The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-03
FINANCIAL AND COMMERCIAL.

FRIDAY, Feb 30 r. M
Tho stock market opened this morning with an unset
tied tone the decline OF last evening" and at the carly
essou of the open board New York Central sold at
Eris Tx X Hudson River sssl, Reading 0sx, Mchi-
ran southern esX, Cleveland and Pttsburg S1k, Rock
Island osx Northwestern 27, preferred g. Fort Wayne
s2x Schuylkill Coal 1914 At the first regular board
mora confident feeling prevailed, and the appre-
hens,ous regarding the new finance bill, which
induced the decline, wore away Cleveland and
Pttsburg and Rock Island were the strongest
stocks on the railway list the former closing
per cent higher than ct the hafpast two board yes
terday, and the latter 70, lo) Michigan Southern
was steady. New York Central closed u lower, Erie
~, Hudson River u, Reading Y, Illinois Central X,
Northwestern u, preferred x, Fort Wayne y, Quick
silver 4. Ohio and Mississippi certificates u. Govern
msnt securities were Arm. Coupon hvetwentes Of the
old issue advanced y, seventhrty notes Of the FIRST
series r. After the call strong but at the one
o'clock sessions the market was dull and generally
fraction lower At the halfpas two board It weakened,
especially for Erie which closed per cent lower than
ut the first regular board New York Central u, Read
ing " Michigan Southern e, Illinois Central Il.
Cleveland and Pittsburg Y, Northwestern y, Fort
Wayne u, Ohio and Mississippi certificates X, Rock
Island r. Hudson River was y higher Northwestern
preferred u, Chicago and Alton Governments securi-
ties barely steady. Coupon nve-twenties Of the
original issue Were Is lower, ton-IOrtles -.
At the half past three board the market was languid
New York Central closed the call at SIX, Erie Tx,
Michigan Central 10l, Michigan Southern esX, Glove
land and Pttsburg s2X, Northwestern preferred SAX.
Afterwards there rmness shown, and at half.
past Ave 90 bid for Michigan Southern Erie was
quoted at Tx a u, Cleveland and Pittsburg SIX.
The gold market was firm and the supply Of coin for
delivery scarce loans being still made at u ale per
cent per day. The opening price l4o followed by
o decline Of 4 and subsequent advance to l40X-the
closing quotation
There were some heavy transactions In foreign ex-
change, but rates were weak and unsettled Bankers
bills at sixty days sold at 1osx 1os, commercial at
107 a 107X, francs at 621x 62sX. The prevailing
depression in exchange Is attributed mainly to
the shipments Of cotton which have been
going forward for time past; but. at
the present moment, 1t is more Immediately
owing the profitable to which coin be applied
In the Gold Room There is q bear movement In ex-
change based upon future exports Of cotton, but 1t Is
impossible to say how much Of the staple will actually
60 forward during the current year. We disposed to
believe that both the last and the present years crops
have boon overestimated, and that the tendency Of
change will be upward instead Of downward, as many
suppose As an opposite argument however, We quote
from the circular Of wotherspoon Co. the following
The supply of cotton from May 1885, 70 September
-
The actual receipts at the shipping ports already exceed
1a50 900 bales, Of which there have been shipped to
Europe about 600 bales and the stock on hand In the
ports placed at the same figure, from which 1t would
seem that only about 200 bales have been taken In
nine months for home use, in addition to the stock
hand the 1st Of May 1t s therefore, reasonable to
assume that the import into Europe Of United States
cotton during the present will not In the absence Of
political complications fall short Of, and may even
greatly exceed 900 bales and Is thus longer
question TO how this country will pay for her imports
but how she il TO get paid for her astounding surplus Of
exports
The money market shows no noticeable change, and
loans made freely at per cont with the majority
Of transactions among the brokers at the former rate
The balance in the Sub Treasury this evening Ia
e9s, 3s2 sol, and Of the amount In hand yesterday
81 s52 4o3 was in temporary deposit, including twenty
Ave millions In Clearing House certificates The dis
count line Is moderately active and first class
cal paper passes at per cent with exceptions a
one half per oent below the legal rate
Tho statement Of the public debt for the month ending
January 81 shows increase Of ST. LA upon the
previous statement. II We exclude the amount in the
Treasury from each Of the returns but including this in
che calculation the increase In the Indebtedness Is only
e31o61d Thers In decrease Of g. ass 1eo In the total
Of legal tender notes. and increase Of In the
fractional currency The following presents oompari-
aou Of the leading itoma Of account