The New York herald., 1867-03-11
FINANCIAL AND COMMERCIAL.

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SUNDAY, March 10 1851.
The temper OF the stock market during the carly par
OF last week was bsarish and all ths speculative shares
wero scld down with considerable freedom, the decline
aveagngc per cent: but towards the close marked
change for the better took place. and Erie which al
ne had touched 52l 90 late On Saturday after
noon The advance duo any accession of out
sdo support but TO the operations OF pties Who after
hammsrins the market in tho first instance and
covering their shorts at the decline, commenced
| baying for rise, trusting to the assistance which
| the large 'shorl" interest outstanding would
| afford them In making their speculation rrohtabe.
The operators confined their efforts mainly Erie on
account Of Its being low in price and the hrgey
oveisod stock the list and the rapidly with which
advanced Saturday showed that they had succeeded
In frightening Of the bears into covering their con-
tracts The RISE too, stimulated by the report taat
the next bank statement would be favorable the infer.
drawn from this being that the increased demand
from the Stock Exchange arising from the enlarged
volume Of business would be Offset by the increased
supply OF ioanable funds The railway share market
closed nrm at quarter to six O'Clock on Saturday at
the following quotations. Erie having previously reacted
to 5SK:-New York Central, l03 a II: Erie, ssk x;
Reading, 1927 Y; Michigan Southern, 72a a 4;
Cleveland and Pittsburg, SO III Rock Island, esys 9e
Fort Wayne, 95H X; Northwestern, 35 v; DO pre-
ferred, 63H r.; Pacific Mail l26 127; Atlantic Mail
SIX.
There was large business transacted In Atlantic and
Pacific Mall at advancing prices, but the miscellaneous
shares generally were dull The stock Of the United
States Coal Company admitted TO the regular lis. Of
the board and sales made at 35 Saturday.
Government securities lightly dealt geld
bearing securities especially were heavy, owing to tho
decline In gold At the close Of business sasur-
day the following quotations we're current OF the
counters Of the leading deaers:-Regstcrcd. 1881,
1904 u; coupon, 1881, 100 109A; $40 registered,
1862, lo7 lO74; $40 coupon, 1892, lo9k vi $40
coupon, 1854, lo71s ss; do, 1866, 1914 h; do,
January and July, 1o6k x; 10-4o registered, o71
es; 1910 coupon, o75s y; August 7-3o 1865 q;
June $780, 1861 u. Among the State stocks Missouri
skies were excited and sold up to CO.
There good demand for money during the week.
both from the Stock Exchange and in the discount line
and lenders found full employment for all tho funds At
their disposal The rate for call loans rule
advanced per cent but exceptional transactions
reported at six, generally for large amounts 10 first
class houses or on government securities. The amount
Of commercial paper Offering for discount was consider
able but only the best grade met with favor at the
banks the rate for this ranging from six and half to
eight per cent according to the rate Of maturity, the
usual rate being seven.
The gold market heavy during the week. the price
having declined from 139 on Monday to 1885, on Thurs
day; but from this point there recovery 10 1865
on saturday the closing transactions at 1915
There throughout brisk borrowing demand for
con owing to the large sshort'' interest outstanding
and loans made at rates ranging from 1854 TO H Per
cent per day In favor OF tho lender Tho demand for
customs large the receipts at the port for
tho week aggregaiing So, 0O0 while the disburso
ments OF the subTreasury in payment Of interest tho
gold-bearng debt ssll 900. The adjournment OF
Congress without taking any important action towards the
impeachment Of the President tended to aay apprehen
sons and the market reacted all the strongly after
the previous advance In consequence Of the decline IN
the rates Of foreign exchange The fall in gold how
eve created demand for exchange aud rates improved
under the tho effects Of which gold became rn again.
The last statement Of the public debt show that the
Treasury held on the 1st instant $101 03l In coin
OF which only $50 represented certificates Of
deposit has mot been without moral influence in check
ing speculation for RISE and increasing the short'
interest The transactions during tho week have been
unusually heavy is shown by tho cearances at the
gold bank and vc-sixhs OF the entire business probably
| came from the bear side.
The foreign exchange market moderately active,
and there was good demand for sterling bills from inn.
port for remittance By Saturdays steamers At the
close It was firm tho following rates:Bankcrs' bills
on England, st sixty days. losx y; At thrca days.
1924 VI commercial bills los 1851; francs a. sxy
days six $40; at three days, 514i a617k; bills
~
on Berlin, Tx 72H; on Bremen, 7SH X; ON Frank
fort Il AK; on Amsterdam, l0I AN; on Ham
burg, s6X seH; on Antwerp, asX aeK.
The dry goods and the general merchandise markets
have been duh and declining during the week, ana buy
| ers are careful mot to do more than supply
| their current necessities. Tho failure OF the
Tariff BILL except as regards wool and woollsns,
occasioned disappointment among the largo holders Of
goods upon which proposed to raiso tho rates OF
duty. and . corresponding depression has followed
There was an active movement In the removal Of wool
lens from bond preparatory TO tho new Law going INTO
force and this has been the main cause oi inc n
.rsasa In the customs receipts Raw cotton declined
about two cents per pound in consequence OF the De
preston in tho English MARKET the limited domestic
demand and the decline in gold In no respect has the
promise Of the previous week been sustained In any
department OF trade and merchants are trying 70 BE-
Ike Mark Tapley, jolly under discouraging influences
The highest prices Of the leading stocks SOLD attne
-. ..,o, or tba Exchange on each Saturday Of the