The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-05-02
money than has come here for investment since

1856.
There was a fair demand for bills this morning
and bankers. having sold all they had to sell
raised their rate to ll2T and ll3. This afternoon
il2@s was freely bid by the brokers; but we heard
of no business.
The demand for stocks continues, and large
business was done to-day in dividend paying secu-
rites and first class bonds, at advance over yes
terday's prices. AT the first board Erie bonds rose
lH, Michigan Southerns l, Cleveland and Toledo
firsts 211. Pacific Mail y. Panama "a, Delaware
and Hudson X, Burlington and Quincy "a Prai-
RE du Chen a. Government skies were too freely
supplied, as was to be expected after yesterdays
sudden advance, and they reacted "A per cent. A
similar reaction Of about "A per cent took place in
Erie, Erie preferred, Central, Toledo and Rock
Island. Parties whe bought these stocks few
days ago realized handsome profit by selling
them to-day. As the circle of buyers appears to
be steadily widening, the probability is that the
reaction will not last long. After the lrst
board the market was inactive. At the second
board the market rallied again, and there
was an active demand for governments and
other leading securities. the whole market closing
firm. The following were the last quotations.
United States 6s. registered. 1881. s7ss do. e's
coupon, 1881. 971s a 90; do. SIS, 1874, s91% a 4.
Indiana SIS, so =; Tennessee G's, 81 "a
Virginia 6's, 57A IS; Missouri 6's, 60ss q;
Pacific Mail. l1lH q; New York Central, IS a
q; Erie, 3714 ~ do. preferred, 62L III Hud
son River, 3GI ~ Harlem, 1875 %; do. prefer
red, ssss "a; Reading. 45S n; Michigan Gen.
trail, 56ss "a; Michigan Southern and Northern
Indiana, 231a Il; do guaranteed, 47sS a q; Pa
mama, 1861 1877; Illinois Central, 6OA "a
GaIa M
Toledo, 42s4 %; Chicago and Rock Island, 56sx
q; Chicago, Burlington and Quincy, GA a IS;
Milwaukee and Prairie du Chen, 271. q; Cleve
land, Columbus and Cincinnati, ll2h ~ Illinois
Central bonds, rs, ss1l 50; gold 1921 az.
One Of the bank note reporters has the follow.
ing pertinent remarks about government secu-
rites -
Mr.. Chase is now running his financial machinery in
way that IS as sure TO secure rapid funding OF the de-
mand notes into the six per cent stocks named the
back Of the recent issue OF notes water to find
its level r. then twenty year six per federal
stock rsdoemabe at the option or the government after
federal securities worthf Tho powor to redeem the
twenty year skies at the option or the government at
as compared with twenty year stock not liable
to such contingency, at least six per cont there
fore tho SKIES now ON the market worth,
l0S The 10 notes to The purchaser, during the
two and half they have 10 run, three per cent
\
indable into twenty year six per cents which
liable to be called In before tho full expiration OF the
twenty years; therefore the $40 Treasury notes
worth lO9 The twelve month certificates OF indebted
hess are certainly three cont less valuable than the
$40 Treasury notes and further less valuable TO
amount that the funding privilege is worth. An option
OF ca' to take twenty year federal stock at PAR at
any time during two and half years would readily
bring = y per the stocks. This makes 1910
per cen; Treasury note worth y por cent than
certificate OF indebtedness These estimates care
fully made but il should be remembered that they are
Ia al a
stock into which tho legal tender notes fdndabe at
par.
The Terre Haute and Alton Railroad was re-
Gently sold under a decree of foreclosure. The
bondholders who had not previously invested
were cut Off with very small dividend. They
are now exceedingly anxious to participate in the
benefits Of the sale, but are refused admittance.
The sale of the La Crosse will take place in few
days. Those who have not brought in their bonds
stand good chance to lose their investment. AZ
ter the sale the outstanding bonds win have little
or no value.
The deposits at the Sub Treasury to-day were
81 500 900. The business Of the Office was as fol-
lows:-
Total receipts. s1s ss6 20
Tor customs ...................... go wy "
Payments. Z,44I ,oSZ 10
Balance lal4o,l4s So
The exchanges at the Bank Clearing House this
morning were SIS 1913 sol 81, and the balances
sl,72O,7G6 80.
The Bank Of the State Of New York has declared
semi annual dividend Of three per cent. payable
on the lst inst.
The Atlantic Marine Railway Company, five per
cent for the six months ending December 81, 1861,
payable on demand.
The City Bank OF Montreal has declared semi
annual dividend 0; three and half per cent, pay
able June |.
The statements of the banks q the three prin-
cipal cities of the Union for the last week
pare with the previous one and the corresponding
time of 1861 a. follows:-
h Ss -, es',., ;, s s e. s ia y
F FSs A ARi X. sss 5ss s sS s ssss
Total, s2ll 500 l.4,s.slas sool7eol 1855
La, 2is.is73 isiio,ss7 5csiosio 1877 Sii
The following is a statement Of dividends and
interest money 10 be dsbursed in Boston in May
except those Of Roxbury city. the Dedham Bank
at Dedham, New York Central Railroad bonds
and Salem and Lowell Railroad at Lowell. The
month Of Nav is the usual period for other
dividends not vet declared. The changes in div.
dends as compared with November last, are an
increase by the Boot Mills rom = 10 per cent
Concord Railroad, . 70 & Manchester and Law
renee Railroad, . 10 !; otis Manuia curing Com
pany, to ), and Russell Mills > per cent, against
1 in November last. The Nashua and Lowell Rail-
road will doubtless make a dividend early in May:
but il has not yc, been reported
copttci. D,r,dslds. .frnoUn.
Csmpun,sS. May, g. Nor Man Nay, g..
Boot e. TOD NILS ....... 81 ,2co, 900 S4s goo
Boston Wharf Co... 800 COO ~ 1000
Columbian Mapul'ing Co.. $4,000 s S,400
Concord Rsrosd. 10000 10000
Dedham Esnk ........., 300 900 3 1900
Maine a's, 1871 .......... Int. ebout 3 5000
Name town and CITY bds. Int. about 3 1900
Man. h lawrence RI. ao3,600 39.A
Massachusetts sc, 1888 100000 -. az 900
Massachusetts, SIS, 1s72 100000 az AZ 200
n. y. Cent RR. 90, 1883. Int. about 10000
Otis Manufacturing ...... 100000 5000
Roxbury City bonds. Int. about $500
Russell Mils -. ....... I25 coo $3.50
Salem and Lowell RE-. 24J.U5 1899
somerville Horse RR..... 10000 "a AZ 30
10 100 az