The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-18
FINANCIAL AND CONNER ClAL.
WEDNESDAY, A

WEDNESDAY, Aprii III
The war excitement and the movement Of troops
continue to be the sole topic of conversation in the
street. and business is unusually dull. The pros
pect of new war loans coming on the market tends
to mpart rather more activity to money, and rates
are shade higher. Capitalists are exercising
more discrimination in their choice of paper espe-
cially single names; everything Southern is avoid
ed. Wholesale reputation of Southern debts
due to the North appears to be generally antici-
pated.
We had another panic in State stocks to-day.
North Carolinas fell about 10 per cent yirginias
10, Mssouris I, Tennessees T. and even at this
enormous decline there were few buyers. The fall
is, of course, the fruit Of the that the border
slave States decline to fulfil their constitutional
obligation by supplying the government with
troops. People argue that o State which
fails to perform one obligation cannot be relied on
to perform another. United States securities also
fell off, the prospect Of more government loans.
we new skies declined l "a, the IL per cent Trea-
Try notes 2. These latter are the cheapest tenn
Dborary investment on the market at the present
time. Speculative stocks nuctuated freely during
the day. In the morning they were generally bet
ter; In the afternoon they fell Off, closing heavy.
Illinois Central to 67, but sold in the after
noon at ian advance, however, of "a over yes
terdays price. New York Central was pretty
steady throughout the day at 1871, being an ad-
vance of a since last evening" Erie rose 1%s;
Hudson, al Reading, "a; Michigan Central, II;
guaranteed, "A; Toledo, a. Galena declined l,
and Rock Island q. Harlem was steady. The
business in bonds is moderate. Spectators are
divided about the effect Of war on Western secu-
~ %io tl,a
business of the roads connecting New York with the
great West and that the accumulation Of capital
here must lead to a stock speculation. The bears
cay that nothing prospcrs during civil war, and
that confidence which is the essential part of spe
eulation, will DO destroyed by the first clash Of
arms. Neither party are operating very vigorous
". The following were the last quotations Of the
day:-United States SIS, "a, so 50: Tennessee
ca, 81 So Virginia 6's, As 4614; Missouri 6's,
40 49I..; Canton, 10 IL; Cumberland Coal pre-
fcrred, as Delaware and Hudson Canal, IS So;
Pennsylvania Coal, n a 7s; Pacific Mail, 7iL IS;
New York Central, 72L 72a4; Erie, % 23}s;
Hudson River, 3T'4 $50; Harlem, IL 1914; do.
preferred, 80 49, Reading, 33H 81; Michigan
Central, 46 a 4e94; Michigan Southern and North
ern Indiana, l3sS Ia; do. guaranteed, 3OI a3lI1;
Panama, log a 1857; Illinois Central, 64l4 64'4;
Galena and Chicago, 6454 6s; Cleveland and To-
lcdo, 26s. 81; Chicago and Rock Island, 20 q
431A; Chicago Burlington and Quincy, 65 6611t.;
Milwaukee and Mississippi, "a .; La Crosse and
Milwaukee land grant bonds, 10; Illinois Gen.
trail bonds, OIL 92s4.
Virginia State skies sold t:.day at forty-seycn
and half cents on the dollar. A few years ago
they we're in demand, at premium, for banking
purposes; till within few months they never fell
below 30 95 only week ago they sold at 20.
The decline from 95 in October last TO Az to-day
has been caused by the apprehension that Virginia
will sece&e from the Union, under the leadership
Of broken down demagogues like Henry A. Wise,
Senators Mason and Hunter, Messrs. Pryor, Daniel,
Garnett &c. In this event our financial commu-
nifty reckon that she would not be able TO pay the
interest on her bonds, or to keep up the sinking
fund provided for their extinction at maturity.
Virginia owes In round numbers, about ga ,OO0,0OO
Not quite half Of this debt, say sle,0ooooo was In
Cured in aiding the railroads Of the State. Since
their completion several Of these roads have done
80 well as to relieve the State from all concern
with regard to the interest on the advance made to
them. The Virginia and Tennessee, and the Rich.