The New York herald., 1867-02-22
FINANCIAL AND COMMERCIAL

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THURSDAY, Feb. 2l-8PM.
Tho railway share market has been on the whole firm
to-day and the tendency towards Improvement was slim
ulated by report that the Ways and Means Committee
had agreed to report bill suspcndng the further con-
traction OF the currency for There was further
break in Pacific Mail and the transactions were unusually
heavy The speculative feeling the Stock Exchange
Is tame but there present absence Of to
sell the railway shares down, although not few Of the
wiseacres or the street talk Of lower prices for all
kinds OF securities Tho supply OF money con-
nues abundant at six per cent on ordinary coaterals
and Eve on governments There s an active business
going forward In the way Of conversions OF seveuhry
notes into vetwenss Of the new issue but this morn
ing tho b-Treasury was notified from Washington 70
sell no more Of the bonds and they became frmer in
price accordingly. The discount line is moderately
active and rs class commercial paper passes at seven
per cont and in cases at half per cent variation
from this rate.
At the open board ten O'Clock railway share4
nrm New York Central sold at l0lX; Erie, 5oh 6S;
Michigan Southern, 7Sh X; Cleveland and Pttsburg,
SOY Rock Island, 97H X; Northwestern. 35yI S6k;
do. preferred, 65x y; Fort Wayne 961; Pacific Mail,
127 12s. At the first regular board the market was
steady and rather dull. except for Pacific Mail,
which was greatly excited, the sales aggregat-
ing II. 500 shares on the call at prices ranging
from $50 to l2e. New York Central closed 4 higher
than at the same time yesterday, Ene r. Reading "
Michigan Southern Il, Cleveland and Pittsburg u North
western x; do preferred r. Fort Wayne 1. Pacific Mail
10c. lower, Atlantic Mail &C., Western Union Tele
graph Il. Government securities strong. Coupon
I'VE twenties OF 1862 showed an advance of *
1884 u, issue of 1865 a. Seven-thirty notes
without change. Tennessee skies were u higher. At
tha Npa hoor. AZ dull, and
slightly lower. New York Central sold at l0lH x;
Erie, So; Hudson 1857; Michigan Southern, 72S
Illinois Central 1l6; Cleveland and Pttsburg, 7sal So
Rock Island e6al; Northwestern, 35ss do preferred
64I: Pacific Mall l27 a 4.
AT the regular board railway shares
steady bu. Pacific Mail continued active and unsettled
$500 shares having been sold the call at 125 1871
1t probable that all the weak holders OF the
stock have been sold out and that the effect of the
duced dividend has been discounted The decline
indeed, has been too great to be due solely to
the latter cause and s'bear combination to
dcprcss it doubt underlies the movement
Eric closed 4 lower than at the FIRST regular board
Michigan Southern ~ Cleveland and Ptsburg 4. Rock
Island a Pacific Mail l, Western Union Telegram l 4.
Reading 15 higher, Pacific Mail l, Canton H. Gov
eminent securities inactive. Coupon vc.tvenes
OF tho new issue of 1865 advanced 4 Az the hallpas
sold at 127iS 4, New York Central sold at 1924 Il;
Erie, 56,z x; Michigan Southern, 72sl a Il; CIcvc
land and Pttsburg s05s Rock Island 97s; Northwest
ern, 351s do preferred, 657S III Western Uuon Teie
graph, 405s az. Subsequently Erie advanced to 81,
but reapsed to 56 and at Eve O'Clock the market
closed steady at the following quotations:New York
Central, 1ol< 4 ys; Ere, 56H 1G Reading. io4;
Michigan Southern. TAX z; Illinois Central, ll6,@
Il; Cleveland Pittsburg, s0k; Rock Isand 97t& 4;
Frt Wayne, 96 Northwestern 35s Il; do. preferred,
65 y; Western Union Telegraph, AZ; Pacific Nail,
127. BY this time IL was generally known the
street that a bill authorizing the issue OF one
hundred millions Of new greenbacks in redemption
Of the same amount of compound interest notes
had boen passed by the House OF Representatives. and
that Mr.. Hooper's bill TO render COMPOUND interest
notes unavailable banking reserve had been de-
fea.ed The rst mentioned is substitute for the Loan
Certificate bill originally reported and In accordance
with the plan suggested by this journal for meeting the
maturing compound interest notes BY Issuing plain
legal tenders in redemption, tho interest which 1t was
proposed 10 allow the certificates will be- saved, and
tho Treasury at the time freed from tho emharass-
ment in which the issue OF certificates would have in
volved 1t.
The amount OF tho compound notes maturing this
year s variousy stated reports agreeing the
subject Mr. Sherman submitted to the Senate the fol-
loving statement respecting them, but IL will DO OBJ
served that his 0gures estimated whereas Mr. Nc
CuiIoch given to Congress last May, carried with them
NO such qualification. Which, therefore, is correct
sherman's hundred millions, or McCuloch's Afty