The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-15
FINANCIAL AND COMMERCIAL.

HNANStAC ANIL NOWMGnN'HI'
MONDAY, Nay ll-6P H.
Tho woek has opened upon active and buoyan'
market for railway shares, firm one for gold ana OK
treme monetary The Western stocks continue AZ
favor and Just Michigan Southern is leading the way
IN the upward movement under demand from sions
parties Fort Wayne, too, is very firmly hed, on w
speculative account and for investment anu 0ie'oanu
and Pltsburg, the most treacherous SIOUX VI 'ne
list, rs again engaging attention. a snsn' hurry
was felt at the commencement Oh business
this morning in consequence OF the European news out
,h,s soon snh,ded AS the intelligent portion OF the
street fully understand that our money market Is entirely
independent Of European influences which can only a
feet exchange gold the price Of such Of sccur
Ties as are held largely abroad. The effect OF in
Germany would be advantageous to this country rather
than otherwise, by stimulating the foreign demand
for our breadstuifs, and by consequence export
Grade, thus giving increased traffic to the railroads
stretching westward. The fact OF lve-twentes being
largely held in Europe, although IL involves danger,
might not prove practically inconvenent confidence
the securities OF government remote from the scene
Of hosttes would be likely to increase in about the
proportion it would diminish with regard TO
those of the bell igerent nations of nations liable to
become involved the struggle Hence have little
10 apprehend from tho present aspect OF affairs in the
Old World
~ early session OF the open board the market
disturbed by the tenor OF the European news. and
feeling of uncertainty prevailed as TO the fu
tnre which induced considerable Of short sales
New Yor. Central sold al 92S, Erie 20 Is 81 Reading
107, Michigan Southern H. 81 70, Cleveland and Pitts
burg s3A, Rock Island o. Northwestern 2SH-pre-
ferrcdl5s2. Fort Wayne 9SK, Canton 59, Mariposa pre-
feed D. Al the first regular board there recovery
confidence and the market became strong tho call
osed ar Tho
time Saturday, Michigan Southern Il, Clcve-
kpd and Pusourg x, Northwestern 'I-preferred e,
For: Wayne %, Milwaukee and St Paul preferred q,
Canton &. New York Central closed Z lower, Erie 5s,
Rock Island y, Ohio and Mississippi certificates u,
Qu ksiver X, Western Union Telegraph Ia. Govern
msnt securities well sustained, and fvetwentics
remained steady; coupon skies Of 1881 and tenrorties
declined thirty notes Of the first series ad-
vanced 4.
At the one O'Clock open board the market continued
strong and prices advanced Michigan Southern being
the buoyant OF the railway shares selling ut SOi
q 81 At the half past two board the speculative feeling
In the ascendant and quotations experienced fur
ther Improvement Michigan Southern closed ~
higher than 1T the first regular board Illinois Central
IL, New York Central q, Erie q, Reading u, Michigan
Central a. Cleveland and Pittsburg y, Northwestern Il
preferred r. Fort Wayne IS, Milwaukee and St. Paul
preferred "a, Canton Ia, Western Union Telegraph T.
Rock Island x lower Government securities were
dull Coupon hvctwentles Of the first and third issues
declined a.
Al the annual election Of officers OF the Stock FIX
change which took place this morning, the follow
Ing gentlemen chosen for the ensuing year.
President William Alexander Smith; First Vice Presi-
dent NJ A. wheelock; Second Vice President, A. Fl.
Dycti; Treasurer, Dewitt G. Hays; Secretary G. H
Brodhoad Assistant Secretary j. W. Munro Rollkceper
II A. shpman. Messrs A. Campbell, W. H. Nelson, J.
W. Undcrhil W. Seymour, Jr, and Charles r. Marvin
appointed a committee secutities; Messrs J.
Dufcy, C. s. Legion. w. b. Mott, A. ID. Williams and A.
H Dyett committee additions TO the stock list, ant
Ncssrs. q. s. Sloane, W. h. Clarke, A. M. Ferris, E. l.
Ciarkson, J. X. Warren. J. A. Riston and r Maney
committee nominations
At the hafpast three open board the market firm
Cleveland and Pittsburg advanced to s4 New York
Central sold 923s, Erie 735s, Reading 1913 H. 81
Caiawissa 60id Michigan Southern 801< f. 81, Illinois
Central IL Cleveland and ptburg $40, Rock Islant
o3,l, Northwestern preferred 5sI. 's Fort Wayne
Son, Cumberland 45ss, Quicksilver 54ss Marposa pre-
ferred 2a1S.
Afterwards the market closed strong, the following
being the quotations at hall-past fve:Erie 73I "a,
Now York Central o2ss =, Reading 1919 z, hich
gan Central l0e,. bid Michigan Southern 500, Iino,
Centrn l2aA 81 Cleveland and pittsburg s4l, Glove
land aud Toledo loi.t Il, Northwestern 2s5s %pre
sered s9ss ~ Fort Wayne ss1s ~ OHIO and Nj ssis-
Gpii certificates a5s "a, Canton cotI a. Cumberland
4sz 4, Quicksli. 1i}s r. Marposa preferred 2,
AK.
Money is extremely abundant and loans were gene
rally made first class houses to-day ut four per cent
the common rate being s. First class commercial
paper is in request nj Ga per cent Tho
sratement OF the associated banks for the week
indicates the still increasing monetary Tn
dcposs show further augmentation or s7,179,55o and
tho legal tenders Of s3 S362i2 The loans the other
hand have increased only SS64T,1s3, and that owing
mainly to purchases Of government securities by the
hanks Of employing Idic capital. The specie
has increased s3055 f05 In consequence OF the subTea
snry disbursements Of the May coupons The
circulaon alone shows decrease OF S722, AIS The
totals oil the two last statements UNDER
Var MGyl2
Loans $25a ga, I34 $685. o2i ,3i7
Specis. IOgi4,997 ,07040z
Circulation. ............ 25,4iJ,657 246a3. 25e
Dcposils ......... 2i037.,3O3 2lEb52, 1858