The New York herald., 1866-05-18
FINANCIAL AND coMMERc cIAL.

Tha stock market opened eall but gradually oecaine
strong today and at The close was In the Ascendant
Nav York Central and Cleveland and Pittspurg "efe
the ost buoyan of the railway shares and those gener
alv stasuant nondescrpts Ohio and Mississippi cern-
Gates were galvanized into a transsnt activity ana
advanced Il. per cent The speculation for rise has
A very strong undertone, and the indications con-
Time favorable to much higher prices
The disturbed condition of public affairs on the con-
tnent of Europe can exert material effect upon the
money market here while in the event OF foreign war
our expor trade would probably be stimulated and this
would involve increased traffic earnings OF the leading
RAILWAYS extending westward The defiant attitude OF
Prussia and Austria is however, by means to be ac-
cepted as a sure sign of impending appeal to arms
There is in any case, no reason for apprehen-
sion that the value OF railway properly
will be at all impaired, that prices will permanently
decline in the United States OF what may trans
pIre in the Old werld The arguments which might
have had force when specie basis no longer
apply, except to gold and foreign exchange ana the
immediate influences.
At the early session Of the open board New
York Central sold at sa,S Erie 73x, Reading
107k, Michigan Central 100, Michigan Southern
79X Illinois Central 1908, Cleveland and Pttsburg
SAN Northwestern 2S1, preferred oSh, Fort
Wayne 9sX, Ohio and Mississippi certificates 27's,
Canton 612s, Cumberland 46h, Quicksilver 52A.
At the first regular board, with the exception
Of New York Central which closed y higher
than at the hafpast board yesterday and Ohio and
Mississippi certificates M railway shares were gencr
ally lower Erie closed at decline OF " Reading h,
Michigan Southern 4, Cleveland and Pittsburg z,
Northwestern a. Cleveland and Toledo a. In the mis-
cellaneous list Cumberland advanced ~ Canton Il and
Western Union Tele raph T. Quicksilver declined H,
Mariposa preferred a. Government securities were
five 1912 advanced
Among the State stocks Missouri skies were active and
4 higher
At the open board at one O'Clock New York Central
was strong and advanced to 94sl also Ohio and Ms
sssppi certificates, which sold at 2s % 81 but the re-
mander of the railway shares only steady At tho
halfpast two board the market was very firm, and quo
tatons improved. New York Central closed y higher
than at the first regular board; Hudson River n Mich
gan Southern Y, Cleveland and Pittsburg * North
western y, preferred q, Fort Wayne ~ Ohio and Mis-
sissppi certificates 4, Cumberland q. Canton de.
cIIned i, Western Union Telegraph X Government
securities steady, excepting coupon vetwenes Of
1885, which advanced ~ and seven-thrty notes of the
second series, which declined q.
At the open board at half-pas three the market
strong New York Central sold at 94,l Erie a. Read
ing 1o7H, Michigan Southern so 79X, Cleveland and
Ptsburg s5s Illinois Central l2ok. Cleveland and Tole
do lo47S, Rock Island 93A, Northwestern 2sH, pre-
ferred 5Sh, Fort Wayne ID. 81 90, Milwaukee and ST.
Paul preferred 69s, Ohio and Mississippi certificates
2Sh 3S, Canton 61, Quicksilver 523, Mariposa pre-
ferred 81, Western Union Telegraph 60A.
Afterwards the market closed strong, the following
beng the quotations at half past lveNew York Csn
tral 94ss * Eric TAX " Reading 1oTx ~ Michi-
gan Southern 70H 80 Cleveland and Pittsburg s5h
u, Rock Island 93I o. Northwestern 2sX a u, pro
fcrred 5s,S u, Fort Wayne 9sH 90, Chic and Mis-
sissppi certincats 2ss y, Canton 6l2s o., Cumbcr
land AZ. 4s, Quicksilver 5sXaX u.
There has been slight increase visible In the demand
for money arising from the recent sacs Of gold by h
SubTcasury; but the supply is still superabundant at
as per cent he majority of loans to the leading stock
houses being tho lower The best grade Of shor
date commercial paper Is discounted freely at 5a pei
The balance in the Sub Treasury here is consider
ably beyond the average amountnamcly $l02 257 203
The gold market has ruled steady at 129x $780, thes,
being the two extremes cf the day The closing quota
tion 1914 100. Loans made lat, with
single exception four per cent for carrying The Sub
Treasury not . seller to-day
Foreign exchange quiet but firm at 109x foi
bankers bills on England sixty days Bills Paris
ss,. " on AmsEer1aaf' 81 ,r'.HIs en Hamburg .I
s0 on Frankfort Al y. Prussan thaless are quoted
at 72k ia
Petroleum and mining stocks werc generally H. but
steady. At the first board Central closed l5c hghc,
than at the same time yesterday Ada Elmore was &C.
lower, Smith Parmeee &c., Atona SC. Al the second
board Central closed 10c higher than tho nrst board
selling at 81 80 United States sold at 81 TO- Consoda
ted Gregory Gold at s13 DownIevlle Gold at 42c Gun
nell Gold at 99c, Kipp Buell. at 81 TO- Quartz Hill al
"a 90, Washington Firc Insurance at 81 20
At the annual election Of the New York and Harlem
Railroad Company, held on the 18th instant the follow
ing gentlemen duly elected directors for the en-
suing year:-Cornelius Vanderbilt William II Wander.
blt, William c. wetmore, Horace Clark, A. b. Baylls
Augustus schell, James H. Banker, John Steward,
John N. TObn, Hiram Cranston John H. butcher
Oliver Charck ard William A. Kissam; and at n
meeting Of the Board Of Directors, held the following
day, Cornelius Vanderbilt reelected President aud
william II. Vanderbilt Vice. President
The examiner appointed by the Comptroller OF the
Currency to inquire after the horse stocn into the
affairs OF the Merchants National Bank at Washington
has made supplementary report in which he says that
two Of The Disturbing officers Of the government
had arrangement with the bank, by which they 70.
ceved interest at the rate Of four per per upon
their balances and that certain President Of Richmond
bank and formerly Of Washington, also had arangc.
mont with this bank by which he To receive one.
fourth OF the interest accrung In consideration OF nduc
ing dsbursing officers TO deposit balances with IL.
Under hs, arrange nents the defaultng bank had paid
several thousand dollars cach on these parties during
the last six months Hcrcn lay tho motive for the
mutation Of funds to tho amount Of t762 3i2 by Pay.
master Pauldng and others, in this confidence establish
mcnt Their conduct In this particular was fraud
upon tho government, and tho blindness Of
the Treasury, and particularly OF the Comptroller
OF the Currency In not pcrceivins what was going
under thcr very eyes, Ia unsccounsable We glad
and that the military commission appointed TO invcst
gate the CT faymaster Pauding has ordered that
individual under close arrest and that there is proba
biliy Of his being shortly tried By court martial
The following are tho foongs Of the Boston banks a.
compar with tue previous returns
kayI kcy ~
Loans. ............. 500, $40, 500 500 as, ,sA
rpctle.ss...... oIh,lv5 oVi,Olo
Legal tender not So. Il 4i5.i0 % 462 522
D~tsslts ............... a. 2o5,276 l2O2l,p ,p76
Circulation lnationaD. 3,si0.330 - SOL, 80
Circulation tatel 49,. 7io.sss oe5, 627
The business Of the Chicago Clearing House for the
week ending May u follows compared with the