The New York herald., 1866-05-09
FINANCIAL AND CONNER cIAL.
TUESDAY,, N ay SO p. M


no material change in prices to record The money,
hke the stock market is sluggish, and looks as II the
bulls we're waiting for the bears to sell short prepara-
tory 10 advancing rapidly upon them by what In military
puiance might be termed a Hank movement There is
NO lack OF confidence in the stability OF values,
the continuance OF monetary ease ana higher
quotations, but something Of the calm OF the
dawn prevails There is speculative lull
which may quickly be succeeded by period OF active
business and renewed excitement Holders Of stocks
are confident and those who would sell 'short" II they
did anything worth mentioning, are dstrustful and
afraid to venture upon sulen tide II there is fol
the moment but little speculation in the eyes of thoss
who can influence the Stock Exchange there
are no anxious lines to mark the dread OF
threatened contingency. The market can hardly
rest long in this unruffled mood while so many
incentives to activity lie siumbering beneath it, and
while all around the prospect Is bright and cheering
With such undertone OF frmness presents and
this based upon legitimate and substantial the
future OF prices is indeed clear and the balloon must
soon soar higher in the financial sky
The Western railways attracting the attention OF
investors owing to their increased gainngs and Fort
Wayne in particular. The receipts Of the Michigan
Southern limo for April s4sls2 larger than last
year. those of the Rock Island ST. M and those Of the
Michigan Central So 49e while the operating expenses
- all have been largely reduced
A. the early OF the open board the market was
steady. New York Cptra sold at 92' Erie 73S, Glove
land and Pttsburg slA, Reading 106%, Michigan South
S7k Rock Island 1858, Northwestern 291S-prefer-
yed 61H, Fort Wayne 99h, Mariposa preferred FAX,
and Canton 5sh.
A the first regular board, Milwaukee and 81 Paul
closed higher than the hslfpast two board yeser
day. preferred n. New York Central was y lower Erie
n, Reading q, Michigan Southern H, Northwest
sn preferred 4, Chicago and Alton ~ West
ssn Union Telegraph ], Mariposa preferred x, Can
son u Quicksilver n, OHIO and Mississippi certificates
4. Government securities were dull Seven-thirty
notes Of the second series declined 4.
Al the one O'Clock session the market steady At
the hafpast two board it without improvement
Ere closed higher than at the first regular board,
Michigan Southern ~ Milwaukee and st. Paul preferred
az Western Union Telegraph 2x, Quicksilver y.
Chicago and Alton was u lower New York Central ~
Northwestern preferred u Marposa preferred q. Rock
Inland quoted ex- dividend, and it nominally de-
olined 2s%. Government securities steady
oeptDg ten fortles, which declined q.
At the open board at half past three New York Cen
sra declined to 9l4 but the remainder of the list
steady. Erie sold at 1885, Reading 106X, Michigan
Southern 771 Cleveland and Pittsburg d. 81 s1s Rock
Island ex.dvidend s69., Northwestern 2sK-prefer-
yed COS, Fort Wayne s9H, Ohio and Mississippi
certificates %, Canton 5SX, Cumberland 447s,
Quicksilver 55Z, Mariposa preferred "a. After
wards the market remained dull but steady, aud
at bali past five O'Clock New York Central quoted at
e1X 92, Erie 73A ss, Hudson 109H Il, Reading
1oeX l07, Michigan Southern 77h a S, Cleveland and
Pittsburg SIX 4, Rock Island 96i4 q, Northwestern
1oh A-preferred 60% a x, Fort Wayne 80 u, Can
con bsz bid Cumberland 45 bid, Quicksilver 55x Sc.
The money market shows extreme ease, and the sur
plus Of unemployed capital is increasing owing 70 the
Non
sse made freely at per cent tho lower rate being
mainly applicable to government securities First class
commercial paper is discounted t o1s per cent, with
exceptions att.
Foreign exchange firm, and the rates experienced
further fractional advance under moderately brisk
demand from the importing interest and limited sup
ply OF commercial bills Bankers sterling at sixty
lhays quoted at 109H X; three days, 110H x
commercial IO7x 109 francs at sixty days. SIS q
Gl7X.
The importers making preparations for their fall
trade, and fresh orders stimulate the settlement Of
old accounts, while, remittances have been very
eenerally deferred for q considerable time past, the
aggregate Of indebtedness to Europe larger than
may be supposed.
Tho gold market has been strong its upward tendency
in the face Of the Treasury disbursements being
Ase to the advancing rates of exchange The causes
Influencing the latter the probable falling Off in
cotton receipts the ports and corresponding decrease
IN the quantity shipped. Tho return Of nvetwenties
from Europe, although only to moderate amount, and
ne active demand for bills from the multitude Of ind
vidusls going abroad, also operate in the same d
gseton Under present circumstances, therefore, II Is
reasonable 10 expect heavier weekly shipments OF gold
than have been accustomed to during the last six
nouths The opening price this morning was l2sx,
solowed by steady advance to l2sk. The closing quo
tation was 12s K Loans were made fiat and at a S
yr cent interest In favor Of the lender.
Petroleum and mining stocks were rather heavy Al
The r board Pthole Farms closed &C. lower than at the
pams time yesterday, 6unnell Gold &C., Columbian
osal &C., Consolidated Gregory Gold 50c Quartz Hill
vas l0c higher At tho second board Consolidated Gre
cory Gold closed Sc higher than at the first board selling
Il SIS IS. Oil Creek sold at 60c, Pithoe Creek g.
Unised States 90 80 Ada Elmore % 50 Downieve Gold
&C., Holman Gold Aoc.
An adjourned meeting OF the stockholders OF the Prairie
ea Chen Railroad Company held yesterday and to.
lay, which developed great want Of harmony among
fhose concerned The meeting was further adjourned
Sse fortnight without anything definite having been
accomplished.
Among the reductions In the Tax bill reported by the
Hsuse Committee Of Ways and Means Is that brokers'
sAiss which Is reduced TO cent hundred dol.
ian We glad to that host Of small, vexatious
ssw bill Our law stood in great need OF smpl6cs.
0on and revision and the work Of the Internal Revenue
Commission will not have boon in vain If It results In
shs abolition Of some Of the obnoxious OF the
many petty mposts with which the people have been
hardened
me Treasury Is preparing 10 iqudate the amount Of
outstanding year certificates OF indebtedness, and
ne Treasurer Of the United States IL reported, has
been instructed to receive aud pay unmatured certin
sstes Of Indebtedness with accrued interest 70 the
smount Of twenty millions II presented TO him before
Ne LIST or June The total OF these securities uncan
called on the LIST Of May se2 ooo and the policy
Of reducing their amount gradually is good as all sucf
sAert dated obligations Of weakness ant
embarrassment 70 the government.
The failure Of the Merchants National Bank at Wash
ington involving loss Of about three quarters Of
oiliion 70 the government Is still freely commented
upon, and Mr. Freeman Clarke Treasurer Spinner anc
- McCulloch equally censuvcd n,