The New York herald., 1867-04-08
FINANCIAL AND COMMERCIAL.

II =
~ H SUNDAY, April !, 1857.
The s,ock market has bean depressed during The
/ mast veek oviae 10 the unsettled condition Of none
tary aa,rs the country banks having withdraw their
h,ances Al this centre largo extent IN order 70 make
good appearance in their quarterly returns TO the
treasury Al the same time the governmsntbas been
drawing upon its depostoriea and selling gold for the
purpose OF paying or is current obligations and
these causes combined have proved sufficient 70 pro-
ducc more than usually prosractsd srugency for An
occasion Of the kind But these qasFtary returns Of
the national banks founded wrong principle and
directly calculated 10 msead. but a they noto-
riousy cooked IL may be that the only harm they do
Is 10 derangs the money market every three months
without comforting any benens Whatever in return A.
deliberate farce witnessed in the history
OF banking or OF nnance The examination into the
affairs or the banks should either be retrospective
their satemen should be made weekly 70 the Currency
Bureau Although . return 6ow from the interior has
set IN strongly the bank statement TO be published To-
morrow win show large decrease In deposits and legal
tenders This, however, must be accepted as an evi
dence Of what has passed rather than Of what s TO
come. The money market cannot fail TO grow
gradually easier for weeks and corresponding
revival OF speculation the Stock Exchange may be
money should remain easy In order that Its funding
operations msy be promoted The drain Of currency to
the INTERIOR and particularly Pennsylvania 1t may be
mentioned all the greater prior to the 1st OF April
in consequence OF the general maturity Of contracts and
mortgages that date in that and other States and
sharp reaction is already taking place. The scarcity OF
money this has been all the remarkable
because the balance Of currency the Treasury
duced to the extent of SIS 223, $40 in March.
Loans generally made to houses in good credit at
seven per cent, but other borrowers in not fcw in
stances submitted TO this rate in gold In the discount
line only first class commercial paper taken at the
banks and the rate for this varied from
per cent hopeful feeling prevailed ON Saturday
the street respecting the future Of the money MARKET
and the supply Of capital reported moderately easy
to good houses per cent Railway shares closed
dull but steady at half past five at the following quota
tions:-New York Central, 100N S; Erie, 65's X;
Reading, 10lA u; Michigan SOUTHERN 7ox X Cleve.
land and Pittsburg, 70 a y; Rock Island, ssX 80;
Northwestern, 33k 81 do. preferred, 90 . Vi Fort
Wayne, s21s II Pacific Mail, 12oK 4; Atlantic Mail,
80; Mariposa preferred ok n; Western Union Tele.
graph, AK . Y. Government securities and state
stocks were duh and steady and mining shares mode
raely active and firm Alameda silver being the strong
est Of the latter @9 se e'@ l
The gold market was dun and rather heavy 10 tone
during the week, the prices having declined from 184x
on Tuesday to 1921 on Saturday, with the closing
transactions at 1926 The Treasury n understood to
have sold coin TO amount about equal 70 it's daily
cept and this had the effect Of keeping tho floating
supply undiminished. The prospect OF the dsburse-
ment OF nearly thirty millions or coin interest the
nvstwenty loan on the LIST Of Nay has tendency to
keep premium down. This loan has been increased
by conversions Of sevsn-thiry notes during the year
ending on the Ist instant less than 0oo the
total amount Of bonds now outssandins beng $685.,
s82 o0o The demand for coin for Castomsdutes dur.
ing the week aggregated % AIS ooo while Tho gold
interest paid by the ub-rreasury AMOUNTED 70
&5s 200 or the export, Of LITTLE more than half
million portion was in gold and silver bars gs a.
The foreign exchange market wss somewhat variable.
but on the whole nrm add the tsndsncy At the Close
further hardening or rates under scarcity
Of bills and good demand Tor stsrng ana francs from
importers Owing the steady decline in cotton abroad
bills drawn against u are less in favor and have 70
undergo closer scrutiny than usual. On Saturday
afternoon bankers bills England u sixty days
quoted at 1osX; at three days, looX loox; CONNER
cial 1919 10sk Francs at sixty days SICK a620;
At three days, SICK 6lsX. Bills on Berlin 7s,s a
7sX on Bremen, 7sH 7sX; on Frankfort, 4oN Al
on Amsterdam, 40K AK; on Hamburg, % 36k; on
Antwerp, s. 20 6.1sz. H tN efta.
The dry goods and general merchandise markets have
been variable but generally declining during the week
owing manly 70 the active demand LOT money ana the
downward tendency OF gold The decline of cotton
abroad has checked Improvement in tho prices Of fabrics
and the trade in dry goods is still dull and without
change, il we except growing demand for manufac-
tarers suitable for spring wear. The mporations OF
foreign dry goods this port reflect the condition Of the
trade here. Those for March were valued at only
$40 b7s against SIS 27a for the month in
1896 The imports then were, however, exceptionally
large those for March in 1885 having been valued It
only IS 500 That thsre Is either large absorption
OF foreign dry goods going quietly or strong dis
position press them for sale at the present time would
seem To be evident from the fact that the withdrawal
from warehouse March amounted TO 6,sA2 76s max
ing the ota thrown upon the market during the month
Sl3 81 1ol against e1l GA in March last year.
These values god exclusive Of freight and duties
The imporatons from the LIST Of July 1885, 10 the end
Of March, 1857, period Of nine months were valued
at sos and in previous years the totals for the
corresponding nine months ran - follows