The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-05-03
FINANCIAL AND COMMERCIAL.

FINANCIAL AND COMMERCIAL.
49,
TauRspa Y, May &c P. n.
We mentioned yesterday d at Mr.. Chase haA
called for fresh loan Of neass1 $4,000 900 under
the act of June, 1861 That &c expires on the
22d Of June next, ard Mr. q base is doubtless
anxious to exhaust the authority it confcrs upon
him before it's expiration. TITS no likely that the
call viii be followed by any PA ectical results.
The act distinctly prohibits the ecrctary from
receiving any bid below par, anlaty resent UniteA
States skies are at q discount Of IL per cent.
When, after the expirat.on Of tho usuA
delay ii is ascertained that there are no bids as
par the Secretary will then he OF libe rty to dis
pose Of his Treasury notes under the act Of last
session, which he can do without diffcu lty. This
act Of ed June, 1860, will enjoy W enviablo
fame in the history Of American finance. 1t win
be recorded by the historian that the first negota-
ton under it was made by the traitor q )bb on
the 22d October, 1860, under circunssances which
render it certain that his object waste break down
the credit Of tho government; that tho
whole amount was nevertheless bid for. and
awarded, but that several successful bidders
emong others Messrs. Riggs Co., Marie & Kanz.
Lockwood & Co., Thompson BTcs., tsc.-refused
to pay up the amount Of their bids, On the ground
that the rebellion Of South Carolina had liberated
them from their contract. He will report that tho
government tooksno steps to enforce tie bargain.
Finally, he will mention that on the LIST OF May Mr..
Lincoln's Secretary called for bids for tas balance
of the loan. with the distinct understanding that
it could not be taken. A sorry record.
The money market is very iuiL People arr
shy Of everything but the very choicest paper and
collaterals are closely scrutini2ed Rates for
paper-stncty gilt edge-are a 8; fer call loans.
sac.
In foreign exchange little or nothing Is doing.
The leading bankers ask lO5 but we presume thak
undoubtcd bills could be had at "a a * less.
Very little business WAS done to-day IN stocla.
but the tone Of the market was better and eyery-
thing advanced at the Arss board. Government
6's rose u. and Missouris Ii; New FORK Cen
trial, ~ Hudson "a Michigan Central, x; Illinois
Central, ~; Toledo, y; Rock Island Il yirgnias
fell 21s fewer bear contracts than usual happen.
ing to mature to-day. Nothing but the scarcity
of this and the other border slave State stocks
prevents their falling TO merely nominal price.
They are really worthless as nothing can prevent
a conflict which will ruin the States which issued
them. After the board the market was steady.
In the afternoon prices were goae7ally q fraction
better and the market closed very steady, the
following being the Isst quotations: States
"a 1874. 7e a 761t: Tennessee cis IA n 40. yiro;
MIA 6's, As A.; Missouri Gs, 4oi4 n a01<; Canton.
10; Cumberland Coal preferred, q 4; Della
ware and Hudson Canal, so 81; Pennsylvania
Coal, 20 IS; Psciic MAIL 81 q -; New York
Csn.ral. 70 a 72l<: Eric loa. n ~. Bnason P;ver
3sI< n 3ss.: Hayam. II l2iZ. do. pre rerred ao,c
a n. Reading. 3la. ~, Michiran Central. AZ =.
,45II; Michigan Southern and Northern Indiana, lS
!. a IA: do. guaranteed. osII n 2osI: Panama. lO,l<
a 100. ulinos Central. 5sL a 10. Calena and CHI
caro-. 57sI a 571l; Cleveland and Toledo. 2s,< a.
o3l<. Chicago and Rock Island. 37i< n 37s.: Chi
caro. burlington ana Quincy, Is $50: Milwaukee
and Mississippi. . or: La Crosse and M.xau.
- tail ,ront he,ss r a - rp;no;. ,sa,,ro, s,cna.
~ 800 e : = ~ sSs
81 50.
TIC buainees of the Sab Trea aury was a. scllowa
. -,
tommy
Receipts. ti8s 0A IS
-For custcxss. OBSERVATION-DISCLOSURES. - oeo %
Payments. 0et162 SO
Bsance..s.s. V,soJc3 o0
n IL yeported that the Ohio Iepisstu-e contain.
-. ,.,,,. : $1,000, - -. = .
plates ieBau<las asusPehsioh oi specie paymenas~
Indiana and other States will be likely TO speedily
follow.
seyton 4 Wainwright have rcyaoycd from No. II
William street 10 Insurance R,,i,aing No Az WaIy
| .. . - " $3.50
| street,
| The following are the Hnlson River Railroad
/ .o-r;nos Zoe
| earmbBsio
April, 1861 $3.50 750 90
April, 1890 1874 COS II
| -