The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-04-16
FINANc IAL AND COMMERCIAL.
SUNDAY. April Is. 1888.


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SUNDAY April Is. 1eoo
Speculation on the Stock Exchange during the past
week has been almost entirely in favor Of RISE II We
except an interval of disquetute at It's commencement
produced by alarming but incorrect report Of the
pestience on board the steamer England at Halifax.
The bears awaited themselves Of the apprehensions Of
the approach Of cholera to soil the market down. but it
yielded stubborny, and subsequently, developed strong
recuperatve power, and prices higher the Close
with the exceptions Of Erie and Michigan Southern than
at the opening. An active upward movement in Ohio
and Mississippi certificates begun on Thursday,
and the price advanced about two per cent In anticpa
ton Of the road being shortly put up Tor sale by
the trustees TO satisfy the trust, when IL Will be
bought in by them and thereupon handed over to the
management Of the company, the certificates being ut
the same time converted into stock Rock Island and
Reading were also strong and confidence in the value Of
railway property gave firm underone to all the leading
stocks the miscellaneous list there at tho
time unusual buoyancy and activity. Mariposa pre-
ferred in very brisk demand and advanced five per
cent the share selling at "a at the O'Clock board
Saturday Quicksilver largely dealt in, and rose
about eleven per cent and Spruce Hill Coal attracted con-
siderable attention at the open board The
buil" element Is the controlling present. and the
probabilities are, In view Of the prospect of longc
tnued monetary at this centre, the large earn
ngs of railroads. and the important fact that excepting
Michigan Southern, Rock Island and Hudson River
prices considerably below those current the end of
last year when the earnings much less that the up
ward movement has far from eliminated Eric Is twenty
three per cent lower than 1t then and Of the
speculative directors Of the company undergoing Its
credit 10 the best Of his ability because he has pecu
mary interest in seeing the price submit to further de-
cline This stock has been the target Of the bears
for some weeks, and by depressing it they
sought to exert corresponding influence upon the gen.
era Market but the result thus far has probably been
more loss than profit to themselves
At half past five Saturday afternoon the market
closed steady tho following quotations:-New York
Central 92H u, Erie IS A Hudson River 10SX 100,
Reading 1O4ia Michigan Southern 1923 r, Illinois
Central la "a Cleveland and Ptsburg 79S y, Rock
Island 119H u, Fort Wayne 91A \, Northwestern
28H u, preferred Sc ~ Ohio and Mississippi certf-
Gates 2eA, Marposa preferred 23k x, Spruce Hill
Coal 6k
The money market worked with greater ease than dur.
ing the previous week. and the general rate for call loans
declined TO five per cent, with important exccp
tions at k41a among the brokers and private
bankers than at g. although the latter asked by the
banks. The supply Of funds seeking employment SO
far in of the demand from the Stock Exchange
and for discounts Of good commercial paper that large
amounts have been diverted to the purchase OF CON-
pound interest and seventhiry notes, quotations for
which have advanced accordingly. the former ~ 2
per cent ard the latter The gold bearing securities
the other hand slightly depressed by the de-
cline fvc-twenties in London and Frankfort
In sympathy with the general heaviness Of
the funds and foreign securities without exception
Fve-twcnties declined y ~ In the discount line first
class commercial paper has been and request at
6a7h according to date but ordinary signatures
abundant and offered through the note brokers at Is
per cent Not little 'shinning and "kite- flying"
have been resorted TO by needy merchants to enable
them 10 carry the stocks OF goods with which they
found themselves in many instances overloaded dur
ing the recent prolonged dulness in the merchan-
disc markets. Now, however in their own ng-
urative language, they begin to daylight,
and more confident feeling pervades the commercial
mind, while active trade has taken the place OF
the previous semi-sagnation. There is STILL however,
disposition TO limit Transactions to current necessities.
The dry goods has been steady but the volume
OF business light the advance in prices of the pre-
ceding fortnight having disposed buyers to cura their
orders The imports of foreign dry goods continue
large the total entered at this port for the week ending
the 18th inst having been valued In gold at
003 467, while the quantity thrown into the market
during the time valued at 81 6l0, 44S, owing
10 tho Withdrawals from warehouse being large Now that
tho financial policy Of the government has taken shape
and the limits within which the Secretary OF the
Treasury act known there Is for appre
tensions of any material disturbance OF values In
qucncc Of Treasury movements The entrcaties OF the
radical contraconsts, who would have bankrupted the
Treasury and the mercantile community at a single
blow been disregardcd and conservative counsels
have prevailed. There is therefore, nothing In the
state OF the public finances TO interrupt the general pros
perty Of the country but much to foster its recupetve
strength.
The gold market the whole steady, but the
daily fluctuations little wider than Usual during
lu The advices from Europe with regard TO the Aus
tnan-prussan difficulty and the decline Of our securities
had tendency strengthen the Market but not to an
extent sufficient to produce any material advance Cash
gold was brisk borrowing demand from the bears who
look forward TO the payment OF the May coupons for 70
lief about ardenty the children Of Israel awaited
fall Of during their hisior cal forty years in the
wilderness
The daily range Of the market was as under
Highest Lotoea
Monday ............... l27L 1875.
Tuesday. .................. l2oh l2ots
Wednesday. .............. l2IA l2oh
Thursday. ................. TIA l-t1 "a