The New York herald., 1866-04-19
FINANCIAL AND CONNER clAL.
WEDNESDAY, April ls-s.P. N.

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WEDNESDAY April 1872. n
The stock market has been nrm, but rather sluggish
to-day Tho speculative feeling is, however, almost
entirely In favor Of RISE and confidence in the value
OF railway property Is increasing The miscellaneous
shares tend upward. but their movement Is somewhat
irregular There Is undertone Of strength TO the
government Stocks but these not actively dealt in
partly In consequence Of their heterogeneous character
which renders them mystery to the majority OF the
public outside Of Wall street. What our national debt
stands most in need Of is consolidation and unity All
the securities of the government ought be funded As
the option accrues the Treasury, into perpetual
annuity, bearing not than I've cent interest,
and Congress should legsate with view TO this result
which, when accomplished will give US stock like the
British consols in kind This would constitute sort OF
barometer Of the times and while taking rank with the
leading public securities Of the world, II would be n
active demand both for investment and on speculative
account As 1t Is, our debt is huge specimen OF
lnoongruous patchwork, showing the moons sstences
and indeneness Of purpose Of the hnancers and legs
iaton who put It into q shape 90 execrabe and un-
scientific lN H' rn
At the early session Of the open board Erie sold at
Is a7lX Reading 1859 a. 81. Michigan Northern o. 81
s9X, Cleveland and Pittsburg Sl, Northwestern 2oX
preferred 5eh Fort Wayne alK, Quicksilver 5lh 50,
Spruce Hill Coal 6X. A. the nrst regular board the
market was quiet New York csntra, closed Il higher
than at the haf-past two board yesterday, Erie ";
Michigan Southern 4, Northwestern preferred n, Rock
Island Fort Wayne y, Chicago and Alton u. Cleveland
and Pittsburg and Atlantic Mail were steady Cleveland
and Toledo was X, lower Western Union Telegraph "
Quicksilver 4. Government securities were Arm Cou
pom tenforties advanced Il. Seven thirty notes
NnaItered. -aatl4 eit l.t- .s.f 81 20
At tho one O'Clock sessions the marke. was
steady. At the half past two board 1t slug
sish, but nrm. Northwestern preferred closed "a
higher than the first regular board. Cleveland and
Toledo Ia, Fort Wayne y, Quicksilver 1si. Ohio and
Mississ ppi certificates y. New York Central was H
lover. Erie u, Michigan Southern u, Cumberland "a
Cleveland and Pi,tsburg and Rock Island steady
The latter company Is understood to have settled with
Che second mortgage bondholdcrs of the Mississippi and
Missouri Railway the basis OF As per cent in cash.
With view 10 the final purchase Of that line. and tho
first instalment on account Of the pah to
committee representing the bondhoders oday. Govern
ment securities were hrm Coupon ten forties advanced
u, sevenhry notes Of the first and second series e.
Al half past three open board New York Central
sold at 93h Eric 743S Reading 1884, Michigan Southern
o. 81 1917, Cleveland and Pittsburg sl Cleveland and
Toledo TO-. Northwestern FIX, preferred 57H, Fort
Wayne s2k4 Spruce Hill Coal o. Quicksilver 52h, Mari
posa preferred 23's. Afterwards Hudson River was
actyo and TO 1857 1o0 under tn, publication of
the March earnings Of the road which show increase
Of $7else those of the corresponding month last
year. $500 s08 against $424 oi7 Cleveland Pitts
burg was slightly depressed by the report of Its March
earnings, which show decrease In the regular
traffic, compared with the month In
1885, of $i3lA At half-past Ave the market
closed dull but steady at the following quota
tions;-Erie TAX 4, Hudson River l0sa, Reading
1875 y, Michigan Southern 7sa so, Cleveland and
Pttsburg s0x 81, Northwestern 27k AZ preferred
~ " IA
ells, For. Wayne s1b %. Canton SO y, Ohio and
Mississippi certificates 20 q y, Mariposa preferred
2sXsk. .H '1H
The supply OF money continues In of the
3uire Of the Stock Exchange at Ave per cent with
exceptional transactions in governments 4a4s First
class commercial paper 10 discounted at per cent
apa tbs second grade st7x a8K
Gold opened strong at 12sx, with very active de-
uAnd for loans from the bears at Is per per
dem. As the day advanced the market strength ned
and the for loans 70 9-sc with great dinculty
In borrowing at this nsure. The consequence
that number Of persons deauted In making their de-
iiverea The price advanced steadily TO 1875, and
closed l27I " The rate paid for loans does not
fully indicate tho dsproporton between the supply and
she demand tho difference between cash and regular
In the room was at ono time y y per cent.
The fore gn exchange market was nrm but with q
light volume Of transactions. Bankers bills England
o. sixty days were quoted 81 1914 lDS three days
losx l0o commercial 1o8iI loIS; bills Paris ..
stxiy days ST. 200 5f 25c short sight 81 175Sc.
g. zoe Importers have been detering remittances 70
foregu creditors much possible for consider
able time past, owing to the duness Of trade and the
consequent difficulty Of relieving themselves prontaby
Of the heavy stocks OF goods which have been
lifting their hands Meanwhile the import movement
has large and the Indebtedness Of merchants
20 Europe has been steadily Increasing until ii con-
stttes important aggregate the liquidation OF which
will involve demand for bills probably equal to tho
supply at or above current rates for weeks 70
Petroleum and mining stocks we're dull AT the first
board Ptho Creek closed &C. higher than at the
time terday and United States Sc Smith Parmlee
was Csc. lower At tho second board Central closed Sc
higher selling at 81 TO- Quartz Hill Sc, selling at 81 95
Smith Parmlec l0c, selling st 80 TO- United states
2oc lower selling at 50 rs; Consolidated Gregory
Gold Csc, selling $40 25; Kpp Buell. 1oc., selling
at So 20 Pnhoc Creek sold at 50 e5, Benton ~ Is,
Holman Gold doc, Liberty 25c.
Tho business at the Sub. Treasury to-day fol-
lows H -.
fetal receipts .s2ssl 4os
Payments. l,'A0 J3z
Balance. zo., lol
For customs. ....................-. 0o0OW
On account 81 government loan. n........... $50 600
Gold ccrthcies. .............,... l,l5'Oo0
New York stock Exchange.
wEpSEsD,y, April II, 1sea
riRsr sxssroS-l0;30 A. ".
n -. g. IlNAuN