The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-14
FINANCIAL AND COMMERCIAL.


call, with tendency to increased ease.
The stock market was dull to-day, and prices |
were irregular. Public securities were generally
better; railway stocks uniformly lower at the first
board. Ever since the prospect Of hostilities was
deferred steady consumptive demand has existed
for State stocks and United States securities, aAd
the price has steadily improved. United States
skies this morning rose "a per cent; Treasury notes,
Il; Tennessees, "a Missouris, u, and several
classes of railway bonds from "A to "a. On the
other hand New York Central declined "a Erie,
"a; Hudson, n; Reading, "a; Galena, 70; Illinois
Central, n; Toledo, n; Rock Island, u. The
decline seems to be mainly due to The
realizations Of yesterday; the causes which
have affected the market for the past
day or two-the prospect Of peace, the
plethora Of money and the dulness of business
continue to operate. After the board the market
improved fraction, and continued steady till the
close, when the following were the quotations =
United States SIS 1874, SO 80; Tennessee 6's,
744 rs; Virginia 6s, 1874 a 49, Missouri 6's,
66ss 66a4; Canton, IA a Is; Cumberland Coal
preferred, IA 7L; Delaware aud Hudson, 8924 a
90; Pennsylvania Coal 1914 n; Pacific Mail,
s51l IS; New York Central, 1875 1871; Erie,
321s a 3214; Hudson River, 44a% As; Harlem,
1874 1871; Harlem preferred, 3sH q 80; Read
ing, 431a a 4324; Michigan Central, 571S STA;
Michigan Southern and Northern Indiana, l5s4 a
1879; do. guaranteed, 35s4 36; Panama, ll511 a
ll54; Illinois Central, 500 a 81; Galena and Chi
cago, 7O24 IL; Cleveland and Toledo 341I a
3424; Chicago and Rock Island, 5724 q So; Chicago,
Burlington and Quincy, y a 72s4; Milwaukee and
Mississippi, ny l21a; La Crosse and Milwau-
kee land grant bonds, Is l6; Illinois Central,
97% a SO.
The progress of political events bids fair to in
fict severe blow upon the commerce Of the port
of New York, and to depreciate real estate in this
city in a marked manner. The government of the
Southern confederacy has re-enacted for the pre-
sent the tariff of 1857. This was done in the per-
suasion that Congress would not be so insane and
reckless of the true interests of the country as
to adopt the Morrill, taif-the idea of the South
em leaders being to avoid any unnecessary COM
plicatons or business embarrassments during their
transition state. Unfortunately for the North the
Congress at Montgomery overrated the wisdom of
the Congress at Washington, and the Morrill, tariff
became law. The consequence is, that after the
LIST Of April next New Orleans will take stride
towards becoming the chief importing port in the
country, and New York will begin to fall towards
principal articles of import being nearly
twice as heavy at New York as they will
be at New Orleans, the South will actually
be forced to do its own importing and, it is not
designed by the Southern confederacy to establish
any interior custom houses, and as we will have
none, it will be cheaper for the people of the Mis-
sissippi Valley, even far north Minnesota, to
import via New Orleans instead of via New York.
Such articles as gunny cloth, blankets all kinds of
woollen and cotton goods-which are now import
ed to New York for the Southern market-will,
after the lst proximo, be imported direct at New
Orleans in order to save the extra duty imposed
upon them by the Morrill, tariff. We need hardly
add that the change will make surprising dihe-
renee in the business done here and at New Or
leans. Last fiscal year, out Of an aggregate i'm
portation Of 1862, l66, 254, New York received
1898 ,692 ,94l, and New Orleans only $22 1872 ,773
During the fiscal years ls6l-62 the imports
viii, perhaps, be nearly equalized between the
two ports This is the inevitable fruit of the new
tariff. The protectionist leaders in Congress have
inflicted upon the North by this tariff the worst
blow that It has received since the present trou-
bles began, and have rendered to secession a SER
vice which should enttle them to the eternal gra-
tiude of the enemies of the United States.
We are informed, and state, for the information
of merchants, that goods now in bond here may be
sent to any port in the seeded States on the de-
livery to the Collector here of the usual transpor-
tation bond; but that bond cannot be cancelled ex
cept on production Of certificate of the payment
of duty on the goods, signed by United States
officer. Shippers cannot send goods to the seeded
states by executing such bond as is now given
when goods are taken out Of bond here and ship
ped to Canada.
The first seizure at this port, growing out Of the
resignation Of United States Collectors at South
ern ports, took place yesterday. On or about I'd
January last the schooner Restless, of Great Egg
Harbor, N. j., sailed from Philadelphia to Mobile
under the usual coasting license. At Mobile she
got cargo for Havana. Her captain, as usual,
surrendered his license and applied to the Collector
at Mobile for register. The Collector replied that
he had ceased to be United States officer, and
that he could not furnish United States register
The captain entered his protest, had it counter
signed by the Spanish Consul at Mobile, and sailed
for Havana; whence, after discharging and re-
loading, he sailed for this port arriving here yes
terday morning. On his arrival the schooner was
instantly seized by Mr.. Schell under the 9Th sec.
ton Of the Act for enrolling and licensing ships"
&C., dated Goth February. 1898. We believe that
this is the first of the kind which has arisen at
this port since the secession Of the Southern
States.
Tho business of the Sub-Treasury was as follows
to-day
heceipts tl56,66 W
For customs. ......................... 1ol 900 90
Payments. Observation-Disclosures. 445 $50 90
baance. oosy,So4 %
The exchanges at the Bank Clearing House this
morning were $ls,576,346 40, and the balances
$685. 70 20.
We are informed by friends Of the Paris house
Of Adolphe Marcuard Il Co. that the rumor with
reference to the suspension Of that house is, 80
far as they know unfounded.
The statement Of the United States Treasurer for