The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-20

.icsse VI shipments OF o"f to Europe; prices At
the leading markets just y !, belief that supplies
VIII be needed from here 81, ughout the summer.
We cannot report any change in the money
market. Money is offered in excess of the de-
maid. in Wall street, at five per cent and very
choice names will pass at the same figure. The
average rate for first class paper remains at
6a7.
The advance in foreign exchange noted yester-
day was well maintained to-day. Bankers
fused to sell under 07 for sterling and $3.50 for
francs, q - parties who wanted bills gave those
rates. Commercial bills sold at los log 1867.
good bills being scarce and bankers very careful.
At the close of mail hours the market did not ex-
hbt quite as much strength. II seemed as though
most Of the buyers had supplied themselves in
anticipation Of further advance.
Duless continues the feature of the stock
market. Operators would welcome any news,
bad or good, in order to stir up stocks and cause
fuctuation one way or the other. 1t seems to be
generally supposed that while good news would
put stocks up very rapidly and vigorously, bad
news would hardly depress them much--so much
trouble has already been experienced and dis
counted. This, however, only applies to specula-
tive railway stocks. In the event of any trouble
which should render the secession of the border
States probable, the decline in Missouris, Ken
tuckys, Tennessees aud Virginias would nm
doubtedly to heavy. These securities have not
been in good 0dor since the election. The Bailey
robbery, and the doubt whether the government
could not reclaim the stolen certificates under the
rule coreot emptor, first operated to depress them.
Next, they were hurt by the holding OF secession
conventions and the discussion of disunion. Pre-
JUDGE against them went far that several bank
ers who had plenty of money to lend on Erie and
Cleveland and Toledo would not advance dollar
On Nirgjnas. Recent events, and especially the
conservative action of Tennessee and Missouri,
have rather tended TO improve the public estima-
ton OF these bonds; bat they have not been assist
ed by the speech delivered yesterday by Senator
breckenridge, OF Kentucky. Several parcels were
sold this morning under percmptory orders. Gov
ernment securities continue in brisk demand, with
out any material change in price. The banks and
bankers who took the last two government loans
are realizing average profit OF per cent by
the operation. The Western shares were all inactive
to-day without auy1na,crial change in price. Cen
trail fuctuated between 6S14 and - with the usual
speculative business. Erie fell Off n Hudson 70,
Reading "a, guaranteed on the other hand Ca
lena advanced -, and the various issues Of the
Eic and Hudson were also higher. In the af-
ternoon the market was shade lower. and closed
dull. the following being the quotations. United
States SIS 1874. ss14 s911aa; Tennessee 6's, "A
7ih; Virginia G's, 7719 a 777S; Missouri 6's, Ga
B1G Canton, AL 10; Cumberland Coal prefer
red, a 8; Delaware and Hudson Canal, 80 a 90;
Pennsylvania Coal, rs q so; PaciicMail Steamship,
Sc a s51as; New York Central 7s5k 7sJIx; Erie, 32
a 80; Hudson River, 44l1I 44224 Harlem, Isl
1914; do. preferred. 3s1 a 3Sls; Reading. 4aA
43a {; Michigan Central, 81 57H; Michigan South
ern and Northern Indiana. 1914 a l6ss; do.
guaranteed, S611s 364; Panama, lis q llo; Illi-
nois Central, so1s a s034; Calcna and Chicago,
M ny; Cleveland and Toledo, 34sS = 3lyss;
Chicago and Rock Island, STA 57TS; Chicago,
Burlington and Quincy, 7l1s Y; Milwaukee and
Mississippi Ii u; La Crosse and Milwaukee land
grant bonds, Is a Is; Illinois Central bonds, LOO
lOOL.
AS some Of the papers seem bent ON promoting
Mr.. Spinner, exM q. from this State, to the Office
Of Assistant Treasurer of the United States ut this
port, it may be AZ wch to state that that gentle
man has been appointed Assistant Secretary Of
the Treasury at Washington, an Office Of very Sc
condary Importance involving mere clerical
duties. in saying this, We mean no reelection on
Mr.. Spinner, who is understood to be capable
and honest man. No successor to Mr.. Cisco has
yet been appointed. In selecting his successor
the President will do well to remember that the
success Of any pecuniary negotiations which his
admins tTation may need TO make will depend
largely upon the character and The capacity of the
United States Assistant Treasurer at New York.
lie should commend the undoubted respect and
confidence Of our business community.
The street is full Of rumors about new govern
ment loan. 1t is known that the administration
viii need more money in a very short time, and
there is some talk Of Il private negotiation Of six
o. eight millions under the Tariff act. IL il to be
hoped that nothing will be done privately, but
that il the government needs money il will call
for il openly.
1t would seem, from the following article in the
New Orleans Picoy;ne that the rumor TO which
We gave currency the other day, to the effect that
{S,CG0,000 of the new Southern loan had been
placed in New Orleans, was incorrect. The rumors
Ia the Charleston papers about subscriptions By
South Carolina banks arc not Ia be relied on they
contradict each other. The Bicdyatae says
a, this jlnetuie the govcrnnsnt ic2n Tor fifteen
ml'tns ptescnis gooa iiein Tor Investment II "
uii, the mak,t, ana &C unCo stand that the secfe
tary OF tire Treasury prepared BIDS We
III here ofgc to tskis " tee un On ps lotto GROUNDS
We recommend II rs first car security good bei ond all
cseutuqiy. The payment OF atcreet ana pfincipal is
la sr,ccd b. export duy % one eighth Oh ceu per
p,nc ca cotton. Tho bonas bear per ccot interest,
winch pt.ony high for government stock
they mace rayabir IA ten 5cy,e .ct us see no~ The
fp OF Tho pru :ipI aud intarest ~h operate,
s.n that The surplus rctaiDiug nilnaiy from tue tax
8ppnto y, puI,hae 81 the outstanding eoads at
ar Tc llso assume, Tor areuucot sakc taa the .x
port vii, not exceed tour Lais OF ia pcr AMMAN
though peOic the cxpuAton OF ten yeas 0vcrtop
millions The tsS at tho average weight, Viii Ufltg
~ gfiy ak ucats per bale
IpiEcagal mi rtI yarytss
.Tst yoLr......... 100000 100 UVO l,0sV vU0
second year........ ~ 500 900 l.ilo,cO0 1,iK3W
ibi q ycar......... lz.oooetU Uso ga t,xLo 90
t0syih yeaF........ Ill 62s ia esy,SVV 1,3lc, 100
~ 10 al3 1