The New York herald., 1865-05-16
FINANCIAL AND COMMERCIAL


~ stosn vssynsx - Sevsa a sueeuaSfvs aetviey
- strength as We ns board 70 6ay and - ths call ~
sassed quotations declined AZ the Close New fesa Cen
nal was TX lower than a the 6rst beard % Saturday,
Erie y, Michigan Southern y, Hudsoa Rver J. Heading
M Illinois Central n Cleveland and Pisssoarg = Son
Wayne l. Rock Island was 1k higher, oucss'iver IN
ohio and Mississippi certificates and Cumberland were
unchanged Government securities were heavy under
&c European adyoes reporting avetwenues at eS "a
an tho London Exchange the 4th inst Tho
ION clause Affecting the remaining two handred and
n6ry millions OF the seventhirty loan published this
uroruag also exerted depressing influence upon tho
reid bonds The report says THAI "tAe gover1-
ueus will reserve TO itself the option OF
saying interest in gold coin at the ratio Of I per cent
instead of and three -tenths in currency" Bat
the question arises will the act Of Congress authorizing
ho loan bear such construction as is hero impledi
me &c. tho Of bonds n six Per cent sr
sstee and three enths both; but makeH no
pecial provision paying tho Interest the notes in
Me suggested II would have been bottor for
he Secretary Of the Treasury reduced tho
the remaining two hundred and thirty mill ions to
x per cent in currency at once, nj which rao could
aeay effected the sale OF the whole amount by popu
say subscription ryctwentes Of the old issue cncd on
se call TO RO3h but recovered to 1885, beinf decline
Of from Saturdays board price The new ISSUE was
X lower, ten -forties ~
AZ she board N one O'CLOCK p1ctb were sfsade
setter but the market without spirit At the second
sssumr the Improvement was more decided Erie
sosed higher than at the first board, New York Con-
sall% Michigan Southern ~, Hudsso River \, Read
eng aA, Cleveland and Pittsburg Z. Northwestern X
Rock Island l. Fort Wayne l. Ohio sAd Minssippi Ger
.rAcatcs ~ Cumberland was 4 lower. Government 60
susisies Hrmer xes Of lSSa excepted, which de
sl1ned e. Coupon nve-twenttes advanced k At the
spen board st past three quotations fraction
sigher New York Central csosed at o. Erie TIN, Read
ting ssX, Hudson River 1oa Michigan soathern 'eaK,
cleveland and Pttsburg esk, Northwestern 2sX, Rock
'Isand o. Fort Wayne AZ Quicksilver tsk Specula-
don se Stock Exchange as quiet Operators are for
,hc NEST part uncertain about the immediate
~sH ass tho ultimate future Of the market,
ssd shis unsettled state Of feeling causes
4 70 sangush. One theory favors q period Of active
speculation after the balance Of the loan s
subscribed for which viii cause the people to seek
channels for the employment Of their money, portion
f which may be expected TO ind its way to the Stock
Exchange. contrary opinion Is that considerable
amount Of capital will be diverted TO the South and that
he condition Of tho roads, their earnings and future
tvidcnds will not justify much higher prices The
'eading bears meanwhile losing opportunity to
iepress the market
Gold has been steady, with slightly upward tendency.
The opening quotation 129sl, from which 1t immc
lately advanced to 130X afterwards relapsed to 129A
bat recovered to 1903 at Ave p NJ
Notwithstanding the daily subscriptions
no thirty loan there is danger any stngency
q the money MARKET although the current for loans
may six per cent but will be
,vng increased demand than curtaiIed sup
piy. The funds paid into the hands Of Jay Cookies
agents. after being drawn upon by the Treasury,
kapsly dsbursed, that stagnation Of capital |
>csurs and as htte possible il withdrawn from |
Ne seaboard centres and New York particular The
prehensiNns Of srngency which felt towards the
ose Of last week have been almost entirely dsspated
nd loans made freely 1t Ave per cont The dis.
sOsns nRe continues duh, and nrst els1 commercial
saper rates at per cent The bank statement shows
in loans Of about four millions deposits
u three millions. and in specie Of three and half
N stock Of legal tenders has declined I've nlions
sHi.g 70 q shipment TO New OrieanA
Foreign exchange 10 arm, but the demand for bills
active Bankers ask ITO for their sixty days bns
sus this rase ID not fully responded 70 By buyers MeE
,antiae bills are scarce and command from 1oSx 70
cox.
Ae advance iuthe Baa Of England rate Of discount 70
AZ per cent In accordance with prediction and
Ae tendency ID towards . further advance
fhe annual meeting Of the stockholders Of the New
Yesk and New haven Railroad Company will be held on
Thursday next 18th inst The report Of the directors
,sred for presentation the meeting that
facts especially interesting TO the stock
NDiders of the road The result Of the transportation
during the year just closed has been as fol-
Sws:-