The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-05-14

exports exclusive OF specie) from the port Of
New York to foreign ports for the week ending
May l3 and since January Il
1860: 1861 1862.
For the week. $g33 500 2.366.l66 1859 98l
Previously reported 20 .75i 44s47.l52 l26l 925
Since January $50 69l ,ioS ~ 2la,sls "A s94 9os
The money market is extremely easy. Any
amount of money can be borrowed at 4 per cent,
and on gold or exchange at g. There can be no
increase in the demand for money or in the rate Of
interest until trade revves, which cannot take
place until some time after the restoration Of
peace.
Foreign exchange was inactive to-day. but with
out change Of quotations. Sterling is held by the
bankers at H. and 1872 is bid; francs are quoted
1896 4.971a Gold fell oil this morning to 1887,
then rallied, and closed at 1925 bid. II is un.
derst0od that the short sellers Of gold have been
called upon TO make some heavy deliveries, and
are beginning to realize the cmbarrassments of
their position. There is not. gold enough in this
market to make all the deliveries which have been
contracted for by the bears. Their only safety
lies in borrowing the coin Of the banks as often AZ
their contracts mature. This resource is now being
taken away; for parties who have been buyers Of
gold are demanding the coin itself and making ar.
rangemonts to have ii carried for them at their own
banks. As the banks are willing to lend money
on gold at per cent, no reasonable person will
continue to pay six per cent interest on contract
for the future delivery Of gold.
The stock market opened this morning with less
vigor than it displayed yesterday. As was to be
expected, large number Of spectators were anx-
ious to realize profits, and after the very general
buying Of yesterday, there seemed this morning
In Ju.ivxv In
course, is mere temporary affair. The causes
which have led to the present activity
in the stock market-viz: the paper money
imitation and the successes Of the Union troops
are lasting in their influence, and it is obvi-
ous that their effect will likewise be lasting.
Government skies advanced per cent this morn
ing; We hear Of sales Of $40 bonds at 1907, and
Of 100 notes at 1861 Railway shares were all
fraction lower. New York Central ut the first
board declined "a, Hudson n. Michigan Southern
u, Illinois n, Galcna u. Toledo u. Rock island
H. State stocks were about "a per cent lower.
The commission houses report very active ont
side business. Everybody who wants TO earn
interest on his capital is buying stocks. Between
the boards, the popular old cdn0rd about foreign
interference was again started and the old au-
thorty, which has originated so many ingenious
falsehoods-the Independence Betge-was brought
to bear with the usual effect on the stock market.
Al q later hour In the day, President Lincoln
proclamation reopening 70 trade the ports Of New
Orleans, Beaufort, N. G., and Port Royal, s. c.,
set at rest all appreheDsions ON the score Of TO
reign interference. hut in the meantime the effect
had been produced, and nobody seemed TO care
about resisting the tendency Of the day, and prices
declined, at the second board, "a q per cent. Pa
ciic Mail fell OF to ia. The company declared the
usual five per cent to-day, payable on the Esd.
The old nonsense is talked in the street about an
opposition line. Meanwhile the concern pays five
per cent quarterly with unvsrying regularity.
There are not many stocks on this or any other
stock exchange list which yield 80 large an income.
Chemical Bank stock, which pays six per cent
quarterly. Is held At 400. The popular stocks Of
Rock island. Hudson. &c. There Is az much bust
ness in these FIVE or ak stocks as in all the rest
Of the list together. At the close the following
were the quo ations:--Unted States Gs, register
ed, 1881, 1oi q los; do. 6's, coupon, 1881. l05 .
losl@; do. SIS, 1874, 95H q s51s; Indiana So, IS;
Tennessee 6's. $50 5Ss4; Virginia c's, GO; Mis-.
souri, G's, SAX 52ls; Pacific Mail. litl4 ll4s44;
New York Central, 30 s9l4: Erie 39s4 40; do.
preferred, 661s G7Is: HUDSON River, 42ll 4291;
Hsriein, ~ q AZ; do. preferred 80 81; Reading,
~ q -; Michigan Central, Coz. 81 Michigan
Southern and Northern Indiana, 24yz y rs; do.
guaranteed, 5f5% 5ii4; Panama, i2slI l2s;
Illinois Central. ca, 621ss; Galena and Chicago,
72i1 q 72s.; Cleveland and Toledo. 4G1+ q aGix;
Chicago and Rock Island. 6ls. G5: Chicago. Bur-
lington and Quincy, 69H 40; Milwaukee and
Prairie du Chen, 29s4 30; Cleveland, Columbus
and Cincinnati llG a ll61s: New York Central
rs, 1875, 1861 1861; Erie third mortgage
bonds, 90 a 81; Michigan Central SIS, first mort.
gage los q i05 Illinois Central bonds, 7's 921. q
rs; gold. los,s ioS1s.
Assessors should he reminded in these times,
when taxation Ia So press heavily on all kinds OF
properly, that railroad corporations had an act
passed in 1856 by which they we're virtually al.
lowed 70 make their own valuations. The act was
repeated At the following session in consequence Of
the great improprieiy OF allowing one set Of pro-
perty holders 10 DO that Ia the matter Of taxation
which was not allowed TO others. Yet, under the
one years operation OF the law, the railroad com.
panies were enabled TO force down their valuations
to such extent IA to avoid paymert VI taxes to the
amount, " are told, Of more than 500 000 which
cum, NJ course hadtp he made on from the pockets
Of tie common herd. II 10 said. ON tie same az