The New York herald., 1866-03-30
FINANCIAL AND COMMERCIAL
THURSDAY, March 29-6 p. N.


reacted to 77 and afterwards to 7sh 1t Is supposed
on the street that person connected with the manage
usnt of the and occasionally large holder of its
stock has sold out with q view TO buying
back lower figures and that he Ia assisted by COM
bination Of bears, who aim 10 influence the general
market by pitting their strength against this single
stock but these efforts likely TO be successful
the strength with which other leading railway shares
were supported under this adverse goes to tn
aicate
At the early session of the open board Erie pressed
Tor SALE the transactions aggregatng 5000 shares and
declining TO 7sK. Michigan Southern was arm at sax,
Cleveland and Pittsburg TO- Reading sold at l0ox Y,
Northwestern preferred 55,s Fort Wayne 9Sk Y, New
York Central o. At the first regular board
the market was like the weather. rather heavy Erie
experienced further decline Of lX closing the call
* lower than the half-past two board yesterday
Hudson River was y lower Reading 4, New York Cen.
tra u, Michigan Southern 4, Cleveland aud Pi.tsburg l.
Northwestern preferred u, Cumberland u. Fort Wayne
was higher. Quicksilver, Canton and Western Union
Telegraph were steady. There was . larger busi-
moss than usual transacted In government securities
and especially seven-thirty notes The Hrst
and second series Of the latter were
altered and the third series higher Coupon nye
twenties OF the second issue advanced " The old
declined u, skies Of 1881 r. Among the State stocks
North Carolina skies were the most active and advanced
ono per cent.
At the one o'clock sessions the market was a
shade frmer, and at the half-past two board there
was a brisk demand for all the leading stocks
Erie sold up to 7sH and Michigan Southern to g.
Rock Island and Cleveland and Pttsburg were also
strong Michigan Southern closed 1X higher than at
the first regular board Cleveland and Pittsburg a.
Northwestern preferred u, Rock Island 1X, Erie l.
Reading and Northwestern steady Fort Wayne
was y lower, Western Union Telegraph y, Quicksilver
". Government securities neglected. thirty
notes Of the second series excepted which advanced a.
At the open board at hafpast three the improvement
in Erie was lost, the price, under sales Of
$500 shares, relapsing to II a 5) This
produced sympathetic but only slight decline in the
rest Of the railway list New York Central sold the
call at sl1s Reading 1ooH, Michigan Southern ssH,
Cleveland and Pttsburg 7sN, Rock Island 1854 North
western 2oA, preferred (s 81 t54, Fort Wayne o2I.
Afterwards the market closed steady, the following
beng the quotations current at half.pas FIVE Erie
77S u, Hudson River lo7K los, Reading 100 u,
Michigan Southern S3H u, Cleveland and Pittsburg
7sh u, Rock Island ll2X a u, Northwestern 2eK q
y, preferred 6iX u, Fort Wayne e27i AK.
The demand for money from the Stock Exchange con.
tnues moderate and Is promptly among the brokers
and private bankers at five per cent The large surplus
Of loanabe funds pressing upon the market inducing
purchases of seven-thirty notes dermr resort, and
100H against ook tho LIST instant The discount line
is scany supplied with FIRST class commercial paper
which is taken freely at 6x per cent the second best
quality being rated at but there is offering Of
inferior grades than there buyers for Names In the
dry goods trade closely scrutinzed Of Its
unsettled condition. and the heavy Losses which the de-
cline Of Is 80 per cent In manufactures since the
msncement Of the year has inflicted upon the importers
and jobbsrs The money market at Chicago At the be-
ginning Of the week ruled quiet and the demand for dis
counts was moderate but nevertheless closer scrutiny
Of names was observed Exchange on :he East in
light supply at ITO premium selling. and par buying
The decline in gold had completely checked speculation.
the general markets were without life and very few
orders were being received for shipment a the resump
tion Of navigation
The gold market weakened from l2sx aA the opening
70 121x after which recovered l2s and declined 70
127K, and finally as four p. n closed ct I27x q r.
Loans made In favor Of the lender of the coin
high 6s2 per cent carry In tho day, but Afterwards
the rate declined 10 ls1 and the close coin was
yesterday offered without interest," probably for effect by
the bcarA" The report that the May interest on the
hvctwenty loan will b anticipated Is contradcted on
ofncIa authority.
Foreign exchange continues depressed under large
supply Of and limited demand for BILLS Bankers bills
on England al sixty days quoted in the acr.
noon al looX lo7 three days 1o7X 103 commercial
los 10ek.
Mining and petroleum stocks were dull At the first
board Homowack closed 1ic lower than at the same
time yesterday, Bennehorun 20c Pthole Creek 81 90
Ured States 10c, Quartz Hill &C., Smith Parmlee l5c
Excelsior was Csc higher, Columbian &c., veuango and
Pithoe l5c Al the second board the market was Qgmer
Bennchor Run sold al sis buchanan Farm 4sc, Homo
wack 81 o. West Virginia Coal and Oil loc., P,hole
creek 81 90, Ivanhoo 50, Shade River So A. United
Cf.tr. a. fV~lA
6unnell Gold 81 20, Gunne Central IS, Holman Gold
&c. Kpp Buell. 81 %, New York Gold 55c, Smith Il
Parmee $40 TO-
The recent failure Of Culver Penn Co. In this city
led 10 q run upon several banks at Tusvie Oil City and
Franklin, OF which the nrm In question were the New
York correspondents, and today telegram from Phia
dslpha reports that banks in the oil regions have
failed The Second National Bank, not connected
with this house, continues business usual ,
This led to some excitement among tho petroleum
companies which kept accounts with these banks, and
their stockholders elt concspondingy uneasy. the
ket for petroleum stocks thoro being very much
settled.
No business will be transacted morrow on the Stock
Exchange at the gold and petroleum boards; but
Good Friday not q legal holiday the baaks win be
open usual The Produce Exchange will be open
The Treasurer Of North Carolina announces that he
prepared SELL for not less than par bonds Of that
State, running thrtyfour years, with coupons bearing
six por cent interest," payable semiannually, Of the
denominations Of $780, $500 and $1,000 principal and
interest untarabe for the purpose Of paying coupons
due and 10 become due In ls66 and also bonds TO
fall due the current year.
The Cincinnati Commercial Of Tuesday, says
Exchange worked little closer and bankers In some
cases allowed ncishbors 75c. per NJ premium. Some
q the bankers experienced enlarged discount demand
Tor monej but others met With loss that the general
but
supply OF currency grows little more pleny. Seven
thirty notes are higher and the demand them bey ond
the current supply They bought by dealers a p9c
par, and sold al 100 i0ox
The business al the Sub Treasury TO day was AZ fol-