The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-04
FINANCIAL AND COMMERCIAL.


SATURDAY Feb S-6P.M
Tina stook market opened with an improving tendency
ths morning and early session of the public board
Il WAS rm at the following quotations:-New York Cpn
trail 49, Erie Tx Michigan Southern 69h, Cleveland and
Pttsburg s2x Northwestern preferred Sax, schuylki
Coal 1917 At the first regular board prices higher
and confident although buoyant speculative feeling
prevailed Erie closed ~ higher than at the half past
two board yesterday, Reading u, Michigan Southern n
Cleveland and Ptsburg y, Northwestern Il, preferred
r. Rock Island l, Fort Wayne 4, Chicago and Alton
Government securities firm. Coupon fve-twentes
of the old issue Advanced u tenforties T. seven-thrty
notes were unaltered.
At the open board at O'Clock prices were y y
lower but the market steady the decline At the
hapast two board 1t became heavy the bear movement
in Erie making the weakest stock the list is
understood to have been hammered by parties largely
hor Of other stocks with the view Of depressing the
entire market sympatheticay. Erie closed per cent
lower than the first regular board New York Central
y, Reading u, Michigan Southern Y, Northwestern r.
preferred Y, Rock Island ~ Fort Wayne Il. Govern
ment securities continued firm Coupon hvetwentes Of
the third issue advanced 4, skies Of 1881 u. Pacific
Mail sold at 1856.
At the haf-past three open board the market expe-
rienced further Weakening and Erie was hammered to
1917 New York Central closed at s7h, Michigan South
6SS Cleveland and Pttsburg 82H, Rock Island 99H,
Northwestern 27K preferred e. 81 54H, Fort Wayne
e2K Afterwards feverish state OF feeling kept the
market unsettled At five O'Clock Michigan Southern
was quoted at 6Sx Cleveland and Ptsburg 49, North
western 27K u, preferred 64H Erie Tx, New York
Central SIX, Rock Island 99,l, Fort Wayne % u.
Speculation Is held in suspense the Stock Exchange
owing doubts and fears regarding the future policy the
and the prodactiveness Of railway property
There considerable latent strength the bull side
of the Market but the bulls ntimdated by the bears
from operating boldly, and resolue speculative spirit
has not manifested itself thus far in the year. The
stock market is ripe for rise, and, provided
the necessary elements at command are brought
into play there will be an active upward
movement for which the large outstanding 'short in
presents good basis The money market Is
tremeiy easy, and likely to remain Call loans are
made freely at per cent, and that made
at four per cent on governments have not yet been
called in, while there seventytwo millions tempo
rary deposit the ubTreasury. Under these circum-
strong incentives rally from the recent un-
expected and large extent causeless depression are
held out.
The gold market Weakened from 140H at the opening
TO 1897 at the close Of business Notwithstanding
were made at to 3l6 per cent till Monday. The ship
ment Of specie by this days steamers aggregate 1901 9O
Of which the Germania took 1852 900 and the City of
Boston $13s, 9o7, making 1868 for the week. The
demand for coin for customs duties has been heavy during
the week, the aggregate being 81, 392, 900.
Foreign exchange continues weak. Bankers bills on
England at sixty days quoted at los, short sight
1os14 x, commercial 10sH 1917, Southern cotton
bills l07 The imports heavy the gold value of those
for the week ending February being 81 573 These
If prolonged at their present rate will than
act the effect Of the exports Of cotton and other pro-
ducts The total exports according TO the last weekly
returns, only So 40 470 in currency little more
than third Of the real value of the exports
Petroleum stocks firm. At the first board Benne-
hof and Phole closed CSC. higher than at the same
time yesterday, selling at 81 so; Oil Creek &c., selling
at 81 CO. Second National sold at So 49, Palmer Petro
teum So IS venango Pithoe SO rs, West Virginia Coal
and OIL l3c., BennehoF Run $18 co. Brevoort SIS 80,
First National 47c., New York. Philadelphia aud Bat-
more 85c., Pithoe Creek So 10, Shade River 81 IS,
United states SIS TO- Waikiki 0oc. and Columbian Coal
and Mining 81 10.
The mportatons OF dry goods at this port during the
week ending FEBRUARY compare follows with those
Of the previous week.