The New York herald., 1867-04-04
FINANCIAL AND COMMERCIAL.
WEDNESDAY, April 3-e P. n.

FINANCIAL AND COMMERCIAL.
WEDNESDAY, April 3-SP. N.
The soek market remains extremely dull and heavy,
ewing 70 the continued scarcity OF money and indica
items not wanting that artificial means have been
employed 10 aggavats the present condon Of monetary
affairs with view 70 further decline in railway shares
"A strong sbsar" combination has been u work during
the laa few days. their operations being based the dis
turbance resulting nom the making up Of the quarterly
OF the national banks Il Is reported that the gov
srnment has been drawing upon it, dspositares bat the
drain om this source hardly be equal the return
new from the interior The balances of the country
banks In New York drawn low before the LIST OF
April, and - the necessity which caused their with
drawa longer exists 1t is only reasonable look for
opposite about IN equal extent and the
drafts Of the government upon its dsposariss for
hte time 70 likely be met in funds already
removed from this centre
There was, on the whole, . more active
demand for money to-day than yesterday,
and although the general rate for call loans
was seven per cent there vcre exceptional
transactions at seven per cent and commission and
he legal rate gold few loans At SIX per cent made
ON government securities, ara however, still outsand
ing with the large deaera Commercial paper is in
moderate supply, but owing 70 the high ntes paid for
money call II is less in request and per cent is
charged in some instances for discountng first class
names The banks however, take such Of their GUS
toners paper considered strictly pronc at 7as
per cent
At the ten o'clock open board the marpet was ex.
tremsy dull and barely steady New York Central sold
q 1861; Erie s.; Reading, 102; Michigan Southern
52x; Rock Island ok; Northwestern, 35,S; do pre-
ssred. e4K y; Fort Wayne, o2x COs) lex d.
At the rst regular board the market showed yielding
tendency, although there ssence Of pressure to
SELL except in Pacific Mail which declined to 1854 New
York Central closed X lower than at the yes
terday, Erie u, Reading Y, Michigan Southern x,
Cleveland and Ptsburg X. Rock Island Northwestern
y, do. preferred Y, Fort Wayne y, Pacific Mail @ Mari
posa preferred L Western Union Telegraph r. Govern
mont securities inactive but steady in tone State
stocks were unchanged.
Al the ono o'clock open board prices showed a
further decline. New York Central sold at 104
l0l1; Erie 571S; Reading. 10lx; Michigan South
ern, TAX; Cleveland and Pittsburg, Tx; Cleveland
and Toledo 12oK; Rock Island, o0 y; Northwestern
Sax IS: do preferred, % c4x; Fort Wayne. o2x
Toledo, Wabash and Western, ss,l Pacific Mall l26X
127; Western Unien Telegraph. 41H.
At the halfpast two regular board the market con.
tinued heavy. New York Central closed TX lower than
st the nsst regular board, Erie l. Reading ~ Michigan
Southern y, Cleveland and Pttsburg H. Rock Island r.
Northwestern Y, do preferred !, Fort Wayne n Ohio
and Mississippi certificates y, Pacific Mail r. Govern.
ment securities sympathzed with the general Market
and coupon Avstwenes Of 1862 declined " tenforties
x. Missouri sixes were lower, and Tennessee SKIES
Of the new issue n
AZ the three O'Clock open board the market was weak
and prices declined. New York Central sold as los
loek; Erie. Scx X; Reading, 1olK x; Michigan
Southern, II 7lk; Rock Island, sex s9x; North \
western, saX %; do preferred e2K =, Fort Wayne,
slN ~; Paciac Nail l2e ehio and Aasissipp Ssrn-
catee, 26x. ~. s,e -t-s se ss,sa,
subsequently there an increased pressure 70 SELL
under the that money would, be scarcer tomor
row than was to-day, in consequence Of the docking
up OF eenbacks by the bears In order 70 force sales
q The speculative securities Tho decline was
quick and unsxpectedly heavy, and partook Of the
character Of semipanie at ono time, all the rail-
way shares suffering equally. The movement was
evidently the result Of bear raid aided the fears and
monetary necessities Of Of the bulls Al halfpast
ve the market steady At the extreme Decline the
following quotations being then current:-New York
Central, 1o2k y; Erie, sS,< Vi Reading. 1olH Ak;
Michigan Southern, 7oX vi Cleveland and Pittsbure,
7ok "; Rock Island, SSX . X; Fort Wayne. Ok
AZ; Northwestern. 3sx X; do. preferred. e1K ax
Western Union Telegraph. II ak; Ohio and Missis
Gppi certificates, 2ox AZ. From such point Of de-
preston as this sharp reaction would seem 70 bo
inevitable even In the present condition OF the
money uOtceaD0 toet class houses
have had dinculty in supplying their wants during
the last few days. notwithstanding that highly specua
tive firms and others Of inferior standing have been
somewhat embarrassed by the shifting Of loans.
The gold market was dull and heavy notwth-
standing the active borrowing demand for
coin, which caused loans to be made at
rates varying from 1s2d to a-s2d per cent per diem.
In Of the lender The price declined steadily from
l34X at the opening to 1881 the close sales just
previously having been made at 1881. The demand for
customs duties averages about half million day, but
there s little for export the rates. Of exchange
being below the shipping point The steamers which
sailed to-day took out specie.
The foreign exchange market inactive but steady
Bankers bills England, at sixty days. quoted At
1oeX 100; at three days, 100 l0ox commercial,
10e . l0sK; francs, at sixty days. b1el< 62oi<; At
three days, 513x Is; bills Berlin. 7lk u;
Bremen, 7sk 10; on Frankfort lox Il; on Amstsr-
dam, loK AK: on Hamburg, 30 . 36l<; on Antwerp,
40 t1Sx.
American securities are steady on the London Stock
Exshangs, - The following quotations indicale:-
Seis0is; sv:.s.:niiss " gs ss ss as
Ero. iva JtA Il 38Z
Illinois Central. 7sz 7Sx 78X
Mining shares were heavy, with the exception OF Ala
media SILVER, which was strong and advanced 70 50 IS
under rood reports relative 70 the companv,s aaira