The New York herald., 1867-03-13
FINANCIAL AND COMMERCIAL.


TUESDAY March I2-SP.M.
The stock mp1ket has been active but unsettled TO-
day at Intervals and the irregular of Erie
source OF perplexity the street. There frm
towards the Of business and the tendency Of
prices was upward Erie being the only important stock
q, present under manipulation s watched attentivey,
and Its emens regulate the entire railway list The
disposition to buy among the brokers and professional
speculaors Is growing sronger but the outside orders
are very limited The nshorW interest Is however,
large especially in Ee and II is upon the oversold con-
on Of the market that the operators for rise are now
basing their calculations Of profit; and should they
succeed In forcing the bears TO cover tneir con-
tracts, the success Of their movement will
bo assured. The supply OF money is abundant,
although the demand is on the increase ana loans IN
many instances are made at six per cent Seven is
however asked by the banks on any put government
sccuritiea The discount line s giving employ TO
considerable amount OF funds and commercial paper
the best grade passes at seven per cent
At the ten o'clock session Of the open board the rail-
way share market was heavy. New York Central sold
at 1oa 1887; Erie, COS; Reading, lo2A; Michigan
Southern, 53 Cleveland and Psburg 81; Rock Island,
os,s u; Northwestern, 35's n; do. preferred
esq n; Fort Wayne, 05H At tho frat regular board
prices we're lower; but there absence Of any
strong pressure to sell New York Central closed 70
ing /, Michigan Southern N, Illinois Central ~ Cleve-
land and Pi,tsburg 1s Rock Island 1H Northwestern
", do preferred *, Fort Wayne n, Pacific Mail 2a
Atlantic Mail TX, Canton q. Michigan Central was
q higher, Chicago and Alton y, Ohio and Missis-
sippi certificates u. Government securities were
dull but steady in tone Tennessee skies OF
the new issue declined n. At the one
O'Clock session Of the open board railway shares
were generally shade lower but Erie was steady New
~. EnE< u
lo11; Michigan Southern, 72 72,s; Cleveland and
Psburg,> >slA 81 Rock Island, s47s e5; Northwest
ern, s4A; do preferred, e2sl; Fort Wayne, s5,s; At
lantic mal, osH 60. subsequently Erie declined to
57ss in the midst Of much excitement. The fall ap.
peard to be due TO sales the part Of tho combination
manipulating the Stock with view to buying in at
slightly lower prices and increasing tho "shor in
tevest
At the second regular board there slight recovery
from the extreme Decline but New York Central closed
x lower than at the first regular board, Erie 1H Read
ing Il, Michigan Southern e, Cleveland and Pittsbnrg
4, Rock Island n, Northwestern x, do preferred ~
Fort Wayne, u, Quicksilver H. Government securities
were inactive and ten forties u lower. Missouri
sizes declined l, while Tennessee skies advanced u.
At tho hafpast three open beard the market became
frmer and prices adganced Il = per cent.
New York Central sold at 102H y Erie, 5SH =;
Read:ng 1olh 's; Michigan Southern, 715s; Cleve-
land & Pittsbnrg, 81 slt<; Rock Island, s4a T;
Northwestern, 34S; do preferred, 621s; Fort Wayne
95t Erie afterwards sold up to $685. and the rest Of
the speculative shares sympalhzed with the improve
ment At quarter TO six O'Clock the market closed
firm at tho subjoincd quo,ations:-Nev York Central
1921 sS; Erie, 59s5 a Y; Michigan Southern, TAX
sS; Cleveland & Ptshurg, SIX III Rock Island, so4
4; Northwestern, IS Il; do. preferred 63 5s; Fort
Wayne, 95,& 4; Ohio aud Mississippi certificates,
2saM
The gold market was heavy and declined from 1s41s
la the morning 1888 in the afternoon, the closing
quotation being 1881 a 5S. The supply of coin was
abundant in proportion TO the demand than yester
day, and loans made at 1-64 1-S2 per cent in
favor OF the lender till about noon when three per cent
paid for carrying. Tho fluctuations OF the market
now indicated in the gold room by an electrical
machine worked by o gaivanic battery instead
OF tho old one moved by hand The board
timn back made appropriation Of $4,000
to OF It's members pursue HE scientific invcs:2a
tous in this direction, and the result s decided novelty
which tho purpose for which 1t is intended
better than anything hitherto tried Tho is
understood t. have been selling gold Of ato In moderate
amounts almost daily but the principle upon which such
sales made s wrong Congress should pass
law providing that all sal Of the Treasury gold shall
be madc publicly II at all. The proper policy for the
government pursue. however. is to hoard It's COIN
Although the Treasury may be seller TO a limited ex-
tent is not to be apprehended that the money market
will be unfavorably affected in consequences, the desire
Of the department being insure monetary At all
points and especially a. this centre.
The foreign exchange market has been firm but quiet
aud the leading drawers advanced their for sixty
days sterling TO l09 Bankers bills England a, sixty
days quoted At the close at 1854 100; at three
days, 1o9h 1oel; commercial bills los losk;
francs ct sixty days. 6l5 $40; at three days. 1sa<
ol7k; bills on Berlin, 7lz TAX; on Bremen, 7s,<
s9 on Frankfort, Il az; on Amsterdam, 4o5s
4l9s on Hamburg, SO a s6l4; on Antwerp, 20 6I7h
American securities continue firm in London, and the
following quotations for and consos wero current
on the dates mcnioned.-