Baltimore daily commercial. [volume] (Baltimore, Md.) 1865-1867, 1866-05-25
May q. 1866.
PTper pn.yp


or three days past, the transactions have been chiefly
in Gold and Government securities. Five-Twenties
weak at the first Board the issue of 1862 SELL
ing at l00@s@lO034 but at the second Board they i'm
proved Is, selling at 1908, with considerable activity
The issues Of 1864 and 1865 sold at 1913 and lO1
respectively. Seven-Thirties were q to per cent
lower, selling from 1919 down TO 1917, and closing
at l0l bid l0 asked, and TenF ortes show decline
of to IA cent. being offered at the close at 49,
with only q bid. Skies of 1881 sold at 107. which
is a decline since yesterday Of T. per cent
Gold was active, and fully per cent. higher than
yesterday. It opened at the first Board at 1887
but dropped from this price down to 1874. Al the
second Board. however it advanced again to l3SII
all the sales being made at this figure and closed
firm at 1881 bid, 1885 asked.
There was some movement in Missouri 6's. $4,000
of them being sold at 741& but in other State bonds
there nothing done. Baltimore city IS were
steady, but sales were made. Railroad shares
and bonds were each quiet nothing being done in the
former and the only transaction in the latter being
sale of $1,000 Baltimore and Ohio 1875 at 93. Bal
timorc and Ohio shares weaker than on yester-
day. closing at $l0719 bid, $lOS]4 asked.
Bank stocks continue to be pressed or the market.
Sales made to day OF 1853 shares Mechanics for
the opening at ST; 40 shares Bank of Commerce at
ST. 10 shares National Exchange at $780, and 5shares
Third National at $l0012. Fer Union SG6I4 was bid,
and 9GS1a asked.
In the Miscellaneous list the only transaction was
sale of 70 shares National Express Co. at So Bal
timore and Cuba Smelling apd Mining Co. was some
what better to-day, $50 being bid for it, which is $40
more than was bid for it yesterday.
The New York stock market has revived from the
depression of yesterday, better feeling has existed
on the street to-day. and most of the speculative So
curtles have materially advanced.
New York Central opened at 92G5 and reached
e3>s at 2. NJ; it receded to 1884, however at the
following Board, but closed firm at 93I5 Erie was
again vigorously attacked by the bears" and de-
clined to 65 at 10 o'clock, but afterwards became in
better demand and sold at 675 during the afternoon
Boards. 1t became weaker the street towards
o'clock, and closes at 65ss. There appears to be no
movement yet TO curtal the short interest on this
stock. Ga the contrary it is daily increasing and,
unless the next European advices exert an adverse
influence on its price this side of the Atlantic
the bears will render themselves liable to another
squeeze to procure the stock for delivery.
The Heading combination" have carried their
stock to-day above its price prior to the late decline
1T opened this IN. at 1G7& and advanced to 10 Mt
the last call, closing at lCl4. Michigan Southern
advanced to 794 this afternoon, but fell off at the
close 10 1873. Pittsburg improved to day in SYM
pathy with the general market. Opening at S43S it
advanced to SOS at halt past two o'clock but became
weaker later in the day, closing at S555 Rock Island
was steady in the morning at 902s@901 butadvanced
to 9l2z during the afternoon. after which it was less
sought after, and closed nomnally at q a. with very
little doing.
Fort Wayne has been active day. 1t sold before
Boards at o. and declined TO 932 at eleven o'clock
but with good demand for covering short sales
later in the day it advanced to 9'l4 at P NJ. The
Northwestern stocks followed tho course of the gem
era market with particular feature to note either
in the common" or preferred Canton was better
supported, and advanced to 575s in the afternoon,
pft ling nri EcT
land opened weak at a. but later in the day it was
more active and sold at 49,
There has been better feeling to-day on Change,
and confidence is gradually being restored; still
there is much anxiety exhibited among operators as
to the next news from Europe, pending which fresh
contracts are entered into somewhat guardedly.
Government securities were a shade lower in the
morning, but revived later in the day Five-Twen-
ties OF 1862 sold early at 1905, but in the afternoon
were quoted at 1909. Those Of 1864 sold at lO1 dur
ing the first Board. and subsequently improved 4
per cent.
The Gold market has been much excited to-day,
and considerable fuctuation has taken place in its
price 1t opened at 1895 and steadily declined to
1874 at midday, after which it became in great de-
mand. aud advanced to 1897 at the close
The money market has been shade Jess stringent
to-day. and borrowers have been readily accommo-
dated at per cent on call.
We extract the following from the New York
Herald:
As regards gold it evident that the Treasury has
utterly and we regret to say diSaStrousy fae in its
late attempts to control the market, with which it
should never have intertered. 1t has lost between
twenty and thirty millions of coin at a low price
without doing any good. but considerable amount
o. harm, both TO itself and the country at large and
we 3dylSe 1t IN future to leave the markets to be con-
Tolled by the laws of supply and demand Tho
treasury mas exhausted itself in impotent effort
and is now poweress Such bundors are sometimes
worse IN their effects than crimes and we are amazed
al the sh0rslghedness of the policy pursued by the
Department. ~
The Secretary of the Treasury obviously failed to
perceive that while three hundred and fifty millions
Vi our securities were held abroad and while he had
iniee commercial Indebtedness to Europe the fifty
mlllions OF coin he held was quite inadequate to
meet heavy foreign drain and at the same time
ietent the premium from rising. He failed TO sec
mat the more he sold and the lower he kent tbe
u IN, tne more no widened the difference he
our dSad Vi our securities here and abroad to
"n ulsa5uE,ahtage and the more, therefore he ON
courasea tne export Of gold. Government interfar-
enGe In thls case has been lamentablc failure in
F0NlhS n warning not to repeat it. - III
The New ori exports, exclusive of specio f +1
week ending May - compare as follows: 1'- '-O
no ISbl. 1865. 1896
Prev Teportod 5855oi5 S5 T5sG $illl7t 40
Since Jan. s62 81, $40 S67 42 483 So 259 COZ
The imports for the same time compare as follows:
Dry 674aH $136639 $l,S922l8
Gen. Mdse.. 29356l8 l559,749 4.238,l64
TOtalfOr the $t60,062 s23l63SS $3.50 49,
Prev ,S7S797 52.4727 rs 6228 1878
Since Jan. s93 49, 766 $54.78O, ISL s18l 753 255
Neill's Cotton Circular of the 22d inst, says:
The total receipts at all ports from the end of the
war to the latest mail dates amount to 900 bales
Of tb which nsi during andI' Is Since inc, D.
Receipts 600 1913 600
Exports to Great Britain ....... 24,O00 l,08l 900
EE1pOrts 70 ncse....:.......... 1000 $4,000