The New York herald., 1865-05-30
FINANCIAL AND coMmERcsAL


without change niros csnirA was n lower Rock is!ans
q, Fort wayne " Northwestern e. Government sect
rifles we're nacuvs bus steady. Coupon dve.twennes
cold ai losk . y, new Issue Iosx y, tesforsss
WxsX
Al the open board one o'clock the market ccnhuued
steady portion OF the list, but shade lower On
the remainder Al The second regular board wu ntter
heavy, and sellers options a. thirty days wsse pus oct
freely Erie V higher than ., The close Of The drs
board Hudson River y, llsnois Central ~ Quicksilver
New York Central was y lower Reading y, kichh
gas Southern \, Cleveland and Pttsburg X, Rock Island
u. For Wayne 4, Ohio and Mississippi certificates u,
Northwestern x The latter was the weakea stock Oh
the list Governments we're dull and barely
steady. A. the open board, M ball. past three
the market showed increasing heav,ness and general
decline took place Erie sod the call II '2x .
72x, New York Central So Hudson River 10 g. 97K.
Reading ELK, Michigan. Southern SIX . IS. Cleveland
and Pittsburs 81 60A, Rock Island ssx S3k Cevs.
land and Toledo o. Northwestern an. Ohio and Mssis
spPi certificates FAX . "a, Quicksilver 6oH ooA.
Later the street there further depression. ana
Northwestern sold down 10 2ox The market closed
heavy There is little disposition 70 operate for
RISE and although the bull leaders support the market
BY taking what the bears Offer this 10 not sufficient to
fully counteract ts downward tendency 10 the absence
OF outside buyers The spirit OF speculation the
Stock Exchange At present presents bui gimmer OF s
former SELF and the depression which Is creeping
typical OF that which before long must overtake
the whole country We have In the maintenance Of
glorious and righteous cause bad occasion TO tax
supplies OF money and labor beyond current
sources, and as natural Consequence, moro or less
temporary exhaustion must follow
The gold market has been free from excitement but
Its tendency has been upward The opening quotation
1885, from which it momentarily declined TO 135x
~ but afterwards gradually to l37 the price at
twenty minutes past one NJ II subsequently re.apsed
to 1854 but after Eve p M had risen to i37X.
The Volume Of speculative transactions s not large and
cash gold abundant owing to the Withdrawals or specie
from the banks and private boards consequent upon the
recent rise.
Foreign exchange has been in brisk demand and,
owing TO the extreme scarcity Of commercial bills bank
hsveto rely upon specie shipments 10 cover their
drafts Leading drawers ask lloHs for sixty day
bile but ransactions recorded al ITO and ll0X
for short sight Merchants bills are quoted at i09H
y. Our foreign trade 10 operating very
inuriousy against us in draining The country of
the gold which Ill afford to lose in view Of the pre-
suspension and the future resumption Of specie pay
msnts The shipment Of gold last week exceeded two
millions three hundred thousand, and In the previous
week three millions Our receipts OF gold from
California, on the other hand. have been foliows:-
The OF the 9th instant brought 1904 that Of
the 18th $225 37o, and that OF the 25th $367 093 The
total receipts in January we're 042347 February,
ST. 844 2l4; in March, ST. S25 S2 and in April g. 1885, 63I
Ths makes total Of O54, ,oe2 since the st OF January
above the average OF former years. the receipts
during the corresponding period Of 1904 having been |
only &5,lo7,51S, and for the time In 1868, |
&C., 1871; but Is still, quite inadequate to meet the
drain which has set 10, and which must under
present crcumsnces continue unless foreign trade
Is 70 be utterly parayzed notwithstanding specie
exports have been unusually light for months past
they have aggregated 3l sss 900 from this pert sbco
the lst Of January-a srm considerably above the
ceips Neither look for Any matera, Of
tho latter for the total received from California
in the year 1893 only $ll, ,oo5 41s, and iu 1894
$12,o o67. The amount Of specie In the banks
and Sub Treasury in this city the LIST Of January
only $50 ,45o, which, however, WAC increased
owing light imports and merchants and bankers
dcerng their remttances In anticipation OF the decline
Of the prcmiun-to $50 s97 os7 the st Of May But
this total has since been reduced by the shipments
Against this limited supply OF specie there demand
for about million and half week for customs duties
this port the receipts under this head for the week
ending Saturday last having been 81 s63 besides
the export demand and It unfortunately happens that
there Is very profitable market for produce abroad
tho present prices hero and there Tho consequence
that markets being uDprecedenty bare OF foreign
goods compelled TO import much moro than we |
export and as the general conditions Of our foreign
trade apply securities. thefo poih:ng with which
We can pay balances except gold We are, therefore, for
the time being actually depepden. upon a rise Of the
premium for an active export trsde-A most anomalous
condition OF affairs, il must be admitted And such arc
the interests Of trade that there but few OF the
camille community who do not secretly rejoice over
in gold when II is remembered that the banks OF
Boston, before the transfer OF any OF their pumber to tbs
national system began bsd but nve millions Of spec,e
itch has been reduced less than two and half
millions; that the banks Of Philadelphia hold but
one million two hundred and eighty nve thousand dol
lars and that all the other banks the Northern West
sud Middle states-Caifornia CT course sSciYded
have aggregate Of net more than zine millions Of |
specie will be that the supply Of gold outside Of
private boards Ia by means sufficiently large TO en-
courage the idea OF speedy resumpoa Of srscie pay
ments The banks Of Illinois ha'e only cno million eight
hundred thousand dollars IN srece, and those OF wiscon
sin million three hundred tbocsand The fact is we
have been gradually losing our specie since the com
mepoement OF the war; and present appearances indicate
further exhaustion OF the remainder In the future.
The money market, under the rather light demand
from the Stock Exchange Is moderately easy at six per
for call loans but the rate is orm, and exceptional
transactions have been made at seven. There Is no
for apprehendng stringency as h Is the wsh Of
the Treasury Department TO keep the supply Of funds
at groat centres In Of the requirements Of
borrowers The statement Of the associated banks for
the week shows certain amount Of contraction. The
loans have decreased the deposits 77a7os
and the specie ST. o473 The circulation exhibits
increase of $2se4o The supply Of legal tender paper
IL reduced little than million The discount
line without any special feature beyond dulness and
nrst class commercial paper rated at per cent
and the middle grade nj t9a1o
The surrender Of the rebel forces In tho Trans Mis-
sssippi region disposes matter Of course, with the
restrictions hitherto imposed upon trade with the foreign
ports under the Enelsh Spanish and Mexican govern
adjacent to southern ports west Of the Mississippi
day q shipment from this city TO Matamoros was
made without the shipper being required to give bonds
by permission Of the Custom House authoritiea This
the nrst OF the kind which has taken place for three
years aud bali That part OF the Presidents procla