The New York herald., 1863-05-27
FINANCIAL AND CONNER CIAL
TUESDAY, May 26-6 p. NJ

nf TUESDAY, May 26-6 L. NJ.
Money is easy enough TO good borrowers with
good collateral; the rate a per cent. To, spe-
enlators, or on securities not ''freproof,n it is
close at Z per cent. Business paper Of high grade
sells easily at a Q per cent Debt certificates are
steaiy. alif fA
The non-receipt Of official news Of the fall Of
Vicksburg to-day created some uneasiness in busi.
ness circles, and to the apprehension that our
first news may have been premature. Hence gold
was feverish and variable. 1t sold in the morning
as low as l4l9 and an high ss l431<; in the after.
noon, on less favorable rumorr, at l%411<, I45,
1851 and l44'4, closing at p. N. at about l44s.
al. Exchange sold as low as 1856 for very good
bills; but the leading bankers were unwilling to
draw below l57. Most of the foreign banking
houses are pursuing very conservative policy
and covering their bills as fast a. they sell. The
supply Of mercantile exchange is quite moderate
II turns ont that the supply of American stocks in
Europe is too small to admit Of any such mporta.
ticn Of them as to add materially to the inquiry for
exchange. '~riF ~ 1essihrr '8 81
The stock market was irregular and variable
this morning. The leading stock, Erie common,
varied up and down3a4 per cent. II opened at
80, against 92 last evening, soldup to o5, fell back
to o214, sold at o31, o41I, s5, 951I in TIE after
noon, and closed at five P. NJ. at about o51S u.
Erie is SO abundant and so easily bought and sod
that il is favoritc stock with the bears, and is
probably more generally sold short than any other
security; bnt, On the other hand, the earnings and
prospects of the line encourage good many per-
sons to purchase it for investment. Considerable
sums of money heretofore invested in the bonds
are going into the stock, as likely in the long run
to be the more profitable property. At the morn
ing board to-day the weakest stocks were the
Western shares. Fort Wayne fell 2l%, Prai-
ric du Chen 4, Northwestern I, Toledo
211la, Galena 2, Rock Island ~, Cleveland and
Pittsburg 2, Illinois Central O. Southern old "a,
guaranteed "a. On the other hand, Harlem rose
2 per cent and Michigan Central /. Hudson and
Central both gave way per cent. Reading was
dull. The coal stocks were steady. Governments
were firm. The breeze still continued at the close
Of the morning session; the well known bear ope-
rators were willing to supply stocks on short sell
ers' options at decided concession from the
prices on the CALL Az the one p. NJ. board, how
ever, some new buyers made their appearance,
and better quotations were made in almost every
instance, with the exception of Pittsburg, which
is being very severely attacked by the bears, and
declined "A per cent. At the afternoon session Of
the board there was quite change In the market.
New buyers made their appearance, and some Of
the bears proceeded to cover their shorts. Erie
rose TX, Pittsburg ~. Southern old II, Pacific I,
and SO on throughout the list the advance being
about l1I per cent ON the average. At the four
p. n. board the market was all very strong, and
there were good buyers of everything at 4 per
cent above the second board prices. The follow
ing were the closing quotations Of the day. d