74ah
ol, essntatives OF the New York Central and Erie
hsve been all day in session. discussing the points
between the two roads, On the subject Of pas
feDgeT fares they agreed without dlculty; but
10 reghs the Central refused 70 make any change
t the Southern roads bis Tnis the Southern
lines refuse 20 do to-day the President Of the Pennsyya
MIA positively declines negotiate further 90 the basis in
by Eew York Central The conference there
fore adjourned sire de As The matter stands the fight
will be wed with vgor than ever and until the
to reason there Hil be prospect of settlement
The following the business of the Sub treasury
otsl receipts OBSERVATION-DISCLOSURES. s2s4 a,O IA
for cusionis.. ...................... lbs 900 o.
iq6 ~
pA1nee'.'.'.'.'.. 1888, 1856 63
The exchanges at the Bank Clearing House this morning
were s24 2s9, 6oS 49, and the BALANCES 81 655 60
10 the Circuit Court Of Alegany county, Maryland be
fore his Honor Judge Perry in the of the Cumber
land Coal and Iron Company against Allen NJ Sherman
William B. Dean and the Hoffman Steam Coal Company Of
Aegapy county the defendants moved to dissolve the in
junction granted parts 10 toe The was fully
argued rome weeks Judge Perry gave his decision