The New York herald., 1862-05-30
FINANCIAL AND CONNER CIAL.
THURSDAY, May 29-e p. NJ.

THURSDAY, May 29-6 L. M.
Money ia extremely easy, and is offered every
where, on call, at per cent. Business paper
sells at a s a 6. according to date.
Foreign exchange is dull, without change of
quotations. Bankers ask lis and brokers bid
ll434. Gold is lower; on sellers option it can be
bought at lO35S u. The news that cotton is
coming into New Orleans operates against the
exchange and bullion markets. few shiploads
of cotton would very speedily bring exchange
down to the old figures, unless our imports sud
denly increase.
The stock market was not very active this morn
ing. but prices were firm and in some cases bet
ter. The greatest advance was in Pacific Mail,
which has been unduly depressed; 1T rose IA per
cent this morning, and stock was offered at the
advance. Central, Erie, Erie preferred and To-
ledo, all rose d at the morning board. Guaran-
teed rose %. The other fances were steady
Governments rose Il. State stocks were steady
After the board the market was firm but inactive,
and continued so throughout the afternoon. At the
second board Central and Erie were shade better
and Pacific Mail was very firm at further ad-
vance of "a per cent. In other descriptions there
was no change. The bulls selling no stocks,
and it seems generally understood that they do not
contemplate selling at present prices. The outside
demand for stocks continues fair: had it not been
for the uneasiness caused by the Indiana
bond affair, we should probably have had
buoyant market, with prices a 10 per
cent higher about this time. The following
were the closing quotations Of the day.
United States 6s, registered 1881, l03% 1887;
do 6's, coupon, 1851, l04 I04; do. SIS, 1874,
s311a "a; Tennessee 6's, 5724 5S14; Virginia 6s,
56I 5S; North Carolina 6's, II 721l; Missouri
G's 81 5l1l; Pacific Nail, liz ll214; New York
Central, s6s4 s6A; Erie. 35A 357s do. pre-
ferred, 62 q 621s; Hudson River, 4314 1875 Har-
lem, 1879 1875 do. preferred 3311s 34 Reading,
4711s 40; Michigan Central, 59ss 5934; Michigan
Southern and Northern Indiana, 23I q "a; do.
guaranteed, 54A a 54S; Panama, l3O 1872; Hi
nos Central, 60 60I; Galena and Chicago, 665s
a 81; Cleveland and Toledo, Az AZ; Chi
cago and Rock Island, soA eoss; Chicago, Bur-
lington and Quincy, II ~; Milwaukee and Prai-
and Cincinnati, ll61a; Erie third mortgage bonds,
81 97A; Michigan Central SIS, first mortgage,
los 1861; Illinois Central bonds, rs, "a a "a;
gold, l03ss 103%.
On the 10th inst Major General Butler issued an
order prohibiting the banks Of New Orleans from
exchanging their paper for Confederate notes, or
from issuing any bill, note or obligation payable
in Confederate notes. On the following day seve
raj Of the banks called upon their depostors to
withdraw their deposts-in Confederate notes of
course. The call has elected severe comment
from the New Orleans True Delta. Nor is the
censure groundless. On the 10th September last
the New Orleans banks, in defiance of the law
of the State, suspended specie payments, and
refused to meet the claims of billholders and
depostors in any other currency than Confederate
notes. They claimed that patriotism" rendered
the step necessary. On the 24th Of April, Commo-
dore Farragut's feet being then in the river, and
the fall Of the city being certain, these banks 're
moved their specie to place of safety" Whether
it was carried off by General Lowell, or concealed
at or near New Orleans, cannot yet be determined.
On 18th May they called upon their depositors
to withdraw their deposits in Confederate notes.
AS the True Delta remarks, they began by forcing
their depostors and billholders to receive these
Confederate notes instead of specie and their own
bank notes, and now they insist on compelling
their creditors to receive payment of their claims
in these same Confederate notes, which, after 9th
will be utterly valueess and even contraband. A
more complete swindle has seldom occurred in the
banking history of this country. tbs, however, a
natural consequence of the revolution into which
the people Of Louisiana plunged so rashly. The
banks, with all their affected patriotism, have
been looking out for themselves and sacrificing
their depositors and billholders. They could
hardly have been expected to act otherwise. The
losses which their policy will inaict upon innocent
parties will furnish useful lesson against treason
able and revolutionary experiments hereafter. II
is understood here that long ago the New Orleans
! banks transmitted large portion of their sub
| stantial assets to Europe.
Vigorous efforts are made by the bears to ex-
aggerate the developments of the Indiana bond
affair. We learn this evening that up to the
present time about $3.50 900 OF the irregular bonds
have been lodged with the State agent and de-
stroyed by him, s50l 600 arc under the control
and mostly in the safe of firm which will surren-
der them to be destroyed after the settlement Of
some private accounts, and less than 100000 are
supposed at tho note agents Office to be still
afoat.
The business of the Sub-Treasury was as follows
| to-day
ReceipS SSloo94 IL
--kor customs. Z20OO0 w
payments L,ooo9oo 80
Balance Is ,oSS s0l ~
| The Clearing House exchanges were $24 246, ,44s,
| and the balances 81 ,055 ,40l rs.
The Cleveland and Toledo Railroad earned the