The New York herald., 1862-03-19
FINANCIAL AND CONNER GAL.
TUESDAY, March 1876 p. N.

TUESDAY, MATCH lo-o L. M
Money is in fair demand at q per cent; the
certificates of indebtedness have made their ap-
pearance in the market and are operating as alb
sorbents. They are very readily taken at bank and
ct the private banking houses at o per cent
discount
Foreign exchange is irmer to-day. Bankers ask
liz. and some leading houses refuse to
sell at that rate. The supply of
commercial bills is small Gold is also
frmer to-day; IL was in request at 1917 at the
morning board, and sold at 1917 on time. Ope-
rators place great reliance upon the experience of
the past with regard to the movement of gold. 1t
appears that there never was an instance of large
tsslcs Of paper money by government without an
appreciation Of the precious metal. The prevail
ing opinion among the members of the Stock Ex-
change is that gold must again advance to a s
per cent, though whether it will not then react
seems less generally understood. At the present
rate Of exchange there is profit on the export Of
gold to Europe.
The stock market opened with strength this
morning; the commission brokers had some fresh
orders on the strength of the news from the West.
In the course of the morning intelligence was re-
ceived Of the capture of Newbern, N. c., and this
still further stimulated purchases. Government
fully supplied by the banks and decline ensued.
They closed, however, at an advance of "a per
cent on yesterdays price. The fves of 1874,
which are scarce, rose IL per cent, and are
now within per cent of the skies. In the
afternoon the bears derived courage from the
non-reccpt Of intelligence confirming the capture
OF Island No. 10, and some capital was also made
out Of the report Of the Chamber of Commerce on
xIo oo,,I.in ~ nf ba hail
were sold down "a a q per cent, and Toledo and
Rock Island were depressed q. The impression
prevails that the bears arc getting cut quite alive
In these two stocks. II so, new upward move.
ment would have a substantial basis to rest upon.
The other railway shares were all better to-day.
At the close Erie old had advanced "a, Erie pre-.
ferred 4, Hudson River q, Harlem preferred I,
Reading 4, Michigan Central a, guaranteed "A,
Panama and Illinois Central q. The most active
stocks of the day arc the two Eres, both of which
have risen in favor since the appearance Of Mr..
Marsh's report. The large difference between
chem in price leads spectators to give the prcfe
renee at present to the common stock, which has
risen much less than the preferred, and whose
holders will of course control the property. The
market was steady at the close, the following be-
ing the last quotations: States 6's, regis
Acrco' 1901, 'oTs /s' uo. Us coupon, 1851,
93T 9i; do. 5's, coupon, 1874, s7a4 SO; Indi-
ana 5s, 7SI 10; Virginia 6's, "a 6l%; Ten
nesscc Gs, coz u; North Carolina 6's, go a 20;
Missouri 6's, 5s% "a; Pacific Mail, 9524 0G;
New York Central, s3;s ss; Erie, 371S 4; do.
preferred, ,621s ~; Hudson River, 3e1. 81; Har.
lem, 10 "a; do. preferred, 80 a a; Reading. 42iI
AZ; Michigan Central, 5714 a 9s Michigan south
ern and Northern Indiana, 24a u; do. guaran.
49, 40 a Z. Z.
66< 4; Galcna and Chicago, 6o5S 20; Cleveland
and Toledo, i6ss q; Chicago and Rock Island
564 a q; Chicago, Burlington and Quincy, "a a