The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-03-25
FINANCIAL AND CONNER CIAL.
TUESDAY, March 24-6 P. M.

This has been another field day for the bears in
geld. The price opened at l5l, declined almost
without check to l46L, rallied to l47, sold at
145L 1857, lag a 1865 in the afternoon, and
closed at 1867 bid Exchange sold pretty freely
In the morning at 165, declined to lGl &C., and
was almost unsaleable in the afternoon. No par
tcular cause has been assigned for the sudden de-
lcline in gold. 1t is partly due to the revival of
confidence in the government, which is evidenced
by the large subscriptions to the public loans;
partly to the general expectation Of success in the
Southwest, and partly to the idea that the govern
ment is negotiating with European capitalists
1 for loan. Rumor states that the steamer
Of tomorrow will take out the answer
& OF the Secretary to the various propositions
which are said to have been made to him by the
representatives of foreign capitalists. Mr.. VIII
liam III. Aspinwall and his son, Colonel Aspinwall,
leave in the steamer of tomorrow, and the street
suspects them of being entrusted with powers by
Che Secretary. 1t is impossible to form any idea
of the probable extent of the decline in gold. To-
days fall had the effect of checking transactions
In produce, and rendered it impossible to execute
foreign orders for United States securities. ST.
simultaneously with this decline there another
heavy fall in cotton, which was accompanied by
similar fall in cotton goods; so that altogether the
day has been an eventful one among merchants.
The check to the trade in produce will, OF course,
only be temp orary.
Money continues very easy indeed. On call the
brokers are supplied at per cent? the best mer-
camille paper, which is very scarce sells at 8;
debt certificates, old issue, worth per, and the
! pew issue %. The bank note companies are pro-
aucing about 81 $50 900 of paper money daily, all
Of which is Immediately discussed by the govern
ment in paying of the debt certificates, which are
DOW rapidly maturing.
The stock market opened strongly this morning,
and the amount Of business done was large; but
the decline in gold had an effect to check the up
ward tendency. Many operators seem to expect
stocks to decline with gold forgetting that stocks
we're generally higher than they are when gold
was selling at l45, some sixty days since. At the
morning board government skies, issue Of 1881,
/. rose per cent; the 7.30 notes "a. One curious
anomaly Of the market just now is the fact that
United States 6s Of 1863 are selling at los, while
the $40 bonds, which are really SIS Of 1867, are
for sale by all the sub-treasurcrs at par. The
general list was irregular. Pacific declined per
cent, Eric u, Erie preferred "a, Pittsburg "A, Ca
lena u, while the Harlems were n better. The
srmness Of these stocks, in the face of generally
che active railway shares dealt in at the board
she Harlems probably possess the least intrinsic
saluc. A statement which has just been issued
rom the Office Of the company states that the debt
Of the Harlem Railroad Company at the present
time is 5000, s2s, Of which 1865 900 Is overdue
end 81 900 900 more becomes due in 1864 The
net earnings last year-which was an extraor-
inarily good one for all roads-were $473,40l.
-. - a. Nh rpo
believes that the road can, tor ten years to come,
pay anything on the preferred stock, which is,
however, selling at 81 a So per cent. At the close
Of the session the market was dull and rather
lower. At the one p. NJ. session Of the outside
board there was little disposition to do business,
and prices were generally a fraction of. At the
second board the whole market was lower; Pacific
declined 2 per cent, Erie q, and other shares in
proportion. At the four =. NJ. call OF the public
board the market was better, and closed quite
steady. the following being the last quotations.