The New York herald., 1866-04-29
FINANCIAL AND COMMERCIAL.
SATURDAY, April 28-o P. N.

The stock market has been rather dull to-day In con-
sequence Of there having been afternoon session OF
the stock Exchange well disposition the part
Of the brokers to make Saturday much halfholiday
possible during the summer In the absence Of
the usual volume Of business and buyers therefore,
some OF tho bears made effort to depress
quotations at the one O'Clock open board, assisted
by some sales To realize by weak operators. But
the result only slight decline, followed by re-
covery. Reading and Hudson River were strong the
former rising to 10o but Michigan Southern weak
The general tendency Of prices is, however, unmisak
ably upward and there is nothing in the present
tempated policy Of the Treasury to interfere
in the least with this the prevailing
etary ease. In the miscellaneous list Marposa
preferred was alone active selling at 25h a "a.
At the early session of the open board the market
rm and Erie tsaes 600 shares sold at 74s, New York
Central (sales eo0) 9s,., Hudson River 11oH Reading
lo5,S, Michigan Southern s2k, Illinois Central 100.
Cleveland and Ptsburg s2A Rock Island 1891, North
western 293i, preferred 69h, Fort Wayne 9sh Canton
ST. Quicksilver S. Marposa preferred 254 At the first
regular board steady and New York Central closed
higher than at the half past two board yesterday,
Erie 4, Reading 4, Northwestern preferred 4, Ceve-
land and Toledo y, Ohio and Mississippi certificates
Mariposa preferred u. Michigan Southern y lower
Illinois Central y, Cleveland and Pittsburg " Fort
Wayne y, Cumberland y, Quicksilver , Missouri skies
Governments
twentss of the 1862 issue declined r. seventhirty
of the first series advanced H. second series u.
After the call there disposition shown by
weak holders to realize, and the market weakened At
the open board O'Clock Erie sold 73% " Read.
ing l05k 105 New York Central tb 81 92ys Michigan
Southern sln u, Hudson River 10oH, Cleveland and
Pittsburg SlL 4, Rock Island 1925 (s 81, North
western 2sx H, Fort Wayne 07k ~ Ohio and Mssis-
sipp Certificates d. 81 26I spruce Hill So, Quicksilver
SAX, MaIposa preferred a. Afterwards the market
became nrmer and prices improved, Read.
ing and Hudson River being the strongest
Of the railway shares. At five o'clock the former
quoted 1857 1oc and 1los. bid for the latter
New York Central was s2x %, Ene 7as1 u, MIchi-
gan Southern son r. Cleveland and Pittsburg s1Ii
\, Cleveland and Toledo lolk Il, Rock Island 122I
l23, Northwestern 2szs 20, preferred 5s,1 a SO.
The lower hall Of she Stock Exchange closed half
past three this afternoon arrangement which will be
continued during the summer.
The money market remains extremely easy at 4a5
per cent with the majority Of transactions the higher
The Secretary Of the Treasury has given notice
by advertisement that the 18th Of May the interest
upon all certificates Of deposit OF temporary
loan, other than those issued for clearing house pur
poses then outstanding will be reduced to the uniform
rate OF i've per cent from that date. This Is accord
ance with the intimation gave few days ago and
MAINS however, for the Treasury discontinue receiv
ing deposits altogether than useless for il TO
continue adding to the amount Of these loans which
serve other purpose than that Of swelling an idle
balance As expedient the temporary deposit sys
tenn useful for a time but there Is no advantage
arising from TO the government justify It's con
nuancc any longer than necessary enable the Trca
sury TO conveniently Qudate the amount OF this form
Of ts Indebtedness The nrst these deposit loans
was made to the extent Of twenty-five millions
under the act Of February, 1862, the rate Of
interest being fixed at Eve per cent In the
following month another twenty five millions was
authorized at the rate and in July the same year
nfy millions additional was sanctioned Finally, in
June, 1884, act passed allowing hundred and
6fy millions rate not 10 exceed six per cent The
government was during this period, pursuing hand to
mouth policy which made the Treasury eager to clutch
whatever sraws within reach, and temporary de.
posits were welcomed like falling mama In the wider.
ness but IN theory they always open 10 objection
They place the Treasury 10 extent the mercy Of
its depostors and this exposing, II creating
vulnerable point, without any equivalent benefit to COM
pepsate for the expense and risk incurred
BY recent decision Of Judge Nelson, Of the United
States Circuit Court delivered At Albany the capital OF
bank is declared TO be q fixed and not a nuctuatng
amount and cannot be altered except by legislative
,horty The surplus earnings Of bank therefore
not taxsbis capital the more particularly distinct
tar Ia levied on surplus earnings by the national Cur
vency act
Gold has been In very sctive borrowing demand. and
deliveries made with grsa, irrcsulsy The rate for
loans ranged from 10 per cent per diem, the latest
transactions having been At x The opening price was
l2s'., followed BY dscIOe " u.s.. and subsequent,