The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-04-27
FINANCIAL AND CONNER GAL
THURSDAY. April 2e-sP. N.


Afterwards weakened under vague apprehensions re-
spectng the effect here of the panic on the London
stock Exchange These, however were unwarranted
as the fact all business with Europe istransacted
on specie basis any danger which might other
wise exist of disturbance of monetary affairs on this
SIDE in sympathy with such condition OF things
abroad. The influences formerly exer.ed upon the
money market here by foreign financial and commercial
news Of moment are confined to gold and foreign
exchange and all arrangement outside Of these due to
moral and not to material There is. conse-
quenty nothing the of the advices from Europe
excite alarm dstrust except far they may in
dictate return of securities and the more OF these
that sont back to the higher gold and exchange
will of go but we have not improbably
already received the worst news growing out OF
The rupture unless 1t should eventuac
actual and prolonged hostilites In any event. how
ever there will be real cause for decline Of values
either the general markets or on the Stock Exchange
national gold bearing securities, perhaps excepted and
the latter will be strongly supported by the policy Of the
treasury.
AT early session of the open board New York Gen.
trail isales 400 shares) sold at 93T z, Erie 73X,
Hudson River no. Michigan Southern sales 1000 shares)
s3ys Cleveland and Pttsburg (sales 900 shares) 81
sS5s Cleveland and Toledo 1863, Rock Island 1925,
Northwestern salss 500 shares 29zS 30s, preferred
59k, Fort Wayne salcs ,100shares 99z, Ohio and Mis-
sisspp certificates 26z, Canton SIX, Cumberland 45,
Spruce Hill Coal so u, Mariposa preferred 90 At tho
first regular board the market very active and
firm. New York Central closed u higher than at the
half-past two board Hudson River ~ Reading u, Hi.
nois Central l, Northwestern preferred r. Cleveland
and Toledo 4, Rock Island X, Fort Wayne Il, Western
Union Telegraph IL. Michigan Southern 4 lower,
Cleveland and Pittsburg u, Marposa preferred r. Gov
ernment securities freely dealt in Coupon FIVE
twenties OF the 1852 issue higher 1854 issue h
seven thirty OF the FIRST and third series declined
~ second series u.
At the one O'Clock sessions the market dull and
fraction lower except for Rock Island under the
favorable European advices by the Nova Scoan report
ing continuance of the panic in the funds the Lon
don Stock Exchange. Fwe-twentes quoted on the
9Th inst at 671 x ex-dividend circumstance which
led to exaggerae the decline, which is slight as
the bonds would have been worth about 7OI, with
coupons included, against Tx * on the previous
date. This, however, leaves margin for profit upon
their importation of nearly eight per cent Neverthe
less the old ve-twentes here showed symptoms Of
weakness, and sales made high 1867 the
street after the receipt of the All descriptions Of
foreign securities were depressed, and Erie suffered o
further fall of TX per cent and illinois Central Of "a
the former being quoted SO II the 18th and the
latter at 1914 r. Consols, too heavy at S5Zs q
s6H-a wider quotation than is usually given, which
induces to believe that there not much change
them from the previous day. when they reported
as S6A q. Three failures the Stock Exchange in
consequence OF the general decline reported and the
extent TO which the shares Of large majority Of the
companies held had proved to be much greater than
supposed, and settling down Of these securities
into stronger hands looked for Later the advices
by the Africa reported further falling of in American
securities. Tive-twenties closed in London the 14th
At 81 67I Illinois Central 70 So Erie 52Js So Con.
soils were steady at s55s sos.
A. the haf-past two board the market was dull, but
steady at the decline New York Central closed Il
lower than at the first regular board Erie a. Reading
~ Michigan Southern q, Cleveland and Pittsburg Y,
Northwestern s. preferred e, Cleveland and Toledo r.
Ohio and Mississippi certificates q, Fort Wayne x, At
,antic Mail Z, Quicksilver r. Rock Island was Il
higher. Alton and Terre Haute, and Illinois Central
were unaltered Government securities firm, and
coupon hvetwen,les, of the 1862 issue advanced 4.
Al tho half-pas three open board the election OF MI
Hard 10 the Presidency for the ensuing year was an-
bounced. The markat ea-.i---s A-n .-.s--
New York Central sold at 925s, Erie 73 Reading 10s
Michigan Southern 50, Illinois Central 1908. After
wards the market closed dull, but steady and at half
past five New York Central quoted at easi q, Erie
72ys 70, Hudson River ITO bid, Reading l045s y,
Michigan Southern sch A, Cleveland and Pttsburg
s2k y, Rock Island 1855 q Y, Northwestern 29'E
y, preferred $50 4, Fort Wayne essi q. Ohio and
u
silver 52z So.
The money market remains easy to the Stock Ex.
change per cent and first class commercial paper
st sixty days rated at 6j and beyond that range
AT T. The Treasury policy favors prolonged monetary
ease and there is every probability that the Secretary
will soon that further temporary deposits
will be received by the sub Trcasurer that the
the outstanding per cent deposits will be reduced
to i've per cent. say after the 18th of next month.
This will have the effect Of throwing more
money than hitherto into Wall street, which viii of
be available for speculative The proposed
OF Mr. McCuoch in this respect is impcrativcly
called for in view Of the present condition OF the Trcasn
~ the IDLE balance in the Treasury here this evening
being nearly ninety Ave millions.
Thegod market strengthened under the European
The opening quotation was le71s. followed at by
advance 10 l2s subsequent relapse to 127ii aud final
TO 1917 12s the closing quotation at i've NJ
There brisk borrowing demand for coin for delivery
and the supply scarce loans being generally made
at 73e Z per per diem The payment of the May
coupons is expected 10 the market; but although
little more than twenty millions will he discussed
this account nearly half the will be due to
foreigners abroad and the supply In the banks has
low thar the remainder will be rapidly absorbed 10 re-
plenish reserves
The foreign exchange market was very Arm nj
advance, and the supply Of bills extremely limited.
Bankers bills England at sixty days closed at 10s1;
rhrcc days losk, commercial bills 1918 los, francs
at sixty days SIS 90 short sight 5.l7ts as15 The
decline Of ID, the equivalent Of four cents cotton
si Liverpool during the week ending the 1sth
inst, Is regarded favorable to diminished ship
ments at present. while the condition Of the
European market for American alike with other
ties predisposcs drawers TO calculate upon further
turn Of nvctwenes pending the settlement Of tho much
vexcd German question The following statement ind.
Gates the Of leading securities tho London
stock Exchange, together with the price OF consos
during the last four months and append the latest
quotations Cor gold known In Europe the
toned by which the extent OF the decline In the former
can he readily perceived
De-. ~ PA 10 Apr5 ~