The New York herald., 1865-05-05
FINANCIAL AND CONNER ClAL
THURSDAY, May 46P. n.

THURSDAY, may 30 r. A.
The stock market rather inactive but firm at the
first board the only noticeable transactions being sale
OF two thousand shares Of Erie and two thousand Of
Michigan Southern The sudden recovery Of prices yes
terday seemed to have insposed the bears to further
hammerng for the time being while the bulls were con-
tent to remain the defensive: New York Central al
the close Y higher than at the second board yester
day, Eric l, Michigan Southern Ohio and Mississippi
certificates y, Prairie du Chen TX. Hudson River
X lower, Reading " Cleveland and Pittsburg u. North
western, Rock Island and Fort Wayne were without
change.
Government securities were quiet. Coupon tsnfortes
TX higher than at the second board yesterday.
Coupon Ave-twenties were steady Private teegrxms
received by the last report Hvstwenties to have
sold the Frankfort Bourse at 70 on tho 23d ut and
that they held at 6s 90 in London at the same
time, both markets being strong
At the open board at O'Clock the market was
per cent higher At the second board there was gene
ra Decline and compared with the closing sales at the
first board New York Central 11t lower Erie 4,
Hudson River l, Rock Island r. Reading ~, Illinois
Central Cleveland and Pittsburg X Northwestern IL,
Fort Wayne 13S, Ohio and Mississippi certificates q,
Cumberland 2k. Government securities steady but
dull
The stock market was somewhat irregular after the
session, and unsettled feeling prevailed. The bull
and operations In Erie have disturbing effect upon
the whole market and quotations in consequence
ratio The great In money fortnes the bulls who
yet capable OF resisting strong attacks by the op
posite party.
At the open board at lf.past three prices were
fraction lower except for Eric, which closed 1871
New York Central sold the call at 97K II, Michigan
Southern 7oh X, Reading 1olk, Cleveland and Pitts
burg TAX, Rock Island loOH, Fort Wayne ss, Cumber
land 4oll, Quicksilver 6lll, Canton 4O Governments
were firm the street.
Gold has ruled about ono ,per cent higher than ycster
day. The opening quotation was l42k, from which at
hapast ono IL had advanced TO 143H but the rse
not fully maintained and at five p NJ stood at 1924
There excitement and very little speculation in the
room which has been in general hut hnly attended Of
late The fluctuations so light that many Of the
spectators who formerly watched them day and
night have abandoned the game as Improbable. But
II Is noticeable that strong houses have been quietly
buying up all tho gold offered since the Treasury
disbursements Of the May interest the fvetwcnty
loan commenced, the expectation being that
after the resumption Of the usual specie exports
arising from the revival Of import trade frmcr
gold market will be Witnessed The reductions in the
government expenditures In progress are however, op
posed TO rise In the premium at present II s pos.
sbe that these may be over estimated as the South will
require be garrsoned for several years and
diminish the Of increase Of the debt and there
satisfactory signs Of prompt action towards this end
The government for instance, has notified hs contao
for coal that supply Of nine thousand tons only
instead Of ten per week will be required in future
The foreign exchange market is quiet and there Ii
disposition among buyers to hold back In anticipation Of
lower rates Bankers are nevertheless not pressing the
bills for sale They AJAX 10ok for their sixty day
bills and per cent advance a. short sight Merchants
bills are quoted at los 1854 The City Of Cora
took out s25, 900 in specie to-day.
The money market shows change. Call loans ar'
made chiefly at ve per but exceptional transaction
take place at four and six The very heavy subscription
going forward 70 the seventAirty loan throughout h
country enable the Treasury TO keep money easy at thu
great centres and those subscriptions tend directly TO
wards the Capitalization Of capital while the payment
deferred claims and 10 the army and navy, N
addition to current oxpcnsss will actively absorb al
the money the Treasury get from this loan for
siderable time 10 come Commercial paper Ia In mode
rate supply and that Of the highest grade rates at
| por cent.
The government auctioneer sold six thousand bales
the Savannah cotton to-day at prices varying from
to 37Ile. per pound, being advance Of &c. 2hc
upon the prices realized the sale Of the 11h Of March
The auctonesr stated that the cston agent reported ha
| only about Ave thousand bales would be found II
/ Charleston.
The doubts which at first entertained respecting
the scope Of the recent Executive order removing 70
stctions upon commercial intercourse with the South
country east Of the Mississippi increasing undc
the announcement that Treasury Official has gone
Richmond, for the purpose Of asccrtanng what amour
Of supplies are required by the people ther
and in the adjacent country pcr month, in orde
| that he may Ak . limit to the commercial inter
course with that section, and issue permit
In accordance under the acts OF Congress and Teasur
regulations the subject II this Is true II affords
key 10 the Presidents order, which shows II TO be
practically unimportant document for virtually cor
vcys no greater privileges for trading with the Sou,