The New York herald., 1867-05-24
FINANCIAL AND COMMERCIAL.
THusspAr. Msv asspr

M4 THURSDAY, Nay ass r. II
Tho railway share market has besn further depressed
to-day. and very unsettled feeling prevailed among
all but those Of the professional spectators who are
prontng BY the decline. There is evidently not sun.
oent ssrength on the bull to foros steady rise and
n the absence or this the ranks Of the bears arc re-
cruitsd BY the great mass Of 'thrss and q shilns'
brokers' and the small fry Of the generally who
prefer selling short to buying for the simple reason
shat they require money carry stocks and little or
none - sell them in the market described. The
outside public look with apathy. being distrust
fu 70 launch their skin on such reacherous tide; and
% the work cR Generalization goes on. Much Of this,
Of course due 70 the brokers and professional spscua-
tors Who have been largely the bear side since last
October and Who have consequently been depreciasng
the value OF stocks 10 the Of their ability in order
sarch themselves q the expense Of legitimate ssook
holdera The public is deferred BY what 1t from
specializing in railway shares buying them for invest
msat and notwithstanding that, the prevailing belief
among investors IL thai they cheap and the fact that
the nss earnings Of the leading railways are in most
instances considerably larger than they were at this
tins iass ysAE With the certainty Of abundant crops
however and revival Of activity in general business
which likely 70 suceeet it the railway share market
hardly aii 70 improve the earnings OF the rail-
vays iacrsase but meanwhile the prospect is rather
dubious and many Of those who would be buyers II they
wers anything are TOO much discouraged by frequent
disappoiatments 70 about haxarding . throw Of
dice the Stock Exchange. According to all accounts
the crops likely be very abundant and within six
weeks the result win be easy to calculate
The gold market was firm at the commencement Of
business. with transactions at 1857. but II subse-
quentiy weakened 20 1885, under contradiction
Of rumon Of failures At New Orleans which
were previously circulated, ana the closing
vVdo
supply ofooin delivery loans were made without
interest and at from 10 five per cent for carrying
The gross clearings amounted to $766sSooo and the
gold balances TO eS2 rejecting enlarged vol
ume OF business The steamer Bremen took out $40
in spece the New York s2Oo0o and the South America
Trio Janeiro) $40, 100.
Money continues in abundant supply and loans
made freely at i've per with exceptions at six
mixed coilaera and four and Ave per govern.
ments. The demand from the Stock Exchange Is lin
tted owing both to the dulness OF business and the
facility with which stocks loaned. In the discount
line the Of first class commercial papor Offering
y very light, and whatever offers passes at seven per
cont ana in some instances at half one per cent
below IT, At Chicago business is reported very dull and
che demand for money Is only moderate but notwith-
standing signatures closely scrunized at tho banks
and outside names sntlroly ignored The dow Of
currency is still from West to East and New York funds
good demand the rates being par buying and
tenth premium selling 8Ns
Al the nrst regular board the railway share market
was Gull and heavy. Now York Central closed y lowor
than At the time yesterday; Erie IA, Reading
u. Cleveland and Ptsburg x, Rock Island u, North
western x, do preferred u, Fort Wayne X, Milwaukee
and 81 Paul preferred u, Ohio and Mssssppi certin-
oasss ~ Pacific Mail x, Boston Water Power ss. Gov
srusat securities wore quiet, and coupon vetwenttcs
Of leol and 1886 declined VI while the Of the
list was steady. Among The STATE stocks Tennessee
sKss Of the now issue advanced and Missouri SKIES X
subssqusaiy Erie declined to 59K, and the market gen.
orally wss spirislsas sa ~
At the haf-past Two board however, thsrs was 10.
eds1 cnasgs for ts better owing in part the demand
soovsr shorts put higher figures Erie closed
q higher than q the first regular board, Michigan
Southern y, Rock Island n Ohio and Mississippi
tinoases Y. Milwaukee and 81 Paul preferred was 4
lower, Pacific Mail . Government securities
neglected and coupon hve-swsntes Of 1864 advanced
Tssnsssss ssais sixes V higher There was less
Armnsas afsards and the hapast three open board
Erie ssld q COX n; Hudson, lol; Reading, loSx
q 10; Michigan Southern 67 Illinois Central, ll5a<;
Cleveland and Pttsburgs 7sA; Northwestern 3sx; do
prsssd Ssx; Fort Wayne. "a During the rest Of the
sfsssnoon ths narkss dull and quarter 70 SIX
O'Clock he following quotations current :-Nsw
YsFk Central, s7xa u; Erie, sex X; Reading losx
Q n; Michigan Southern, esx NJ Cleveland and Pitts
burg, 7sa q; Rock Island. SIX e; Fort Wayne. ssx
eex; Northwsstsrn, 335s q; do. preferred, 6s1S
X; western Union Telegraph, 42H sk Ohio and
Mtssissipp certificates, ~ . 1.
osvsrnmsnt securities closed steady at the subjoined
quotations :lssl coupon, NIX liz; do. registered
my III; $40 coupon, 1852, l00x X; do. 1854,
losX Q; do. 1856, 1909 X; do DO, new issue, los
*; fe-4o coupons sek ~; s1o notes, nrss series,
loex . ~; do, second series, 1855 . X; do, third
ssr,es, lOsx y.
The foreign exchange market continues nrm, and bills
ere IN demand Bankers bills ON England at sixty
days we're quoted at l097s ITO; three days. 1l0
llO,,; commercial bills, 1867. alook; bankers bills
Paris 1t sixty days. 5lcli SIS; at three days sl2
$40; on Berlin 72sz; Bremen, 7ss1; on Frankfort,
Al,I; On Amsterdam. AK Hamburg, sax IS; on
Antwerp. 6.13a< sl2A.
Consols are firm in London, while American securities
are slishtiy lower in sympathy with the advance in
gold the quotations being
klyl5. Nay II. Nay o.