The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-18

q
FINANCIAL AND CONNER CiAL.
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~-r sxruapAY, Feb. '17-6 r n
Tho stock market shows Increasing strength and
tivty, and the Indications favor considerable further
recovery nom prolonged depression. The
yiys of speculative feeling based IL upon the sub.
sssntIa ground of large and improving earnings d at
tracing outside influences in lie support The majority
Of business mon Of speculative turn q mind and
as anxious take "nyer Tn stocks in wheat hides
pork molassss, whenever favorable opportunity,
they consider presents ITSELF These mon seldom or
willing TO sell 'short but they viii buy on rslns
market othen, again, who have money unemployed,
seeing that tho stock market Ia nrm make speculative
investment which they would be deferred from doing II
was dropping or unsettled There are, at the same
time always more purchaser for long Investment
on rising than failing market and general feeling
OF hopefulness prevails among the holders Of Ill descrp
tions Of securitiea NN
Al the early session Of the open board this morning
the chief activity confined to Michigan Southern
tsaies 500 shars and Erie (sales 1000 shares The
former sold at II 4 and the latter at g. Reading 1olx,
Cleveland and Pittsburs slx Rock Island loo North
western 2sx New York Central soX At the Arst regu
scsIvy in New York Central Erie and Atlantic Mail
The latter closed nve per cont higher than 1t the half
past two board yesterday, Now YORK Central N
Hudson River Reading and Rock Island were
steady. Erie was e lower, Michigan south-
egn ~ Cleveland and Pittsburg e. North
western y, preferred Il, Fort Wayne " Cumberland X
Quicksilver " Chicago and Alton ~. Tho later COM
psny has declared semi annual cash dividend Of i've
per cent and scrip dividend Of nifty per cent subject
10 future assessment OF thirty per cent This Affects
equally the common and preferred stock. Government
SOC urtes rm Coupon skies Of 1881 advanced 4,
seven-thrty notes Of the FIRST and second series u.
At the O'Clock sessions the market steady and
at the half past two board strong, Fort Wayne being
then the active Of the railway shares New York
Central closed q higher than at the first regular board
Reading u, Michigan Southern Il, Fort Wayne Y,
Chicago and Alton 1x, preferred Z, Atlantic Mail l.
Erie was y lower Alton and Terre Haute Y, Cumber-
land u, Quicksilver y. Government securities we're
lower Co pom ve-twenties Of the old issue declined u
second issue 4, third Issue u.
At the half past three open board the market was
steady, with continued activity In New York Central
which sold s21 Erie closed at s1ss, Reading l0lX,
Michigan Southern Tx, Cleveland and Pittsburg s1,
Rock Island Is 8, log, Toledo and Wabash 49, North
western 20, preferred 66 Fort Wayne 96H Afterwards
tho market firm, and at half past Ave New York Cen
trail was quoted at e2z o. Erie 81 ~ Hudson River
l04k y, Reading 1917 102 Michigan Southern 7lh
q, Cleveland and Ptsburg SIX, Rock Island 100 n
Northwestern 20 u, preferred 5ek ~ Fort Wayne
o5H, Ohio and Mississippi certificates 2eX.
The money market continues very easy, and the ma
jory Of call loans have been made 1--WE per cent to-
day among The brokers' but the regular outside rate is g.
The discount line is dull and FIRST GLASS commercial paper
passes at seven per cent
Gold has been steady, and loans were made atla6
por cent in favor Of the lender Of the COIN The opening
prico was137k, followed by decline Of Y and subse-
Quent recovery TO BLYTHE closing quotation. The
port Of gold by tho days steamers aggregated $195
Of which the Fulton took out $5o2oO and the City Of
Washington s145. 3o5, making for the week $1o7 1885,
Foreign exchange is firm, and although bankers bills
at sixty days England quoted nominally at 1os
loading drawers decline selling at this rate. Short sight
bills are rated at looK X, commercial 1o7k q y,
documentary lcotton) LOG a lo7, francs dong date)
ST. 22Xc .25c. short date SEl5o 5f17Kc The i'm
port movement M this port for tho past week has been
very heavy, while tho exports comparatively light
Tho gold value Of the imports aggregated o. 2e5
and the currency value Of the exports exclusive Of
spoce) $a777267 This condition Of trade must largely
offset the OBJECT Of tho cotton shipments from Southern
ports.
The English advices by the City Of London although
they report change In tho price Of nvetwencs and
respect to the condition Of the British money market
Consols had declined TO se lower point than has been
touched since the Crimean war, and there ap
prehension felt Of panic In the fundA In Wall street.
however, this exerted NO sinnusacs and gold,
that sensitive barometer gave no indication OF
Tho ,slightsst perturbation. 30 far - our own
monsy market b concerned, British Monetary alArs
entirely powcrless 70 affect Il as they formerly did,
for The reason that our currency longer based upon
specie; and, transact business with Europe
sciely IN specie s equivalent In produce the crcua
ton y beyond disturbance from any foreign financial
Gold, exchange and to extent the produce
and foreign merchandise markets could alone be In.
nusncsd BY monetary strinsency or panic abroad.
Thsss no good reasons yst however, for appre
hendng tho atter In England and her foreign exchanges
are turning In her favor, which will gradually
bring about an easier state Of things.
Petroisum stocks active and nrm Mining shares
were steady At tho st board Benton closed CSC lower
thss b tho second board yesterday, selling ss q 2s
Quartz Hi 500, selling 81 % 50; Smith and PArmlec
was 40 higher, selling OF 31a. Palmer Petroleum sold
as ~ o6, Pithoe Consolidated %. Bliven - o. Brook
Ign soo, Central % IS, Ham McClintocA - 50, OH
Creek - co. First National lSc., Pithoe Creek ell TO-
Shade River 81 90, United Pot Farms 2oc Hard Run
81 co. United States siI ounnell Gold 81 rs, Gunnell
Central 81 So waikiki 81 90 Columbian Coal and MIN
ing, % 10, Copaks Iron 100
The business The Sub Treasury to-day was - fol-
icws.-
Total receipts. 90, 1871 $50
Payments. lxeS 100
beance 70, 1870
On occount of government loan. ............ 1850
Coin certtncnses ISSo00
me foowing table shows the oIsArnss and balances
u hs Clearing House In Chicago during NE week ending
FsPsypfy 10 1900
w. CTeayjnos Balances
FebruSry s......,......S1,3E63 S e112,os6
February e................ $50, 7s2 1is,0l7
February 7...............s soalH 1s176o
February s-....-.-"... sstoe2 is3I!2