The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-04-17
FINANCE AND COMMERCE.
OFFICE OF THE EVENING TEL IpsRAPH,
Tuesday, April II. 1860.


The Stock Market was dull but steady this
morning. Reading Railroad was the most ac-
tive on the list, with sales at from 52@52I, the
latter rate a slight advance; North Pennsyl-
vania at 39i6994, an advance OF Ia; Lehieh Val
ley at 6l}@6ls no change; Catawissa preferred
at 9Ol@3O1, decline OF /; and Philadelphia and
Erie at 32B@33B the latter rate slight advance.
117B was bid for Camden and Amboy; SO for
Pennsylvania Railroad; % for Little Schuylkin;
So for Noristown; 80 for Elmira common; 80
for Catawissa common; and 458 for Northern
Central
In Government bonds there was very little
doing. 7'SOs sold at lOl. IO44 was bid for 5-2Os;
1045 for 6s of 1881; and 924 for l0-40s State and
City loans are in fair demand. Pennsylvania IS
sold at sG@s7; New City 6s at 92l; and old do
at ss.
City Passenger Railroad shares continue dull.
Thirteenth and Fifteenth sold at l95; 7O5 was bid
for Second and Third; 81 for Tenth and Ele-
venth; "a for Spruce and Pine; 6s tor West
Philadelphia; 80 for Hestonville; and 25l for
Girard College.
Bank shares continue in demand, but we hear
of no sales 2O6 was bid for North Americas;
40 for Philadelphia 125 for Farmers and
Mechanics; 80 for Northern Liberties; 29E for
Mechanics; l0l for Kensington; SO for Penn
Township; 543 for Girard; so for Manufacturers'
and Mechanics; 90 for City; 40 for Consolida-
tion; SO for Commonwealth; 62 for Corn Ex-
change; and 81 for Union.
Canal shares are firmly held. Susquehanna
Canal sold at 15, no change; Delaware Division
at so, no change; and Schuylkill Navigation
common at 232, an advance of &; 3l3 was bid for
Schuylkill Navigation preferred 543 for Lehigh
Navlgation and ll5 for Morris Canal preferred.
Oil shares are very dull. Ocean sold at 81.
The New York Tribune this morning says:-
"Call loans are offered in great abundance at 8
per cent, and lower rates would be accepted
from leading houses. Best commercial paper
sells at 61097 per cent; good at 500; and or
dinary at l001l5 per cent The bank statement
shows a further large gain in deposits, legal
tenders, and circulation, with moderate loss
OF coin, and small addition to the loans aud
discounts. 1t is long time since money was
so cheap and abundant. In ordinary times a
general speculative movement in stocks for an
advance would be inaugurated, but thus far no
symptoms of general speculation are noticed.
'It is understood that the Treasury Depart
ment has q funding scheme under consideration,
and will soon commence operations. 1t is to be
hoped that the Secretary will not repeat the
mistakes OF his predecessor, and break down, by
Offering too low rate of interest and too short
bonds Six per cent. is not high rate to pay,
and the Secretary should not fail of funding his
temporary loans, certificates of indebtedness,
and compound notes, by reserying the option OF
paying off six per cent. bonds after five, ten, or
twenty years even. The Secretar will do his
duty if he succeeds, during his term of Office. in
funding the debt into long six per cents, and re-
tires enough debt to comply with the law, es-
tablshing sinking fund reas sonaby.
"Foreign Exchange is more active and lead
ing sterling is quoted lO73@lO73 for so days,
and Francs, 5'25; Commercial Sterling, 1861
@Dl07."
The total circulation OF the National Banks
of Boston on April 2, as officially reported by
the Massachusetts, Secretary of State, amounted
to 1858, sos. The circulation OF the National
Banks in the State, out OF Boston, and in South
Boston, at the same period, was $4,000, 769.
PHILADELPHIA STOCK EXCHANGE SALES TO-DAY
Reported by De Haven bro. No. 40 s. Third street