The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-04-15
FINANCIAL AND COMMERCIAL

TUESDAY, April ll-6P.M
Gold opened this morning at l5s, fell to l54ls.
rallied to 1854 sold at 1854 1856 and 1897 in the
afternoon, and closed l5lsz bid. Exchange was
inactive and irregular. Early in the morning some
bankers sold at 170 but later in the day the best
bills could be had az 100 a 10. The-decne in gold
in face of the news from Charleston, has surprised
many operators; but the market has been for
some time in 80 feversh o condition that
no upward or downward movement. how.
ever irregular and erratic, should cause sur.
prise. On the one hand. the military in.
telligencc Is not calculated TO inspire confidence
in the currency, especially ~ the indefinite pro-
longation Of the war now seems to be tolerable
certainty. But on the other hand, there In very
little real inquiry for gold either for export or for
boarding, and spectators find IL extremely difa-
cult TO carry the article. The decline this morn
ing, in the face Of bad news, was simply due to
sales by spectators who bought at lower prices
and considered this q good day TO realize profits.
Operators on the Stock Exchange are familiar with
similar phenomena. When every one believes that
stock s going to fall on certain day II often rises,
and cce rerso. 1.-THE war lasts and the government
continues to issue paper, gold must rse in spite Of
victories, legislative restrictions on speculation
and every other hindrance. But the rise will not
be steady and uniform. II will be marked BY sharp
reactions, in which unwary spectators win lose
all they have made; and very often IL will seem TO
work 10 contradiction to oil laws and rules of
political economy.
Money continues extremely easy, so easy that.
Notwithstanding the news from Charleston, which
has checked conversions of currency, deposits at
she suo-Treasury, at five per cent, continue to be
MADE. on call the brokers are supplied at a
per cent Mercantile paper Is 30 scarce that Il IL
dimcuit to give quotation for II. Debt certiH.
Gates were hardly so strong to-day. The new issue
declined Il.
The stock market was moderately active tb,.
morning, and prices we're generally better. B.r.
lem, which has Tor some days past been the lead.
ing fancy, opened at 81, and declined to so at the
morning board. The operators in this most mer. |
cnrisl stock keep their own counsel about their !
purposes; bat the movement il probably nothing
more than corner. Az the morning board Pacific |
Man was steady; Erie rose =, Hudson x, South.
srs old Z, guaranteed ~, Fort Wayne Il..
Cumberland declined Il, Pittsburg a, Galens x.
Mere appears to be very little doing in the West
ern shares, which are Tin the nineties:r specu,a.
Tors show preference for cheaper stocks, which
nave . greater margin for en- advance. Minpe-
'ofa Mining stock advanced one per cent this
morning; Bucks County Lead declined \. Railway
ponds were inactive at last quotations. After the
BOARD the market was rather active, and price,
vers better, especially Erie, which IL again largely
versold. In the afternoon there was a gre.s
eel o. animation In the dealings. and prices werc
most UNIFORMLY better. There ws quite o