The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-05-10
FINANCIAL AND COMMERCIAL.
TUESDAY, May eL6P. N.


the cose Of the first board New York Central per
cent lower than at the second board yesterday Eric ~
Hudson River ., Reading IN, Michigan Southern l. ILL.,
nos Central Cleveland and rittsburg " Northwestern
~ Rock Island ", Fort Wayne i, Ohio and Mississippi
certificates n Quicksilver ~ Cumberland IL. Govern
ment securities were active Coupon hve-tweptics
advanced " but the rest Of the list barely steady
The advance OF Gvc-twcnes in London to so is anci-
paicd by many, coupled with increased de,naud
which will force the price this side TO liz a ll5
Allowing gold 70 be selling at even 100, the predicted
advance Europe would justify the estimated rise in
bonds here. When consider that gold was selling at
from l55 los the the morning following tho
assassination and that the fall OF fve-twenes
in London the pit of that only to 59
cox. alter which they recovered two per cent,
according 10 private advices, the more readily
allow for the reaction which would follow intelligence of
the decline OF gold to l47 the next business day and
the revival Of confidence throughout the country in the
stability OF the government
At tho open board clock the market was on the
whole steady, although fractional improvement took
place in portion OF tho list At the second board the
market was shade better. Erie was higher than at
che close OF morning board Hudson River H Read
ing y, Michigan Southern u. Cleveland and Pitts-
burg NJ Fort Wayne ~ Ohio and Mississippi
ocrtincpscs ~. New York Central was u lower,
Northwestern u, Rock Island 49, Governments sacur-
ties were nfm, At the open board at halfpast three,
: there was general Improvement. New York Central
closed al sl5< Erie 7oX, Hudson River 1os, Reading
HOOK Michigan Central l1ik, Michigan Southern eex,
Illinois Central (b 1loa< Cleveland and Pittsburg 74k
Rock Island ssK Northwestern 2s>s Port Wayne s7x.
CuribcrIand 4sK. Quicksilver cox. AFTER the board
prices wer6 steady. 81" g-t .N'
The stock market 10 unfavorably Influenced by the
decline in gold and tho bulls have great dcuIy In
tanning It. It's main stay is Erie, which is somewhat
strongly held but without outside purchasers ne fall
only question Of time The Western railroads in par
ticular have weak financial bold Of capitalists Their
earnings for April show large falling off, owing chiefly
70 the decline OF prices for produce which necssa.cs
cheaper means Of transit Moreover II is estimated
that the tonnage of the lakes eastward bound is
not half what II at the corresponding period last
year. the quantity Of grain for instance In Milwaukee
and Chicago being about third Of that in store there
at this me last year. The diversion Of traffic from the
railways TO water conveyances will operate dsadvan
tagcously to the former it will result m reduced re-
ceipts while the expenses show little or no diminu
ton. Nevertheless the prevailing ease in the money
market Is highly favorable to speculation for rse but
requires understood that neither the present nor
higher prices will be permanent
Gold has been weak today. The opening quotation
1917, which 1t declined to 135X; but it rallied
and clos at r. H. at 1861
The fall gold OF the signs Of that revival in
confidence in the public credit which is natural consc
quence OF the downfall OF the rebellion and the limita
ton of the national debt We may now safely assume
that the Immense indebtedness have incurred is
within control OF the nation, whereas, while the war
lasted the ultimate extent Of the increase of the debt
was matter of uncertainty and the public credit was
meanwhile exposed contingencies which mi sht have
led grave disaster Vast resources are another
year OF would have seriously jcopardzed the sol
vcncy OF the government, and, therefore, we have rea
to congratulate ourselves on the approach Of pcacc
and the end OF the rebellion peace aud the resump
ton Of ordinary peaceful industry by those here
tofore engaged in the army and navy. There is
no present danger Of European war, and
demonstrat ons against Mexico, II they occur, will
DO mere ilibusering expeditions. The growing con.
ndenc, OF tho people in the ability Of the country to
liquidato It's debt within much shorter Dnod than is
generally considered practicable will require to DO sus
tanned by Congress during the session. passing
solicitation BILL and another bill enforcing the provisions
Of former measure for providing sinking fund; pro-
vided the people wiling the entire debt Of the ma
demonstrating 1t at three thousand mlions-rnay be
extnguished in single geneationsay seventeen years
and six MONTHS and propose soon submitting the de-
tails OF plan for the accomplishment OF this II is not
In the genius OF the American people to carry forever the
burden OF heavy national debt, and some more expe
dtous method for its liquidation must and can be found
same time, Infinitely advantages than any other
country possesses for paying great debt as well as
waging great
There is no activity in foreign exchange The rates
arc, however firm. Bankers ask 1924 Ito FOR their
sixty days bills, and 1l05s lloX at short sight. Mer
chants bills at 10S1 109k Money re-
mains extremely abundant and excess of the demand
Call loans made at Ave per cent aud In exceptional
six and the best grade of commercial paper is
taken at Gas .M.
The subscriptions to the thirty loan increas
Ing and today Messrs Fisk Hatch, Of this city report
ther subscription at the OF $3.50 400,
to which Henry Clews Il Co. add million and
the First National Bank half million. Only aboat
hundred and fifty millions OF the throe hundred MI
lions put upon the market under the last act OF Congress
remain TO be taken Another three hundred millions,
making up the six hundred millions authorized, remain
10 be disposed OF afterwards but is expected that the
government will require to issue the whole Of this
on the present terms aud advise reduction Of the
OF interest the second three hundred millions to
six per cent in currency The unpaid acquisitions, in.
GLIDING quartermastcrs vouchers, at the present mo-
ment arc supposed aggregate about hundred mil
lions We notice that subscription OF nfty thousand
dollars was received yesterday from national bank at
Richmond Virginia.
Mcssrs Fisk & Hatch bankers and dealers in govern
mcnt securities, have today removed from Wall street
to tho Continental Bank building No. Nassau street
The gross earnings of the Racine and Mississippi and
Northern Illinois railroads from January l 10 April 30
I'll year amounted to s1i7 33-ncrease over the re.
ccipts during the same period last year 1913
The New York Central Railroad earned in April, 1894
$l1os,ee3, and in Apri 1895 $500 ooo-increasc
Seas
Counterfeit five dollar bills raised from ones on tho
Atlas Bank Of Boston arc in circulation.
Counterfeit two dollar notes the Peoples Bank OF
Roxbury Mass, have been detected They are unlike
the genuine and may be known by locomotive and rail-
road train in the vignette, with the word two cah
upper corner and figure on lower right hand
The aggregate value Of the exports exclusive of SPECIE
from port of New York foreign ports for the week
ending May Q, was $l,757,l5l.
The following comparative statement shows the aver.
fho Of In lin