The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-03-11
FINANCIAL AND COMMERCIAL.


SATURDAY March 1916 P. NJ
The stock market has quiet but firm to-day, and
In view of the efforts which have been made
break it during the week, il shows great deal OF
latent strength. .fI tt DIT itFI
At the early OF the open board the market was
dull Erie sales 700 shares sold at slzS 821 Michi-
gan Southern 1885, Cleveland and Pittsburg 75Z, Rock
Island lo76 Northwestern 25K, preferred 52,< Fort
Wayne sex, New York Central e. 81 81, schuylkn Coal
10 At the FIRST regular board prices fraction
lower, except for New York Central, which closed
y higher than at the half-past two board
yesterday, and Hudson River a. Erie was
Y lower, Reading x, Michigan Southern q,
Cleveland and Pttsburg u, Northwestern z, preferred
"a Rock Island Is Fort Wayne a, Quicksilver 4, Cum
beriand *. State stocks active Missouri skies
declined "a Tennessee sixes advanced 1. Govern
ment securities were duh and rather heavy. Coupon
nvetwentes OF the old declined u, second issue
n, seven thirty notes OF the second series Il.
At the one ocock session the market was nrmer ex-
cspt for Erie which was steady Michigan Southern
was active at 1877. Mariposa sold at l1A, preferred
Tx At the half past two board the market remained
nrm but dull New York Central closed & higher than
at the regular board Cleveland and Pittsburg Il,
Northwestern a. Fort Wayne II, Erie and Michigan South
were steady Cumberland was u lower. Missouri
skies submitted 10 further decline OF Y. Government
y. thirty notes OF the second and third series
improved r.
At the open boani at half-past three there
teria change in tn. speculative temper but the market
WINS hrmer. Kew York Central sold at ok 9lM, Erie
s2i4 S2ss Reao'ng vs. Michigan Southern 1917, North
western 254 Is 81 preferred 52, Cleveland and Pitts
burg TO- 81 75A 75,, Rock Island 1919, Cleveland and
Toledo 1874 Cumberland Coal 424 Marposa preferred
Is. 81 174. Afterwards the market closed firm. AT
quarter past Ave o'clock Erie was quoted s21s s2
Reading 975s 90, Mich gan Southern 1871 "a Ceve-
land and Pttsburg 751S, Northwestern 254 preferred
t2x 52A, Rock Island 1919 a1O7si Fort Wayne 500
90
The ''bull' element on tho Stock Exchange ts gradu
ally gaining strength, and the prospect fvors higher
prices The leading operator in Erie has during the last
two days been selling puts" OF the stock to cover the
whole Of next week, at 81 49, which shows the drec
ton in which the wind blows The eccentric movements
or this stock have led to the suspension weak
parties
The money market shows increasing ease and the sup
ply Of capital available for employment Stock Ex
change Is in OF the demand seven per cent
with exceptions at six The discount line reflects by
suggshness the prevailing dullness all departments
of trade. The decline OF the gold premium has
exerted decidedly adverse effect upon in
forests and by max ing intending buyers defer opera
tons it has induced stagnaon where activity would 9th
have been experienced The SubTreasury far
flooded the market with coin three weeks that
the effect is still being felt We that the
in it's recent sales had intention OF depressing
the premium to its present low point, know
ing that every abrupt decline OF this Kind
be only temporary and is attended with
peril TO the national and tho great
commercial interests of the country the prosperity OF
which is essential to the maintenance Of the public
But the government by selling much gold it did a
little than fortnight ago. converted the whole
Gold into bear garden and since that time the
spectators in 1t have been making fortunes at the ex
pense of the general weliare for it cannot be for
moment commended that sudden depression
Of the premium, any more than sudden
advance Of it, can he anything but inurous The great
evil OF deprecated currency lies its instability oil
value and every material uctuaon In the price OF gold
aggravates the danger OF such currency. What The
trade of the country require is stable
standard OF value nearly stable al
possible The Treasury therefore, by causing
unnecessary degree OF instability in the value
Of our paper money has assumed grave rcspons'
b,b,v and this $780,. .--'s~a'--iy The caas
of tho fact that Of Congress provides TO
The diversion Of surplus gold the creation of
sinking fund for the gradual reduction OF the national
debt.
tOlu opened Win some excitement 10 sell at 1.Oia
and. after touching 13o advanced rcguarIy for
cash, and closed at 1919 1914, regular The supply
Of coin for delivery is daily becoming percepiihy
and interest has to be paid for tho loan
The steamer Hermann took out $40 1856 in gold
The export, thus far this year, has been S. 1871 as5
nearly million than for the corresponding
period last year.
Foreign exchange has been duh usual the last
day OF the week Leading drawers ask for sterling
At sixty days, but the best bills purchasable los
Commercial bills in very limited supply and rated
1917 1881; bankers at short sight lo9a ITO Bills
on Antwerp are rs a 5 20 Hamburg $50 a 36,, Am.
sterdam 40x u, Frankfort 4oH u, Bremen 7sa q.
Prussian thalers II. The are likely b come
nrmer rather than the reverse under the influence Of the
large importstions taking place.
The business at the subTreasury to-day az fol.
tlb2V Oll
Lyhuhts... l1COvsl
naahNe.' b l1NblO
TOT ............................ $50 900
On account OF government loan ........... IL 900
Coih certicatcs .......,................ SIS 900
The following stocks sold to-day at auction by