The New York herald., 1863-05-16
FINANCIAL AND CONNER CIAL.
FRIDAY, May l5-6 P. \

FRIDAY, may lo-0 +. M.
The speculation in stocks increases steadily, and
sales TO realize profits have effect whatever to
depress, but rather appear to give strength to the
market, by enarging the circle Of buyers for the
rise. The most active stock of the day s Erie,
which, after closing last evening at 941, rose to
ss this morning, sold ut 991l. 90. 9eH and so in
the afternoon, and closed at five p. M. at about
97A SO. Spectators predict much higher
fgures-say lisa 100; and, indeed. in view of the
earnings, it is hard to say why Erie should
not be worth as much as New York Central, Hud-
son, Toledo or Southern guaranteed. Everything
was higher at the morning board. Rock Island
rose per cent, Galena 2, Toledo Il. Chicago and
Alton ~, Fort Wayne u, Hudson River l. Har
lem l, Reading 8, Southern old ~. guaranteed
~ Illinois Central ~, Northwestern Q, New
York Central Q, Pacific Mail l. Governments
were steady this morning Missouri State skies
were active at an advance of l per cent The
business in bonds was very large indeed. Missis-
sippi and Missouri land grants (frst morgage) ad
vanced per cent, with a large business The
story in the street is that the road will become
part ofthe Pacific Railroad, in which the lands
would pay of all the debt, leaving the road to the
stockholders. Canton and Cumberland were rather
neglected this morning and fraction lower. Min
nesota Mining Company, an eight per cent dividend
paying stock is slowly fising to old prices II used
to sell at lS0. At the one p. NJ. call the business
done was large and the tone Of the market buoy
ant. The highest quotations Of the morning we're
fully sustained. At the second board the market
was very buoyant and the Grward tendency more
general and more marked than we have yet OBJ
served it. Central rose 4, Erie " Erie preferred
IL, Harlem ~, Reading 2, guaranteed l, Pitts
burg q, Galena II &C., &c. The market is en-
tirely in the hands Of the outside public, and Wall
street is following their lead. The stock Of the
American Coal Company rose to 60. As Delaware
and Hudson is selling at lat, Pennsylvania Coal at
I3l, and Reading at ia, the owners Of this new
coal stock consider II still very low. At the four
r. NJ. call there we're no new features. There were
large sales to realize profits and large purchases
for the rise.
Money is moving more freely again. The
government Is disbursing money freely, and all the
money II pays out is poured into the street for
employment. We do not see bow the rate Of In
tcrest can be kept up to per cent in view Of the
| facts and the prospect. To-day the brokers were
supplied at 8, with some exceptions at per cent.
Debt certificates are slowly improving again; the
new issue is within "a per cent Of par.
| Gold Is dull and neglected at about $50. Speeu
lation in the staple has so entirely died out that
no one now cares to inquire what the price is
| The gold jobbers are oil busily engaged in making
money in stocks. Exchange was not active to
day; bankers would not draw under l65; but i
was not easy TO effect large sales at that figure.
| The following table shows the earnings Of the
Erie Railroad for the rst four months Of 1862 and