The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-06-01
FINANCIAL AND CONNER GAL.

FRIDAY, May SIS P. n.
The foreign exchange market was only moder
ately active to-day. Bankers were buying pro-
duce bills at lO41I los, and selling their own ex
change at l05HaN. The cessation of cotton ship
ments, consequent upon the blockade, must cause
an advance in bills sooner or later, unless our i'm
ports of foreign goods should decline fifty per
cent.
There is nothing new in money. We hear Of
some sales of good paper at nine per cent. There
are still names which pass at seven. One million
OF the new government bonds arrived this morning
from Washington. Our banks are losing money
heavily this week, not only to the Sub Treasury in
payment of the loan, but also to the West, which
is taking over 800 900 in coin from us daily. The
State of Wisconsin has authorized loan for
war purposes of $l,OOO,0OO. The Ohio loan Of
81 900 has been all taken at par in that State.
The business at the Stock Exchange continues to
present the same features which we have noticed
for some days past. The only active stocks on
the list are New York Central and Illinois Central
which the jobbers of the Board and the street are
buying and selling on time, with view to frac-
tional profit on turn. The commission brokers
are doing little or no business. Stocks flow into
the street from outside very slowly, and money is
30 easy on call that the operators for the rise
experience no difficulty in carrying all that
Ia offered. Hence prices are maintained by
the scarcity of stocks at figures which are
neither warranted by the business of the
roads nor justified by the financial condition and
prospects of the country. Seventy cents on the
dollar is far too much to give for six per cent
railway stock like New York Central when the
new six and seven per cent stocks of the Northern
10 hall fho< NOTE. 10 n
fancy price for stock like Illinois Central, which
pays no dividends at all. Still, so long as the
bears continue to put out their short options
without considering where they are to get stock
Tor delivery, it must be expected that the market
will be maintained. There was further sup.
ply of slave State stocks from the West
zhis morning, which enabled the shorts
to make their deliveries with ease; vir.
ginias declined n, and Missouris "a. There
was no material change in governments or in
Pacific Mail, New York Central Illinois Central,
Gaiena or Michigan Southern. Toledo advanced
~ BOOK Island Il, and Erie a. At the close of
Inc BOARD the market stiffened up, and there was
A. one ume IN the street pretty active demand
ior STOCK ior delvery-especially Illinois Central
the books OF which open tomorrow. At the
second board the market was dull. hut nrcns
were no lower. Stocks closed firm, the following
being the last quotations. United States SIS 1874
zSH . 70; Tennessee e's, Az Az; Virginia ca
A5H q 451s; Missouri 6's, 4O1I 4Os4; Canton, a
3; Cumberland Coal preferred, q 51, Delaware
and Hudson Canal, s31l 81; Pennsylvania Coal,
~ q IS; Pacific Mail, 64A IS; New York Central,
72sss 72'4; Erie, 1871 231s; Hudson River, 34L
So; Harlem, lOH lO'4; do. preferred, 2514 a ~;
Reading, 3lH . 3lH; Michigan Central, 4l1. AZ;
Michigan Southern and Northern Indiana, liz a
IL; do. guaranteed, 261s %; Panama, 1887 lO5;
Illinois Central, 6911 692s4; Galena and Chicago,
b74 So, Cleveland and Toledo, 2314 232s Chi
.aso and Rock Island, 34sss 347s; Chicago, Bur.
ats's and Quincy, 54H SIS; Milwaukee and
1 - IL l3; La Crosse and Milwaukee
bonas a'," bonds as; Illinois Central Railroad