The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-03-24


This statement, like the last, reflects the effect
fthe recent legislation of Congress and the pro-
|osed measures of the Legislature on the subject
rgold and exchange. The deposits which appear
rom the above statement to have been withdrawn
uring the past week consisted partly Of gold and
Exchange, on which, as it seems, some "a 600 900
lad been loaned by the banks, and partly of
.kgal tender notes paid into the Sub-Trea-
Jury. These loans have been called in, the
Did and bills thrown upon the Market and
he banks placed in position not only more con-
ervative so far their own interests are con-
erned, but more reputable for their stockholders
nd officers. They still hold nearly thirty-four mil
ions of gold, of which we judge that some thirteen
billions do not belong to them. This sum, or the
ulk of it, will come on the market as fast as it can
10 Sold This bank statement helps to explain the
altng condition ofthe gold market last week. and
kewise presages diversion of speculation from
A old and exchange to other commodities.
i Money grows steadily easier. To-day the brokers
ssre freely supplied with money at per cent on
all. and no in Wall street is paying over per
ent. Money cannot well fall much below per
ent so long as the government allows per cent
or temporary deposits Still, as the deposits with
he Sub Treasurer only on call after ten days
Botice, loans in Wall street on demand, without
revous notice, are likely to rule fraction lower.
The payment by government Of the maturing certi-
kcates Of Indebtedness is steadily increasing the
olume of currency afoat, and will naturally con-
inue to do so for the present. Debt certificates
kere quoted this morning at 997s 100 for the
Id issue, and 977s SO for the new issue. Com
nercial paper of the highest grade sells at a 6
cont Ia announced from WASHINGTON that
n long as the 500 bonds sell the Secretary will
fer no other loan.
There was further fall in gold to-day, but with.
ut much excitement in the market. The volume
" speculation in gold has been very much reduced
II late and neither buyers nor sellers seem dis
bosed to move with vigor in It. II opened at l5i,
cropped to l52H. sold at 1921, Isl, l5l14 and
45l5S in the afternoon, and closed l5las bid. Ex-
hange was inactive to-day. The leading drawers
lsked l69 but we heard Of no transactions above
)6S., and in the afternoon good bills sold at
16s, and even lower. The active purchases Of
american securities which are going on for Euro.
pean account furnish an amount Of exchange
which goes a long way to meet the wants Of i'm
por,crs.
. The stock market opened this morning with un.
Usual vvacity. When Pacific Mail, Erie and
ome OF the Western shares were struck the excite
nent very great. Most Of the commission
Brokers had orders to execute, and, though some
bf the bears continued to offer their options, the
supply Of stock soon proved insufficient to meet
$he demand, and prices advanced In consequence.
kt the first board Erie l, Pacific Mail 4,
Pttsburg y, Galena l, Rock Island z. Toledo "a,
b. Governments were very strong indeed The
30 notes we're In demand at advance of
per cent; the skies Of 1881 we're likewise u per
sent higher. For bonds the inquiry was active
and prices were firm. Altogether the mar
|ket presented an active and buoyant ap-
|pcarance, and closed with an upward ten
|dency. At the one p. NJ. board the market
ESas very steady indeed at the prices OF the
morning board. At the second board the market
continued very firm. and the highest prices Of the
morning were maintained. The Central American
stock representing the new Nicaragua Transit
Route, is now quoted regularly at the board, and
shows some activity. II sold to-day at 81 a Sc.
2At the 7. NJ. call the mIrket continued strong,
and the highest prices Of the day we're maintained.
The following were the closing quotations Of the