The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-02-21
FINANCIAL AND CONNER GAL.
WEDNESDAY. Feb. %

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WEDNESDAY, Feb. 20-6 p. M.
This has been dull day in Wall street. In first
class paper there is something doing at seven per
cent, but business is limited by the scarcity of the
right names. On call money is abundant at a s
per cent.
In foreign exchange there is nothing doing, as
usual on Wednesdays. The market promises to
open steadily for the Saturday mail.
The stock market was stronger to-day, and
prices advanced all round. Yesterdays demon
straion against the market appears to have led to
some few outside orders to buy, and none to sell.
Hudson River advanced II, Illinois Central l,
Toledo ~ Galena "A, Reading "A, New
York Central "a, Tennessees l, North Caro-
linas "a, Missouris x. Railroad bonds were
in less active demand. The bonds of
the Hannibal and st. Josephs Road were ~ per
cent lower, making decline of about 6 per cent
in week. The decline of course is based on the
famine in Kansas, which is running the business of
the road. Treasury notes were "a better, with
good demand. The Missouri election and the
speeches Of Mr.. Lincoln are construed favorably in
the street. The market was steady at the close,
the following being the quotatons:-United States
SIS Qs74), $50 81 Indiana State SIS, So; Virginia
State 6's, rs "a; Missouri State 6s, 654 66;
Canton, IA "a; Cumberland Coal preferred, a 8;
Pacific Mail Steamship, s414 n; New York Gen.
trail, 771a "a Erie, 3l11s 80; Hudson River, 44S
a "a; Harlem, 1914 q; do. preferred 1874 1914;
Reading, AZ "a; Michigan Central, 561s Is; Mi
chgan Southern and Northern Indiana, IA a ~ do.
guaranteed, 3l24 80; Panama, ia us; Illinois
Central, 1911 a "a; Galena and Chicago; 7lN
70; Cleveland and Toledo, 325s a; Chicago and
Rock Island 5714 a n; Chicago Burlington and
Quincy, 7l54 u; Illinois Central bonds, rs, 96
a97.
From all that we can learn we infer that the
amount of bids for the public loan to be awarded
on Saturday next will, at least, equal the amount
required by the government and may exceed it.
No general consultation has been held among the
bankers here on the subject. 1t is understood
however, that one or two parties are making up
combination bids for large amounts. very wide
difference Of opinion appears to exist with regard
to the rate at which the loan will be awarded. The
skies Of 1863 with only seven years to run, sold
this mornng-an odd lot-at 95. The brokers re-
port that to get $4,000 of them it would be ne
cessary to give 90 a 100. The new bonds are, Of
course, more desirable than the bonds Of 1868, as
they have thirteen years more to run. Much will
depend upon the action of Congress with regard
to the Small Treasury Note bill. If Mr. Shermans
scheme for raising money by the issue of small
notes be adopted, the 81 900 bonds to be awarded
on Saturday may enjoy the command Of the mar
ket for some time to come, small Treasury notes
would not compete with them. If, on the con-
trary, the action Of Congress be such to render
it probable that Mr.. Lincoln will have to borrow
more money under the act Of 1861, within
a short period, the new bonds will not
sell so WELL Something, too, will de-
pend on the action Of the New England towns.
If Boston and Hartford bid for the new loan,
it will probably sell better than il would have
done had the only bidders hailed from New York.
Judging from the tone Of conversations in the
street. it seems as though bids below ninety would
not be likely to be successful, while few appear
to think that there will be many bids over ninety
five. The prospect may change materially, how
ever, between this and next Friday.
The domestic exchanges are working more even
ly. From a table kept by Mr.. Van Week we per-
ceive that at New Orleans and Mobile the exchange
on New York is at par, SO that shipments Of gold
10 the South are at an end. At the towns Of vir-
| ginia and North Carolina exchange rules ct So a
| 6 premium, and at Chicago and the Illinois and
| Wisconsin and Iowa cities at a s per cent pre-
MUM. The people Of the West ought not TO al.
low this winter to pass without establishing
new and sound banking law.
The business Of the Sub Treasury was as follows
| to-day
Receipts $l74476 "a
FER CUSTOMS. .........s.............. 72OOO 90