The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-03-01
FINANCE AND COMMERCE
OFFICE oP TIE EVENING TELEGRAPH,
Thursday, March /, 1866.

There is no material change to notice in the |
Money Market. Loans on call are offered at 6
per cent Prime mercantile paper continues
scarce, and ranges at from per C. per annum.
The Stock Market opened very dull this morn
ing, but prices are steady. Government bends
are rather firmer; 7'3Os sold at 99s; 1O3b was bid
for 5-20s; 104 for 6s of 1881; and 81 for 1O-40s
State and City loans are unsettled; Pennsylvania
5s sold at 81 City 6s at 9l3, decline of 1.
Railroad shares continue the most active on
the list Pennsylvania Railroad sold at 56I@D5S9,
a slight decline; Camden and Amboy at ll79
ll79; Norristown at 81, no charge; Reading, 49S
@50, slight decline; North Pennsylvania at &c.
no change; Philadelphia and Erie at 30b@3l, no
change; and Catawissa preferred at 33&134, no
change 30 was bid for Little Schuylkill; 548
for Minehilli 60 for Lehigh Valley; "a for Cata-
wssa common; So for Philadelphia and Balti-
more; and Al for Northern Central.
In City Passenger Railroad shares there is
nothing doing. so was bid for Tenth and
Eleventh IL for Seventeenth and Nineteenth;
S5 for Spruce and Pine; 81 for Chestnut and al
nut; SAT for Hestonyille; rs for Girard College;
and IA for Ridge avenue.
Bank shares are firmly held. 2O4 was bid for
North America; 14O for Philadelphia; 122 for
Farmers and Mechanics; 55 for Commercial; 2sB
for Mechanics; lO2 for Southwark 81 for Penn
Township; 81 for Grard 75 for Western; 81 for
Manufacturers and Mechanics; So for City; 40
for Consolidation; 625 for Corn Exchange; and
55 for Union.
Canal shares are inactive. 22t was bid for
schuylkin Navigation common; 29b for pre-
| ferred ditto; 5ls fOf Lehigh Navigation; la for
Morris Canal preferred; 118 for Susquehanna
| Canal; 81 for Delaware Division; and 6S for
| Wyoming Valley Canal.
Oil shares continue dull and neglected. Maple
Shade sold sold at 4g@4l, slight decline.
Messrs. Jay Cooke & Co. will open their New
| York house to-day, on Wall street, corner of
Nassau, opposite the Treasury Office, for the
business of private banking, in connection with
their Washington and Philadelphia offices. The
firm will be represented OH the Stock Exchange
by one of the resident partners, Mr.. Edward
Dodge. 1t is stated that Mr.. Pitt Cooke, of Ohio,
and Mr.. Fshnestock, late of the Washington
Office, are also to become resident partners in
New York.
The New York Tribune this morning says:-
Money is per cent on call, and the strongest
houses pay il freely for large amounts After small
| b okers make up their accounts they are ready t0
In commercial paper no change: u is as 10 Y as
pnme bills can be quoted on the streeti good 0G9,
| and ordinary lOtal6, ana some even hlRher.
The disposition TO avoid long engagements for
money continues and, until Congress dlspOses of
the loan BILL cali loans at moderate rates and long
paper at exorbitant interest will be the rule With
out additional legislation the Secretary has ample
power to free the country from the flood of oircu.
lang money which deranges al balances. All that
is needed IS the exchange of compound notes for
leeal tenders. The latter, in short time, by
the accumulation OF interest, would pass from
circulation and produce a healthy contraction
among spectators, whether in lands, merchandise,
or stocks. The substitution Of compound notes for
legal tender notes would soon oblige the National
Banks TO contract and redeem portion ot their
Gil culation, process which would NOS alarm the
public, however unproftable might be to the own
ers of the banks some of them would probably
hquidaie for there IS no lack of speculative
bGnKs in the system, which c0uld 90 we'll
spared One argument in favor OF tne
growing out of the war. They were placed
upon the footing of iToncads and large armies, and
uIon that argument were established. The war
h beng ended there reason why speculative
banks should not like the irOn-clads and the armies
be reduced to peace footing. The national system
Will be much improved by hqnldatlon at the North
to an extent sufficient to supply the south with the
banking facilities 1t needs. The present law is COM
prehensive enough for the entire nation, and Con-
Rress should proceed with caution in the way of en-
sterling Bills are held by leading houses at 100 for
60 days. Francs, 8 % 23G61Sa.
A despatch from Washington says -
The Ways and Means Committee have agreed to
report bill providing for tax OF five cents a
pound on cotton, and allowing drawback on man
agreed TO report bill eXemPting from taxation all
incomes under $1,000, and taxing all above that
sum at q uniform rate Of five per cent.
SALES AT PUBLIC STOCK BOARD TO-DAY.
Reported by s. @. johnson, No. 1928 Walnut Street.
FIRST CALL.
S SS 81 81 s1 sugar C S S 81 seSana r SiSn g
i 800 sb McChntoek :. j 100 sh Nc Elrath. ..s ]