The New York herald., 1866-05-20
FINANCIAL AND COMMERCIAL

although business Saturday is manly confined to the
forenoon there well distributed volume of busi-
at improving prices. AT the early session OF the
open board New York Central sold at 9i2l 95 Erie b
81 Ti%, Hudson River 1924 aiding 1878 Michigan
Southern 79I, Illinois Central 1201, Cleveland and To-
ledo 1861 a, Cleveland and Ptsburg s5A S. North
western 2eS-preferred 597S y, Fort Wayne 9sx
Quicksilver 531s, Marposa preferred 22l. At the
first regular board the market was steady Hudson
River, Michigan southern and Milwaukee and St. Panl
preferred being the most buoyant of the railway shares
New York Central closed higher than at the half past
two board yesterday Erie u Hudson River III Reading
" Michigan Southern u. Northwestern S-preferred ss
Cleveland and Toledo l, Milwaukee and St. Paul pre-
feSred ~, Cumberland a. Ohio and Mississippi cert
fcates 1s, Canton u. Cleveland and Pttsburg y
lower, Quicksilver l, Western Union Telegraph u
Government securities dull and steady excepting
coupon hvetwenties of the third issue, which ad-
vanced q.
At the open board at o'clock the market was firm
New York Central 946, Eric 7414, Hudson River
ll3K, Reading 1878 Michigan Southern sO,s, Cleve-
land and Pittsburg s5's, Cleveland and Toledo
1854 Rock Island 93x, Northwestern 29h-
preferred (b- 81 594, Fort Wayne 9s& Ohio and
Mississippi certificates 2sls, Canton 6ls. Cumberland
4ea4. Quicksilver 52,S, Marposa preferred 22 After
wards the Market except for Erie, steady but dull
and at halfpast four New York Central quoted
944 u, Ere 1884 q, Hudson River ll3ss bid, Read
ing l075s Z, Michigan Southern 1915 so, Cleveland
and Pittsburg s55S, Cleveland aud Toledo 1867 a. =,
Rock Island 93Z 94, Northwestern 2914 H-prefered
5s1s SO. Fort Wayne 9s1s 90, Ohio and Mississippi
certificates 2sh ~ Canton 81 81, Cumberland 49,
~, Quicksilver 634 asa
The money market continues TO show little more
nrmness bu. the supply OF capital Is in of the
demand at per cent mixed coaterals and AK
NIL
the absorption of currency by the Treasury in pay
ment for the gold sold government account during
the week. which is supposed to aggregated nearly
eight millions up to last evening The discount line is
easy, and first class commercial paper taken at
per cent.
The gold market remains steady at 100 q, notwth-
standing the largest shipment Of specie record from
this port in sing day in a single week has been
made the total for the present week being S. 295
Of which s. S73 500 sent by this days steamers
namely, by the City of Paris So TOO oo0 by the Ma
poeon Ill s624 ooo by the Pennsylvania sI55, 900,
by the New York 1896 OOO by the Germania
50, 600 and by the City Of Limerick $55 900.
This large export of coin will be source
Of surprise to the British financial community,
because somewhat unexpected It has been predicted
by than Of the London journals that when the
OF the disturbed condition Of monetary and public
affairs in Europe reached this country sympathetic
panic would be produced and that should find 1t diff
cult meet the drafts upon from foreign credit
How correct these predictions we have
Not only has there been no approach to panic IN any OF
the markets here but the drain OF gold has been freely
met, and probably much than called for has
been shipped partly because 1t is considered cheap at
the current price, and partly from disposition among
parties in New York TO make the position Of their
spondents abroad easy possible The effect Of our
ndene and probably put back the Bank OF England rate
of discount to six per cent
The policy Of the Treasury In sacrificing 80 much
Of its gold to keep premium from rising above 100
is very questionable as in the event OF anything
like the present drain TO Europe continuing,
its supply would be far exhausted that II would
lose control Of the market and spectators would be
ready to take all the government had 10 SELL They
would the time be aided by that disrust Of
higher premium which would seize upon importers and
others having occasion to buy gold and hence tho pre-
MUM would rise all the higher In consequence OF the
government having exhausted its supply. BY keep.
ing the price low, In the face Of the
large demand for shipment, the Treasury puts
a premium upon It's export; for the foreign
bankers are not slow to buy and ship it with a
view to drawing against 1t at higher figures Unless
therefore, the foreign should take favor
able turn4s affecting exchanges the government Is
likely find that 1t made mistake in commencing thus
early to assume control Of the market Had the Trea
sury done the export Of specie this week would
probably have been much smaller.
Co loans we're made 364ths in favor OF the lender
early in the day, then per cent paid for carry
ing and at the clssc transactions made without
interest
Foreign exchange was firm bu, inactive a, 1925 u
for bankers bills on England at sixty days.
frrn and .rftv.
At the rst board Bennehon Run Oh closed ioc higher
than at the same time yesterday, selling at So 55. Ben
nehon Run &c. selling at $13 Altona &C., selling at
81 10; Benton Sc, selling at 81 S. Central was loc.
lower, selling at 81 Is; Ada Emore l5c, selling at
81 TO- Consolidated Gregory Gold s5c selling at s2 o5
Smith and Pameee SC, selling at 50 So Bradley sodat
I0c., Electric Oil 81 s0 New York and Newark 20c.,
Oceanic IOc., United Petroleum Farms 24c Buchanan
Farm 4oc First National ioc., New York and Allegheny
g. Shade River 4oc., Cherry Run 2oc., Atlantic and
Pacific s5 10, Dow Neville Gold 42c., Gunnell Gold Doc,
Kipp and Buell. 81 20, New YORK Gold 33c, Hope Gold
81 so, British American Preferred Coal 81 40.
Notwithstanding the reported agreement between the
Governor and Attorney General OF this state and the
New York depuiaton Of brokers' that should be
prepared to test the constitutiona,y Of the tax
ceuy imposed by the Legislature upon brokers and suc
toneers sales Of foreign goods and domestic spirits,
pending which the execution OF the act should be sus-
pended following circular has been sent 70 those
| liable to the tax under the law 80.
orncr ov THE corr1noiLrS o. Ssw Yorx,
asy T. 1895
Sn-Incosed you will reeeivsa certified copy Of an
amend chapter 62 OF the Laws OF ls46 and acts
additional 10 the same passed April Ia 1895 You afe
respectfully Informed that ] have been appointed by
the Hon Thomas Hihouse Comptroller Of the State Of
New York, hs agent under said net for tho territory
cuded IN ihe Metropolitan Police District and can be
found i my ofce A. above, from ten I'LL three O'Clock
daily Auctioncers and brokers will please observe the
reourcmenta Of the law aud early compliance with
provisions IL requested Blank forms of bonds will be
! furnished upon application. Very respectfully your
| obedicnt servant, LEIGH
The following table shows the capital and par value OF
| the stocks Of the banks Of tho city