The New York herald., 1865-04-22
FINANCIAL AND COMMERCIAL.
FRIDAY. April 2l-6P. M.

FRIDAY, April 21-6P. NJ
rre gold and stock markets have been quiet to-day
under prevailing indisposon to speculate upon their
future pending the passage Of the remains Of the
late President through the city and the full resumption
Of general business Stocks were however, moderately
xlrm in the morning although somewhat irregular and
strong late in the afternoon, and gold closed at an
advance of 2X upon the opening price. The supply
Of gold on the street is light, and the return OF
some parcels OF fve-twenties by the Persia, toge
ther with advices regarding future shipments, has
impaired strength TO this and the foreign exchange
market The falling off in exports, together with the ex
ected increase of mportsour stock of foreign merchan
disc being at present unusually smalloperates In the
game direction, while the policy Of the administration
is looked forward to by some as likely TO conduce TO
activity in the Gold Room In other words the general
opinion is that gold is cheap; but on the other hand
there exceptions who believe in materially lower
range within the month The quotations during the
day were-
1880 A. M.........l47A 2:iS r M........I4Sh
The members have resolved to close the room on
Tuesday.
At the first session of the stock board Erie was 2z
higher than at morning board Monday last but
the rest of the list showed decline New York Central
OK lower, Illinois Central 63S Michigan Central z,
Michigan Southern u, Cleveland and Pttsburg Ia,
Fort Wayne d, Reading AZ, Cumberland q Govern
ment securities steady but inactive. Coupon five
twenes sold at 107 At the open beard at one O'Clock
quotations fraction higher for railway and mis-
ceaneous shares At the second regular board there
a further improvement Erie was ~ higher than
at the close Of the first board New York Central %,
Fort Wayne l, Northwestern K Quicksilver was ~
lower, Reading " Coupon tcn-forties rose to OAK a.
IF nd fye-t
dull and u u lower. At the open board
at half-past three the market was buoyant and
quotations II IL per cent higher. Erie closed
at 76}s, Hudson River 107 Reading 1034, Rock
Island 95t4, Michigan Southern 63%, Cleveland and
Pttsburg 1871, Northwestern 29H, Fort Wayne 96,
Cumberland 471s, Quicksilver SO.
The easy condition of the money market is highly
favorable to speculation for rise in stocks the supply
of capital being of the demand at from four to
six per cent call But the fact that the stock market
is under the manipulation of the brokers' and that the
outside speculation in it Is Of transient character Is
not calculated to strengthen conhdencs in the per
manence of the rise Meanwhile the bulls have an ad-
vantage the facility with which they carry stocks
In the discount line prime paper passes at per cent
Foreign exchange is very firm. Bankers ask 109H
109A for their sixty day bills and sales have been made
at 109l4 109. Opinions among those most interested
in the of exchange favor steady resumption of
specie shipments the theory that for considerable
time come the Southern country will absorb of
foreign products than il will export of native The
Southern ports it is argued not likely to be
opened and when they the stock of cotton tobacco
and other produce available for commerce will not be
likely to prove largo is generally supposed 1t
has been estimated that there million and half of
bales of cotton Georgia and million in Alabama and
million and half elsewhere, making four millions of
bales all slowed away in the South; but there not
sufficient data by which the of this estimate
be proved. is mainly based upon conjecture as
of course, anG If approaching to accuracy
the staple is still exposed 20 certain contingencies before
reaching hands the marts OF commerce. while in
the interval there viii be crop planted by the
rebels.
The fact also that there nearly three
hundred millions Of hve-twcnty bonds in Europe is
an element of weakness in national finances, ii con
stutes obstacle to that extent in the way of the ap
prcciaon of the currency The bonds in this market do
not rise with the fan OF gold but, the contrary, their
tendency is to sympatLse wish it. Every fall in the gold
premium requires be met by proportionate advance
in the price of these securities abroad; failing
which profitable market is opened this
sid to the European holders of the bonds
The result is that they liable to be returned
here depress the price OF government securities and
advance the gold premium AT present the difference
between the price Of iyetwenties here and in London
seriously against the home Market and foreigners
abroad had never taken dollar of debt 1t would
have been better for The quotations, in London
for Illinois Central Reading and Erie railway stocks
sufficiently below those current in the home market
to make their proltable; but this is Of compare
lively little importance. i
In stating yesterday that with the present income of
the national debt could be wiped out in
years did to be understood intmatng
that the government viii be likely to adopt cal
culaed exngush tho public liabilities in speedy
manner. The payments after complete restoration Of
peace, will probably be made upon scale less rapid {
The one two and three years compound interest bearing
legal tenders the certificates of Indebtedness the bonds
Of 1867 and the three years Treasury notes will be
likely TO be redeemed in the order in which we have
placed them with perhaps steady retirement all the
while OF the greenbae& currency. The bonds known
the ve-twentes would then fall in OF cancela
ton the smaller loans being paid of in the intervening
time they became due The payment of the ten for
would follow leaving tie bonds Of 1884, amounting
TO nearly three hundred millions, be used basis
for the circulation OF the national banks.
The importaons Of dry goods this port during the
week ending April 10 compare follows with those of
the previous week
Vesk ending Week ending
Apui IL. April 10.
Entered far Constrapn Pigs Taue Pig. Vaipe
Manufactures Of wool. S9f $2Ji, $50 430 $127 160
Manufactures Of cotton 363 1l3,l92 2S8 90, j63
Manufactures Of silk. 2l3 2l6, al 1876 1851