The New York herald., 1865-05-20
FINANCIAL AND COMMERC ClAL.

FRIDAY May 19-6 NJ
The stock market firm the street this morning,
but at FIRST board dull almost TO sagnation,
and prices had therefore, sinking tendency AT the
FIRST board New York Central closed u higher than at
yesterdays second board, Erie Il, Reading l, Hudson
River u, Michigan Southern Il, Cleveland and Pitts
burg u, Fort Wayne ~ Quicksilver Ia. Rock
Island 4 lower Ohio and Mississippi certificates
q, and Northwestern H Government securities
were heavy and neglected. Coupon fvctwenties
declined h At the open board at O'Clock the mar
ket fraction lower, the speculative feeling being
exceedingly tame At tho second regular board it was
without Improvement. AT the close New York Central
lower than at the rst board, Erie 11S, Hudson
River n. Reading u, Michigan Southern y, Cleveland
and,Pitsburg Y, Fort Wayne ~ Quicksilver u Rock
Island and Ohio and Mississippi certificates were
s,cady. Government securities nrmer. Coupon
dve-twentcs advanced 4. At the open board at
hapast three the market lacked spirit and quotations
declined. Eric sold at 70H 4; New York Central,
s9x Y; Hudson River, 99K Michigan Southern, 60i<;
Reading, 92x; Cleveland and Pittsburg, 63x; Rock
Island 98sS Fort Wayne, 90; Cumberland, 37< Quick
silver, "a.
Tho stock market has but little animation, and timd
operators either disposed to sell out or ndis-
posed to buy. The prevailing depression has made
some "bearr converts, but considering the easy
condition OF the money market, II Is somewhat
surprising that there Is 80 little speculation.
Loans have been made freely at per cent on call
to-day but the transactions at SIX worc perhaps, more
numerous than yesterday. Commercial paper OF the
bost grade is in limited supply and is still quoted at
q 8 per cent; other grades at & 10 per cent The
number of outside spectators in the stock market Is
small and therefore it is practically what is called "a
brokers' msrkct,r in which the latter prey upon
each othcr But, nevertheless IL would not DO
unreasonable to expect reaction from
tbc drn cggiDn
be accented as sign of hopciossncss the part Of the
bu leaders II will be encouraging sign for railroad
companies however, when their stocks cease TO be regu
lated In price by the manipuaors Of Wall street, and
is not unlikely that in very few years
hence tho railway stocks of tho country will
have been bought up for hvostmcni, 80 that
speculation in them ~ill DO confined within narrow
limits II Is notorious tas the best managed and high
ct priced roads are whose stocks out Of Wall
street, for speculative fluctuations expose directors and
other officials endless corruption and Encouragement
The gold market was Hrmcr oday than nj any timo
during the week, owing TO demand for export The
opening quotation 1907, from which rose TO 13l "
and closed at five p. H. M 130kax
Foreign exchange is lrm, bN buyers continued to
hold back Bankors AJAX 109X ITO for their sixty day
bills and transactions recorded at 1907 T The
preponderance OF imports exports and the prospect
OF the continuance and increase Of this feature OF our
trade arc calculated to keep rates firm. The exports
from this port for the week ending May wero valued
at only s1,3i0 500, and for tho succeeding week at
81 1877 Isl Tho imports, on the other hand, for the
week ending May were valued in gold at a. sSl,
and for that ending May l8 al 81 ale3ss Merchants,
| bills are scarce and quoted at 1854 10oh
An interesting dispute is going forward among the
members OF the regular Stock Exchange as to whether
those Of their number Who also members Of tho Geld
Room ought to be allowed TO buy and sell govcrpmcnt
curcs in The latter These called three times day
there but yet the transactions have not been very
considerable owing the opposition OF the regular deal
in Wall street II is argued by the support Of the
Cold Poom market that az the Calls in II do moi
occur simultaneously with those in tho stock beard
therefore they d9uot conflict, and that tho s.oos