The New York herald., 1866-05-19
FINANCIAL AND CONNER cIAL.


Tho stock market has been, the WHOLE firm and anil
mated day. Hudson River taking the lead in the specu-
lston for among the New York railway shares and
Cleveland and Pttsburg among the Western ones There
Is still growing disposition to invest In railway property,
owing the large receipts OF the leading companies,
while the ''bull speculation, in anticipation OF an ap
probation Of values aided by the extreme monetary
ease which, from the Of governing causes must
necessarily be prolonged
Al the open board at ten O'Clock the market was firm,
with especial buoysncy in Cleveland and Pttsburg.
New York Central sold at 94A 4, Erie 74a<, Hudson
River lIOsi Reading lO7'<. Michigan Southern b. 81 s0
Cleveland and Pittsburg s63s, Cleveland and Toledo
lo4A, Rock Island sa5s, Northwestern 2s-preferred
5sS, Fort Wayne s91s, Milwaukee and ST. Paul pre-
fered TO- Ohio and Mississippi certificates 2s Canton
ol7, Cumberland AK, Quicksilver 535, Mariposa pre-
ferred 2l4 Western Union Telegraph co., AT the first
regular board thero continued frmness. and New
York Central closed 4 higher than at the half
past two board yesterday. Erie y, Hudson River
u, Reading u, Cleveland and Pttsburg ~
Northwestern H-preferred a. Canton u, Quick
silver ~, Western Union Telegraph ia hch-
gan southern y lower Ohio and Mississippi certih
Gates 1s, Cumberland y. Government securities were
steady excepting seven-thry of the second series,
which declined y. ,.e
AT the one O'Clock sessions the market was steady.
At the half.past two board il without material
change Hudson River closed higher than at the first
regular board Northwestern -preercd q, Milwaukee
and ST. Paul preferred l. Cleveland and Toledo "a Quick
silver u, Mariposa preferred u. Reading closed u
lower Michigan Southern 4, Cleveland and Pittsburg
~ Ohio and Mississippi certificates u, Cumberland %,
Canton a. Government securities were duh. Coupon
sxes 1851 and seven-thrty notes Of the second sees
advanced a. Fivetwentics of the third issue declined
y.
AT the open board at half past three the market
firm New York Central sold at 94X, Erie 741z, Hud-
River Ills, Michigan Southern 1875, Cleveland and
Pttsburg d. 81 s57s, Cleveland and Toledo 1861
u; Rock Island s3a. Northwestern 2si5-preferrcd
5s5s, Reading 1913, Fort Wayne 9sH, Ohio and Mssis
s,ppi certificates 2s4, Canton 6l5 "a Cumberland 47,
Quicksilver 543s, Mariposa preferred 22%, Western
Union Telegraph 6lh Afterwards the market was duh,
and except for New York roads, prices were barely
steady. At half past five New York Central quoted
at 94,s u, Erie 74,s =, Hudson River INK 112,
Reading 1o7s y, Michigan Southern 79H u, Cleye-
land and Pittsburg $685. Cleveland and Toledo 1861
los, Rock Island essl Il, Northwestern 29l4 "
preferred 59k "; Fort Wayne 9Sk; Ohio and Misss-
sippi certificates 2s]s u, Quicksilver So u. t.l
The money market continues to show less sluggish
ness. although there change note in the rate
either for loans discounts the supply Of capital being
largely in excess Of the demand The wants of the
Stock Exchange are promptly met at per cent the
transactions at the lower rate being mainly govern
ments Five per cent is generally asked for advances
railway and miscellaneous stocks, but loans at this
rate have been paid OF to-day and lenders have been
able IN some instances TO put them out First
class commercial paper is request at per cent,
and good but not prime at8a7. '
The gold market opened ut 1914, ana advanced TO
13oH-the closing quotation. At this ngurc the Trea
sary broker stood ready SELL yuss now, although
further shipment or than three millions Is looked
forward TO Saturday. the knowedgc that the govern
mont has Q reserve Of nearly fifty millions of gold
checks operations for rise but should the exports Of
specie continue long tho present the Treasury
w, lose control Of the market Loans almost
invariably made without interest The steamer Man
haitian from Vera Cruz. brought 1925 4S2 In specie.
Foreign exchange firm and active In preparation
for morrows steamers There very few cotton or
produce bills Offering and the demand Of the
supply. Good commercial bills command lOsX Bankers
bills England at sixty days sold at 1O9X, three days
1l0x; bills Paris at sixty days 6.l1K 5.l2k; short
sight o. Tho diminished cotton exports and the pros
poet Of their further diminuon in anticipation OF the
next crop being q short give undertone
OF strength to the market. and this tendency Is
assisted by large present aud prospective import
ations which include foreign wheat, our own
winter crop having been very scanty aud Of In
feror quality owing to premature rpenng Tho growing
progressing very ayoraby owing 10 the seed r.ea nav
na either failed 10 sprout or p.rraced scky plant,
rho on the ov.- sssssspp great damage has resulted
noods There is however. less complaint about
labor than bAvsssfvsr.
petroleum and mining stocks were generally firm and
Al the first board BennehoT Run oil closed l5c.
higher than the time yesterday, Ada Elmorc &c.
British American preferred 30c AT the second board
Central closed 15c lower than the board selling
at 81 Is; Bullion Consolidated Gold was I0c higher
selling at $4 50 Bennehof Run sold at $12 90 Buchanan
Farm Soc. New York and Allegheny 81 80, United
states 81 60, Oak Shade 81 co. New York and Newark
2oc Atlantic and Pacific S. Consolidated Gregory Gold
$13. Downievie Gold 42c, Gunnel Gold o3c., Holman
Go &c., Kipp and Buell. 81 60 Is ao) Quartz Hin a 60
An adjourned meeting Of the Clearing House Associa-
lion held to-day take into consideration the pro-
posed amendment OF tho constitution growing OF
case OF the Continental Bank versus the Bank OF the
Commonwealth; but tho meeting was further adjourned
until Wednesday next without amy vote having been
taken.
II s announced from Washington that the House Com
mlitce Banking viii shortly report bill prohibiting
dwbursing officers from depostng government funds In
national banks situated In places where there Is United
States Treasures occ and providing that in all other
places banks which repositories OF public funds shya
BE- required to give ample security for all dcpre
lodged with them. This is which Is rcrered
necessary TO guard the Treasury against loss In o. CASTE
bu, should have been adopted sooner tbn'riDcipe
that an ounce Of prevention better than. pound OF
cure, End was defect in the Nationa'Jurrcncy act
thai such clause included wu the other pro-
Wis ons for their regulation.
We observe In this connection sbs the Secretary Of
War has directed that s depossof funds belonging to
the Qusrtermosicr's Depsrssent Tor which officers
Of the latter ss responsible hall Be made only With the
Treasurer or Assistant ~easurers Of the United States
rhs Secretary Of the rsssury, In writing letter TO Mr.
Stanton ADVISING nat changes be made OF deposits
already lodged ~'h national banks, endcavors TO quad
sgans, the inconyeniences and possible dangers OF
sudden nangs orpocy, and so far tho change with
res.rd uanoua bank repositories concerned should
% sraduJ enough 10 provide against contingencies
which readily suggest themselves
The nst'onal banking system we regard doomed
one and therefore, the is fate is decided the
better II will be for the counrps Congress should lcgs.
late out OF existence as speedily az 4. ooosstcpt with