The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-05-11
FINANCIAL AND CONNER DIAL.
THURSDAY, Nav io-e M.

FINANCIAL AND CONNER DIAL.
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l-ai ogaf rHrRsDAY, May lo-oPM
The stock market has been alternately strong and ac
tive and sluggish and somewhat heavy to-day but 1t
closed firm after a full recovery, with brisk demand
Dor the heading Western railway shares attention being
more particularly directed TO them present owing to
sheir largely increased earnings Cleveland and Pitts
burg and Michigan Southern advanced and Milwaukee
and ST. Paul and Rock Island declined from the highest
point Of yesterday. vs. v-si,e
AZ the 10 O'Clock session of the open Erie sold
7aX, New York Central s2S 10. 81 Reading 107A,
Michigan Southern To- 81 1875, Cleveland and Pttsburg
sa9<, Rock Island s6k North Western 2sH, preferred
cox a. 81, Fort Wayne ssx, Canton Ssk, Marposa pre-
fsrred IAN the first regular board the market
active and generally firm. Erie olossd y higher than
d ahe halfpas two board yesterday Reading V, Mch
gan Southern n, Cleveland ana Pittsbury x, North
Western y, illinois Central q, Ohio and Mississippi GER
siseates n Rock Island was y lower Milwaukee and
81 Paul preferred 2X. Western Union Telegraph n
Government securities stronger but quiet Coupon
xes Of 1881 advanced y, coupon hvetwentes Of 1862
u, seven-thirty notes Of the second series u.
Al the one O'Clock session the market was fraction
owsr but steady At the decline. At the halpast two
board Il was nrm In tone, but prices without i'm
pavement Erie closed u lower that at the first regu.
~ board, Michigan Southern u, Cleveland and Pitts
burg y, Northwestern preferred X, Rock Island IN.
Milwaukee and st. Paul preferred y, Mariposa preferred
Is. Government securities were steady excepting cou.
Dsn skies OF 1881, which were u lower, and seven
thirty notes Of the first series, which advanced Il.
~ the half three open board 1t strong Ceve.
lanA and Ptsburg advanced to ss, Erie 7ax, Hudson
River 1o9K, Reading ID. 81 10714, Michigan Southern
ss Illinois Central 12l Northwestern 2e,l preferred
q 81 COX, Cleveland and Toledo 1o4ss Rock Island OAK,
Tess Wayne oox Milwaukee and St Paul preferred n,
Canton ssh, Cumberland lsx, Quicknlver d. 81 55X.
Afterwards the market remained firm, with moderate
sDsvy in the Western shares to which the transactions
were mainly confined At halfpast I'VE New York Gen.
m, was quoted at s2x a " Erie ?3x !. =, Hudson
River losK a11o Reading lo7x " Michigan Southern
NJ - Cleveland and Pittsburg ssH u, Rock Island
osx s6 Northwestern 2oH q u, preferred COZ n,
Fort Wayne COX u, Canton 6sx Y, Cumberland
* y, Quicksilver 66x 4.
mo controversy between the classes OF share
holders Of the Milwaukee and Prairie du Chen Railway
Company reported to be at end the council Of the
ses who raised the question having concured In the
suinion that the common shareholders have as full
night 10 vote any other class Of shareholders and the
eTectors, It Is understood, have notified the
oeckhoders that no further oppositon will be made to
sAstr voting u an meetings Of the shareholders
ne supply Of money remains superabundant At 8
cent for Stock Exchange loans and the drain of
ssacy from the interior 10 stn felt First class CONNER
si paper b discounted freely at ~ OK per cent and
10 second best, known - good, at7a8 The demand
81 both loans and discounts is light owing to the con-
sentative tone Of business and speculation but the signs
q Hcrsaeng animation are multiplying.
fhe god market opened q decline from the
ssssasson Of last evsning-namey, 12sK-9qt steadily
s4xsses1 70 t2eHa1 The latest r.psactiOns were At
BsR. toAni wSta kSnsrsIly made nat The advancing
ssnAsney Of the premium 10 supported BY the prospect
- sonsdsrahls weekly shipments Of treasure for
- " como, which win only be partially replaced by
- rsosipts from California The cotton exports
So expected 70 dinish while the imports for the fall
assAs will turn the seals on the Same SIDE
ysrsgn sxchangs was dull and quotations nomi.
~ BankQs' bills 1ngand at sixty days were rated
- leoX y, three days HOY, commercial 100.
E,&ro>un 80 mining stocks were generally rather
an A the Arst board Bsnnshor Run closed ooc higher
-. Il The same time yesterday, Central 2oc, Tyge's
Aesk 10 nthole orssk was &C. lower, United States
- Dsssio on sold u &c.. Ptholspms 81 o.. Liberty
-, Ada Blmore % q, Consolidated Gregory Gold
ols - 9unnsn Gold q u, Holman Gold &C., wankin
49, Bullion Consolidated Gold o. Al the second board
~ market was quiet and prices were without material
alteration
We psresivs that Mr. Freeman Clarke or some one
- him, sndeavoring 70 throw his share Of respons
hny for the failure Of he srchants National Bank on
~ shoulders BY saying that tho circulation which 10
~ sny part Or 10 business over which tho Comptroller
Wsasss any power h the only fully secured thing in
~ whale eonesrn.n This statement made through
ssassmrssuy, h contrary 70 the fact II 10 70 tho
oapsrss Il he Currency That all tho national banks
shs shsis qutRy rsports and II h his duty 70 check
Men I'D ts6t tbsr accuracy. The national currency
"a section - makes special provision for the
apDointmape u inspectors BY him thus
,sTAs Comptroller Of the Currency, with the
epprshAon Of the Secretary Of the Treasury often
- shaA b deemed necessary proper, shall appoint
eaaSls pssOA Or persons 70 make examination Of the
Ss Of every banking association, which person shall
~ - Director other ocer in any association whose
aAis he shal bs appointed 10 examine, and who shall
Asve power 70 make . thorough examination into al
Che sA Of the Association and, in doing So to
- any II The ocs and agents thereof OATH, and
shah make fun and detailed report Of the condition Of
sAs asociasion - the Comptroller" Here Mr.. Carkss
1iss of duty 10 plainly marked out for him; but
(ptwithstandins that the Merchants Bank was well
Known 70 BE- in an unsound condition he failed 10 insti
9is a investigation III checks upon banks In this
y have bssn frequently protested owing 70 the latter
osing unwilling 70 cash them before they had funds
oucisns actually In hand It's credit In such cases
chs checks generally met the next morning after
yssssnsssaqp, The Warrington Bank having meanwhile
DsUvidsd fr them. The connection Of the bank with
tayns Co., speculative house In Baltimore was no
ssusA nr. Bsyna member Of the nrm being i,s Prcsi
Hsat
me feet Of the Comptroller Of the Currency not hav
~ sTsssd In is career suggests tho probability OF
q having made false reports 10 him. for its continued
existence for long time past was due 70 the real facs
OF ~ condition being kept from the public. true
statement Of It's Affairs would have been acknowledg.
sns Of insolvency, and The Comptroller would bsve
Dssa compelled 10 wind II up Who and how many
49, frauA
- ssssmnsnt ana publicS This Is one Of the
Suvevssns questions 70 which the COMMITTEES Of
isSuiyy into ne matter mus ssek 70 discover an
usssr. Meanwhile III tbe national banks and
tpseaiy those n ths osanty, should be subjected 10
Deedicai sxamnastes a. books and accounts, ~ pro
vesa ~ That ssion u NE which We have quoted
% FAR their articulation concerned the public need
entertain no feas a. present ~ II is guaranteed by .
pledge OF socks But II 10 wen for the public 10