The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-26
FINANCIAL AND CONNER GAL.
SUNDAY. Feb. IS. 1855.

SUNDAY, Feb Is, 1855.
Affairs In Wall street have been somewhat unsettled
during the past week by heavy sales OF gold govern
ment account the Intervention Of q legal holiday, the
discussion of the finance bill in Congress and the
political commoton consequent upon tho Presidents
veto message combination Of which efectuay
checked for the time being the improving tendency of
prices on the stock Exchange previously manifested
The immediate effect Of the coin sales referred TO
drain OF into the Sub Treasury pay for the
specie so and advance the OF interest call
loans to seven per cent lenders being dis,rusfu OF
the future, NOS knowing to what extent the govern
ment might sell coin and hoard currency, and being
BILE TO understand why the sales were made for
political effect the balance In tho Sub Treasury was
far In excess Of the requirements Of the government
and now stands at the excessively high figure OF hun
dred and seven millions Rumor ascrbed the cause TO
an intmaon received official quarters that strong
combination had been formed TO buy gold for
rise the strength OF the split between
the President and the radical republicans, and
that the Treasury Department was determined TO
make coin for delivery SO abundant the combination
would DO powerless TO produce advance" Another
rumor had 1t tina, the Treasury wanted To- fc 'e l'
reduce their temporary deposits, hHf Oh 20" "fi t"r
motive governing the sales although the @ i'ra*itE
has obviously far larger amount ta.a!nr-fs .u,u
than It has any possible for. Tho result Ol the
superabundance of cash gold in the market to lower
the premium from 1879 early only on Friday morning
1856 Saturday but before the close Of business it
had recovered TO 1857 1877 One thirty second Of
per cent had at the time to be paid for
having coin carried" The market suffered on the
whole but fractional decline during the week. the quo
tatons on Monday having ranged from 1862 to 1917.
rhe demand for customs duties aggregated 50 COZ, 795
what buoyant market, and the bulls appeared confident
Of higher quotations and bought freely relying upon
abundance OF money at six per cent the large outsand
ing 'short interest and the encouraging prospects OF
the railways to support the upward movement But tho
monetary pinch and speculative hesitation pro.
duced by the causes already mentioned fell like
wet blanket upen their operations and
large sales we're made to realize well ''short"
account Government securities were likewise depressed
In sympathy. On Saturday, however less unsettled
feeling prevailed and tho money market worked easier
owing abatement Of the apprchensons OF lenders
There at no tmo q zeal scarcity of currency and
the effect OF the Sub Treasury coin sales and the do
at Washington exaggerated. In view, therefore,
OF the supply Of money being at least equal to the de-
mand at seven per cent. II not SIX, elthor being
equally immaterai there Is prospect of increased &C
tivy and higher prices in the present temper of the
market
Al halfpast Ave Saturday afternoon the following
quotations urrent:-New York Central ok a x,
Eric 81 Hudson River l02 4. Reading a95S q 100
Michigan Southern 6s% a 80, Illinois Central 1I3 u,
Cleveland and Pittsburg Tx y, Rock Island lo3h
y, Northwestern 81 a Is, preferred SAX y, Fort
Wayne OK Ak.
Foreign exchange In brisk demand carly in the
week and the marke, reacted from its previous depres-
sion. Bankers bills at sixty days Enrand sold at
1854 u on Monday; but the d rl.n.d Tor S'.igrays
was less urgent aud he iciia 8, los Z
y. The supply of Southern cn, Oh nId i1 .lru.r-
cial bills was very limited tho export b.g rather s t.
At the close three days bills quoted 1898
francs 20 5.lsS at long date and s. IeS a5I7h at
abort sight Tho advance In American cotton Liver.
pool had tendency to weaken the rate the theory
that would stimulate exports Of the staple; but the
fact of tho rise having been in American only shows
that there Is strong preference for IL above all
others In tho English market, and this encour.
ages holders on this side 10 await higher prices,
aud hence tho advance OF about three cents per
pound hore which took place during tho week The
ceps at this port for the week ending Friday evening
estimated have been 10 052 bales and tho exports
at 10 O3s bales Tho stock at Mobile, February IL,
reported to BIO So 600 bales at Galveston, the 3d.
1929 bales; at Savannah, the 2st ~ 337 bales
Charleston, the 18Th, SOFA bales The stock OF cotton
at Liverpool, tho 11th inst, 400 $40 bales Of
which 2o7, 800 American. The stock at the same
rate last year was 535 $50 balcs
The Official OF the commerce OF this port for
tho year show that while the imports were valued
s224 Ti2 4io In eod the oSports exclusive OF specie
valued at only sI5s 82G 500 in currency The OK.
ports OF specie during the year aggregated $50 6s3
The nature Of the mporations and comparison OF
those of last year with the two previous years given