The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-05-14
FINANCIAL AND coMMERc'A
s.runrAY. Nav Is-sP. NJ.


SATURDAY May ls-sP NJ
The stock market active but somewhat unsettled
this morning Al The rst board moderately firm,
bat during the rest of the day it, tcndoncy was droop
iag slight but Irregular fluctuations ~ intervals
New YORK Central q higher al the close Oh The nfst
board than at the second board yesterday, Ere -, North
Z, Rock Island y, Quicksilver ~ Reading
"a over, Michigan Southern q Illinois Central
Clevelsna md PtsbJrg 4, Fort wa5ne a, Cumberland
4 Cow, anent securities were shade lower Coupon
nvs.tws % declined 4 p, skies Of 1881 y r. Coupon
ten-forties advanced Is AT the open board at one
O'Clock the market active, but per cont lower
New York Central s6t on the call SOY ~ Erie II
sS1 Hudson River ILL., 99K, Reading 90 9o7i, HI
nos Central ia Michigan southern o0A, Cleveland and
Pittsbug IS 62E, Prairie du Chen 80, Rock Island
ssx Fort Wayne e2A Ohio and Mississippi certificates
aek Cumberland S9s< 80, Quicksilver 5a,k.
Afterwards, on the street, the market was weak and
Erie sceded to s55s steader feeling ncc'aded, at
tended by Improvements In quotations and ut four
p NJ Erie was setting at 7sk, New York Central 70 ~
Residing s1h =, Hudson River l0i a. Michigan
Southern 81 u, Northwestern q 4 % Cleveland and
Ptssburg IS, ron Wayne ss,E %, Cumberland 30 u
Quicksilver S5sG a, =.
There less apprehension OF monetary srngency tnn
apparent yesterday; but the pressure to sell
to-day showed disposition to unload on the part
Of some. The Treasury Department will DO care
ful to disturb the money market and 10 this end
Wl so Distribute and time its drafts rs TO Keep
Its subogenis tho paiicDa banks aud others IN as easy
position as possible. Money may, however, Do more
active and higher rates than 1t has iatterly
done but this will rather beneficial than otherwise
The money market a number Of weeks past has been
more or less sluggish while speculation has been rather
quiet II indeed generally happens that active specula
ton attended by moderately active sevon per cent
money market while pancs have occurred when money
has been extremely cheap and abundant
A recent shipment of seven millions OF currency
government account New Orleans has exerted some
influence in sneniBg the rates, but cs loans have been
offered to-day without takers although six has been paid
IN quarters The discount Nne continues dun ard
nrst class commercial paper rates from six 10 nine per
cent
Foreign exchange, although Inactive usual on the
last day OF the week, Is arn ard bankers ask
ITO a 1I0% for their sixty days Bills. The
shipment Of specie aggregated S2s 3o5, Of which the
City Of London took sG0s 600 and the Bavaria yll53s5.
This less than had been expected, but Wednesdays
and following Is believed will take ou larger
amounts than have been usual Of late. The markets
unusually bare of foreign goods and the orders that
being forward win involve heavy ilnpor-
tations
Gold has been dull, and the fluctuations have been
from 1909 129X The opening prize 1924, and
the closing one, at two p H. 100
The market for petroleum shares shows increasing
tvity, although the company and oil land specuo-
ton is being severely let alone by the public The sales
Of stock the Public Petroleum Board this morning
amounted TO twenty-five thousand four hundred and
eighty shares
The Secretary of tho Treasury has issuod a series of
amended regulations providing for the appointment OF
Treasury agents TO purchase cotton government
count; but that the practically over, it
tha IN keot.
up this Treasury agency system which opens
the door TO corruption and throws obstacles in tho
way OF legitimate commerce. There is at the time
hardly sufficient Why the government should
the cotton market buyer and seller when pri
vste enterprise s will 10 undertake the task In the
multitude of Treasury regulations respecting trade with
the South there is confusion and little circumlocron
The Treasury Department has to suppose that
Of the State banks which have reorganzed under
the national currency act have larger amount OF notes
in circulation than their capital entities them To, by
portion of their old issues being sii out in
addition to the The following circular has there
issued with view the investigation and
at. se" TREASURY DEPARTMENT !
OyrCg COMPTROLLER TIE CURRENCY,
WASHINGTON May q, 1865 J
AR-You are requested 10 make statement, o. indi-
Gated In the enclosed form, exhibiting
Ffrt-The amount Of your circulation as State hank
outstanding q the date o. she conversion OF your bank
70 the national system
.Sscond-The amount OF such circulating notes out
standing May 10 1865 You also requested 10 spcci
~, separate item, in your regular monthly report,
the amount Of state bank circulation outstanding at tho
date Of such statement This information Is necessary
In order determine the amount OF national currency
that may be issued your bank without exceeding the
ratio prescribed By the amendment 81 Of the
Currency act passed March 1865 In future 1t VIII be
requisite In order 70 avoid confusion misarderstand
ing, TO send with each order for national currency
statement of the amount Of notes OF old bank out
standing at the date OF the order.
r. CLARKE. Comptroller Of Currency.
II would have been better, however, IL statement Of
the old circulation had been required Of each bank
before supplying with tho currency, when
the amount of the formor outstanding should
have been deducted from the amount to which il
was entitled Under national law until such time
the circulation OF the old withdrawn the ag
gregate circulr Of both issues being instance
suffered TO exceed the maximum Of ninety per cent Of
the capital authorized by tho act OF Congress Ar Is
many Of the banks, after obtaining ninety
per cent OF circulating notes upon their subscribed
capital, REPRESENTED by bonds deposited with
the Treasury, Afterwards Increased their circu-
latlon ten Per cent by buying bonds 70 place
on deposit with their customers money; 60 giving them
circulation -q:a W their aggregate capital This Gus
tom was, however, put stop To BY Treasury order
issued while Mr. Fcssenden Secretary but is not
known that the hanks which had previously resortcd 10
this method expanding themselves have reduced their
circulation ny the per cent thus obtained, and Yeti
IL matter OF surlcieui Importance 10 call for inquiry
and correction
The iapor al ons OF dry goods thu, port during the
week endns Lay 10 compare ~ follows with those OF
the previous week
Nays My TO-
nsnn,sc;"rs. " WI, dsg ~ Az saasI7i