The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-03
FINANCIAL AND CONNER GAL.

.bar,s advanced while the "bul' element appeared to
nave gathered strength from the preceding duness.
cleveland and Pittsburg apd Michigan Southern were
che nrmest the active list
Al the open board at O'Clock Erie (saes 300 sold
N 7sx ~ Illinois Central 1884, Reading log. New
York Central e2]s Michigan Southern 1884, Cleveland
and Toledo h 81 1e4}l Northwestern 49, preferred 5S,
For, Wayne esA Mariposa preferred 24b, Canton 571
A the FIRST regular board the market firm, but quiet
Northwestern preferred closed " higher than at the half
vast two board yesterday Michigan Southern " Reading
n Canton ~ Western Union Telegraph Ia, Marposa
.sreferred X Erie was q lower Government securi-
saes were dull and steady. ren-forties declined u.
Al the one O'Clock sessions the market continued firm.
Cscv Gland and Pburg advanced to SEA sales 3,3oo,
and Northwestern preferred TO o9s AT the halfpast
swo board railway shares were very strongly supported
Northwestern preferred closed Il higher than at the first
SECULAR board Rock Island a. Reading "a Chicago and
Alton az Milwaukee and ST. Paul /. Michigan Southern
was X lower Cumberland u, Mariposa preferred r..
Government securities hrmer. Coupon fve-twen-
lies of the 1862 advanced Is, third issue ~ ten
Sorties r.
At the half past three open board the market continued
nrn Reading sold at 1863, Michigan Southern 7S4,
Northwestern 2s1s, preferred Is 81 $685. Fort Wayne
ID 81 co. Erie g. 81 1855, Quicksilver 5414, Marposa pre-
yerred "a 23h Afterwards the volume Of business was
yght and the market closed dull at "a fractional decline
At Ave o'clock New York Central quoted at e2's,
Erie 1874 Hudson River l1o11 IS, Reading 1861
", Michigan Central 1851 100, Cleveland and Ptsburg
slA Northwestern 2ssl preferred 60 Quicksilver 53ss
. X Marposa preferred 23A q.
The interest yesterday the first mortgage bonds
old Crosse Railroad has been met The interest
all the bonds OF tins road in arrears and unless
the company including Messs j. Edgar and Tn mas
Scott which, assuming possession paid S4S 0O0 the
accumulated interest for six on the second mort
gage bonds pay the in question: litigation will
doubtless be renewed by the Milwaukee and St. Paul
Company which holds judgments against the line to the
Of ST. 800 00o Tor the purpose Of obtaining pos
session Of the same
Tho money market remains easy at five per cent with
exceptions at four on government securities In dis
sounts very limited business is reported and first class
commercial paper is rated at a per cent.
Gold has shown strong rising tendency in sympathy
with the of foreign exchange. and the expecta
lions of the multitude who sold it short" in anticpa
aion Of break when the payment of the five
ewenty May coupons commenced have been dis
appointed. And this Is not owing to scarcity
for devery-for loans have generally been
either without interest at per cent per
But to legitimate financial causes The opening price
1884 followed by a steady advance TO 1881, and
ysiapse at the close TO 127X.
Foreign exchange was Arm ut yesterdays quotations,
Ano some OF Inc bankers refused 10 bills
hand at sixty days under 1oe. The range of mar
&c., however, from lO97s but tho transactions
emitted A not nconsiderabie shipment of coin was
made by the Persia-namey, 1925 O00 Cotton bills are
Gut Of favor owing to the unsettled state Of the Liver
pool market and the failure OF Barned's joint stock
bank there involving return Of some bills dshonored
4 sensation created in Wall street this afternoon
~ the Of several forgeres o. the name
- Albert speyers, broker 10 bank checks committed
~ John Ross who has disappeared appears that
= one instance the latter person. who had office at
No. a Exchange place, but who Is unknown on the
Stock Exchange purchased fifty thousand dollars in gold
rom Black \ speldipg and paid for the same by a
check upon the Fourth National Bank, signed Albert
opeyers by his attorney, Rogers for $64 500 which pur
ported to have been duly certified by the said bank The
receivers, after delivering the gold, lodged tho check
70 their credit in the Union Bank yesterday,
Int was not until the exchanges made this
ing that the fraud discovered Another check also
Cor So purporting been drawn by the
person upon the bank, and apparently certified
was lodged the Continental Bank The forgeres
nethcr skfuy carefully executed but they showed
considerable generalization The certncation stamp OF
Shs Fourth National bank a nearly exact imta-
Non and had Of course to be made for the purpose,
- also had the cancclng stamp Of Albert
0peyers and the checks which his printed,
DnlesS were ODtaineu from own
Books The cancelng stamp contained the strange in
accuracy Of spelling the Speyers Sepyers-evi-
IDENTIFY accidental transportation in arranging the let
scrs Two other Wall street houses were prominently
mentioned receivers OF similar checks for large
amounts from the same person. The name of another
house-namely, Howe & Macy-s understood to have
Been forged to two checks the Leather Manufacturers
Bank The forgor kept account at OF the banks
mentioned, and drew checks upon it beyond his balance
there TO speak mildly. more deliberate swndle has
Aever been perpetraed and II will good pur-
pose If II leads TO greater In the transaction Of
Business in Wall street aud especially TO q rigid
scrutiny Of bank checks both by brokers and bank
Sellers AS the rogue all probability took his plumber
with him when he decamped, there a prospect OF Its
recovery the of his capture which is already
rumored to have taken place.
Petroleum and mining stocks were more active and
higher AT the FIRST board pthole Farms closed &c
higher Than at the same time yesterday, Columbian
Goal Sc Consolidated Gregory Gold 95c. lower At
che second board Bennehof Run closed 15c. higher,
selling s1l o5 Consolidated Gregory Gold o5c, sell.
Sns at $le Smith Parmelee 25c selling at $40; Ada
Elmore sold at 81 10, Holman csc, Texas o5c.
The project Of u ivc per cent long loan for funding
yurposes took definite shape to-day by Mr.. Sherman
% the Senate, Introducing bill for funding the national
1sbt into thirty year bonds bearing five per cent nte
ysst, The same to be registered coupon and of such
denominations the Secretary OF the Treasury may
AIfect The bil Mr.. Sherman remarked, had
Been prepared by NJ. Mcculloch, and already
lsrially considered By the Finance Committed We
t>sef7e thai mention is made Of clause hitherto
much SPOKEN Of in this connection exemp,ing the bonds
Ssom The operation q Tie Income TAX. y s needless y
ay that the success Of such loan will be entirely de-
Ssndent upon avery easy money market and hopeful
sad confident ,ono Of feeling among the financial
nuni,y 1t may DO regarded the precursor Of much
higher prices ths Stock Exchange, and guarantee
against monetary spssms.
The state Inv taxing auctouoers' and brokers'
saies which was signed by the Governor on tho 18th
ultimo to take eject the Cd Of May is r.garded rs
very oppressive measure by the mercantile community
II taxes all brokers slcs OF foreign and domestic vnes