The New York herald., 1866-03-20
FINANCIAL AND COMMERCIAL.


.1ga. &, rt MONDAY March I9--6 p n u
ma sorh ,,ayrei opened strong and active this NOR
nng and continued 90 till about three o'clock IN the
sssynoon vnen II was slightly unsettled by the
nitment Of the Morrill, Loan bill in Congress and false
rumor regarding its passage Afterwards, however, 1t
nddenly rallied and closed buoyant The weakness Of
sbe gold premium exertcd no perccpuble influence In
checking the speculation for rise the Stock Ex-
change and II is becoming daily more evident that
she former has almost if not entirely, ceased
70 be guide 10 the latter, and that the
swo markets moving Independently Of each other.
view taken by the majority Wall street k indeed
that the gold declines the currency there will
be available for the Stock Exchange, and that
while stagnaon and depression characterize the general
merchandise markets. speculation in stocks will be smu
lated 70 inordinate degree for the want Of other
means Of employing idle capital The chief feature Of
the railway share market has been further
-S1se iof three per cent on Michigan Southern
and sharp upward movement in Cleveland and Pitts
burg and Rock Island The former absorbs the greatest
share Of attention, the particularly in consequence
Of the termination Of the Reciprocity treaty with the
British provinces, q large amount Of freight traffic
hitherto confined to the Michigan Central road-the
highway to Canada-wil it is expected, be diverted in
favor Of the Michigan Southern road the produce bher
70 sent across the border being forced lnd
kets in the United States.
Al the open board at ten O'Clock Michigan Southern
sold at 7s1s sacs 12 700 sharesl New York Central
s2,s lsalcs 3,6o0, Erie SIX 81, Reading ssx, Ceve-
land and Ptsburg 7s,S Rock Island losk, Northwest
271, preferred SAX, Fort Wayne 92k' (s3l
Schuylkll coal 15k. At the first regular board the
market buoyan and Michigan Southern (sales 1850
shares) closed "a higher than at the halfpast two
board Saturday, Cleveland and Pittsburg !, Rock
Island x; New York Central was y lower, Hudson
river x, Reading, Y, Northwestern Y, Fort Wayne u,
Cumberland 4. Government securities were dull. Cou
pon nve-twentes Of the old issue were lower, seven
shirty notes Il, ten forties advanced u.
At the one o'clock sessions Michigan Southern
slx and Cleveland and Pittsburg 70 81, the general
market being at the same time frm At the halfpast
board there a slight unsettement Of prices con-
sequent the report that the McCulloch Loan
bill had been referred back the Committee OF Ways
and Means by OF the House Of Representatives
and that the bill had been reported back TO and
passed by the House, and improbable this rumor
exerted temporary effect in lowering quotations
Michigan Southern (sales 3o0 closed higher than at
Abe first regular board Cleveland and Pttsburg sales
470O) u, Rock Island (sales l,40o) y. New York Gen.
trai * lower Erie z, Reading 4. Northwestern a.
preferred e, Fort Wayne y, Cumberland 4. Mariposa
preferred sold at 1sX. Government securities were dull
but firm Conpon nvetwenties of the old advanced
"a.
Al the half past three open board the depression
tinued but without any material change in prices
the temper OF the market New York Central sold o.
Erie SIX, Michigan Southern, 80x, Cleveland and Pitts
burg S0h, Cleveland and Toledo 1917, Northwestern
1e preferred TO- 81 81, Fort Wayne sl4, Illinois Gen.
al 1854 Canton 46x. After the call there quick
rally and Michigan Southern reacted TO Sls and Cleve
land and Pttsburg TO s0sx. At halfpast five O'Clock
The market strong at the following quotations.
Rock Island III y, New York Central % 4,
Erie s2H y, Hudson River 106 4, Reading COX . \,
Michigan Southern SIX, Cleveland and Phsburg s01s
Northwestern 2oX q, preferred "a 4, Fort Wayne
slha " Ohio and Mississippi certificates 26h "a,
Cumberland 44kah.
Compound interest notes were quoted at premium,
follows, by the leading dealers in them-June 1884
sk; July, TX; August, ~; October. ok; December,
b3; May, 1885, TX; August, TX; September TX; Octo-
bar, Ia.
The money market continues extremely easy at q q
per cent with the majority Of transactions At the lower
rs.e. The bank statement for the week iavors
the prospect Of prolonged monetary ease al
0s centre. The deposits show incrcas'
q s2e the legal tender notes of a. ooo so2
Ihse only trning In the loans OF $500 lol
which suggestive Of limited business in the discount
lima The circulation has increased $2o9, ,s1t owing
The steady Of national bank currency, and thu
speee reduced $S47 ss6 The totals OF this weeks ans