The New York herald., 1862-03-15
FINANCIAL AND COMMERCIAL.

FRIDAY, March lis y. NJ.
The news from Europe per Africa, which arrived
to-day, is extremely favorable for American pro-
duce and American securities. The French de-
mand for breadstuffs was improving, and in Lon
don American securities were iirmer- Though the
intelligence of the capture Of Fort Doneson and
the fall of Nashville were not known at the time
the Africa sailed, the public of Great Britain and
France seemed to be forming iuster apprehen-
sion of the nature and prospect of tue contest,
and realizing that the war would he over before
midsummer. All the financial circulars report an
increased inquiry for American securities, and
the private letters state the same thing.
One letter from leading London house to house
in Wall street, after alludng to the Of money
and the anxiety of the spectators on the London
Stock Exchange to find something new to operate
in, goes to say that one more victory on the
part of the North will undoubtedly lead to an
active speculative demand for American secu-
rites, especially for Erie Railroad stocks and
bonds, which are familiar securities on Change
in London, and are likely to become more popular
than ever now, in consequence of the large earn
ings of the road. Within day or two after this
letter was written the news of the fall of Fort
Donelson will have reached England.
Money is very easy, and the complaint of the
quoted six per cent, with few exceptions al
seven. The government certificates Of indebted
ness will not appear in the market before the mid
die of next week, and parties who have been to
Washington to about them fear that still
further delay will occur at the Treasury Depart
ment.
Foreign exchange Is dull and weaker. Some
| sight bills on London, bankers, were sold in
second hands to-day at liz. The leading houses
ask 1l2 "a for their sixty day bills, and 5.0S1l
324 for francs, but there are no buyers at these
| rates. Some mercantile bills on Paris were sold
| to-day at $40.
| We have again TO report an extremely buoyant
stock market, though the street has been destitute
| of news and sensations to-day. At the msrnng
board the market was not very active, but prices
| we're firmly maintained. Between the boards
stocks showed q tendency to advance and at the
| second board everything was higher especially
Eries, the particular influence which operated
in their case being, apparently, the news from
Europe and the private letters per Africa. Com
pairing the closing prices Of the day with those of
| yesterday evening, we note an advance of x in
Erie preferred, Il in Erie old, in virginias, 70 in
North Carolina, q in Pacific mail, q in New York
| Central, "A in Harlem preferred, 2s in Michigan
Central, "a in Panama, a in Illinois Central, "a in
Galena, q in Toledo, a in Rock Island. The only
| exception to the market was Prairie du
| Chen, which for the past day or two has
been bid up by some spectators, and
to-day reacted a "a per cent on their
attempting to realize profits Government regis
tered skies advancedH. The market'was quoted
strong at the close, the following being the last
quotations:-United States 6's registered, 1881, 93
az; do. 6s, coupon, 1881, 93a1s; do5.'s, coupon,
1874, Sc a1a; Indiana SIS, 7s =; Virginia G's 60
e21s Tennessee 6's, 6O% 6l; North Carolina 6's,
6s11a 7O1.; Missouri 6s, 53s4 q; Pacific Mail 95
a % New York Central, s3T 81; Erie, 365s a
| q; do preferred, 62 4; Hudson River, 81 "a;
Harlem, 1879 u do. preferred, 32H H
Reading, 4294 a 431l; Michigan Central, SO So;
Michigan Southern and Northern Indiana, 24114 a
| "a; do. guaranteed, 4sss "a; Panama, 12l l22;
Illinois Central, ee1S q; Galena and Chicago,
| coz 70; Cleveland and Toledo, AK %; Chicago
and Rock Island, SIX So; Chicago, Burlington
and Quincy, 6lH e5; Milwaukee and Prairie du
Chen, 2ll. q Is; Cleveland, Columbus and Clip
cinnat, ITO = New York Central rs, 1O3 los;
Erie mortgage bonds, 92H %; Michigan Central
s's, first mortgage, 1887 q 104; nliaois Central
bonds, Ts. osA . "a; gold, iOlhsN