The New York herald., 1866-03-06
FINANCIAL AND CONNER CiAL.


MONDAY, March Sop NJ
rnere has been rather irregular and excited market
for stocks and gold to-day the activity and fluctuations
I'm which have been greater than usual Of late The
general tendency OF railway shares upward but the
hears vigorously resisted and succeeded in hammering
two or three OF them with temporary effect The
anernate fall and rise Of gold was in some
degree connected with the operations OF parties
s'short" of stocks, who endeavored to reach
the stock Exchange through the Gold Room and thereby
secure a double profit The increased animation thus
impaired speculation may not unreasonably be re-
garded the precursor Of active state of busl-
Wall street at the present OF the year and
In the prevailing temper of the public mind Even the
spasmodic movements Of to-day encouraging in
par son with the sagnation which has marked the
greater portion Of the last two months
At the early session Of tho open board the market was
Arm. Michigan Southern active (saes A. 500 shares
and sold at TO- New York Central e1 f. 81, Erie SAX
Rock Island 105tl Cleveland and Pttsburg 76x North
western 28A, preferred 531. Fort Wayne 90k 90,
Quicksilver A. Schuykll Coal 14X At the first regular
board Michigan Southern and New York Central were
strong but the Of the list dull and rather heavy
Now York Central closed IL higher than at the h past
two board on Saturday. Michigan Southern (saes 5700)
g. Erie and Reading unaltered Cleveland and
Pitsburg was u lower, Northwestern , preferred 4.
Fort Wayne /, Western Union Telegraph ~ Quicksilver
T. Government securities were steady at the closing
prices OF last week.
After the call the market was lower but at the one
O'Clock there more nrmness and prices ad
vanced The sales Of Erie at the open board were large
aggregatng 5000 shares At the halfpast two board 1t
was firm Erie closed 4 higher than at the first regular
board, Michigan Southern a. New York Central q
lower Read ng 4, Cleveland and Pitsburg q, North.
western preferred u, Fort Wayne H. Government
which advanced r.
At tho half-past three open board the market
somewhat unsettled, but active, with largo transactions
IN Cleveland and Psburg sales 900 shares and Michi
gan Southern ssles 56O0) The latter sold 701z u,
Cleveland and Pittsburg 75T u, Now York Central
9lH u. Erie SAX, Reading 9S 975s, Rock Island
1o4T 1O5, Northwestern 257s, preferred So, Fort
Wayne 8sk a.
Afterwards the market excited and irregular Erie
and Michigan Southern being steady and Fort Wayne
and Pttsburg weak. At half past Eve O'Clock Erie
quoted at s57S n, Michigan Southern 7ozs II, New
York Central 90S X, Hudson River 1927 bid, Reading
97H \, Cleveland and Pittsburg 75% q, North
western 254 " preferred 52H 4, Rock Island 1861
n 4, Fort Wayne ssK " Compound interest notes
were quoted by the dealers thus:-June, 1864, 1o7A;
July, 1864, 1o7H; August 1854, 1O6A October, 1854
1864; December 1854 lO4a; May, 1885, 1o2s1; August,
1855, 101X september, 1885, 101t4 October 1865 1Ol
There has been moderately full demand for money
from the Stock Exchange which has been promptly met
at per cent, with few exceptions at six. Tho
applications for discounts slightly the increase;
but first class commercial paper passes freely TX
per The bank statement for the week shows
contract OF loans, chiefly owing to Withdrawals OF tenn
porary deposits from the Treasury and the sala OF
government securities to the extent Of A 7ss The
deposits have decreased 81, l,797O26, and the legal
tender notes s2,s42,5s1, consequent in part upon
payments made for gold sold on COVE
at the end of the week before last The specie
has increased $2o07, TO from the same cause. The
statement is not unavorabo and the supply Of loanabe
funds with the banks In of the demand
The disbursements Of the Treasury active the
balance this evening being reduced to 1884, 43O.
The Of gold has been unusually eccentric, the
price ranging from 1929 at the opening to 134h
after noon, and ba k to 1929 at forty minutes
in the first instance large "short''
sales by the German bankers, who sold out
their "iong" gold the close of last week. and who
now wish 10 puy II back a. low as possible. One
American house also sold Saturday morning $500
OF previously boarded and this assisted the down
ward tendency; but notwithstanding the large sales
which have been made coin much scarcer for deiv
cry to-day than at any time last week, and instead Of in
forest being paid for having it carried intcres
st the rate Of about two per cont had Il
be paid for the loan Of IT, The government
has not beeta seller under 137hc lowest sale made by
having been at 1877 7X-and will not be- It's disposition
being favorable to checking the speculative decline and
promoting recovery, which will doubtless soon take
place The premium has not been 20 low since last
May when in the panic which attended the capture Of
Richmond 1t declined to 2sh Previous to that time 1t
had not touched point equally low since September
1868 when II declined to 81 The range Of the market
price during the years 1862 1868 and 1866 is thus
shown