The New York herald., 1865-05-03
FINANCIAL AND COMMERCIAL.



ndss saiss 70 realise, psy induced By the declining
snasacy Of gold and assisted BY the bean AZ the
.ss board New York Central ~ lower than 1t the
soona board yee.erday, Erie ~, Hudson River 4 \
heading AZ, Michigan Southern Z Illinois Central / |
Asvsaand and Pitssburs ~, Northwestern ~, Rock |
Island az, FOrs Wayne ~, Cumberland 4, 0AiO and |
Nissss4uS certincases 4.
Government securities were Asu tho chief activity |
being in avs-tweasisa which Improved y n. The |
news Of the advaace Of these securuest 70 cox o6x,
Ok interest," u London ock Exchange prior 70 the
receipt q hs intelligence of Lsos surrender impaired
sonndencS 70 sayeEs sad the steamer which would
leavs Engsna shs 2eth ulk Il expected 70 report
further advance or I'VE per oens mors-the steamer
ASIA which carvea the Of the surrender, hav
ing rsshed port the night Of Saturday, the 22d the
day which tss Scotia leR Liverpool The bonds had
previously ses at Frankfort at co. interest included
AZ the open BOARD at O'Clock the weakness which
prevailed aer the call at the nst board increased and
l&sw York Central sold down 96X, Erie 75K, Hudson
River 1oss<, Reading seK Michigan Southern 6oH,
Cleveland and Pitssbarg 73. Rock Island ssx Fort
Wayne'0x, Ohio sad Mississippi certincaiesSok After
~ caA the market rallied and continued fsversh til
'ehs second board 4. which weak. New York Gen.
af~as one per cont than as the Arss board Erie
X Hudson River n, Reading X, Mich gan Southern
swaziland and Htssburg !, Northwestern ROCK island
n Fort Wayne l. Quicksilver V, OhioaBd Mississippi
.esssihcates n Cumberland advanced u. Government
Sssurities were nrm. Coupon nveStwenties Of the
"a issue sud at loox andlcf tho new as 1osx e1-
interest
A. the open board at half past three more settled
Selling prev aed and quotations underwent general
hpfoveuAent New York Central closed on tho call as
q, Rrie 17x, Hudson River 1foX, Reading 10lk, Il
lsis Central ll6X, Michigan Southern esN, Cleveland
md Ptssburg TAX, Rock Island f0l Prairie du Chen
a Northwestern s1k Fort Wayne 9sX, Ohio and Mis-
sissppi certificates 81 Canton 41K, Cumberland H.
Quicssglver O. Governments closed firm, with N up
wardtendency on the street.
Gold opened this morningeat 141K, but soon declined
- 1lOX, from which point rallied at half past two
70 l42x, and hour later 70 1917 but the improve
nsns not sustained, and at five p n Il stood at
xNs. The coin disbused by the Sup-Treasury, m ex-
change for the ve-twshsy May coupons, is finding its
way the street. and this operates to depress the pre-
xt1m In the absence Of q strong demand for legitimate
speculative purpOses There considerable sctivy
- the Gold Room TO- day but speculation has almost
saustvely favored fall the tendency Of the premium
having been TO stink by weight under the revived
confidence in tho national credit consequent upon tho
PRACTICAL termination Of the Gold may end proba-
bly will 60 still lower In the present condition Of the
market and under the existing state Of affairs aAd public
feeling; but It ID, nevertheless, likely 70 sell
- . higher premium years hence. A yet the
s>ase Of tho tho country hardly entered
Into the consideration Of either specuators orsthe
nunity at large The people do know how large the
debt H. or 10 to be, what will be the future Of
taxation upon which the government credit based, and
in the light Of dawning peace they lock only tho
bright and rosy sde and regard remote conngencies
Immediate possibilities. The stern logic Of facts must,
Aoswithstanding ultimately assert ITSELF and we shall
md that vast resources are they will be fully
tansA meet tho obligations Of the government that
enold In aft NIL thanf frrade
tAas heavy national debt Is by light burden
The foreign exchange market Is dull Baukers' rates.
however, remain nominally unchanged, at 1ooK for
axsy day bills. Opinions divided ~ TO the effect
upon foreign trade Of the Presidents recent proc
nation removing all restrictions upon commercial inter-
with States Of the Mississippi except such
imposed by acts Of Congress and regulations pre-
scribed by the Treasury Department Men question
shemsslves TO whether this Ia . nominal virtual
opening Of the South TO trade. Does the Executive
esr To subject future trade with the South to the
system which has prevailed hitherto which 10 odously
associatsd with Treasury agents and permts does
srely spulats for conformity 70 the Internal Revenue
nws and the ordinary rules Of the Treasury Depart
Dsnt in it, dealings with the loyal States'
The order II vague enough 70 justify either
conclusion and the probability 10 that when
y was ISSUED ts exact compass was not known But
svsdsnty it, scope meant TO be wider than literal
understand for all the restrictions imposed by acts
sf Congress and the Treasury hereafter strictly
ysgarded and the obstacles imposed the past
1he South will be far from reopcned TO free trade
fwther order, defining the order already issued is
Vned 10 prevent doubt this important subject How
~ may practically general expectation remains
10 Be seen; but the South will be likely To import
Shsn II export for the next two years.
The money market continues very easy the supply Of
capital being largely In Of the demand. Call
lsaas made freely at i've per cent with exceptional
transactions at Six and balances among the brokers
- some lent at four and four and half. This
sendion Of monetary affairs Is the great bulwark Of
lation for rise the Stock Exchange just now,
and would bs premature anticipate any material
change for long time 70 With not far from
shousand mOns Of currency in circulation, including
state bank issues the tendency Of prices must be
~ whole upward, accompanied by reactions however,
whenever values become unduy inflated; but the expe
ylsncs Of paper money system thus far win operate
sGanst such excessive nnaons marked the spring Of
1854 and great psnics will therefore be
q Wall street so long the present temperate,
Nous and conservative feeling prevails among those who
capable Of exertng influence the Of
Drfsss
Among the firms just established Is that OF NessA
Norris "a whcelwright stock brokers' No. II Beaver
street. fwho that they will transact strictly
somm Fsion business
The Sbusiness ut the Sub Treasury to-day fol-
ews:r
seelts FOR customs. $500 ooe
.Ai I,4bo,ZoS
egmohss. o,Zss,ooo
esAAAOo.
Duhscriptions 70 government loan. ........ 5000
Stock Exchange.
TUESDAY, Nay z--10:30 A n
o0ooe 8 6s, 65... 120 500 shs Erie RR. 80. 7sX
5000 use 81, oou. 11ox 1000 do......... 7sK
SSeo. do. ...... llox 1900 do....... 7sk
600 US 0s, ,620, ,cou l06k 800 do......... 78k |
1000 do ........ l0oX 400 do......sso II
p00o do. 1857 200 do..... rs
100 USos, ,s-2o,c mis- 105K 500 do........ 7Tx
scco s Tenn o. 20. esq 100 do: :..sio Tx