The New York herald., 1867-03-20
FINANCIAL AND coMmERc RciAL.



The stock market has been the whole, arm 'o'day
although il was temporarily depressed shoruy ai'er
noon. Its buoyancy immed la,ey afterwards, however
shaved ina s,rano. r ts undertons well indicated
The specnlatvs activity which is rapidly becoming
general The prevaling opinion is that the improve
ment which has lust commenced VIII make steady pro-
sress throughout the coming spring and summer and
,,.do arss are beginning buy under this impress
sion History in Wall street always repeating itself.
and Il Is reasonable suppose that tho extreme depres
sion Of the four months previous to the present will
be succeeded by q corresponding reaction. Money
continues in abundant supply TO the Stock Ex-
change at six and seven per cent, according
20 the character cola terals and standing
inc borrowers There a fair business doing in the
discount line, and the best grade Of commercial paper
passes the legal rate Of interest with exceptional
transactions difference OF half per above and
below it, few timid persons are looking as wise
owls the efeot OF the national banks making up
their quarterly returns the LIST Of April but appre.
henson need be felt this account, tho drain of
currency will be steadily towards this centre till next
September and the stronger the position Of the national
banks is the more easy money is likely to become.
At the o'clock session OF tho open board the
ket was strong. New York Central sold at 1854 u;
Erie, 59A COS; Reading, 1924 y; Michigan
Southern, 7s u; Cleveland and Pittsburg, 49, Rock
Island, 9s h; Northwestern, 80 K; do. preferred
64%; Fort Wayne, ok Is; Mariposa preferred, 23S
Pacific Mail, 122 u At the first regular board railway
shares continued strong Michigan Southern and New
York Central being the most buoyant The movement
for rise in the first mentioned is stimulated by the
prospect of partial reconstruction OF the Board Of d.
rectors the fact that while other railway companies
have been increasing their debt years past the Mch
gan Southern has increased it's debt regarded
good reason why, with its present large earnings, 1t
should be dividend paying instead Of non-dividend
paying property the especially has, according
10 its reports been expending for long time past
large amounts in the Improvement Of its permanent
way and rolling stock and the purchase Of
new depot at Chicago, costing nearly half million.
The regarding the speculative stocks which
noaed from day day in Wall street must however. be
with several grains of reservation, and will be
remembered that dividends promised the Michi-
gan Southern common stock more than year ago by
tho present managers, but the stockholders have
yet to be gratihed by the declaration Of one New
York Central closed TX higher than at the same time
yesterday, Erie " Michigan Southern 1H, Cleveland
and Pittsburg a. Cleveland and Toledo Z Rock Islaad
], Northwestern l4-do. preferred e, Fort Wayne x,
Chicago and Alton " Quicksilver u, Marposa preferred
u, ONO and Mississippi certificates u, Pacific Mail 2
Government securities firm. Coupon fvetwenties
OF the issue of 1855 advanced notes
Of the second series u, third series y. Missouri skies
Il lower. Tennessee skies, new, u lower
At the o'clock open board the market hammered
somewhat vigorously by the bears and general decline
was the result New York Central sold at 104x 105;
Erie SOS u; Hudson, 13SL; Reading 1o2; Michigan
Southern, 76H 77h; Rock Island. OK "; North
western, 35H-do preferred, 641s Fort Wayne, s6X;
Pacific Mail, 12l.
At the half.past two regular board the market
dull, but nrmer New York Central closed x lower than
at the first regular board Erie y, Michigan Southern s.
Cleveland and Pttsburg Il, Rock Island u, Northwest
n Fort Wayne u, Ohio and Mississippi certificates
y, Pacific Mail Il, Canton 1K. Northwestern preferred
was higher Government securities were neglected.
but steady in Coupon skies Of 1881 declined u.
Missouri State skies were Y lower At the half
past three open board the market was steady.
Now York Central sold at 1o5L; Erie, 59X Reading
1o2H; Michigan Southern 77A; Cleveland and Pttsburg,
s2X; Rock Island, 97A; Northwestern s5K; do pre-
ferrsd e4Z; Fort Wayne DIX; Pacific Mail, l22 Sub
Ssquenuy the market became strong and at half past
nve O'Clock the following quotations CURRENT
New York Central, LOG 105b; Erie, go y; Reading,
102k 4; Michigan Southern, 775s; Cleveland and
Pttsburg, 90 "; Rock Island, os q; Northwestern
sek III do. preferred, 651s y; Fort Wayne 81 Ak;
Ohio and Mississippi certificates, 27ak.
Government securities quoted under by tho
dealers at four O'Clock: Registered 1884, 100 1o9&;
coupon 1851 100 109S; ive-twenty registered 1862,
1o7 1o7S hvetwcnty coupon 1862, 1os,s 1os,S; do
1884, 1o78 x; 6ve-twenty coupon 1855, lo74 los;
January and July, 1867 107is; ten-fory registered
o7K 4; ten-forty coupon, s71s e; August seven
thirties 1857 106h; June seven-thirties 1855 x;
July seven.thiriies. 105's 1861.
The gold market was extremely dull, and the price
declined during the morning 1884, but subsequently
advanced 1874 and the closing quotation 1337s
Ia4 There was moderately brisk borrowing demand
for con and loans made at 1-32 1-l6 per cent
Der diem, in favor Of tho lender.
foroirn rkp ct waS firm nd nj le
close OF business bankers bills England at sixty days
were quoted at 1osx 100; at three days. 100 l09A
commercial bills 107% 10sx; francs at sixty days,
R16k $40; at three days, 5.13X 517k; bills on
Berlin, 71l 72 Bremen 7sx a 20; on Frankfort,
Aok 4ol&; on Amsterdam Al a 417s; on Hamburg, SO
. aasx on Antwerp, 5lsx 5.i7k.
Mining shares firm, and Alameda Silver advanced
70 81 90 under fresh reports from the mines, which are
situated in the Pah Ranagat district southeast Nevada,
and described very rich AT the first board Consoli
dated Gregory Gold higher than the second
board yesterday, selling at s12 o5. Quartz Hin
SOc. lower, selling at 50 So Alameda Silver sold at
81 rs h. c-); ColumbiansGod and Sver 81 S. At the
second board Columbian Gold and Silver closed 81 o5
higher than the first board selling at SO 90 Quartz
Hnl &c. selling at 80 S. Consolidated GREGORY Gold
l5c lower, selling at sl2 65 Alameda silver sold
at 81 80 and after tho call 81 4o with strong
demand at the advance
The Cleveland aud second mortgage oond hoider5 OF
thc Milwaukee and Minnesota Railroad have fled bonds
TO the amount OF $3.50 600 appeal from the de-
eision OF Judge Mer's TO the Sapreno Cours OF
the United states.
Ast Louis journal OF the 18th inst remarked OF tho
Missouri State Credit bill that the act which has passed
the Legislature provide for the payment Of interest on
tho state debt and which awaits the signature OF the
Governor TO become Law, wil to great extent relieve
apprehcnsions In regard to the financial credit Of Mis-
souri, The act appropriates stooo,ooo OF the amount
due from the United States $4,000 in the trca
sury tax Of s138 900 the railroads, and the pro-
cseds four mill tar, estimated at 81 400 COO for
this commendable purpose. and to form sinking fpnd
The Philadelphia bank statements Of the past and