Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1865-04-03
FINANCIAL 9 COMMERCIAL.
FINANCIAL.
MORNING LEADER OFFICE,

eA1uRDAT EVKSIsG, April l, 1885.
The courEe Of the Gold market to-day has been
pretty uteadily upward, though for what reason or
BY virtue Of what influences is not exactly clsar.-
Our dispatches attribute It to disposition to con
strue the movement Of Grants army = defeat,
but it is TO gay the least unchAriisble to suppose
thst sensible men, having thou'snss tf dollars ct
stake, could be led into utterly groundls be-
lief We are disposed to look to more natural and
substantial causes, as q scarcity Of cash gold, the
heuvy short interests In the market and to a con-
siderable extent the theory which has taken arm
hold upon the minds Of many that even after ki1h-
mond Is evacuated, or indeed the rebellion virtu-
ally ct an end the premium Is to advance and re-
main higher for an extended period. This latter
hypothesis is by no means confined to few, hut
Is matter ofvery general opinion, and large esp-
iaIists are acting upon It in buying heavily fgOid
for withdrawal from the mari ct. How far such
an otinion-whieh 20 our mind is false-may have
power to resist the pressure Of events It would be
difficult to determine, but it is unqusItiOnably one
of the st ongtst powers now being employed % sus-
tain the price Of gold The closing rate tonight
It4-is the highsst reached during the week, and
within "a Of the closing price Of last Saturday We
apprehend, however, that the news reosived TO
day from the operations before PetsTsburgh viii
cut off the advance, and may send ths price below
$50.
For the past two days there has been decided
Improvement in nearly all the Railway Stocks, and
frmer feeling is reported to prevail The ehanse
| is due patty to the heavy demand from the short
interest and in = measure from an Increasing de-
mAnd from Ieadirg capitalists for it vestm MT The
fall In gold has lost much of its effect upsn stock,
4 =. kT--aw afsraa fhara
Is = disposition to deal in railway shares rather
than in gold by many spectators whose dealings
are felt in the market With peace and specie pay
msnts It is probable these properties could not be
replaced at the quotations, which cannot be said
Of most other classes OF property. The advance oi
the past two days, however, did not cover the de-
cline established en- most OF the list IN the early
part of the week. The following stocks lhow an
advance upon the clio ing rates on Saturday last
Erie, Cleveland 4 Pittsburgh, Northwestern pre-
Ssrred, Fort Wayne, Cumberland Coal, Quicksilver
MariL o,a. The balance of he list Is lower.
Gov,rnmsnt Gold Bonds srs steady and firm
and the demand for them Is undiminished, pArtic-
uIarIy from capitalists and business men who re-
quire safe aad reliable collstersls in times Ehsr
ordinary property subjected to rapid and violen
fluctuations. Further large demands from Europ'
for the old issue of 5-2Vs were brouah by the las
steamer.
The local money msrket continues unchanged
There Is scarcely any demand for discounts, Will
the the supply OF currency is easy. There is nj
disposition, however, on the part Of the Banks Il
encourage borrowers Of any kind, and outside pI
per meets with no favor, unless of the most unex
ceptionabls character Exchange ia steady at y
discount buying and par selling.
The subscriptions to the rev issue Of the 7-s
Popular Loan show very gratifying figures, AM
give promise that the whole amount Of 500, CO
will bs absorbed BY the middle Of July, and per
haps earlier. The subsc iptiOns ct the Second Ma
7 tionAl Bank in this city to-day were S47,s
n. z. Money Market-April 4.
lBY TELEGRAPH.
MOney-EaIy ct SGT . ct.
Sterling EKchange-NominAl at 1O96los5
| for first class bankers' bills.
GOld-Without deei3ed change. Opening q
Isl, and closing at 16.54.
Total export Of specie to-day S4S, 800.
New York Stock HaFket-ApriI 1.
BT TELEaBAPH.l
Governments stOsks--Qsist and withou