The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-02-09
FINANCIAL AND COMMERCIAL
WEDNESDAY, Feb. SIS Pm.

ar f WEDNESDAY, Feb. SIS PM. 70
The non-arrival of the steamers now due from
Europe tends to increase the prevailing dulness in
the money and exchange markets. We hear of
nothing doing in foreign bills; rates are nominal.
Money continues easy at last quotations, say
for call loans on approved securities and 6 q
for paper-the latter being the regular rate the
former the rate in exceptional cases. There has
not been much done in paper to-day. The new
Treasury notes, bearing 6 per cent interest, are
current at a per cent premium. The proceed
ings of the Senate yesterday have injured the
market for Post Office certificates; holders are
annoyed at the attempt to embarrass the Dill by
coupling it with the abolition of the franking pr
vilege. In the present state of the money market,
few days. or even weeks, delay would however
be of no material consequence.
The business Of the Stock Exchange continue
limited, but prices are well sustained. Missouris,
Galena, Rock Island and Central continue to be the
most active speculative stocks of the day. All
these stocks are freely sold by the bear jobbers;
but with the exception of Galena they hold their
own well. Galena is depressed by the free bear
sales, which appear to have intmidated some hold
ers into selling at decline. We know of nothing
in the circumstances of the company which should
justify discount of 42A per cent the shares. In
February, 1859 dividend of per cent was paid
out of the profits of a very diminished business;
this month, per cent is being paid, though the
business Of the road last year was, in consequence
Of general and well known causes unprecedentedly
light. The opinion of parties qualified to judge is
that another dividend of per cent will be paid in
July, and that, without some fresh revulsion regu.
lar dividends will be resumed thereafter The de.
cline in the traffic receipts in December and Janu
airy is hardly more than the increase Of one
Ct the good weeks in October or November;
and we are assured that the traffic will show an in
crease in March, April, and henceforward The stock
sold freely to-day at 57a, which was bid between
the Boards; in the afternoon the closing price was
5l, against 572 bid at the close yesterday. Rock
Island was largely dealt in at yesterdays figures;
the increase Of traffic on this road appears to be
permanent. Central was steady, closing in the
afternoon at sol, against 70j at the close yester
day. The Pro Rata Freight bill will, we presume,
come up tomorrow in the Legislature, and will
probably pass the Assembly; the members of that
body are mostly small country politicians, Who
would barter away the trade Of New York for
free pass on q railroad. Michigan southern, old
and guaranteed, advanced about one per cent each.
In other stocks there was not much change to-
day. State stocks continue to be inquired for. and
prices remain steady. The market this afternoon
was more active and stocks closed firm at the
following quotations:-virginia 6's, s2A 80; Mis-
souri, SIS, soi /; Canton, l6i IL; Cumberland
Coal, lS3 l6; Pacific Mail, so a 4; New York
Central, 7oi . I; Erie, 81 as; Hudson River, 40 q
4; Harlem, a !; do. preferred, "a al; Reading,
500 4; Michigan Central, $50 81; Michigan
Southern and Northern Indiana, 81 Q 4; do. qua
ran.eed, lii a Is; Panama, 1914 1872; Illinois
Central SC a 1; Galena and Chicago, 57i a IS;
Cleveland and Toledo, lsi I; Chicago aud Rock
Island, 62a Z; Illinois Central rs. SIS 50.
The following table viii show The condition ofthe
banks in the tour leading cites og sae Unios, pee
their last ststemeD's:-