New-York tribune., 1866-05-04
OPEN roARp OF gRoKERs-3P. NJ.
THURSDAY, May 3-P. N.
Gold has sold AZ 1921. and closes at IL

Gold has sold at 1921. and closes at l&t.
Godbearng Government stocks stronger under the
movement al Washington 10 make new hye per cent
bond into which the whole National debt may be funded
Tins only be commenced by producing and maintaining
money market easy that for lack Of employment cap
ial will 60 into Government stocks. The fault in the
proposed plan lies mainly the short time the bonds are to
run and the loan will have abeer chance Of success t is
made for fifty years. and 10 amount large enough to
cover the present currency debt Of the Government
at six per cent aud under. This now amounts TO
$50 SEQ S94 and could before maturity be converted into
yea FIVE per cents leaving the $s6, ESQ f73Os TO
pass into 20s and thence after the five year option has
EXPIRED into five per cent bond if at that time loan
can be negotiated at that rate TO absorb them. The
tsne of the Treasury throughout the past five years has
been short loans which numerous and Of such
diverse that but expert financial people
remember their their pcculiarites. What is
wanted long loan, which by it's merit as permanent
Investment will absorb the short currency debt which now
stands ID the way of specie payments Ii is to be hoped
shat the short loan mania will not induce Congress 70 do
feet five per cent consolidation scheme by deprying the
bonds Of the only feature which will mmend them in
comparison with the lOi0s which have dragged from the
tine of their Railroad bonds are in more request
y Investing parties Bank shares frm and full prices
paid. The small stocks fairly active. Boston Water
fOWef
steadily passing into strong hands The Railway share
list early in the day dull and lower. After the
call, the market was frner and at the Second
Board showed more strength than for some
day. nth quite disposition TO buy on speculation. Can.
con rose to 59i 59; Erie, 707i Marposa Preferred,
with an advance the whole list. Reading sold at
lf alol At the close Of business the market strong
ct the following Quotations: Ohio Certificates, 26a26a
Canton 59 0594 Cumberland Coal AL as Quicksilver,
s41i Manposa, l20l2I; do. preferred, 23i i02; N Y.
Central, 92 o92; Erie, 74i974a; Hudson River, llOl
100; Reading, lO7I siO7i Michigan Southern 7s 07s
Illinois Central Scrip 1904 l2ll Cleveland d. Pttsburg,
82iss2i; Cleveland and Toledo, lO4l olI Rock Island
I2sa l24l hWestern %, 92s3; DO preferred, 592
So; Fort Wayne, leO0l0ci.
The proposal Of Senator Sherman TO repudiae part Of
the contract Of the Government with the holders Of 80
notes by forcing them to state sG months IN adrance Of
,he maturity Of each series whether they intend to avail
81 the option Of taking $40 six per cent bonds does not
etnke the public creditors favoaby. The right to take
30 bonds money at maturity one OF the chief ee
OF strength in the 1885, and the attempt to shorten
ts option six months fairly under the head Of
udiaon Of the psy kind praeiced by refusing to
holders Of legal tenders TO fund them into six per
bonds after July 1863 For the credit Of the Govern
iaoRf this notice Of six months should he shortened to
.Sty days, which would give all the time needed for
preparation to pay in money or by substitution of
'onds for the 7.3os. If Congress viii authorize the
aodeB OF 7.3os TO exchange them for sos they
Ill speedily pass in that direction. This would be
oreditable proceeding Of shortening the option.
Money easy At 4a5 per cent and is steadily tending
ward lower rates. The payment Of the May coupon
unemployment to money, aud the return of 52Os from
arope has not been without effect in sustaining the rate
interest After few days these disturbing viii
no to operate and call loans be abundant than
In commercial paper rates favor the seller. Prime
Il sell at 81 al, and good at n s9 per cent
rho business Of the subTressury was Receipts, e.
,06. .oi-for Customs, tH600O; Payments q, is9,-
~; Balance, t93 e54 o4; Coin Notes, &7l9000.
- s'e forgerss committed by Ross stated to roach
1000 Tho Jobbop yas planned With groat adioltnoss