The New York herald., 1862-04-08
FINANCIAL AND CONNER cIAL.
MONDAY. April 7-6 P. N.

MONDAY, April 7-6 p N.
| To-days bank statement compares as follows
with that of last week : ...,....
Week ending Loans Specie. Cirrulafn Deposits.
March 20 si2s o2l $50 50 4l soa 61ss als %
Increase. Increase . ssea $50 s4l s2s ''''4-o
The decrease Of loans and deposits is less than
was expected. and less than for some weeks past
1t may be inferred that the banks are not as free
sellers of their government stocks as they were. If
they would only keep them out of the market for
few days, and then supply them with an under
standing toprevent competition among themselves,
they would dispose of them fast as they require,
and at much better prices than they will other.
wise obtain.
The real increase Of specie is greater than is
shown above. The banks are known to hold to-
day something like $s4 oo0, 900, and their reserve
is rising steadily The increase in the cirouiation-
nearlya million dollsrs-shows how thoroughly
the government notes have disappeared from this
section Of the country. 1t will NOT be long before
our city banks have again nine millions Of dollars
aaeat. 49, 4, -. ...-.a.. ...,,, .,...-
Money is In fair demand ut z per cent on call.
Many brokers are paying seven per cent for. all
they borrow; but, On the other hand we hear COM
plants from men who have money that they cam
not get over six. Certificates of indebtedness
range from 96 to sS1II the 1900 certificates can
not be bought under 96A The increased
supply of Treasury notes is making capi.
| talists more willing to buy long paper, as it
| is felt that as summer advances the rate of
interest will probably fall, especially il, as seems
| probable. the present authorized issue of $780,.
| 100000 be followed this spring by further issue
of one hundred millions more.
Foreign exchange advanced to ll2s< to-day, and
was firmly held at the price. There are no bills
in market. and bankers who sell must do 80 at
price which will enable them 20 ship specie
Gold again began to move upward to-day, selling
at 1925 u. The upward movement is resisted
by the bears in gold, who are discharging mer.
torious Office in endeavorng to prevent the depre.
ciation of the currency. They will probably be as
unsuccessful in this worthy enterprise Us they are
likely to prove in the less credtabe operation of
selling governments short.
Stocks were again better to-day. The rumors
and news from the peninsula confirm public ex-
pectation in regard to the success Of our army;
and though the shorts continue to manufacture
condrds about rebel victories and federal embar-
easements, the prevailing tone of the street is hope.
full and the tendency toward higher prices. Co
vernments rose "a - this morning; Tennessees
rose IL. Missouri ~. Pacific Mail !, Erie "A, Cen.
trail X, Illinois II Toledo Il, and other stocks in
proportion. The most marked advance of the day
was in Prairie du Chen, which st the morning
board advanced TX per cent, on the strength Of
dispatches from the West announcing that the Le-
gsature has passed the act repeating section seven
of the new charter and also confirming the articles
Of association. This proceeding will enable the
company to pay dividends upon the common
stock-a privilege of no small consequence to
the stockholders in view Of the heavy and
increasing earnings of the road. In the
course Of . short while, under the management of
President Meyer. this property will take rank
with the Galens, Rock Island, Burlington and
Quincy, and the other leading lines between the
Mississippi and the lakes. Between the boards the
market was steady, and was again rather higher
at the second board. Governments advanced \,
selling at 3d. The decline in governments vas un.
warranted by the facts, and will probsbly soon be
recovered. The banks must remember that the
number Of foreign buyers Of governments will in.
crease in proportion to the advance in their price.
If they were worth par now orders for them would
come here by every steamer in Europe. II they
are not forced on the market the whole sixty.
eight millions will very soon find q resting
place, and more will be for sale under par. At
the close the market showed signs Of increasing
strength; the demand for Central, Erie, and Toledo
seemed to be more active than for some time past.
The following were the last quotations-U United
States 6's, registered, 1881, 90 u; do. 6s, coupon,
1881, s3aH; do. SIS, 1874, s61I as7; Indiana SIS,
1871; Tennessee 6's, 55H sc; Virginia 6's, So a
81; Missouri 6's, 507s 81; Pacific Mail SO q; New
York Central, s3hs Il; Erie, 3714 a %; do. pre-
ferred, 'a62; Hudson River, 361I "a; Hsr.
lem, l21< "a; do. preferred, so a 3l1I; Reading,
42sS q AZ; Michigan Central, 55T q 56I; Mich-
gan Southern and Northern Indiana, 22s4 231I;
do. guaranteed, 46H q; Panama, 12l 122;
Illinois Central, 6lZ u; Galena and Chicago, 6s
O 6s; Cleveland and Toledo, 45T a 46; Chicago
and Rock Island, 55s4 Sc; Chicago, Burlington
and Quincy. 6o1s 6l Milwaukee and Prairie du
Chen, 2714 a 2s; Cleveland, Columbus and Cincin
natl, ll214 "a; Erie third mortgage bonds, 921,a
93 Michigan Central So, first mortgage, 9s9+ l0O
Illinois Central bonds, U.s. $50 s91.; gold, lO21S
az.
There has been some excitement to-day in rela.
ton to the stock of the Milwaukee and Prairie du
Chen Railroad Last week we had accounts of
bill in the Wisconsin Legislature, favoring the
farm mortgage men. IL passed both houses and
though it was apparently optional with the CON-
psny to accept or decline il, it was considered
very injurious to them, as being likely to bring the
farmers and the road into direct contact and then
into conflict. To-day we have accounts that the
above bill remains yet unsigned by the Governor,
while. with the consent Of the farm mortgage men,
and with their cooperation, bill has passed re.
peang section seven Of the reorganization law
and confirming the articles Of association which
we're not in absolute strict accordance with the
reorganization law, but now are law, as the
Governor has signed this last bill
IL -..h III