The New York herald., 1866-04-05
FINANCIAL AND COMMERCIAL.

FINANCIAL ANU COMMGRN"N@'
"WEDNESDAY April 40 p. NJ
mo stock market has been excited and irregular TO-
day, owing chiefly to further large rise IN mcnigan
Southern the price Of which touched los regular aie
the afternoon Tho extreme upward movement OF Inn
oc has been source Of surprise TO the street, and al
of speeulations are hazarded upon Its future
The general tendency Of prices appears 70 be upward
and the sbulp' element in the ascendant.
AT the early session Of the open board Michigan
Southern sales ,sOo sold at soN cox, Eric sale'
4s0o) 7s% y, Reading e9,s, Cleveland and Pittsburs
70 a 7sX Fort Wayne s9h, Prairie du Chen e4. Al
the regular board the chief Of the market
confined TO Michigan Southern saes TO- 900 shares
which sold as high as 95 cash, but closed at
9l, SO higher than at the first regular
board yesterday New York Central closed u lower, Erie
(sales 34oo) 1, Reading (sales 26oo r. Cleveland and
Pittsburg ~, Rock Island 1x, Fort Wayne r. western
Union Telegraph g. Ohio and Mississippi certificates u
Hudson River and Cumberland were steady Government
securities quiet Coupon nve-twenties OF the lSe2
issue were higher Ten-forties oeoined n. seven
thirty notes were unatered.
AT the ono O'Clock session the market was .
shade lower, except for Michigan Southern which
sold at ST. seller three days. and 95 cash. At the half
past two board Michigan Southern was less excited, and
sold at ss, seller three, and olX regular, closing
higher than at the first regular board Now
York Central showed an advance Of V, Read
ing u. Cleveland and Pittsburg 1x. Western
Union Telegraph X. Erie remained depressed and
closed lower Fort Wayne X, Rock Island s, exdivi'
dend g. Government securities we're somewhat heavy.
Coupon SKIES of 1881 were u lower. Five-twenties
OF the 1862 issue 4. Seven-thirty notes were
steady. At the hafpast three open board the
market was stronger. Michigan Southern sold
at 96 regular and SO selet three days; Erie
72S 1874 Reading esT a 100, Rock Island (ex.divi-
dend) 110A, Cleveland and Pittsburg so 79k, Fort
Wayne 80, Cumberland 4314. Afterwards the general
market closed rm and Michigan Southern to 1O4
regular while it offered at s4H, seller three. At
half past five it quoted at 10S 104 Cleveland and
Pittsburg 79H " North Western 2eH u. preferred
"a a ~ Rock Island 1lo x, Fort Wayne ss% n,
Hudson River 1OS1k 100, Reading 10O4 u, New York
Central 81 X q, Erie 1874 a %.
The gold speculation is less active and the supply Of
coin for delivery is moderately abundant Loans
made from per per diem in favor OF the lender to
fiat. The opening quotation was 1874, followed by o
decline 1919 and recovery 1874 The export Of
specie by the Australasian was only $4,000.
Foreign exchange was dun 1861 x for bankers
bills at sixty days England. The best sold
ond hand ut the former rate. Commercial 1867 1861.
Bills Antwerp 5.371i n 5.33si, Hamburg
85s q, Amsterdam S97S 40H, Bremen .61
77A Money continues abundant at five per cent
TO tho Stock Exchange on governments and at six
on railway and miscellaneous coaterals Tie discount
lire is more active and first class commercial paper Is
qpoted at seven per cent the minimum and eight
the maximum. At the best the money market is re-
ported nomnay active but the drain Of currency in
this direction is still felt Tho Chicago Tribune of the
1st instant remarks:-
The money market s closer to-day, IN consequence OF
dsncinaton the part Of bankers to extend their
discount lines the last OF the quarter and just be-
fore making their quarterly statement but there was no
mand comparatively light, Discounts steady at
ten per cent per month the street. Eastern exchange
still scarce but the demand to-day still light and tho
market ruled quiet and firm at par buying and 10
premium selling. The bankers generally bought lit
tie outside exchange possible .. r.t
The Cincinnati Commercial Of the ID thus reported:-
Exchange scarce enorgh to keep bankers close up
70 the point OF shipping legal tenders. The demand ID
steadily large and but Little is making through move
ment oil produce The local exchanges Of the banks
weIc unusually large to-day through active check
ing; but their discount business than mod.
crate comfortable feeling to currency Is expert
enccd hut there Is not much Of 1t accumulated lying
e Ten per cent stated tho ruling rate Of interest
thpt money Ii worth on first class customers' paper
Tho mining petroleum stock active spS
hrmer At tho first board Homowack closed % e5 hieh
selling ct 81; BennehoG Run soc., selling at 81 10
United States 7Oc., selling at % 60 Kipp Buell. wa
Doc lower selling at 81 40; Excelsior Copper 20c sell
ing 81 TO- At the second board Benncho Run close
soc lower than at the first board, selling at $12 10
Phole creek S6c. higher, selling OF - Is; Unite
States 81 20. Brcvoort sold 1t a. Ham McClintoc
81 Is. New York, Philadelphia and Baltimore 40c.
Webster 5oc. Atlantic and Pacific 81 10, Dowpievill
Gold 43c., Gunnoh 81 Is.
The business aa the Sub. Treasury to-day was ss fol