The New York herald., 1866-04-22
FINANCIAL AND COMMERCIAL.
SATURDAY, April 21-6 p. NJ,


SATURDAY, April 21-6P NJ
The stock market has been very firm to-day, and the
current of speculation for rise is becoming stronger
and more decided the monetary situation is better
derstood confident bear is dvis but the bulls
unmistakaby hopeful and hold the rens Of power
in manner which is discomntng to the shorts" who
move with unusual caution, which contrasts strongly
with the reckessness displayed during the first two
months Of the year. when the disposition to sell almost
everything the list general, and railways
together with the entire country, gong accord
ing the bears rapidly TO the lowest depths of ruin
from which time only could them aftera slow and
wearsome course Of liquidation. The speculative spirit
has changed with circumstances and the result is
gradually unfolding itself. Instead of "Down, down.
down., the watchword Of Wall street is now "Exceisor
At the early session of open board Erie saes OO0
sold at "a New York Central (saes 300) 92&, Reading
lsales l6OO lo3 Michigan Southern saIes 1500 s0A,
Cleveland and Pttsburg s07S, Rock Island Is 81 1908,
Cleveland and Toledo l02, Northwestern ts 81 26 pre-
forred 56S Fort Wayne 97 Spruce Hill Coal Ga, Mari
posa preferred %
AT the first regular board the market firm, and
Erie (saes 9O0) closed y higher than at the half past
two board yesterday Reading =, Cleveland and Pitts
burg IA Northwestern preferred X, Rock Island u,
Fort Wayne sales 4,O5O 1S, Cleveland and Toledo u,
Marposa preferred d, Western Union Telegraph u.
waukee and ST. Paul advanced two per cent selling at
AZ. Government securities continued strong. Coupon
skies of 1881 advanced a. sevenhirty notes Of the first
and third series q, second series q.
The board passed a resolution disseminating the one
O'Clock and past three sessions Saturday until
October next.
At the one O'Clock open board the market active
strong Erie (sales s0O) sold at 1871 4, New York
Central 927s, Reading 1881 , Illinois Central ia,
Cleveland and Toledo l02, Michigan Southern sales
2,aOO s2h q, Northwestern 271l q, preferred 5s
a q, Rock Island 121h q, Fort Wayne tsaes Soo
97%, Cumberland Az q, Spruce Hill Coal (sales
4, 7OO) 81 a y, Quicksilver 511S a 81.
Afterwards the market remained firm, and at five
O'Clock New York Central quoted at 92s1 93 Erie
735Sa e. Hudson River lO9 Reading 104 4, Michigan
Southern s2H q, Cleveland and Pittsburg s1A, Rock
Island l2ll4 y, Northwestern 203S 4, preferred
5s a, Fort Wayne 971s y, Canton So a y, Quick
silver 81 a Il.
The supply Of money remains largely in of the
demand and the wants Of the Stock Exchange
promptly met at per cent To-day the majority Of
transactions among the brokers have been at a41S
with exceptions for balances left over at 3 The dis
line is suggishly easy at per cent for first
class commercial paper.
The gold market has been steady The opening price
was 1861 followed by decline of \, and recovery of
ment of specie by today's steamers only $40 3Oo
making for the week s117,3l2.
Foreign exchange inactive and the rates for ster
ling nomnaly the same as yesterday. Some of
tho leading drawers apprehensive Of war between
Prussia and AUSTRIA and therefore refuse to sell at cur
quotations. but among the brokers the latter show
somewhat dropping tendency. few unimportant
transactions in bankers bills at sixty days England
reported at 1914 Il, the closing rate being l07'
BY an apparently semi-ofhclal telegram from WASH
ing,on through tho associated press, are informed
that the aggregate OF the government for the
first threeq quarters of the present fiscal yearnamcly
to April WAS $40 232 of which sl2s 1915 was
for duties, and s243 54s for internal reve-
nue. At this rate the total for the full year,
ending June So will be $500, 900 900, against
$500, ,567 l26 from the last year. This
enormous suggests the advsabty Of reducing
some and aboishing others Of the more and
vexatious OF the host of small taxes with which the
country burucned and which yield but little TO the
Treasury after deducng tho cost Of collection At tho
same time the fact that the country has been so abund
any able and willing TO bear heavy taxation Is exceed
ngy gratifying although its endurance In this particular
may not be without limits Our people are now taxed TO
an extent unknown TO those Of any other nation and
in an indiscrimnate which would be
productive Of little less than revolution in Europe,
where the public feels itself less part Of the
government than here. Tho best way TO pre-
serve that aw-abiding spirit of contentment which
actuacs our citizens meeting the claims of the tax
ga,herer do away much possible with petty and
vexa,ous impos,s and make equality the touchstone OF
taxation under the new bill which the Committee Of
Ways and Means will shortly report to the House of Rep
resentatiycs.
Petroleum and mining stocks dull but firm. AZ
the board Oil Creek closed Sc higher than at the
same time yesterday. United States 20c, Quartz Hill
2jc Consolidated Gregory Gold 4oc. lower At the
second board United closed 40c higher than at the
first board selling so 90 First National sold at l0c,
oil Creek ooc Pthole Creek So so, Shade River 35c,
Gunncll Gold 81, Quartz Hill (s 30) 50 55.
The following table shows the par value OF the com
mon stock the capital paid and the length of each of
The railroads whose securities are dealt in the New
York Stock Exchanse:-
Capital
Par P,tid Miles
Bcllefon tame Railway. y..........l00 81 43i2j0 lis
Buffalo and State Line. ........... so 100000 6s