The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-03-19
FINANCIAL AND CONNER GAL.
SUNDAY, March Is, 1861

",
AthsusA gsnorss business throughout the country
e2funalE dull for this season OF the year. .hefe "
omr activity in Wall street. The past week has wit
49, further revival Of speculative interest the
Sx Exchange and railway shares In particular have
&ovH strong upward tendency. or these Michigan
huthern and New York Central have been the most
kdoyant and at the close there was spirited de-
Es6d for Cleveland ana Pittsburg At 7s< y, based
4 10 understood, upon matters conclusive 70 the
Sdvantage a the road, to be considered al
SAs meeting Of the Fort Wayne Company TO
bs held Shis week The fact that ts surplus earnings
spr tho Year ending December 81 1855, after allowing
S6s6,seS for the payment Of interest and dividends
amounted 70 $29s os7. according TO the official report
u the limo feature which eners into inc oacaa'
lions q buye The demand Michigan Southern has
bean very sc4ive and mainly speculative In anticipation
Of eight per cent dividends In future, based upon the
current earnings and tho largo surplus Of tho COM
6Gny available for the common stock holders no'wn-
andng tho diversion from them Of seven hundred and
y thousand dollars of the receipts OF last year The
ttok closed strong on Saturday at 1871 u. New
RoRk Central attracted unusual attention, and
No transactions In were very large In view OF the
possible passage OF the bill before the Legislature at
Albany removing the restriction Of the companys rate
FOR passenger fares to two cents per mile and allowing
scale Of from three cents per mile according TO
the travelling Speed tho rate 70 DO TWO Genus "heh tho
speed docs exceed twenty miles per hour and three
xhsn II Is thirty miles Hudson River, Rock
Island and Reading also active and the ascend
ant The entire market closed strong and at balf-past
nvo yesterday afternoon New York Central quoted
>. o. u, Erie s2k y, Hudson River 1oo Il, Read
Ing 1904 Il, Rock Island 1854 u, Northwestern
efx " preferred SAX II, Fort Wayne 92H u,
aiarposa preferred 1sh u, Cumberland Az a u
Government securities throughout firm, but only
moderately active The conservative tendencies of Con-
gress indicated by Mr. Sherman's bill IN the Senate
providing against the reduction Of the legal tender notes
and fractional currency below $i20 900 during the
one year In which tho shall be in force also the
proposition of Mr. Morrill, virtually killing the foreign
loan clause the McCuoch Finance bill introduced by
him. and the subsequent defeat Of the III itself, have
sxerted a roassurng effect upon the public mind, and
confidence In values is improving accordingly. The
advance in the per bonds about Il per cent
during the week. Scven-thirty notes in demand
Is q temporary investment for unemployed capital and
tho first series sold at par.
The gold market continues heavy, and the expectation
OF speedy recovery Of the premium from tho tempo
ray depression caused by excessive sales by the
has therefore not yet been realized There was
brisk borrowing demand from the bears, which gen.
orally met at per cent in favor OF the lender; but
Saturday afternoon cent was paid for having
It carried and the price weakened at the close l29N
she low rates for bills Of exchange England and the
rumor Of the Morrill, McCuoch Loan bill being
sdered in tho House Of Representatives on Monday,
being used as capital by the bears for further hammer
ting Of the market The demand for customs duties
aggregated for the week 81 464 $50 and tho exports
e236, 8T1 The range Of the market was rs follows