The New York herald., 1866-04-09
FINANCIAL AND CONNER cIAL.

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SUNDAY, April 8, 1865
The stock market active but feverish Till near the
end of last week when II became more settled, and
closed with a strong upward tendency. The disturbing
and exciting features the railway speculation were the
repd rise in Michigan Southern and the forced depres
sion OF Erie The former under a scarcity Of stock for
delivery sold at lO4 cash Thursday morning at the
epen board who ii was offered at "a upon sellers
option Of three days Erie at the same time being
vigilantly hammered by, as is supposed one Of
It's leading directors, who was known to be
'shortn of stocks, inciudlng Old Southern the
course OF which aroused his ire 10 such degree
that no appealed to that blind goddess who holds
the scales through the Superior Court for injunction,
and he got Ii but alas for the vanity Of human hopes
not Needed and the horrded Ursa Major of Broad
street had the Old Southern Of which he was "shor
bought in for his under the rule OF the Stock
Exchange. Bent upon punishing his enemies with the
utmost rgor OF the law however, he has made sup
Elemental complaint In which he charges his own
brokers and the President Of the Board with peing
parties to inlict upon him great damage" ana
the law will sit In judgment and Lear the
arguments for and against his application on Mon
day Meanwhile, to add TO his discontinue, Erie
escaping control has bounded upward like kite and
after selling down to 71H ut one tme during the
week closed on saturday at 79S so. The most
gested by Pity the Sorrows OF Poor Old
Man" There was a strong demand for Cleve.
land and Pittsburg the week advanced, and at half
past FIVE saturday evening it very active at sl
q q. Erie at the same time quoted at 1879 go
Michigan Southern Sl2l 49, Hudson River 1oe2i l07
Northwestern 264 bid, preferred 55% SO, Rock
Island ll6T a x, Fort Wayne 9l1z S, Now York
Central 927s 93H
Government securities dull and the six per cent
gcd.bearng stocks declined u q per cent and ten
fortes =; seven-thrty notes u a. This in part
owing the slghtsecne in American securities the
London Stock Exchange reported by the last two steam
srs in sympathy with the general of anxiety which
felt in relation to the Austrian Prussan question
The failure under dscreditable circumstances, of the
London Joint Stock Discount Company, and the panic in
the stocks OF nance companies at the same time, con-
trbued the depression of prices generally on the
Stock Exchange
The Stock Exchange abundantly supplied with
money at per cent, with few exceptions on Satur
day five and all the indications favorable to unn
terrupted monetary The discount market has
been quiet and first class commercial paper has bcen
freely taken at per cent The failure of Culver,
Penn Co.. In this city, and more recently that of Ward
4 Brother OF Rochester together with the upon the
banks there and another considerable failure Bos
ton, have caused lenders to scrutnzc names closely
and to show a pre;eronce for placing their money
call 10 employing 1t in discounts. Increased
activity and a confident tone have characterized
all markets. however, during the last fort
night, and the signs generally that the semi
stagnaton and gloom which marked February and the
greater part Of March will be compensated for by
creased animation in the future There Is still certain
degree of feverish anxiety and uncertainty manifested
with regard to the Of prices but this hopeful
in comparison with the previous depression. The dry
goods trade active at improving prices during the
FIRST half Of the week. but afterwards tho demand slack
ened The dow Of currency from the West still con-
tnues very moderate extent but after the opening
Of navigation the tide will probably turn from East to
West The fact, however, Of the atter section be ng
considerably indebted TO the former will have the effect
OF adjusting the exchanges that for months to
the drain viii be merely nominal, and, therefore,
exert no influence upon tho money market hero.
The gold premium ruled steady during the week, the
business Of the specuators being chiefly confined to bor
rowing and lending coin for delivery. Loans made
al 81 10 per diem in favor Of the lender. showing
the large extent OF the "shoft" interest outstanding
The bears, however, prefer to borrow than to buy,
hoping that tho payment Of tho lvc.twenty coupons
duo May / viii afford them relief. THIS interest
aggregates about twenty millions but much OF 1t has to
bs remtted the bondholiers in Europe The closing
price 127 aud the range Of the market from day
TO day is thus shown