The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-04-01

business to-day, and Oil the markets we're dun.
Money was very easy. The brokers were freely
supplied at per cent, and nearly all the leading
lenders had money over at the close of bank hours
Commercial paper ia scarcer than ever since the
fall in gold, and not strictly first class are
more closely scrutnzed than they were. Debt
certificates steady.
Gold opened this morning at l47, rose to l49,
fell off to l4s, rallied to liss4 sold at 149, $50,
1901 and 1907 in the afternoon, and closed I5OT
bid. Exchange was dull; there were sales at
1853; but merchants generally complain that
goods are stagnant, and they will not buy.
The indications at the close to-day were that
the reaction in gold has about spent itself for the
present. Mr. Cisco will pay out tomorrow 50, $780,
600 in gold for interest on 1880 notes, and about
100000 will be paid out on the same account,
at other points, The bulk of this gold will come
upon the market at once. The tremendous fall in
gold from l73 to l39 has taught spectators the
necessity of caution in purchasing specie for the
rise. And now that the law of Congress forbids
loans of over par on gold, while the Legislature is
bent on preventing such loans altogether, the
difficulty of boarding the precious metal becomes
very serious. The recent advance from l39 to $50
has been greatly assisted by the operations fspecu
lators in dry goods and produce, who have been
buying gold to protect their merchandise. If we
have little good news, these parties may find
that by enlarging their ventures they have only
increased their losses.
The stock market was dull this morning; but
prices as . rule, were q shade better than last
evening. The leading favorites Of the day were
Hudson, which rose r. with considerable activity;
Harlem, which rose per cent and Rock Island,
which rose IL. Central and Erie were firm at the
best price of last evening" and the other leading
shares were steady. The movement in Harlem is
said to be predicated upon measures in the Legis-
lature looking to o consolidation of all the city
roads. and Hudson River is likewise supposed to
be favorably affected by the same cause. Rock
Island is strong on promised dividend. Govern
ments were steady this morning; bonds were firm,
but inactive. At the one o'clock p. NJ. cali in the
public board the market was extremely dull with
out change of note. In the afternoon there was
general inquiry for stocks, and the whole market
improved considerably, the advance being led, as
the morning, by Harlem, Rock Island and Hud-
son River. At the close the market was buoyant.
The following were the closing quotations of the
snApso 1917. Hudson River 1873
Debt certf,s. ssh a 100 Harlem pref. So ssk
Mss sa w.. 90 IVA Mich Central 100 aioi
Quicksilver. 43 ASK Mich Southern IS q 56k
Berks Co Lead. 2ka az Mich SO guar. 0SXa 80
Canton. ...... 23< "a Illinois Cent. 80x 80
Pacific Mail 100 1907 Cleve Pitts. 68xa so
N X Central max 1l4K Gaena.. 90 . 93H
Frie......... 77Ha TEX Toledo. 96L 96l4
Erie preferred. OF. s71: Rock Island. ss,s sasl
It is not believed, in well informed circles that
Mr.. Chase has any present intention of coming
here. The deposits at five per cent and the con-
versions Of $40 bonds are supplying him with
money faster than he ventured to hope when he
was here last. In the course Of a month or less
he will have his new legal tender notes under
way, and will begin to pour them into the mar
ket The old legal tender notes are being sup
piled at the rate of about million per day.
We hear of a number Of banking projects based
on Mr.. Chases act. 1t is to be hoped that the
new Comptroller of Banks will see that that act
is not used as cloak for wildcat institutions.
Many schemers, whose purpose is certainly not to
carry on legitimate banking business, talk of
awaiting themselves of its provisions to start
banks. The power of issuing irredeemable paper
money is too dangerous TO be entrusted to ire
sponsbe hands.
The SubTreasurer received to-day 5000 900 for
conversions and 100000 on deposit at five per
cent The business of the Sub-Treasury was as
follows to-day
Total receipts. $4O2I, e2l %
-For customs. ..........'......s ISt,soo 80
Payments. f,zov,oos ~
Balance. ............... lI'ssl'4i3 w
The aggregate exports of produce and mer-
chandise exclusive Of specie, for the past week,