The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-05-29
By Telegraph.
Spirit OF the Stock Market.

New YORK. May %.
Posts money article says: The loan market
is moderately active at 6G7 per cent. The
stock market is irregular. Governments are
better and railroad shares are active, except
hank statement is less unflvorable than was
anticipated. The sale of thirty millions of
Government gold has caused an increase of
than six million dollars. The deposits have
correSpondingly declined nearly eight and
one half millions, while the legal tenders
have declined nearly twelve millions and the
loans have increased more than two millions.
AFTER the board New York Central was quot
ed at 9J1s; Erie at 6d15; Michigan southern at
1871; Cleveland and Pittsburgh at 9II4; North
western at 1S5S; Northwestern preferred at
cali the market was dull and Erie depreSsed
| at 651Ed6514, which is three per cent lower
than the last London quotations.
LATER-Erie sold at $50, Western Union
at 81; Atlantic mail at Log; Foreign exchange
is quiet, but drmer.
The Commercial's money article says; The
effect OF the monitery disturbance or last
week Is RAPIDLY subSidlng. This morning
there is none OF the pressure for money which
characterized last week, but on the contrary
lenders are seeking borrowers. Large sums
have been offered at per cent on Govern
ment collaterals, but the general rate Is per
cent, though with n very apparent tendency
towards 8. t. q disbursement of the sub
treasury during the week in redemption OF
the market in an easier condition than 1t
was Il days ago. The bank statement shows
| decrease OF deposits amounting to So,4ig,-
S23, as however, there is an INCREASE in specie
deposits of S6,IIl, i6I; It would appear that the
decrease in deposits other than OF specIe Is
SEA 5sl 2SS: the decrease in legal tender II Sill
$50, &c., which must be REGARDED as large loss
considering that so much OF the payment TO
the sub treasury loan have been made in
temporary loan certificates of Indebtedness
and national bank currency. Legal tender
down 50 close but IL is sill 81 sS5 N, fnIs1e
of legal requirement. discounts are rather
more active; banks and private bankers show
more disposition to take paper at present
high rates. which has the effect OF reducing
for the moment the supply; call loans. at 60
9s0 days are current at45zgI per GENT, with
again buOyant The condition of certain
stocks being CHER indication OF the pre-
morning board the principal fea-
ture was the apparent condition of
corner In Cleveland and Pittsburgh.
There was an active demand for cash stock
from short, among whom a speculative d.
rector Is said to be numbered; prices closed Mt
9iH regular, and strong predictions are made
that IL will touch par. The street is consider
ably mystified about Erie; the prevailing
rise. the stock is undoubtedly very largely
oyersold. Tine price declined Is, closing at
671f. Nearly every stock on the list is morG
in every case for higher figures.
Governments are acuye and drner
throughout Government brokers have adj
vHnced their quotations materially in old
| sos and 7-30s; 2Os OF 1852 are "a better, and
7-S1s 4@Ef; lG-iGs rose y. closing at 80.
mand for export SpeculatoT5 for a rise are
disappointed at the amount OF 5-20s and Erie
shares returned by the City OF Boston, the
amount being nimportant. Foreign tx
change opens quiet There Is a moderate de-
mand for sterling.
| The Express says the sharp decline In Erie
| is based upon report OF q call for a special
/ meeting OF directors tomorrow. There are
rumors of troubles, and an over issue Is
| darby limited. There was increased activity
| In petroleum and mining shares to-day, with
| a general advance in prices. The upward
movement was very decided In U. >. and
Pithole Creek petroleum, and Rocky Noun
| tain gold.