The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-06-05
FINANCIAL AND COMMERCIAL.
WEDNESDAY, June 4-6P. M.


There is no change in the money market. On
call money is worth a per cent, most of the
call loans in the street being at 4. Paper sells at
4a6 per cent; certificates Of public indebtedness
at 1907. There is no prospect of any change in
the money market for the present. Nothing was
done in foreign exchange to-day
The stock market was buoyant to-day. Stocks are
now in the language of the 'jobbers," taking care
of themselves. The powerful operators who have
exercised 80 potent control the course Of the
market of late understood to be standing aside,
and neither aiding the rise nor the fall. Any ad-
vance which takes place now will be purely the
work of the public. To-day the buyers were
chiefly commission houses, acting for parties who
have money to employ and who can find no other
use for it than on the Stock Exchange. The most
active stocks Of the day were New York Central,
the Fries, Hudson, Toledo and Rock Island.
At the morning board government skies ad-
vanced "A, Missouris "A, New York Central x,
Erie "a, Erie preferred Is, Toledo u, Michi-
gan Central 2, guaranteed "a. Rock Island "a.
There was NO change in Pacific Mail, this
being almost the only one Of the active specula-
tive stocks which did not move with the rest of
the market. After the board prices were still
higher, and, notwithstanding the storm a consi-
derable amount of business was transacted. At
the second board the market was unsettled.
Central rose to 9l, then fell back to 81, closing
that bid. Erie and Erie preferred were both
"A lower. The general list and govern
ments were about the same as in the morn
ing. Pacific Mail advanced "a per cent, and
was active at the advance. Specie closed
at an advance Of "A per cent. The following
were the closing quotations:-United States SIS,
registered, 1881, 1927 1927, ex dividend; do.
6's, coupon, 1881, 1861 LOG; do. SIS, 1874,
95H q 95A; $40 Treasury notes, 1867
a LOG; Tennessee 6's, 59ss 1915 Virginia 6's,
81 571a; North Carolina 6's, 70 a "a; Missouri
York Central, 81 a 9l1Ss; Erie, 3sT 80; do. pre-
ferred, 65A 65I; Hudson River, At Az; Har-
lem AN l41aa; do. preferred, 3524 49,; Reading,
49A so; Michigan Central, 6311a 6a934; Michi-
gan Southern and Northern Indiana, 26ss 2654
do. guaranteed, 81 572s; Panama, 13l 1922 ILL
nois Central, 62T a 63 Galena and Chicago, 70
7O14; Cleveland and Toledo, ASK as; Chicago
and Rock Island, e4A s4ss; Chicago, Burling-
ton and Quincy, 74A 74224; Milwaukee and Prairie
du Chen, % 2s1l; Illinois Central bonds, Us 95
a 95H; American gold, 1881 1887.
Nothing has yet been determined with regard to
the issue Of small notes by government. A strong
influence, mainly proceeding from the army and
acting in the interest of the troops, has been
brought to bear upon Mr.. Chase, with view to
induce him to ask Congress for the authority to
issue fifty millions Of ones, twos and threes.
The project meets with no opposition, except in
circles which have been opposed to Mr.. Chase 8
financial policy from the start, and from parties
who have done their best to break down the
government by depriving it of the means of
carrying on the war. There can be no question
but an issue of small notes which shall be at par
everywhere is imperatively required. Troops who
are paid off in fives, tens and twenties cannot do
without change for them. If the government will
not supply small notes, banks will, and our soldiers
will inevitably be robbed by shinplaster- makers.
Suffers and spectators in the West have been
writing to New York for months begging for bank
notes of small denominations, and offering to put
any quantity into circulation. The question sim
ply is whether government will pursue to its legiti
mate lengths the policy it has SO successfully inau-
gurated, or whether it will now hold back and
make way for operators in currency?
The great subject of inquiry among capitalists
at present is for safe and lucrative investments
The market has been thoroughly cleared of first
class bonds, nearly every description of which is
now selling at premium. Governments are at a
price which makes them yield only about 5L per
cent to their holders. Many people are buying
on-dividend paying railway shares on specula-
ton. For the benefit Of parties who are in search
of investments that pay regular income we sub.
join a list of the most prominent dividend paying
shares bought and sold on our Stock Exchange