The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-04-30
FINANCIAL AND CONNER GAL.
SATURDAY, April 29-6 p. N

FINANCIAL AND CONNER GAL.
SATURDAY, April 29-6P. NJ
The stock market has been active to-day, with up
ward tendency At the first board New York Central
higher than the second board yesterday Reading
~ Northwestern u, Rock Island IL Fort Wayne and
Michigan Central declined y, Michigan Southern 70,
Illinois Central IL, Cleveland and Pittsburg u, Quick
silver1
Government securities were strong Coupon five
twenties Of the old and new issues advanced u a u,
skies OF ISL q, tenfortes y.
At tn open board at o'clock the market was
stronger New York Central sold at l0Oia, Erie s24,
Hudson River ia, Reading l07K, Michigan Southern
Tx, Illinois Central u.s. Cleveland and Pittsburs SOY
Cleveland and Toledo 1Oe, Rock Island 1885, North
western 80, Milwaukee and Prairie du Chen 431S, Fort
Wayne 1917, Ohio and Mississippi Certificates SlH
Canton Company 47k, Cumberland 6ln, Quicksilver
63x, Marposa Il
After the board the market was stronger, and Erie
closed at s314 1 New York Central 1927, Hudson
River ll44, Reading lO6N, Michigan Southern e2h,
Illinois Central 1894 Cleveland and Pittsburg 500, Rock
Island lo4, Cumberland 5o other quotations being in
close sympathy Governments higher at the close
of business, 189A u being bid for fve-twenes.
Gold has been steady, with an upward tendency, not
outstanding the surrender Of Johnston's army. The
quotations
1890 A. M..........14sH 200 ?. M............1 4e
II 80 r. M...........146H 44O 7. M.....-... l4o7s
There is change in the prevailing ease In the money
market Call loans are made on government collateras
TAX per cent, and a per cent on railway and
miscellaneous securities. First class commercial paper
is quoted at 9 a per cent.
Foreign exchange has been inactive usual satur-
day Bankers have asked lOsX y for their sixty day
bills, but these have not been fully maintained
the streets.
The steamship Germania took out $40 in specie and
the City Of Baltimore S9,999-making for the week
S1sS, 1893
The new public Petroleum Exchange will be removed
from Broadway to New street Monday next The
membership fee will be a hundred dollars per annum,
but the public will be admitted free.
The Directors of the First National Bank of New York
have this day declared the fourth regular semi annual
dividend Of ten per cent out Of the net profits Of
the last six months payable and after Tuesday, May
2, at the bank, No. 40 Broadway.
Gilpns Merchants Exchange Reading Room in Will
liam street. closed to-day One portion of it for
merry used the Gold Room, and such it is well
known TO all Wall street men.
The following the details OF the indebtedness OF
the State of Missouri provide for the payment Of the
principal and interest of which the Financial Committee
of the late Constitutional Convention passed the remarka
BILE ordinance which recently published
Bonds issued for state purposes ........ s802, 900
guaranteed bonds) observation-disclosures. %, 7O1, 900
Revenue bonds issued in 1851 mine per cent?,
now que. .-...................... 43l,0OO
Interest due on bonds issued to railroads
January l. 1861. 5,Oos, 240
Money borrowed by Governor Gamble to pur-
chase arms. ...........~............... 10000
Amount Of defence warrants outstanding De-
cembcr l, 1864 ACKNOWLEDGEMENTS. 244279
Amount of Union military bonds outstind-
ing December l, 1864. ................... In $50
Amount due militia for active service esti
mated by Governor Hall ............... 100000
Total. So, 9O7, $40
The general debt OF the Stat after dcductng SIS 09
240 the principal and interest of the railway debt is
only 81 1875 800 which includes the following items less
interest, and these now due
of bonds Issued for State purposes st02 600
Revenue bonds issued in 1851 ............. AL 900
Money borrowed BY Governor Gamble. 10000
Defence warrants oso
Union military bonds. o30
Due militia for active service (estmated) Co., 900
Total ,,O5
The action OF Missouri regarding her finances will, If
by the people the 9th Of June next constitute
IA precedent in favor OF similar action the part
of other States, which will be fraught with
eroa, danger to tho rights of property holders.
In cases OF great urgency Of course where the public
safety is at stake exceptional of the kind may
be justified for it is maxim Of natural civil law ms laid
down by Punendorf b H., cap 49, that 'all citizens
Iha they possess means contribute TO the necessary
expenses the State in peace and war; and further
lib II cap 49, lin pressing necessity of the common
veal, the goods Of any subject which absolutely
required the time may be taken and applied the
public service Grotius, Vattel, Montesqucu Locke
and Palcy equally agreed upon this point. But in
the OF Missouri the question of necessity existing
for her doing the ordinance proposes is at least de-
baabe and where the necessity does not exist oppres
sive taxation is not Justified
Such system Is liable TO encourage corruption and
avagance in the executive officers of State, while II
leaves the property holding minority the mercy Of the
property holding majority The finances of all the
States unsatisfactory condition. their aggregate
Indebtedness having been Immensely increased during
the rebellion; and tn re is doubt that there will be
considerable agitation in and out OF Congress in favor of
the assumption debts of the several States by
the general government. But it is to be hoped that no
such extreme those proposed in the Missouri
ordinance will be adopted get rid of fiscal mbarrass
meu,s huge debt like that referred to cannot he
expcditiousy cancelled by legitimate means, and MIS-
souri will lind to her inter 81 10 be little more con-
servatve in her financial administration than the pro.
cecdngs Of the late convention would indicate.
The following comparative statement shows the
rage condition of the leading items OF the Philadelphia
banks for the past and previous week.
Los Week This WEEK.
Loans. ....... ......... $50 slO5l9 5O,3l9,0H
Specie. ............. .... l,z3.-1oJ lz-b .cs
Legal tenders. i.,yg,zf islss,o.o
Deposs................ IL 49, d4 ~, sol 900
Circulation. .............. 232, 3lj 6,3l3sS9
Reports from the Western commercial cities affirm that
basincss present drags heavily, with immediate
prospect of returning activity Neither buyers sell
lers eynce any disposition to operate heavily and the
daily transactions are confined to local dealers.
The discount the principal cities the Con-
tinenl Of Europe were at last dates as follows
Bank Rae. udrkf.
Paris. .............
vienna. ..-.........
Berlin Observation-Disclosures 81 "a
trankfOrt..
Amsterdam NORTHUMBERLAND. 81 81
Tur Observation-Disclosures. AZ AZ
BRUSSELS.
Madrid. .....s.ss.o ~
HhmDlfg.
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