The New York herald., 1866-04-13

Michigan Scuthern ........ TAX S0x
Illinois Central. ..........'l aSx ASnn Snn
Northweser preferred oI ,11oo1 va
Rock Island. ................'i0 'i0SA ao,< 1o,<
Fort Wayne. .............. .1O3S wa 1oA
Looking at the market from this point Of view, and
taking into consideration tho prevailing monetary ease
and the passage by both houses Of Congress Of finance
bill which gives yhe Secretary Of the Treasury power
worth mentioning over .ne currency, 1t is clear that
prices must undergo further appreciation. Conse-
quently there wiz be for some time to come, in all
likelihood, moo pasturage for tho bulls than choice
pickings for the bears, at least in Wall street.
At tho early session Of the open board New York Gen.
tra sold at 92x, Erie TAX, Reading 101T Cleveland and
Pittsburg 7eA, Rock Island 119h, Northwestern pre-
ssrred Is 81 55H, Canton 81 Spruce Hill Coal ID. 81
At the first regular board the market steady but
rather dull. Hudson River was the strongest Of the
railway shares, closing TX higher than at the
half past two board yesterday Northwestern ad.
vanced u, Ohio and Mississippi certificates u,
Missouri skies y. Michigan Southern was Il
lower, Northwestern preferred x, Rock Island n,
Mariposa preferred &, Western Union Telegraph u,
Cumberland u, Quicksilver "a Canton 1H. Govern
ment securities dull and q shade lower. Coupon
Gvetwenties Of 1862 declined " sevenhiry notes Of
the first series NJ the second and third series were hr
At the O'Clock session Of the open board the mar
ket strong. Ene sold up 10 75 (saes 800 snares
Spruce Hill Coal active at 6k At the hapast two
board there further Improvement combined with
increased activity. Hudson River and Cleveland and
Pittsburg the most buoyant of the railways and
Canton Quicksilver and Mariposa preferred on the mis-
cellaneous list rumor Of new veins being struck at
the Mines and clique movement Tor rise in
the stock was In circulation respecting the latter
company. Hudson River closed per cent higher than
at the first regular board, New York Central q,
Erie ", Reading X, Michigan Southern y. North
western " preferred ~ Cleveland and Toledo y, Fort
Wayne " Rock Island l. Quicksilver 1x, Canton OK,
Mariposa preferred Y. Illinois Central, Cumberland
and Ohio and Mississippi certificates were steady Gov
ernment gcIdbearng stocks neglected, excepting
skies Of 1881 which declined 4. Seven.thirty notes Of
tho first and second series advanced u.
At the half. past three open board the market was
strong for Hudson River and Ohio and Mississippi GER
ti6cates and steady for the remainder OF the list
Hudson River (sales o00 sold at 1loK y, Ohio and
Mississippi certificates (sales 10000 25h y, Now
York Central OK Erie (sales boo TAN, Reading 1o2z,
Michigan Southern o. 81 soK, Cleveland and Pittsburg
d. 81 81, Cleveland and Toledo 111x, Rock Island 1l9H,
Canton 6Sh, Spruce Hill Coal OK.
Afterwards the market remained strong with special
activity in Ohio and Mississippi certificates but only
light volume Of business In the general list. At half
past Eve New York Central was quoted at OK u,
Erie TAX =, Hudson River 11o q u, Reading l03X a
j, Michigan Southern s0x e, Cleveland and Pitts
burg soA Ak, Northwestern 2ek y, preferred S5s<
Rock Island 119K Az, Fort Wayne COX ~, Ohio and
Missss pp certificates 26ka 2 Canton 6sIl s. Cum
berland 45K y, Quicksilver 4ex 4, Mariposa pre-
fered 81 2lx Spruce Hill Coal exaX.
The Stock Exchange continues TO be well supplied with
money Eve per cent The banks and trust companies
however gen rally ask six miscellaneous securities
but government coaterals loans made in excep.
al inet Al hn or la
proposed reduction Of the rate Of interest the tempo
ry deposits held by the Sub Treasury the lst prox
TO Eve per cent and Clearing House certificates
four will be 10 cheaper money In the open market The
discount lue is easy aud nrst class commercial paper
passes at 6x per cent ard the second grade at Tho
banks employing their surplus funds in compound
interest notes. which have advanced Y per cent The
latter quoted to-day, according to date folows
june 1894, ITO 1lol4; July 1o9ts 1o9s1; August,
100 lo9S October los l0sx; December, lo7 lo74;
May 1865, 1OiIl loi,< August. lo3 l03I; septem-
ber 1929 io2z; OCTOBER lo2 1929
The gold market opened at 127H and declined to 1874
after which 1t recovered u, and then gradually sank to
127H l27I the closing quotation. There not much
speculative activity In the room, but the disposition to
operate for rise rather than fall is becoming general
that about twenty millions Of interest on
the lvetwenty loan will fall due the 1st Of May
Much Of this WILL however, have TO be RENTED to The
foreign bondhodcrs, and meanwhile II is very uncertain
TO what extent the Austrian Prussian dlculty may de-
press vctwentcs In the Frankfort and London markets
and induce their return to this country Coin was
loaned from per cent TO 1S2 per day in favor OF
the lender
Foreign exchange very strong during the morn
Ing and the leading drawers declined sell ng under O7.
and ono house refused to n rate but late In the
afternoon rates shade easier and at the close OF
quoted at 1879 y, three days 1os1S ~ commercial
1867 lo7 bills on Paris at sixty days ST. 25c ST. 3oc
short sight ST. zoe.
Petroleum and mining stocks were dull and rather
heavy In the morning, but In the afternoon they were
strong and more lactvc. AT the first board Bcnnchon
Run closed 36c lower than at the time yesterday
Excelsior zoe. higher, Pithole Farms 2oc Benton
&c., Smith 4 Prmelee 20c., Texas 9c. Al the second
board Piihole Greek closed &c. higher selling at 81 QO
Consolidated Gregory Gold 50 20, selling at $17 So
Smith Parmeee 81, selling at 80 26 Central sold at
g. Empire City 34c., Ham McClintock 81 rs, United
States e. 3o) 50, Benton 81 75 Downevo Gold 4oc,
Gunnell Gold 81 10, Liberty Gle, Quartz Hill O. 10
p We trust that Congress will lose time In passing
resolution Of inquiry which will render IL incumbent
upon the Secretary Of the Treasury to give public OK.
planation OF tho changes which made In the form
Of the public debt during the month Of March The
statement dated April shows that subsequent TO March
the Treasury bought sl5Soooo Of tcn.forty bonds,
$1,000 900 Of scventhrty notes and 600 600 Of com.
pound interest notes II also shows that during the
same time sold o., 500 Of nvetweny bonds and
elv22 $50 Of the skies Of 1881 The transaction was
private one. There was no obvious necessity for
these secret movements which are, OF course,
calculated to undermine confidence In tho public ad.
inlnsiraton OF the finances People naturally argue
that m the Secretary has acted thus In March he may
ehuinc tho cards anew in April and that the national
oeo VIII DO kept In state Of perpetual Transformation
'or reasons best known at Washington bu, not yet COM
pretended by the public
Tho business at the Sub Treasury today va. a. so.
Tis 40
r.. .,c,,.. 263
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