The New York herald., 1865-05-09
FINANCIAL AND coMMERciAL.

~->--~->~->-~>--->~-~~~- k3
MONDAY, Ny s-sPM
the stock market moderately nrm ald aeiivesN
the first board this morning notwithstanding large sales
Of Erie by the bears AT the close New York Central was
~ higher than at the board saturday, Erie
Hudson River Reading Michigan Southern !, Cievs
land and Pttsburg 2x Rock Island H, Fort Wayne y,
Quicksilver r. Cumberland III Ohio and Mississippi
tihcates q Government securities were firm, with sn
upward tendency. Coupon hve-twentes OF the new
issue advanced u ten-fortes u.
AT the open board at one O'Clock quotations 4 q
l. per cent higher At tho second regular board the
market was dull and heavy. New York Central was Z
lower at the close of the first board Hudson River
u, Reading ~ Michigan Southern ~, Cleveland and
Pittsburg TX, Northwestern l. Rock Island l. Fort
Wayne "a Ohio and Mississippi certificates " Cumber
land n Government securities very strong
under demand for fve-twentes from the German
houses for shipment Coupon 1vetwenties OF the Old
advanced e. issue a. ten -fortes H skies OF
1881, H. The expected effect OF the assassination
abroad had been discounted and the decline OF FIVE.
twenties 10 5sI a COX fell short of the appre.
tensions regarding them The return news therefore,
not only failed to further depress the bonds this
side, but exerted opposite effect The next and
subsequent steamers will doubtless report steady rise
in quotations for fvetwenes all Europe and fresh
orders win be the consequence probably 70 the extent Of
creating speculative furor, which may carry them
above their real value here Ths gold depressed
meanwhile the greater will b the disposition abroad
to invest In United bonds for the Old World the
safety Of the principal the primary consideration and
the the currency that the has
tsrmnated-the moro confidence in our public credit
AZ the opcn board aA halfpast three the market for
railway and miscellaneous stscks lower New York
Central sold at COX, Erie 7sh, Hudson River loo Read
ing loox, Michigan Southern osh, Illinois Central o. 81
IT., Cleveland and Pttsburg TAX. Rock Island 1ol,
Northwestern s0 Fort Wayne (s 81 g. Ohio and Missis
sippl csstincaes a. After the board these rally
which carried Erie to 7ok .ais * sI,sat,5 a IS.
Tho gold market opened at 1lsk, but Immediately BE-
gan 70 Decline and eleven O'Clock had touched ll2
and ~ haipass four lssk from which reacted lao
the price ave n The Of this fall 10 svaceabe
70 the almost general belief which prevailed that the
eject Of the assassination news abroad would be
% advance the rates OF exchange and put
up the price Of gold here But the anticipated panic in
our securities in Europe has not taken place. and none
likely be returned Therefore, when the bulls
tered tho gold this morning realize they found
NO buyers unless recession the market broke
dor pressure SELL and the pros this afternoon is
lower than 1t has been At any time since September,
1868
Foreign exchange has slightly sympathzed with the
rates. but drawers disposed relax them and
the light exports going forward, by making merchants
bills scarce operate against any material decline Bank
ers ask 109x for sterling a sixty days, and ll0 l101
at short sight Produce bills are quoted at l0S1 1924
There Is no change to chronicle in the money Market
which of sluggish case encouraging speculation
and highly favorable subscriptions popular loan
The statement Of the associated banks for the week
shows increase of nearly nine millions in loans, Of
than million in specie, tie latter attributable to
the payment by the Treasury of the twenty May
pons. Call loans made at a per cent and com
mcrcial paper OF the best grade passes at per ccu
but the amount OF business transacted the discount
line Is extremely light.
II is stated that the Comptroller OF the Currency
decided not to approve any increase Of the capital OF
national banks until after July l. when the amendment
the National Currency act passed at the last session of
Congress to take effect with regard to the apporton
meht Of the circulation to the respective Ststcs The
Comparative Immunity from taxation which the national
institutions enjoy the State banks combined with
other Kindred advantages is stimulating the transfer OF
banks from the old the SYSTEM and making such
anxious 10 increase its capital Afterwards for the
sake Of corresponding increase OF circulation II
is therefore argued at Washington that IL limit
pacd upon this increase the part of banks already
established the three hundred millions Of circulation |
authorized by Congress will bc entirely inadequate %
meet the demand aud thus the creation OF banks
will be stopped for want of currency to issue TO them
is asserted that banks organized under the
onal law have Increased their capital under the State
law, without the sanction Of the Comptroller Of the Cur
rency. II this is 1t is clearly irregular,
and no right to an increase OF circulation
under the national law thereby acquired Nett her the
State national banks two masters and any
attempt combine the advantages OF the systems
in such this would be contrary the spirit
OF both the State banking laws and the act Of Congress
authorizing the creation Of national banks.
The of the public debt for the month ending
April 80 has not yet made its appearance Why thisY
The following gentlemen elected oficen of the
Stock Exchange to-day-President r. L Cutting First
Vice President NJ A. wheelock; Second Vice President,
A. II. Dyctt; Treasurer, w. A. Smith; Secretary, @.
H. Brodhead; Assistant Secretary, John ". Munro.
Messrs A. Campbell, J. W. Underhil ". H. Neil
son, c. r. Marvin and r. L. Cutting were appointed
q Committee on Securities At the time
the board voted . service Of plate TO the Hon.
II. G. stebbins, the President for 1888, with com
pmentary references TO him, and the hope that he
would return from Europe in restored health. similar
testimonal was presented to Mr. William Seymour, the
President with the thanks Of the board for the
in which he had discharged the duties OF his
position
The following figures compare the last weekly state
ment Of the New York associated banks with the re-
turns OF the previous week
ApriT 90 Hoy6
Loans x2Ol 277573 213, l72277
Deposits. s.................. 1913, 1es,733 2oo46e,736
Specie ................ leOIegi3 90 Oss, 800
Legal tenders .......... 60 O9G,274 81 25s, $40
............... AGO 659 4,os6 s37 |
The devations the returns OF the previous week
are follows:-
Increase in loans So se oos oOs
Increase IN deposits. t<toOVS
Increase III specie. iiyoo'Too
Increase in legal tenders. 162 $40
circulation.
The transactions OF the Clearing House for the week
compare As follows with those OF the previous week
C,earinps for week ending April S359 900 sl4