The New York herald., 1865-06-23
FINANCIAL AND COMMERCE
THURSDAY. Juno 22-o ?

lNANOtAI HiNC SO'u'"EssO'E-'
THURSDAY, June 22-oP. M
me stock market very aull but firm at the nrst
board this morning New York Central closed higher
than at the second board yesterday Hudson h'er "a
Michigan Southern y, Cleveland and filIsoufg' "a
Rock Island u, Illinois 6entral !, Erie y 1oVernmen'
securities were frm Coupon Gve-twenues ao'ancea
X en-forties sold at 95iz an advance OF upon 'he
last sale Cleveland and Pttsburg was the most aclvo
stock on the list under purchases OF nearly ton
thousand shares by clique. At the open board
at one O'Clock the market was heavy and prices
were Y a per cent lower At the second
regular board prices shade higher but the market
was stagnant Erie closed u lower than al the nrst
board. New York Central y, Reading Il, Michigan
Southern r. Illinois Central u. Cleveland and Pitsburg
was u higher Government six per cents we're heavy'
Coupon hve-twenties u lower Ten-forties were
steady The demand for the latter from the new national
banks as basis Of circulation keeps the
stock Hrm with u tendency towards a fractional ad-
vance At the open board at one O'Clock, the market
was stronger, and advance Of u took place in
most of the shares New York Central sold at 3d. Erie
75x, Hudson River loSz, Michigan Central loS11 Rock
Island 9Sx, Michigan Southern 63h Cleveland and
Pittsburg 6SA, Fort Wayne s5ss Cumberland $50 Az
Later the market was steady The Of business in
the svery limited owing to tho absence from town
OF some of the brokers and operators and indspo
ston on the part of those remaining TO make new con-
tracts pending their summer absence in the country
The condition of the money market Is, however, iavor-
able to specuations for rise. Call loans are made freely
ut 1--WE per railroad securities and as low as four
on government colateras Commercial paper continues
In very limited supply and the best grade s taken at
7 per cent the next best varying from IN to o.
Gold has been the whole steady, although Its frm-
ness during the morning not fully maintained in
sha Cash pold carCe m
per per day is the general rate at which it loaned
The quotations were:-
1880 A. M........ 142K $3.50 P. M.......... 1929
u:25 A. MINI. 143 $500 p. M.......... 142
lOO L. M......... l4zA
The foreign exchange market has been rather quiet
Bankers ask ITO u for their sixty days bills, but
transactions have taken place low as 100h u. Mer
camille bills quoted at 100 q, and bankers at short
sight 110%.
The appointment OF Mr.. Van Dyck, the Superinten-
dent Of the Bank Department Of this State TO succeed
Mr. John A. Stewart Sub Treasurer sannounced from
Washington official authority. This gives great salts
faction to the financial community here, who were ap
prehensve that the Secretary Of the Treasury might fall
into the Of giving the office to politician
who, without understanding his duties, might at
the same time be tempted to his position for the
promotion Of party and other purposes Mr.. Stewart
the presidency Of the New York Trust
with him the respect and esteem Of all who have had
Official relations with him.
Mr. Jacob Russol who has just resigned the position
of cashier Of the Sub Treasury had occupied it for six
years. and 1t is stated that he will receive
appointment in connection with all the Sub-Treasuries
The waste Of trouble and saliva which is at present
involved in complying with the Internal Revenue act,
with regard to stamps is source Of great annoyance TO
the business public and which calls for the estab
ishment Of stamp Office such as exists In the capitals
of each the kingdoms of England Ireland and Scotland
Stamped paper bought from the stamp offices there
and kept for sale by the law scveners and lcensod
dealers in stamps throughout the country Bankers
merchants and others send blank check books in large
quantities the stamp offices be stamped with press
mark and kept for This process involves nero in
dentaton Of the paper and dispenses with the use of
ink and gum. At the same time 1t obviates |
the risk Of stamps which are affixed coming |
off, which in the Of legal instruments is important
BY the of private marks also in the stamp It be
asceraned at any time in what year the impression was
made and in this way the forgery Of important docu
ments has been detected Where the stamp Office
furnishes the paper. extra charge is In
variably made for the same, but where tho
applicant for the stamps sends his paper the net
tax only is charged. We recommended the subject TO
the attention of the Secretary OF the Treasury and the
commission of three sitting TO inquire into the ways
and of improving the revenue and simplifying
taxation. There should be stamp o1ce In the capital
sf each State and by establishing at the headquarters
OF the Internal Revenue Department 1t could be done
with little or no expense beyond that necessary for pur
chasing stamping machines.
The sudden disappearance OF the leading member OF
prominent firm In the provision trade-Eastman Il CO.
is the topic Of conversation both in Wall street and on
the Produce Exchange. The absconding party is re-
Atpexo dtfotla
circumstances, TO an extent variousy estimated
at from $3.50 900 TO half q million OF dollars
It appears that he entered into stock opera
tions some months ago, by which he made large
OF money, but the tide Of success turning he was
eventually considerable loser The amount he lost in
cash was, however, is represented on good authority,
too inconsiderabe namely $25ooo to be the cause OF
his failure He gave notes for balances against him with
his brokers' which maturing and unpaid that the
latter may be considered sufferers alike with his
other creditors. II ia understood that he drew
from his bankers all the money belonging to
his hrm and something more amounting In all
TO about hundred thousand dollars certain ware
housenan who Is supposed to have acted in coIlusion
with him in obtaining advances imaginary barrels Of
lard stored with him, Is also reported to be missing.
The Secretary Of the Treasury has just issued the fol-
lowing important and timely order in relation TO the
collection Of revenue In the Southern States:-
TREASURY DEPARTMENT, June 81, 1865
Section 90 OF the Internal Revenue act approved June
30 1864 provides that whenever the authority Of tho
United States shall have beon reestabshed in any Stafe
the execution OF the laws had previously been i'm
possible the provisions OF the act shall be put in force
in such State with such modification OF nappcabc
latons in regard TO assessment, levy time and manner
Of collection may be directed by the Department
without waving In any degree the rights Of the govern
In respect TO that heretofore accrued
assuming 10 exoneralc the taxpayer from his legal re-
sponsbinty for such taxes the Department does not
deem advisable IN insist at present upon their pay
ment far they payable prior 70 the establish