The New York herald., 1867-03-03
FINANCIAL AND CONNER cIAL


SATURDAY, March 20 6P. NJ
The stock market continues devoid OF speculative
tivy, and every broker OF Mcawbsr. waiting
Tor something 10 turn up. The supply OF money
less abundant some quarters to-day than usual Of
lste but first class borrowers freely accommodated
at six per cent, with few exceptions seven and on
governments the leading dealers obtained all the
loans they required at i've. There is a moderate
business doing IN discounts. and first class CON-
mercal paper is quoted st seven per cent, and
in instances at half per cent above and below this
rate.
At the opsn board at ten O'Clock railway shares wore
steady New York Central sold At 102 Ere 55K; Hud.
son. l40: Michigan Southern, Tx d. 81; Northwestern
IS do preferred ask; Rock Island, o5A; Fort Wayne
94A 4. At the first regular board the market
was dull and unaltered. and government securities
were inactive. although steady In tone. Atlantic and
Pacific Mail showed improvement and the former espe-
oIay At this particular time report Of the affairs OF
the Pacific Company would be welcomed by tho stock
holders Thus far in Its history the company has never
published one although has issued occasionally what
is called balance sheet New York Central closed Y
lower than At the first board yesterday Michigan
Southern y, Maripoa preferred y. Eric was X higher
Reading u. Michigan southern x. Rock Island n North.
western ~ do preferred r. Fort Wayne e. Ohio and
Mississippi certificates lK Pacific Mail III Atlantic Mail
sx, Canton ~. Tennessee skies were y higher.
At the one O'Clock open board there was . moderate
volume OF business transacted, ~ slight advance in
prices New York Central sold at 103,S: Erie 55H X
Michigan Southern, 73 Cleveland and Pittsburg, SO a
SAN; Rock Island s5% r.; Reading 1903; North
western s5X; do. preferred 65k a. 81; Fort Wayne
OAK; Atlantic Mail, SO s4h Mariposa preferred 221
Subsequently fractional decline took place and at
half past five the market closed steady the following
mo-. rr;c ~
x; Reading, 1927 1903; Michigan Southern, 72k
7s; cleveland and Pttsburg, SIX So; Rock Island,
s5h x; Fort Wayne, o4KaX Northwestern,
35ss Ak; do. preferred, 65 654; Western Union
Telegraph, 42,s a Vi Pacific Mall l27 1913; Atlantic
MAIL SO s2H; Ohio and Mississippi certificates, Elk
az.
Government securities quoted thus by the
dealers the close OF business Registered 1881 1l0n
1i0'1; coupon, 1884, 1l0]< 110'<; $50 registered
1852, 107x u; $40 coupon. 1862 10Y 111,S; 20
coupon 1854, 1o71s lOsb; do, 1865, 1851 1Osal;
August 40, 1861 1866; June, l05S u; July 730,
105ssaH
The gold market has been rather heavy, notw hsand-
ing the Presidents veto Of the Reconstruction bill This
mainly consequence Of the latter having been
pected discounted but in degree to the dis
busement of the semannual interest the ten.forty
loan, which commenced yesterday amounting to s4sls
252 The decline the OF foreign exchange together
with sales realize by number OF large operators
the bull side assisted the reactonary tendency. Tho
opening price 1885,, followed Dy steady decline to
1885, the closing quotation in the room at three p H.
Subsequently, however, tho market showed an ad-
vancing tendency, and the latest sales at 139
under reports concerning impeachment and the
general temper OF Congress towards the Presi-
dent. tho inference being that the veto had
made tho impeachment project moro threatening.
Cash gold was in abundant supply and loans were
made without interest," and at a per cent for carry
ing. The steamer Mississippi took ont s13l 624 il
specie, the Allemannia $l316l4 and the City Of New
York $2S 734 making for tho week total Of s744 COZ
The foreign exchange market inactive but nomi-
nally unchanged to rates. Bankers bs England
at sixty days were quoted at 1857 1OSE; al three
days, 1o9k 10eX; commercial bills 107 10s; francs
at sixty days, 617h q 5.22x at three days, 5.13s<
SIS; bills on Berlin Tx 72; on Bremen 7sss 7sX;
on Frankfort, Al AK; on Amsterdam, 40h 4;
Hamburg. SO . 36h; on Antwerp, 522k 517h.
The failure Of the First National Bank Of Hudson,
owing to msappropration Of its funds by the cashier,
has quickly succeeded that Of the National Bank Of
Medina, and in addition, tho cashier Of tho First Ma
tona Bank Of Newton, Mass has converted TO his
use $4,000 Further, we learn that State street,
Boston, was In . ferment this morning owing
to tho disclosure Of Irregularities on the part
city, involving the certincaton Of the dpecks
OF nrm Of stock brokers that failed yesterday to the
amount or half million. The bank directors repIdats
the action OF tholr cashier and the question h Who is
to pay the checks All this goes TO show that much
looscness and dishonesty prevail in the management
the national banks OF tho country, and public confidence
cannot fail TO be somewhat shaken in them by such a
batch Of delinquences occurring almost smnl-
taneonsly. The Comptroller Of the Currency should
promptly take charge OF the Affairs Of those
institutions which have failed, and the cxamina-
tions into the affairs OF national banks authorized
by tho currency &C. should be conducted frequently
has hitherto been the practice Bank directors
should also perform their duties with thorough
ness and after being careful in their selection Of
cashiers be equally careful give them salaries suf
cent enable them 10 live respectfully and check their
often enough to make defalcatons next 10 i'm
possible -e--sAs. ts,.~-r