The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-11
FINANCIAL ANo CONNER ClAL

WEDNESDAY,, April lO-6P.M
The bids for s., 900, 600 United States Treasury
notes, bearing per cent interest, and having two
years 10 run, with privilege of conversion into
twenty years 6 per ce Uoited States stock, will
be opened to morrow at Washington at ten o'clock
A. NJ The amount Of the bids will show Mr.
Chase what grave mistake he made when he
fused bids at 81 50l00, and tbereabouts for these
Sc 900 600 by the most strenuous personal exer
tons OF q few individuals, ana by sppeals to the
patriotism Of wealthy men ard bankers, The pre-
lminary deposits at the snb-1reasury' we're raised
by four o'clock this afternoon IT, $4,000, or there
abouts, and simultaneously meeting OF bank
managers resolved TO take most of the amount to
be awarded. The negotiation, at par, may there
fore be considered as Effected. But it has near
~ proved failure that Mr.. Chase had better not
repeat the experiment. he can probably appre-
ciate himself the Damage which this strained sue
cess has inflicted upta the public credit, and the
prestige with which HIS administration would have
begun il he bad simply accepted he highest bids
OF the So 900 900 offered him a week since.
There is no change in the money market The
disturbed condition of the country has induced
some capitalists to withdraw their funds from the
martet for the time; but there is so little paper
making, and 40 light demand for loans among
the brokers, that the Withdrawal attracts no
tice. Money can be borrowed in any quantity al
five per cent; it cannot readily be lent above four.
The foreign exchange market closed heavy for
the Africa. We hear Of sales of documentary bills
on London ut LOG, and Of bankers at 1917 ~ of
francs at 5.2GL, 27i[ and 30. The market looks
very blue.
There was another fan in the stock market to-
dav. The market was, generally, a declining
all dey bu. the heaviest fall only took place at the
close Of business hours. At the morning board,
State stocks were much lower. yrginas declined
3; North Carolinas, 2; Tenncssees, per cent.
MiSsouri-. which fell very heavily yesterday, raj
ried "a per cent. Among the railroad shares Pa
mama and Rock lsland were the only ones
that improved; they sold "a per cent better
than last evening. New York Central fell eff
~ Erie, u; Michigan Central. u; guaran-
tetd. ~ Harlem, y; Reading. III uEbois Cen
trai, *; Toledo, Ss: Ga, na, q; Pacific Mail. u.
After the board the market was rather ste adler;
Central advanced = per cent rut in the after
noon the downward tendency again prevailed. aud
everything dropped u n per cent. Il is nov
generally understood that IN actual conflict IL
liks ly to take place IL The harbor Of Charleston
before the end Of the week tii- prospect naturally
decreases all kinds 1T rrperty. Civil war would
fr time, at lenst, b. likely to annihila'e all
values on the stock EXctarge. 1hr following
were tic last quoisiioos Of the day:-renoes zee
Co. 7O3. ~; Virginia 6's, GO 691s; Missouri
Gs, 60 a GC14 Canton las4 a AZ: Cumberland
Coal preferred. IA a ~: Delaware and Hudson
Crnal, S. asg%; Perm yyaDia Coal, i6 a 81; Pacific
Mon, 10 a 7s1S; New ycrk Central, 754 "a
Erie, q q 2514 aud.ou River, 3o% 20: Harlem,
1875 ? ~; do preferred, 81 561S; Reading
Ssl. 3sa4; Michigan Central, 5ol4 a jc1a; Mich
gan Southern and Northern Indians, "a a IA;
do guaranteed. 80 a 32h: Panama. 10 III;
Illinois Central, 7o24 II; Gaens and Chicago,
'6sl4 6SH; Cleveland and Toledo 80 a 500;
Chicago and Rock Island, 49s4 q so: Chicago, Bur
lirgton and o4incy 60 a 10: milwaukee and
Mississippi, II IL; La Crosse and Mil ~aukee
land grant bonds, o. 10, Illinois Central bonds,
49, a95.
The Legislature at Albany il likely to adj )urn
without doing ~ much mischief t. ih- city and to
the commercial, nteresis o. h State 10 some of
It's predecessors. 1he Broadway Railroad bill has
ben kiled, The Albany and Suquehanna Rail.