The New York herald., 1863-03-04
FINANCIAL AND CONNER CiAL.
Tuesday, March 3-6 p. \

TUESDAY, March 3-6 p. NJ.
Money is easy at per cent on call. Some en-
barrassment stih exists among lenders in conse-
quence of the Interpretation put upon the tax on
call loans. 1t is presumedi that Commissioner
Boutwell, viii eventually decide upon the matter
in way to secure good revenue to gov ernment
without imposing intolerable burthens on busi-
ness. The feeling in financial circles to-day is
much depressed by the loss of the Indianola and
the destruction the splendid clipper Jacob Bell,
and confidence, which slowly beginning to
recover, has received fresh shock Events of
this kind are lily calculated to facilitate financial
negotiations.
Gold has been rather dull to-day. The price
opened at l7lT, as against ny last even
ing, and declined steadily to III; sold in the af
ternoon at III "A, and closed III bid The
street-by which is meant the William street
spectators and their custcmers-is general.
ly short Of gold. II is believed that the
effect Of the new tax on dealings in
gold, and the policy pursued by the Secretary of
the Treasury will tend, at least for the present to
check speculation in the metal, and drive specula-
tors to some more promising and less expensive
field Of operations. Exchange was quoted to-day
at lSS 1S9 per cent for bankers bills.
this morning, though without any great offering of
stocks. The demand--which is generally light
is mostly supplied by the bears, who are getting
out a large line. Yesterdays advance in govern
ment stocks was not sustained the coupon skies
declined "a per cent. Per contra, the $40
bonds into which the legal tender notes
are convertible, sold at "a per cent premium,
which price, if maintained would make the
legal tender notes stand at premium likewise
The sale this morning, however, was only one
small bond, and can hardly be said to mark the
price. 1t seems to be generally anticipated that
the public will have an opportunity by and
by Of buying long bonds of the United
States much below present prices. Rail-
way bonds were dull but steadier than yes
terday. The general share list was weak and
lower at the first board. Erie declined ~, Erie
preferred l, Hudson q, Harlem n Southern old l,
Guaranteed a. Illinois l Pittsburg "a, Toledo "a,
Rock Island "a, Fort Wayne 2. At the one p. M.
session of the public board the market rallied.
Erie rose q, Pittsburg "a, Harlem z, Southern
old "a, Galena a, and so on throughout the list,
buyers having made their appearance from the
ranks Of the gold spectators. At the second
board there was quite an active upward move
ment. The bulls in stocks appear to have re-
ceived reinforcements from the ranks Of the bulls
in gold, who seem to think that, as gold has risen
20 per cent while stocks have remained station
ary, the margin for further advance s greater in
the latter than in the former Erie rose "a, Pitts.
burg /, Southern old u, Toledo a, Erie prefer
red l, Harlem Ia, and SO on throughout the list.
At the four p. M. session Of the public board the
market was.very strong, and there was a general
disposition to sell gold and buy stocks. The fol-
lowing were the closing ouotations:-