The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-05-29
FINANCE AND COMMERCE
OFFICE OF THE EVENING TELEGRAPH,
Tuesday. NAV 20. 1866.

tuesday, May 70, 1866.
The Stock Market opened very duh this morn
ing, but prices continue steady. Government
bonds are the stlactiye on the LIST, at an ad-
vance. 5-2Os sold largely al 1924, an advance
of /; 1905 at 1923 for June, advance of 4; and
lO-4Os at 90, an advance of Il; 1884 was bid for
6s of 1881. In City loans there is very little
doing. The new issue sold at 974 slight de-
cline.
Railroad shares are dull. Catawissa preferred
sold at 49, a slight decline; and Pennsylvania
Railroad at 545054s, no change. l29 was bid
for Camden and Amboy; 80 for Little schuyl-
kill; 554 for Reading; 563 for Minehill 3s for
North Pennsylvania; Gig for Lehigh Valley; 27
for Elmra common; 43 for preferred do; 32b for
Philadelphia and Erie; and A for Northern
Central.
City Passenger Railroad shares are in fair de
mand. Hestonvllle sold at 20i 565 was bid for
Tenth and Eleventh; 32t for Thirteenth and
Fifteenth; 81 for Spruce and Pine; 20 for West
Philadelphia; 26i for Girard College; 128 for
Ridge Avenue; and S5 for Union.
In Canal shares there is noting doing. 27
was bid for Schuylkill Navigation common; s4t
for Preferred do; SO for Lehlgh Navigation; IlS
for Morris Canal preferred; 10 for Susquehanna
Canal; 534 for Delaware Division; and 67 for
Wyoming Valley Canal.s
Bank shares continue in good demand for in
yestment, and there is more doing. Philadel-
phia sold for l41; Farmers and Mechanics at
l23;a and Commercial at SO; l4O was bid for
First National; 80 for Northern Liberties; 29a
for Mechanics; 95 for Kensington 81 for Penn
Township; 50 for Girard; 30 for Manufac-
turers' and Mechanics; 624 for City; Al for
Consolidation; and 60 for Union.
The New York Herald this morning says:-
"There was complete return of monetary ease
felt early IN the day, and the rate for call loans was
gene rally lowered from seven to six per cent, and
all the new transactions at the latter rate The
Sub-Ieasury has been disDursng freely in the re-
demption of One-year Certificates and it's balance
this evening h reduced to sl04 244 868 or about four
millions less tndn at the close OF buslness Satur-
gay gay. me Dank statement shows Tess important
pers ons 10 suspect The deposits have decreased onV
S9 449o24, and the legal.tender notes S11 $50 160
WINE the loans have increased S2,279 130 the
specie So 14l,4 ,464, and the circulation 81 O3l O03
. The slight increase in the specie cOmpaIed Nth
the amount sold by the Government Is attributable
to the deliveries beng made gold notes or cerh.
Gates OF deposits, which some of the holders LODGE
likewise to the export Of $il s s4o % curing 1be tba
week from tins port and Bos on The statement
diuon of the money market, and the rate for call
loans is likely to be five per cent. with exceptions
at sIX, before the week is much further advanced.
"Ihe discount line IS fairY active, and hrst-class
paper is IN request at 6G7 per cent, the general
rate beng 81 but the volume of business IN thus de-
partment has never been very large since the paper
money non.specle payment era began, ard most
Of the so'called loans Of the banks mean invest
ments Temporary or otherwise in public securities
1t is stated that bill to amend the Ma
tional Currency act, prepared by the Controller,
will be introduced in the House this week. The
following is an abstract of it's provisions:-
1t authorizes the issue of 800 100000 of clrcuIa-
ton, IN addition to the $500 900 900 now provided
Tor, TO be secured in the same manner,
Not more Than $40 0O0 900 of the additional amount
II av Dc issued within six months from the passage
OF the act and not more than S4 900 900 within any
month thereafter. Existing State banks of good
standing which Apply for authority to become
1ecelye such authority, provided that such banks
IN states which have heretofore issued the
least ratable amount of circulating notes. shall have
preference in receiving such authority
The entire circulation allowed to State banks be.
coming National banks shall not exceed Sl5OO0,00D
In organizing new banks preference shall be given
to such States and Territories have heretofore
failed TO secure their ratable proportion of circu-
atng notes to so equaize the apportiOnment Of the
whole $400000,0O0.
Every National bank in New York, Boston and
Philadelphia shall keep on han an amount equal to
20 per cent of It's circulation and deposits an when
this reserve shall rail below 25 per cent? such bank
shall not increase ts liabilities bY new loans or dis
counts otherwise than by discountng or purchasing
dividend Of ITS proftsi but Clearing house certlh-
Gates, representing money deposited for Clearing
house purposes, may be deemed lawful money on
hand. II bank shall fail for 80 after notlf-
cation by the Controller, to make good its reserve
the Controller may appOnta receiver to wind up its
business.
PHILADELPHIA STOCK EXCHANGE SALES TO-DAY