The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-16


decrease Decrease $3.50 $50 $3.50 ,.,,i, l'e' ses
The changes are not very heavy. The increase
of loans is due to the negotiation of government
bonds and Treasury notes; but for these negotia-
tons the loans column would probably have
shown decrease. A decrease in the specie average
was confidently expected, az the government has
received something like So 900 900 in gold from
the banks within the past fortnight; but it seems
that the receipts from Europe, California and the
Mint keep tho reserve full, notwithstanding the
depletion. The deposits increase rapidly, owing
to The general stagnation in business, and the diff
Guilty which is found in using money safely and
probably. We may now expect further mo-
derate increase in the specie reserve for some
weeks to come.
The money and exchange markets are extremely
dull. There is absolutely nothing doing at the
exchange brokers' and the banks are very Ill sup
. piled with paper. On call, the supply Of money
at per cent continues quite large. Bankers are
asking 1919 x for their sterling bills, aud
5.271a 80 for francs, but are selling little or
no,hug. Commercial bills are offered at los u q.
The stock market opened this morning at
considerable Decline and with considerable ac-
tivity. The actual commencement Of war seems
to have frightened good many holders into sell
ing and the bears offer their options with con-
siderable freedom. At the close of the morning
session, however, rally took place, and stocks
all rose. They remained steady throughout the
afternoon, closing rather unsettled, after very
large business. Governments declined about l
per cent this morning, the prospect Of Few
loans being required. The board Kisses any MEM
Der who tries to take any advantage of the
prospect to sell thcm short. STATE stocks
continue to decline Missouris fell off
3 per cent, Virginias 21s, and Tennessees
2. At the morning board the heaviest decline was
in Illinois Central, which dropped per cent with
out cause; Reading also fell per cent. Perhaps
this stampede among holders was after all to be
expected. New York Central declined /; Erie
~; Hudson, l. Harlem, IA; guaranteed, 2; Gale
Ia, 2; Toledo, b; Panama, 2; Pacific Mail, -.
Rock Island, 3; Burlington, 234. The afternoon
prices showed an average rally of "a x from the
depression of the morning. The closing quota
tions Of the day were as folows:-United States
5s, 1874, 81 sc; Tennessee 6's, IS 6S14; Virginia
6's, Gi24 q IS Missouri G's, OK y Canton,
1lI IL; Cumberland Coal preferred, q Il
Delaware and Hudson Canal, Ss a 80; Pennsylva
MIA Coal, ~ a 70; Pacific Mail, - 1914 New
York Central, 72H 722s; Erie, 81 2214 Hud-
son River, 37H 3711 Harlem, 121a I224 do.
preferred, 33A $3.50 Reading, 81 32l19 Michi-
gan Central, 45A 46114; Michigan Southern and
Northern Indiana, 1917 l3s4; do. guaranteed
3016 soy Panama, 1867 a lOS; Illinois Gen.
trail CAS- Giss; Galena and Chicago, 66le CO..;
Cleveland and Toledo, 1854 "a; Chicago and
Rock Island, As 45L Chicago, Burlington and
Quincy, 66A 67 Milwaukee and Mississippi
Railroad, a 9; La Crosse and Milwaukee land
grant bonds, a 10; Illinois Central bonds, 93sk
a 9414
The war feeling was even more apparent to-day
in financial and commercial circles than on Satur-
day. hearty unanimty pervades the public
mind, which has been so slow TO hindle to the
fighting point. Every one-democrat and repub.
lican, conservative and radical-agrees that the
government must be supported with money and
men. and the old Union Of thirty four States
must be preserved at all hazards, and at any ex.
pense of life or means. And the closer the sub
ject is examined, the clearer people see that the
evils Of the war which Is now forced upon the
North viii fall, not upon this section, but upon
the rebel States. II is not New York and Boston,
but Charleston, Savannah Apalachicoa, Mobile,
New Orleans and Galveston which viii lose their
trade in consequence Of the war. 1t is not in our
streets but in theirs, that grass will grow this sum
idle, hungry men are likely to besiege the govern
ment with mcnaces and riots. For while here at
the North abundant supplies Of food will pour
regularly every day from the great productive re-
gion Of the Northwest, and the military and naval
preparations Of the government will afford employ
mcnt to all the idle mechanics and laborers Of
this section Of the country, in the south
the closing of the ports viii necessarily throw out
If hun Of
the interruption OF commercial intercourse with
the West will deprive the Gulf States OF the sup
plies OF food which are necessary for their subsis
tence. 1t is fast becoming apparent to the more
foresghted among our fnanciers that, 80 far as
Now York city is concerned, the business pro
duced by tho war viii be greater in amount than
the business destroyed by IL; that the progress Of
hostlites must drive capital to this city in search
OF safe employment; and that, Notwithstanding the
loss Of the Southern market, New York will do
better business THE summer and next fall than
any one has anticipated. It is hoped that the
President viii lose time in closing the Southern
ports. five must have war, lea it be vigorously
prosecuted, and let its evils be made 50 palpably
felt that the value OF loyalty and peace shall here
after be appreciated.
We understand that the Galway Steamship Com.
pany arc considering the propriety Of purchasing
the steamship Vanderbilt. on behalf Of the mari
time interest Of the nation we protest against the
transfer Of this fine ship to foreigners II is enough
that the Adriatic now carries the British flag.
Surely, when the government needs q navy so
badly, IL would not be bad operation for Mr..
Welles 10 secure the fastest steamer in the world
as q transport vessel.
The business Of the Sub-Treasury was as follows
to-day.
keceipis S1ss,,W OF
For custonas Observation-Disclosures. SO 900 90
payu,ents NEUTRALITY-SUSPICIOUS.. 2ts,0V0 OF
Balance 10 ae2 1888 70
~, 4,