The New York herald., 1867-03-10


SATURDAY, March 90 p NJ
The stock market has been very firm to-day owing to
tho efforts Of certain parties acting in twist
tho shors, or al least rghten them into covering -
The means Of the active sbus arc however, limited,
and the rise has been too sharp to be fully sustained
although gradual Improvement prices may reasonably
be looked for after the extreme depression OF the
ast few months At the same time IL must be remem-
bered that the outside support TO the market slight
that vigorous bear attack might entirely the
course Of prices The supply Of money was abundant
at seven per cent with exceptions TO first class houses
at six and the latter numerous than yester
day. The supply Of commercial paper offering for dis
count includes considerable amount OF produce notes
which are closely scrutinzed but the best grade
OF New York city paper at sixty days passes
freely at seven per cent Inferior grades are
out OF favor with the brokers and have submit to
high rates among the note shavers. favorable bank
statement is anticipated for the week. and the rumor
that would show increase in the amount OF legal
tender notes considerable influence over the course
OF prices late in tho afternoon.
Throughout the West good demand for money ia
reported but trade in the general markets improving
and this the effect Of strengthening among
capitalists while the distrust which prevailed few
weeks has largely disappeared. At Chicago the
banks report increased demand for money which is
traceable 10 growing speculative feeling In the leading
produce markets, and close scrutiny OF names is OBJ
served to the exclusion Of those Of inferior grades Ex
change on the East is in abundant supply although
the counter rates remain at par buying and 110 pre-.
MUM selling.
AT the ten o'clock session Of the open board railway
shares were firm. New York Central sold at 102k;
Erie, 551S; Reading, lo2k Michigan Southern, TX M
Cleveland and Pittsburg, SIX u; Northwestern, 34sl
Do
Wayne e4X Western Union Telegraph. - a AZ At
the first regular board there was q brisk demand
for all the leading railway shares and especially
Erie Pacific Mail was active at LIS l2s
and Atlantic Mail was steady at 9l a Oily
New York Central closed X higher than at the same
time yesterday. Erie !, Michigan Southern " Illinois
Central u, Northwestern " Ohio and Mississippi Ger
tincates y, Pacific Mail 1, Atlantic Mail l. Quicksilver
u, Cumberland " Milwaukee and st Paul preferred ~
Western Union Telegraph u. Missouri skies
active and advanced per under the prospect OF
the Legislature acting upon the statement OF the
ernor that the finances Of the State In a condition
to warrant restoration Of its credit What this
romans to be seen but 1t is evident that there
spectators here 'bulling" the market for them who
Of have personal motive serve by so doing
There is consequently danger Of their overseppng
tho proper mark, and in proportion they do 1t
skies advanced u. Government securities were
heavy. Coupon fvetwenties Of 1862 showed decline
Of n, issue Of 1865 ton-forties u seven-thirty
Of the first series y.
At the O'Clock open board the market showed an
increasing hrmness. New York Central sold 1033x
Erie, So; Hudson, ls9; Reading, 1925 X; Michigan
Southern y Tx; Illinois Central, 49, Cleveland and
Pittsburg, s1Z Rock Island, o57s II; Northwestern,
34z u; do. preferred, o2X 03; Forte Wayne, 95I
. u; Pacific Mail, 128 l26h Atlantic Mail, IS s6Js.
Subsequently there active demand for the stocks
most largely oversold, and Erie advanced to 60 in
tho midst Of great excitement, but reacted at
time the following quotations current
New York Central 100 Vi Erie, 6sh . y; Reading,
1o2K x; Michigan Southern, 72k Y; Cleveland
and Pittsburg, 50 . X; Rock Island, s5X 90; Fort
Wayne 95x a Y: Northwestern, IS y; do preferred,
6sk h; Pacific Mall, 12e l27; Atlantic Mail, s7K.
Governments securities quoted thus by the lead
ing dealers at the close Of 1881,
l00k u; coupon, 1881, 100 10o<; $50 registered
1862, 107 107x; $50 coupon, 1852, l0ok u; $40
coupon, 1854, 107h u; do, 1885, 107k Q y; do,
January and July, 1oox X; lo4o registered, ok
%; o.4o coupon, s7x y; August 7.so. 1861 y;
June Z 30, 1853 AZ.
q the commencement Of business to 1ask, and the
closing transactions were at 1SlX. Loans were made
At q 1-s2 per cent for borrowing. The shipment Of
specie and gold bars by this days steamers aggregated
s47s,6 ,6la, Of which the Psrers took tall.oe4, the
Deutschland el4S $685. and the City Of Antwerp $40 7Sl
The daily range of the market during the week is thus