The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-05-24
FINANCIAL ASp ooMMEacAL.


~,
N, nsshigsn Southern I, Cleveland and Pttsbur
<. Rock Iaand X, Fort Wayne y, Ohio and Mississippi
osrtiaoasss n, Quicksiver x. Government securitie
wsre neglected. After the can tho railway list ws
moderately arm, and ~ the open board u ocloc,
pnoss were . fraction higher, and In thu
Sass Of Erie which was very active, ~. A
She second regular board the tone Of III,
markss wss arm nov York Central closed y
higher than a the arss board, Erie ~, Hudson Rive
r. Reading n, Michigan Southern ~, Illinois Contra
n, Cleveland and rttsbars X, Rock Island e, For
Wayne *. Ohio and Mississippi certificates T. Govern
mont securities very dull but steady.
A. the open board ct half past three the market wa
stroesst. with an advancing tendency New York Cen
& sold the call a ok, Erie 1sI, Reading o. Michi
gan Southern sex, Cleveland and Pittsburs o3, Roci
asia.d eax. Nssshwesssr ssa, For Wayne oax, onick
? slivse SIX. "
rAsrs N ncseased dispostioa 70 buy during thu
esrneea, ths theory that the market Is considerably
evsssc1 ed thai - large number Of sellers options
nassrs within the days the bears will pc forced
70 seovs'' Within dat time Tho speculative interest
~ aovity d ths market centred In Eric for wnicn
~ tus prsascs ss 70 90 within few days. and some
Or ne bears Soon rather disposed 70 encourage the ad
vurco for hs sac or putting fresh options At higher
Agurss Tho leading bulls have undoubtedly large in
terest u stake and. - said yesterday, II they
ere determined they en engineer rise in the present
easy condition Of the money market Until the public
como into Wall street buyers Of railway stocks how
ever no permanent improvement Of prices can take
place; but that tho public will ultimately do 30 hardly
admits Of 9 doubt Meanwhile, the country has to pass
through period Of depression consequent upon the ex
hausting Influences OF the war; and from which
u will emerge with Increased power and re-
nswed enterprise. with the improved prosperity
and growth Of the nation railway property will acquire
proportionately augmented vaue and the stocks that
gro now passed from broker broker in Wall street will
be in tho hands Of investors regular dvdendpaying
securities But for the corrupt Encouragement Of our
railways their shares would be selling far higher prices
vhan thcy sre but ID not wonderful that stocks which
ought 70 be in good credit should have fallen into dsorcd
owing to the practical dishonesty Of the dces who con-
trol their intrinsic valuo 70 great extent.
Tho gold market has been In the ascendant under the
demand for shipment which likely 10 continue soady
Just the imports not heavy although they pre-
ponderae largely the exports IN value But the
markets for dry goods and general merchandise have
been bare OF goods all ovor the country for the
last quarter Of century In proportion TO the population
- they now. Hence larger imports Of goods and
larger exports Of specie to be looked for unless
<eracted BY increased exports.
The proclamation Of the President reopenihg the ports
East Of tho mississippi 10 foreign trade is timely and
sautary measure, which cannot fail result In the
speedy although but partial resumption Of tho long in
teuped trade between Europe and the States recently
In rebellion The proclamation has wisely removed all
tnvidous distinctions and restrictions and the Geld which
presents itself Is equally inviting TO Northern and for
sxA enterprise No Wall the intelligence that the
blockade at end reach England than Britsh traders
with quick eye 70 profit, will prepare 70 ship dry
goods aud general merchandise in largo qlsnti-
Mes 70 Charleston, Savannah, Mobile and other
pisoes In tho hope Of sxchsngins the same
pr cotton, tobacco and other Southern products But
until tho people OF the South irrespective Of their polii
col opnons placed beyond fear Of conAscaton trade
will DO checked by the ndisposson Of those who have
cotton and tobacco hidden away In the interior bring
d u 70 market There IL doubtless, however, . large
amount Of speols In ths aggregate boarded up in the
porthern country which the reopeng Of the ports will
be likely 70 bring 10 light for the people there in such
seondion THAI they will gladly avail themselves the Cd
vantages which the removal OF the blockade cannot full
- insure So tho government declares against
me oon1scaticn Of the property Of rebels trade with the
South win b. virtually we'll nominaly rcstored but
n any case there will b activity at the Southern wharve
which for four years haye been nearly idle and the voice
Of tho nation viii Be entirely favor Of tho complete
sumption Of commerce Already we have had an indca-
Hon Of the future in the fact that nfy two vessels
elusive Of government transports left New York between
No lss and the 18th instant for Southern ports,
eighteen Of which cleared for Richmond and the
James river ok for Charleston, ax for New
Orleans four for Mobile, six for Wilmington
aad Beaufort and ten for Savannah and fernandinA
All these vessels took cargoss, largely composed Of
foreign gooda the Of which wish hotter than
70 barter them for Southern products The South -
stripped q supplies and will absorb for the nett two
yea Ut ieas than she give In return in the
form Of cotton and tobacco The reopening Of the ports
aet to the injury Of trade and which will do much
10 substitute harmony for the dscord which has marked
The last four years rr4
Tho opening quotation for gold 1915, from which
thors was steady advance 70 1s2x. AZ i've o'clock
2. n IL stood ~ lax.
Foreign exchange 10 Arm, and both bankers and pro-
ducs bills hAvo been in brisk demand Bankers ster-
ding o. sixty dayS quoted a no. Some drawers ask
HOY, but transactions had taken place at 1921 Nor
e~ntis bills are current o. 100 1ooH. Bankers bills
q three days b bought ut 1lox.
Money b In excess Of the requirements Of borrowers
per cont Most lenders ash the latter rate, but
transactions u tho former are common Tho Treasury
Department guarding The market against the posi-
billy Of stringency by making is disbursements follow
Immediately upon liz draftS The discount line con-
unues suggsh and nrst class commercial paper rated
ss6s per cent.
We Observe that several politicians have been men
toned candidates for the position OF Treasurer in
This CITY, which will be vacated by the retirement
OF Mr. Stewart TO assume the Presidency Of the New
York Trust Company II n, however, 70 be hoped that
no politician win be appointed 10 the odce which Is ono
Of great responsibility, calling for the closest attention
Of practical man oonversant with accounts. II .
mere politician wsre - b appointed 10 the once
the Pub Treasury building would be In danger OF
becoming tho rendezvous Of hungry aspirans for place
and plotting parssns and who knows how soon dcfal
cation among the subodnses appointed because OF their
political influence might follow,
The aggregate value Of the exports, exclusive Of spe
ce from ths port Of New York 70 foreign ports for the
week ending May ~ was 81 o53,3Se.
The business at the Sub Treasury to-day was - fol-
lows
eseCeipt3 TOT cuStoHS
roCeipd
o,otS W.