The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-02-26
FINANCIAL AND CONNER GAL.
WEDNESDAY, Feb. 25-6 P. III.


Gold has been active to-day; but there has been
no further advance. and the indications are that
Cha hiohast noint has been reached for the present
Early IN tho morninu there were sales at 49, 1t af-
forwards declined steadily till, at one O'Clock T.
NJ. il sold at III; it then rallied to l72, a and "a;
sold in the afternoon at liz, "A, q, u, and closed
at l7lzS bid. Exchange sold at 1879, and at the
close the rate was fully that Yesterdays advance.
in gold seems TO have thrown Congress into per-
feet paroxysm of disnay, and there is no saying
what may not be the results. In the opinion of
Washington fnanciers disunion itself would seem
preferable to premium of rs a so per cent on
gold, produced by the gambling operations Of
the reckless spectators in William street. As the
case looks at present, we should not be
surprised if Congress adjourned without
authorizing any more legal tenders. Mr.. Chase
believes that he will get money under his Bank act
Some of his confidential advisers, who have made
fortunes by their intimacy with him since the
war, and are now believed to be in consultation
with the committee Of conference, are generally
understood to be short of both gold and stocks
In one pretty well informed quarter it was to-day
asserted that loan would be placed upon the
market within few days, whatever evil conse-
quences might ensue-the idea ut Washington
being that the advance in gold was the one thing
TO be dreaded above all others. It is posi-
BILE, of course, that before the adjournment
this day week-calmer counses may pre-
vail. Congress may realize that the coun
try would not be ruined though gold
sold in William street at $50. But at present,
judging from all the light we can obtain, the pros
pect is not very promising. The premium ON
gold seems to have deprived the Washington
fnancers of the little financial capacity they once
possessed, and they seem likely to legisate in
view of that premium only.
Money was very easy to-day at per cent. At
two p. M. it was offered at that rate in excess of
the wants of the brokers, and some loans were
made as low as 5. Commercial paper is scarce,
and prime names sell at 8 6. Debt certificates
sold at yesterdays advance.
The stock market was steady this morning, as q
general rule though some stocks were higher and
others rather lower. Governments continue in
good demand at yesterdays advance. good
many parcels of government skies have lately been
taken for foreign account and for the country
towns; the latter seemingly, with view to bank
ing operations under Mr.. Chases act. At the
morning board Pacific Mail fell off per cent,
Cleveland and Pittsburg /, Galena a. while Hud-
son River rose u, Southern old a, Fort Wayne
~ and Northwestern a. The Fries and Central
were steady. At the one P. M. session of the public
board there was some pressure to sell, and Erie
fell off "a per cent and the Western shares about
"a. At the second board the market was weaker,
and remained so, with some irregularity, till the
close at which time there was quite pressure to
sell stocks Most Of the leading operators seem
distrustfu Of the market for the next few days,
and few of them carrying any line. At the
close the following were the quotations.