The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-07
FINANCIAL AND CONNER GAL.
WEDNESDAY, March 6-6 P. M.

WEDNESDAY March 6-6 +. M.
II was understood in certain circles to-
day in Wall street that the administration
Of Mr.. Lincoln had determined upon policy
which would render collision with tho &C.
cessionists absolutely impossible. Details are
not known; but parties who ought to know have
been heavy buyers ofstocks fer the past two or
three days, and other circumstances corroborate
the story. despatch published in . New Or
leans paper, and reproduced in our editorial
columns, confirms it emphatically. Wehave rea-
son to know that that despatch was sent from
Washington to New Orleans by leading mer-
chant of this city, who has Q house at
New Orleans and that the statements there
in made were based upon information
obtained from Senators Seward and Crit
tenden. The favorite theory among the
few who were to-day in possession of this intehi-
gence was that Mr.. Lincoln will receive the Com
missioners Of the Southern confederacy as repre-
sentatives of the dissatisfied portion Of the Amer-
can peoples that he will treat with them, and that
in proposing something in the nature Of national
convention he will agree that the forts shall cease
meanwhile to be source Of irritation to the
Southern people. As to the collection of the
revenue it is obvious, as stated in this mornings
HERALD, that in the present state of the law the
thing is impracticable. If, therefore, the posi-
bility of fight about the forts be removed
either by their surrender to the Southern confede
rscy, or by their retention under charge of SER
gesnt and couple of men only-civl war would
seem to be indefinitely postponed, and the pros
pect of recovery of business very cheering in
deed. 1t was believed this afternoon, by persons
not generally misinformed that this solution of
pending difficulties was actually settled. Stocks
which fell heavily in the morning recover
ed their tone in the afternoon, and though
the pressure of all kinds of stocks for sale
by the bears prevented any material advance
in the market, prices were II to q per cent
higher all round than they were at the first board.
Business was quite active some heavy orders
were executed by commission brokers, apparently
for the clique which, as we stated above, has been
buvinc largely all the week. At the close the
market was steady, and the quotations as fol-
lows:-Tennessees, u "a; Virginia 6's, "a
76; Missouri 6's, 64H "a; Canton, IA Is;
Cumberland Coal preferred, 6 8; Pacific Mail,
SO a 81; New York Central, 76T II; Erie,
3lL 49,; Hudson River Az q As; Harlem,
l5L II; do. preferred, 3s54 a 49, Reading, Az a
"A; Michigan Central 55H "a; Michigan Southern
and Northern Indiana, Is rs do. guaranteed, 341as
ass; Panama, ll4H ll5; Illinois Central, 77s4 a
70; Galena and Chicago, 69a 20; Cleveland and
Toledo, SO q u; Chicago and Rock Island, 81 "a;
Chicago, Burlington and Quincy, 20 "a; United
States 6's (Ssl), 9O2 81.
The money market is active. Call loans go at
6a7; the best commercial names at the same
rates; names less popular at all kinds of rates,
from and IL upwards. The Sub Treasury is dis
bursting money freely, and there is every prospect
that the money lately taken from the banks will
soon find its way back. The difficulty this
mer for these institutions will be to employ their
capital.
The following was the business of the Sub
Treasury to-day
Receipts 1898 694 O.
Customs :. OBSERVATION-DISCLOSURES. 5000
Payments NEUTRALITY-SUSPICIOUS.. 43I 264 80
Balance ..........................s Ol3733 IS
The exchanges at the Bank Clearing House this