The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-12-22
FINANCE AND COMMERCE.
OFFICE OF THE EVENING TELEGRAPH,
SATURDAY,. December % 1866.


The Stock Market was very dull this morning,
anu prices were unsettled and lower, owing TO
the iurther decline IN gold.
halIoad shares continue the most active on
tne ist' headlng sold at from 5l20D5l4 closing
at the latter rate. no change; Catawissa pre-
terIed at 295 an advance OF 1 on the closing
price last evening"; and Philadelphia and Erie
at 81. decline of J. 129 was bid tor Camden
and Amboy; sos for Pennsylvania; 6l for Nor.
ristown; 5SB for Minehill; 36 for North Penn
sylyania; 80 for Elmira common; and 404 for
preferred do.
City Passenger Railroad shares were dull.
Spruce and Pine sold at 33l, decline of J;
80 was bid for Second and Third; 10 for Seven
teenth and Nineteenth; rs for West Philadel-
College.
In Government bonds there was very little
doing. and prices we're dropping. July, 1865,
5-20s sold at los, decline of g. and l0.4Os at
992, slight decline; 104S was bid for June and
August 7'30s and ll05 for 6s of 1881.
Bank shares were firmly held, at full prices,
but we hear of no sales. l5O was bid for Pha.
delphiaj 1864 tor Farmers and Mechanics; 552
for Commercial; 100 for Northern Liberties 3l4
for Mechanics; 100 for South wark; 100 for Ken
sington; 81 Tor Grard; 1O2 for Tradesmen's; Al
Tor Consolidation; and 62 Tor Union.
Canal shares were dull. Lehigh Navigation
sold at 654, decline of /: 81 was bid for Morris
Canal; l33 for Schuylkill Canal; and 56 tor Della
ware Division.
Quotations of Gold-1O5 AM, 1891; IL A.. NJ,
1921: II NJ, 1929; P. NJ, 1884, a decline of
on the closing price last evening.
The New York Tribune this morning says:-
Money on call is in sharp demand at per
cent. upon Governments, as we'll as the ordinary
collaterals of brokers. The drain of legal
tenders is large and steady, and the bank state
ment will on Monday be much better than the
actual condition of the banks. The break in
gold has unsettled prices on the Produce En-
change, and no large amount of produce could
be sold at quotations. In imported goods lower
prices are accepted, and large loans are the
order of the day. In commercial paper little
dong. Best names are placed at 65@7, chiefly
at the latter
The New York Herald this morning says:-
'Fhe decline in the premium, combined with
the uncertainty attending the future legislation
OF Congress with regard to the finances, has
produced apprehensons in the public mind
which tend to the stagnation of tIade and limit
production accordingly. There is no doubt
that Congress will pursue a very cautious course
IN dealing with the currency, and 1T Is probable
that the present rate of contraction will be de-
creased before the session expires.
"a rather uneasy feeling prevails among
manufacturers, importers, and others, owing to
the onerous taxation 10 which they are sub.
jeCted, and against which they loudly complain
Such taxation is too burdensome to be long eE-
dured and we call the attention of Congress to
the prompt amendment of the present law. The
mere payment OF taxes takes away considerable
portion OF every mans income, and impoveri5bes
the whole community. And for what? why, merely
for the sake Of reducing the national debt, which
may as well be paid by posterity, for whose
benefit it was incurred, as the present genera
tion. 1t stands TO reason that excessive taxation
acts as a check upon the productive powers OF
the country, and by paralyZing industry il reacts
upon immigration. Hence we have already
seen, OF late, large numbers OF newly arrived
Irish immigrants returning to the place from
whence they came, simply because they could
find no work to do, the labor market being over.
stocked"
PHILADELPHIA STOCK EXCHANGE SALES TO-DAY
Reported by De Haven Sc Bro No. 40 s. Third street