The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-04-11
FINANCE AND COMMERCE
OFFICE OF THE EVENING TELEGRAPH, !
ANnAnnn.l.nu. Z

There was more disposition to operate in
stocks this morning, and prices have an upward
tendency. Catawissa Railroad continues the
most active on the list about 1000 shares sold at
29030} for preferred, the latter rate an advance
of "a, and common do. at 33@35, the latter rate
an advance of O.; Reading sold at 5t1, an ad
vance of 1; Pennsylvania Railroad at 565057, no
change; and Philadelphia and Erie Railroad at
49,, slight advance. 117a was bid for Camden
and Amboy; 284 for Little Schuylkill; 52f for
Norrstown; 553 for Minehlll; 36t for North
Pennsylvania; 81 for Lehigh Valley; % for
Elmira common; Al for preferred do. and 454
for Northern Central. Was.
Government bonds are less active. 52Os sold
at l035, slight decline; 7'3Os at 1OOb@10O3 and
l040s at Gig; l044 was bid for 6s of 1881. City
loans are firmly held. The new issue sold at
924 and the old do at S74.
City Passenger Railroad shares continue very
dull Hestonville sold at 43, decline of 2; 7OI
was bid for Second and Third; l94 tor Thirteenth
and Fitteenth 504 for Chestnut and Walnut; and
80 for Green and Coates.
Bank shares are in demand, but we hear of
no sales. 2O6 was bid for North America; l4O
for Philadelphia; 1913 for Farmers and Me-
chanics' 80 for Northern Liberties; 2s4 for
Mechanics; 100 for Keusington; So for Penn
Township; 54t for Girard; so for City; SO for
Commonwealth; 6l for Corn Exchange; and
56B for Union.
In Canal shares there is little or nothing
doing 29 was bid for Schuylkill Navigation
common 81 for preferred do; "a for Lehigh
| Navlgation lis for Morris Canal preferred: I33
| for Susquehanna Canal; and 46 for Delaware
Division.
Oil shares continue very dull Ocean sold at
| 81; and Maple Shade at 3, an advance of
| The Cincinnati Commercial says:-
| Exchange continues in large demand, and
| with Inadequate receipts In the regular course
| of business, bankers find 1t necessary to for
| ward liberal shipments of legal tenders, to keep
| good their Eastern accounts. The Money Mar
| ket works comfortably for those who can assert
| good claims for discount assistance. Checking
and depositing are lively, resulting in but little
| change in the supply, however, OF currency
The direct export clearances of Cotton this
| wee are the heaviest ever reported, for any
single week, from the port of New York. They
| arc TO
Bales
Liverpool. l08
queenstown. 29l5
haVre. 24l6
Bremen. 703
Total.
The New York Tribune this morning says:-
| money on call is per cent. upon ordinary col
| laterals. To lend balances 8 per cent. is ac-
cepted, and this rate IS also made upon Govern
| ment securities. In commercial paper the rates
| are unchanged. The best names in the city sell
| at per cent. Good bills pass at 500; ordinary
| at lO0l5, and still higher rates are made upon
the paper of enterprisng houses.
'The passage of the Loan bill should make all
| debtors cautious, and stimulate them to every
possible effort in the wav of liquidation. The
| Secretary under the financial bills now in force
| has ample power to contract the currency and
place the Government finances in order He
can sell new bonds, or exchange short currency
debt for long ones, and make terms which will
attract to his use the loanable capital OF the
commercial world. He is not allowed, to be
sure, to cancel the legal tenders, but he is not
prohibited from withholding them from crcula
ton, process as dangerous to expanded banks
and extended traders as their destruction would
be. The Secretary means specie payments as
soon as they can be reasonably brought about
and this fact cannot be too often brought to
the notice OF parties desrous of running into
debt upon debased currency, sure to be speedily
improved at the cost of debtors. The abundance
of money seeking employment on call at low
rates, is the sure evidence of stagnation in
the business OF the country. 1t shows that
the unhealthy activity produced by the Re.
bellion and the consequent issue OF hundreds of
millions of iTredeemable paper money. is being
superseded by the moderate movements such as
mark the era OF peace. The Secretaries of the
Army and Navy have cot rid Of the machinery