New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-03-17
SArunD.Y, March l5-P. n.

ID q .
800 oo................' %fl
SATURDAY, March l5-P. n.
Tn. general characteristics OF the stock market al
the close Of the week ere seadiness ana Strength
without marked activity e,.cep, in Goyernmentseci-
,i.s and TWO or three oil the leading railways. 1he
former have attracted al immense amount OF tue
floating CAPITAL of the country and the investment
demand has more than kept pace with the Issues
from bank fountains, which nave been cohslau''
Ont of So coo 600 OF lie lasi 2 cent loan oi 1901
taken by the New-York banks, 1t is probable that
sl5 OOg GOO have been thur distributed, ana u IL
very satisfactory evidence OF the growth OF a more
cor flen feeling 10 regard TO the financial strength
and resourcer of the Government, that the od hOt-
nm snpulies OF the banks have Lot been able to check
a decided advance in market prices ORDERS IRON
al par,s of the North keep the OBSERVATION-DISCLOSURES
bnsv. and one to two millions per week probably
leave the city by mail and express in re-
.ponse TO remittsnces. Al the present rates
the banls make q fair profit on their
,ord. and the account with Government
,romisos TO be productive enough 70 induce mtner
iaIyV ''s~'''
There has been about the usual trade in Gold during
the week, but with occasional spasms OF recovery,
the tendency seems TO bc gradually downward. In
the ratio OF the growth OF confidence and ialsh IN the
proper issnes Of the Government, must the difference
between gold and paper dninish and s1'.irs are NOT
unlikely so 70 shape themselves rs to render return
TO specie payments a matter Of no difficulty, even II
the arrangement includes the redemption Of demand
notes. II is Iesson in political economy which
teaches that when coin can be had for the asking
paper promises, it Is NOT likely 20 be wanted unless
Tor export; aud If tue home demand ceases
from All equalization in the valuation Of paper
money ana coin, the foreign demand would be
If little account. TLee has in fact, been
10 absolute necessity for the suspension OF specie
payments, either by The banks or by Government,
although there was urgent need of concerted meas
between the great borrower and the banks rep
resenting the lenders, to avoid tie disturbance OF
drawing specie in huge sums, and in the machinery
of Government business keeping in transtu AL
amount Of coin enough TO enbarras5 banking opera
tions. Demand notes, made legal tender, solve the
problem, aud it DOW remains TO give the notes as
soon as possible the strongest basis of legal tende
viz specie redemption on demand. In Railway
stocks there has been rreglarity OF late, both
in point Of activity aud narke. vane. New
York Central, generally the leading stock
and the barometer OF the market, has
languished under feeble demand aud the stock
drae at about 50. -. The great cards seem to be
Ere old and the preferred shares both classes of the
stock attracting the rotoe OF speculators aad re.
ceivng a stimulus from lie large business aud
monthly gains OF the road. Toledo il still very
active, and was quite buoyant until this morning,
when the copous supplies indicated realization on
the part OF OF the large holders, aud the stock
fell back little. The annual report OF the Galeua
road has within few days given more vitality to
that stock, and it bus advanced TO 20, with gradu-
ally increasing demand Tie yesrs business gives
earnings of o. y cent on tie stock, exclusive of
the sinkin., fund, but uclldng that item, the actual
business produc, Of over y cent. AT the close
OF the day the market is irin wi,hou, activity and
the closing prices NJ clock how but slight changes
from the Second Board. The quotations were rs
follows: New-iork Central Railroad, So a S3t;
I.ge Railway, SO u36l; Erie Railway, Preferred
jgs a 62l; Hudson River Railroad 50 036i; Har.
lem Railroad, l3l 1885, Harlem Railroad Pre-
erred, ~ 45-l; Illinois Central Railroad, 66t
a Co.. Michigan Central Railroad 81 a57a Michi-
gan Southern and Northern Indiana Railroad. "A
dAli Michigan Southcrl and Northern indana
Railroad, Preferred 49, ~; panaina Railroad
Ia a III; Pacific Mail Steamship Company, -
a94; Galcra aud Chicago Railroad ~S "'O;
Chicago and Is)ca I,lsnd RAILROAD, % 40 q Chlca'
90, Burlington aud Quincy Railroad, % IA Obi Mil
Yankee and Prairie du CHEN Railroad. u a-l,;
Cleveland and li,sbigh Railiosd, iSa Is; Cieve-
and and Toledo Railroad, Il. a.; L. 5. Is. 1891,
Registered, 90, p93l; 4. 5. t., 1881, Coupons.
l3l 1881; Tennessee c:, o. ris oud ts, 55' 30.
Tie market for foreign bills is n,ayy and unset
led. Sterling Is nomioaliy lI!u il9l, with some
transactions at III f,r banaer-. F0mcs are JAje
90.
Freilhls are lees active, ard rates are somewhat
eavy, tlough not quo.ably lower. To Liverpool
he epgagem.L's ire 1900 bush. Cora az I'D. in
MA and bugs, hut ua'aiy in bulk, e'oO bta. Flour
s I'd o. is. Id, elefy at tie inside rate; 80 tcs.
aud ~ -1f.i Io;uLs Jalow At Iss.; ye0 bAs. Bacon