The New York herald., 1866-02-24
FINANCIAL AND COMMERCIAL.
FRIDAY, Feb. 23-6 P. n

FRIDAY, Feb 23-6PM NJ
The stock market opened strong this morning, and at
the early session of the open board Eric sold at 81 ~
Michigan Southern 10, Cleveland and Pittsburg 79k
Northwestern preferred 551s, Fort Wayne 94I Schuyl
kill Coal l7A As the day advanced, however, the i'm
provement was not sustained owing uneasy feeling
with regard to the effect of the sales of gold by the
sub Treasury, which 1t was known being made
The amount sold this forenoon on government
account estimated in the Gold Room at
than three millions; but this was in
by about million of the sum actually thrown
upon the market The Treasury certificates representing
this will have be paid for legal tender notes or
national bank notes. and to this will reduce tho
supply Of currency in the increase
ance in the SubTreasury This last is already uselessy
large, the total this evening being S105 $50 The
policy Of the government selling its gold secretly
is always to be condemned the moro especially as
an act Of Congress provides for the diversion OF
any such surplus TO the creation of sinking fund But
at the present uncture the motive for the government
being seller is variousy interpreted 1t is understood,
however, that political combination was known to have
formed pool" for the purpose OF 'bullng' gold for
effect that the government decided to Ihwart its
by supplying the market freely at the
rate the object not being to force decline but to pre-
vent rise Under this manipulation cash gold has be-
drug, and from four 10 eight per cent had to be
be paid o-day for having coin carried
An uneasy feeling prevails connection with the split
between the President and the radicals which has been
somewhat aggravated by the speech of the former at
Washington yesterday and this for the time being, oge
ther with the advance in the rate for call loans TO
per cent has tendency produce partial suspension
operations for rise. But the effect of the
Treasury gold sales will be only transient; and the
dividend period for Of the railways approaches the
speculative feeling on the stock Exchange will probably
4
the bears appear unwilling to the risk OF materially
extending their lines.
At the first regular board there was moderately brisk
demand stocks absence of pressure TO SELL
the market being on the whole firm Erie closed Il
higher than at the past two O'Clock board on Wed
nesday Michigan Southern a. Cleveland and Pittsburg
a. Northwestern preferred ~ Illinois Central a. Quick
silver y. New York Central a lower. Govern
securities dun bat steady Seven thirty notes
Of the first series y higher
After the call the market became heavy and
at the O'Clock session prices about
< per cent lower. At the halr-past board
1t was steady New York Central closed q
lower than the first regular board, Erie a. Reading
4, Northwestern preferred q, Cumberland Il. Gov
orHncnts remained steady but inactive; on the street
they fat At the half past three open board there
material change quotations. and the volume of
business light Eric sold at s0A M New York
Central G 3 9l Cleveland and Pittsburg 7S2 Michigan
Southern 60it.
Afterwards the market heavy, and at half past
five o'clock Michigan Southern quoted at 6s7s 50,
Cleveland and Piitsburg IS Rock Island 1903 a, Fort
Wayne 93, Northwestern 275 n. preferred 54'S az,
Eric 1878 so, New York Central 90+i Is, Hudson
River l02 Reading 99ss K, Cumberland 44I..
The gold market opened al 1873, and under general
disposition TO buy to 1874 but when the govern
ment broker appeared seier the upward tendency
was checked ana tbe price at thr O'Clock had yielded
To 49, the carrying rate being then eight per cent I,
subsequently, expcrienc further decline and closed
1857.
Foreign exchange fat, and leading drawers were
willing to sell at 1851 net, Three days bills rated
at l091s, commercial l0T u 1914.
The discount limo Is dull, but rates nominally
changed At CHICAGO and Cincinnati increased monetary
reported. The demand lor money
Exchange moderately fun this afternoon, and the
for call loans firm seven per cent without
exception
Petroleum and mining stocks dull A. the frs,
hoard Ham McCn,ock closed soc. lower than at the
time "Wednesday, selling at 81 30. Oil Greek
Soc higher, selling s5 80; Shade River 2Oc., sell
ing 81 co. Palmer Petroleum sold at s4 25, Benpe
hof Run sl5 90 Blivcn So 20, Empire and Pthole 50c
Excelsior 81 TO- Brooyn 81, Pthoe Greek 80, Central
81 II, Union 50 60 United States SIG 20, Rynd Farm
6Oc Webster a2c Buchanan Farm &c. Hard Pan 81 90
Hope Gold 80, Smith and Parnlee si3 SO, Bates aud
Baxter 81 80, Homowack s. At the second board Ham
NcClintuck closed 600 lower than at the first board,
selling at s4 Plthole Creek 2Jc, selling at s. IS;
United States a5c. selling SIC Oil Creek was o0r
higher selling at IS so: Rates and Baxter 40c selling
at So 90 BennehoG Run sold at SIS Is, Bliyen 81 20
Empire and Pitholc 45c., Excelsior 81 90 Central 81;
Palmer Petroleum - 20 Uuion 50 80, Clinton 81 IS,
Gunnell Gold IS, waikiki 81 20
The business the Sub Treasury today FOL.
lows
Total rrcrips.. S99t1 o53
FaEti'His.... bAoPoo
Baihnce 100, ,s 800
for f'slons..... 9bOUDO
On account OF government iuan. ............. ~ 900
tOn ''rtu'ates... -'sjNO
The mportatons OF drY goods this port during the
week ending February - compare follows with those
VI the previous week -
-Fat l5---> ~---tei. e.
Consumption. Iiqs TdiUe Tkgs Vdinc
Manufactures Of woo,. 2,6,o 53i oso 81 o23 35
Manusctures Of cotton. l,6i7 5gj s02 15Js 52G tgG
Manufacture or silk... 20 s'7G77 .5i .s$u
Manufactures OF fax. Il 9i3 6.i539 725 26j. $50
Miscellaneous. ......... 704 2i54s3 1OO6 2:3, $50
olal.............11 200 Sih5g ps2 COG 81 .67 1al