The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-03-10
eiNANcIAL AND CONNER cIAL.
Iucrease.sI ,Iss.4so 1888 a. "a. 77e's7s
i)ecrease 7oiisf ~

,ners.ss,sl ,laat.sO l''a'saa s7o. '''''1s
Decrease. 7o''ST ~
The movement thus continues steadily onward
towards increased expansion. The bank deposits
increase, and their loans naturally follow. Even
the specie rises week by week. The city banks
now hold nearly forty millions Of gold-a sum
twice as large they would hold il they were
specie paying institutions, and large enough. II
distributed among the public, to knock the pre-
mm on gold to rs. We have seen a draft of a
brief but very thorough bill which rs to be intro
daccd nto the Legislature, prohibiting loans on
: II, pronouncing them. void, and FORGETTING the
,barter Of any bank which lends on gold. Other
similar measures are being prepared in other
guarters. The democratic and republican mem
oors OF the Legislature appear TO be unanimous on
iais subject. aud the prospect is fair that before
au5ther fortnight elapses every loan on gold in
h's city will be called in. The following are Sen.
ror Connoy's resolutions, to which allusicn has
made in this column
Res lved Tit tho Bank Superintendent be, and is
nceby directedt ascertain under oath, OF the presl
rt cas- ler ~ Of each banking trust COM
any u each said cities and report without delay 70
sirst-Tho Of gold and silver held by each Of
"a banks savings banks or trust companies at the date
~ such eport ms Us property. and the amount held
deposit depositors and the amount OF
ans ON gold nd silver certificates OF deposit of gold or
that date, and 10 ahem made.
>cc,na-- thcano nts which each bank, savings bank
q st company IN said cities have loaned on DEPOSITS OF
gold OF - ver the amount Of certificates OF de- os issued
81 &C srS ~ I'd nd silver, and the amount Of checks
fayahe ~ ~ ~ silver, certified since the LIST day Of
tpy l,1 the OF such loans, icates certified
check aa the cs y the parties to whom such loans
we're tea certificates issued, or III whose favor the
checks were cert he'
.hid- bc iunolri uaned by each Of said banks saw
ms ~ of trust eom@nes on certificates Of deposit
OF ID r 81 issued by other banks, saving banks
individuals On ohcr banks, savings banks trust
panos SG2 the 81 the banks savings
banks trust compg les issuing such certificates, Of
the individuals drawing such checks, tho date, 10 whom
issued md the amoInf
Fouri-lhc amount gold silver bought or sold by
each Of said banks, savings banks trust companies
since .uly l, 1862
Ffthrne amount vi United States bonds other
ernmen aecures, besides legalendef notes. which they
now hud have held since the LIST day Of July 1862
the amount that they hav. sold and the amount OF profit
or loss realized on such sales since July l, 1862
Resolved, That The snsriaendent Of Insurance Compa
nes be- and is hereby authorized and directed to
tain, under the oath OF the PRESIDENT and Secretary Of
each COM any said cities and report without
delay TO this legislature, the same facts required in
the i've preceding sections, fully and particularly
though such insurance companies were named therein
and,
Resolved, That sid banks, savings banks and trust
companies be- and they hereby directed TO file reports
under oath aforesaid containing all the information
herein called for with the Superintendent specified
for each within fifteen days from the date OF the passage
of these resolutions.
The money market is very easy, Call loans are
freely offered on good stock collateral at 6 per
cent Mercantile paper is very scarce, and sells
at a G per cent Debt certificates interest pay
able in gold-are approaching par; those on which
the interest is payable in currency are only one
per cent less.
Gold was steadicr to-day, mainly in consequence
of the demand from the bears for delivery. The
Wall street operators have actually conered the
market. Of course this difficulty will be but TEN.
porary, and the belief in further decline is uni
yersal. 1t opened this morning at 1851, rose to
i57, sold at 1871 l5s in the afternoon, and
closed l5sh bid. Exchange sold in small amounts
al 1921, and closed l73 "a. Many of the leading
houses prefer TO sell at lloL for gold, thus re-
heving themselves from the duty Of watching the
gold market.
The stock market was quite buoyant to-day,
mainly as it appeared, in consequence of the
diversion of speculation from gold to stocks.
Pacific Mail, which closed at 10 on Saturday. rose
this morning to III, IT'S, 1854 and closed in the
afternoon at 1893 bid. The prevailing belief is
tha, the new bull party in this stock are going to
buy all the stock that be bought in this market
under 200, and the famous Washington short
sellers are in bad way If they have not covered.
The railway list was all better this morning. Erie
rose ~ Ellie preferred !, Harlem ], Harlem pre-
ferred "a, Michigan Central IA Southern old !,
Cleveland and Pittsburg 211s, Galena "A, Toledo
IA, Rock Island Ia, Fort Wayne l, &C., &c.
Governments were hardly so firm. At the one
p. NJ. session of the public board the market was
strong, and the public appeared to be free buyers
At the afternoon board the market was strong
Pacific Mail rose TO $50, and the railway shares
were ia lively demapd. At the four T; n; session
p the public board the market continued strong
and active. Quicksilver rose from So to SO. At
,he close the following were the quota tons =