The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-12-04
FINANCIAL AND CONNER ciAL.
TUESDAY, Dec. Sc P. M.


Presidents Message which will be found on
srpage, ia calculated to reassure the public
lid and satisfy the people that the present adj.
ministation proposes to pursue conservative
course at home, and conciliatory though firm
policy towards foreign nations, II imparts no new
information with regard to the state Of the finances,
and the public must be referred to the report Of
the Secretary of the Treasury for light that sub
jet. In effect, the whole question Of raising
money for the prosecution of the will probably
be devolved upon Congress.
There is no change in the money market. Call
loans may be had everywhere at SIX per cent ana
parties Offering money to the old established houses
get no than five for il. Paper is very scarce'
dIst class names pass at a oIs
Foreign exchange closed to-day rather more
firmly than on Friday. Bankers asked 1857 1919
ror bills on London, and 5.lGA a lSA for Paris'
Very little was done, however, at these quotations,
and at the close Of business hours line OF bankers
bills was sold at l09s%. The state of our foreign
trade and the certainty that Congress win raise the
duties in the event of importations reviving, DO
act justify any advance in the price of exchange at
the present time.
AT the opening to-day the stock market was dull
operators generally seeming anxious to get the
Presidents Message before they moved. On the
strength Of the duness the bears put out their OPP
tons with some freedom, and marked down the
price Of Central "a Erie "a, and the Western shares
in proportion. After the board, however, the low
quotations ruling seem to have tempted the public.
and large amount Of outside orders were sent to
The commission houses. The fulflment of these led
to general rally in the mar6etas there is in fact
no stock seeking purchaser--and prices rallied
TX per cent all round, the market closing steady.
Tho tone ofthe Presidents Message, and the general
aspect Of political affairs are not calculated to en-
courage short sales; any day may witness re-
covery Of public confidence, in which event it
would be impossible for the bears 10 cover their
present heavy interest without causing a substan
iai advance. The following were the closing quota
lions of the day:-United States 6's, registered.
1881, 89?s 90; do. G's coupon, 1881, 931s 1914;
do, 5s, 1871 50 S21&; Indiana 5's, = 70; Viz
ginia SIS, 46 As; Tennessee 6's, Al 4lL; North
Carolina 6s, GO 81; Missouri 6's, 40 a Az; Pa.
cifc Mail, S6L 81; New York Central, 77s4 71Is,
Erie, s0Is 81; do preferred, 521a u b224; HuaSon
River, 3714 371aa; Harlem IL l21 do preferred,
asI 80; Reading, "a 3i1ls Michigan Central,
Is 1879; Michigan Southern and Northern Indiana,
i7H l7ss; do. guaranteed, 36H a 361aa; Panama,
t09 lll%; llnois Central, COZ COZ; Gaiena
and Chicago, 70 a 1911; Cleveland and Toledo, 321l
32A; Chicago and Rock Island, 81 a 5214; Chi
sage, Burlington and Quincy, 5711f a so; Delaware,
Lackawana and Western, Go a 70; Milwaukee and
Prairie du Chen, Is 20; Illinois Central bonds, rs,
s7H ass.
The banks paid into the Sub Treasury this morn
ing So, 100000, being the eighth nstalment Of ten
per cent on the second $50 600 900 loan. The Sec
rotary Of the Treasury gives the banks notice that
The two years six per cent Treasury notes will not
be received in payment of the United States funded
stock, negotiated a fortnight ago, at 901l. The
preparation of these bonds goes rapidly forward
1t has been decided to issue them in denominations
Of $500 aud 81 900 with coupons, and 81 0oO 600
and $4,000 without coupons There are, we
believe no $500 coupon bonds Of the United States
on the market, except of the Oregon War Loan; SO
shat this denomination of the issue is likely to
be absorbed by persons Of moderate means.
The exchanges at the Bank Clearing House this
morning were $l9l97,s 800 40, and the balances
81 ,4l4 832 80.
The American Telegraph Company announces a
quarterly dividend Of two per cent (s2 per share),
payable on demand. The Portland, Saco and Ports
mouth Railroad Company has declared semi-an.
auai dividend of per cent, payable December 10.
The Mechanics Bank Of Baltimore has declared
senannual dividend of per cent, exclusive OF
Che State and city taxes, payable and after Mon
Day next.
The statements Of the Philadelphia banks for thc