The New York herald., 1867-04-11
FINANCIAL AND COMMERCIAL.
WEDNESDAY, April 10 eP. y.


was very strong and heavy = Short" interest was
created In addon that previously outstanding, the
@extent OF which must be large II we may judge by h
deliveries OF the speculative railway shares
The tone Of the European advces, together win the
reported failures in the cotton trade In England un-
doubedy aggravated the weakness OF the market IN the
absence OF resistance from The bull side should De
remembered however, that this country would DO
rather q gamer than otherwise by foreign war OF
magnitude, in that event our exports Of produce
would be stimulated and with it the traffic OF our main
lines OF railway extending westward Towards the close
or business decided IRON The extreme depres
SION place. and there were some symptoms apparent
OF heavy buying for well as to cover shors Tho
decline has heavy that quick partial recovery
would seem TO be Inevitable The supply Of money
easy At sew en- per fair coateras and ordinary
margins that 1t was in nowso owing TO the pressing
want Of monetary facilities that the market suffered 90
severely. There exceptional transactions
above the legal rate reported, and the banks
expressed confidence in gradual increase OF the supply
Of capital available for the Stock Exchange. In
the discount line there moderate degree OF activity
and aIst GLASS commercial paper passes at q s per
cent M sc t4SSsss1 ssrlst tseenntF
At the early session OF the open board the stock mar
kes unsettled. New York Central sold at 994 n;
Erie, t4ss q; Reading, 99jz x; Michigan Southern,
s75s 6s3s; Cleveland and Pittsburg 69s . u; Rock
island, se1s e; Northwestern, 3lX So; do. pro-
ferred, SO sax; Fort Wayne COX "; Atlantic Mall
", Marposa preferred, ls}l 2o>s;. Western Union
Telegraph, 36H AZ.
Al the Dst regular board there strong pressure
70 SELL and Of the Western declined rather
heavily, Cleveland and Pisburg being especially weak
Among the mscelaneouS shares Western Union Tele
graph declined to 3ots and Atlantic Mail TO a. New
York Central closed Ia lower than at the time
yesterday; Erie q, Reading lX, Michigan southern
2s, Illinois Central X, Cleveland and Pit.sburg AZ.
Cleveland and Toledo lH, Rock Island IL, North
western pa do preferred IL, Fort Wayne lH, Ohio
and Mississippi certificates r. Pacific MaDlS, Atlantic
Mail 8, Quicksilver lk, Canton IN, Marposa pre-
fered II, western Union Telegraph az Government
securities we're unatered coupon fve-twenes OF 1892
excepted, which declined H. Tennessee sxes were X
hover.
Az the one O'Clock open board the market active
but steady, the demand being equal TO the pres
sure 70 sell New York Central, 98Z 90; Eric, SAX
n; Hudson, 1885, Reading, os4; Michigan Southern,
GIN n; Cleveland and Pttsburg, 671 v; Cleveland
and Toledo, 49, Rock Island, s63I u; Northwestern
01x h-do. preferred 5sx . SO; Fort Wayne, s9x
90 Milwaukee and ST Paul preferred 50; Pacific Mail,
l2oh . y; Marposa preferred, I9JS; Western Union
Telegraph, s8T 81.
A. the halfpast two regular board the market became
weak again under vigorous hammering, and Cleveland
and Ptsburg declined to 65x, New York Central closed
lx lower than the first regular board Erie M Read.
ing Michigan Southern La, Cleveland and Pittsburg
~, Cleveland and Toledo l, Rock Island y, North
western 1h do preferred ", Fort Wayne Y, OHIO and
Mississippi certificates e. Pacific Mail u, Quicksilver
Canton u, MAriposa preferred ". Western Union TEL
sgraph advanced lh. Government securities were
sssady..fs als
AZ the halpas throc open board the market became
Armsr, and New York Central sold at ssK II Erie
sax Reading, o71S ss; Michigan Southern, e51 q
-; Cleveland and Pittsburg 65x; Rock Island, S5X
-; Northwestern, S0x . Y; do preferred, SIX AZ;
vovt Wayne, soK y; Pacific Mail, l20A "; Western
Union Telegraph, sex. Subsequently the market be-
came stronger under brisk demand for all
Me leading railway shares, and Il closed with
IN improving tendency at hafpass i've at the
the following quotations:--New York Central, esh
. y; Erie, 6314 y; Reading, 9s4 K; Michigan
Southern, 90 . III Cleveland and rittsburG, so q u;
Rock Island. seK a X; Northwestern, so7s 81; do.
preferred 57K 5S; Fort wa5ne, 90 V; Ohio and Mis-
ssippi oertl6cates, % NJ Marposa preferred 10 20;
Western Union Telegraph, 81 =. Government securi-
t,ss were steady at thu close OF business and quoted
shus -Regisered 1884, 1857 100; coupon, $751; 10SI
100; $40 registered, 1852, 1885, e; $40 coupon,
lso4 1918 lo7H; $40 coupon 1866, 1914 1os $40
coupon, January and July, 1917 ri lo4o registered,
e7x 9s; August $50, log l061S; juno 7-so. 1861
n; July 7-ao, 1861 "
vancsd from 1sls the opening 1888. with the clos
Ing transactions 1874. the kilograms from Europe
this morning being construed warilkc in their
character while in the afternoon the reports Of cotton
failures In England and further decline In the staple
there excited fresh apprehensons, and by causing
advance In The rates Of foreign exchange influenced
I'll the more strongly the upward course Of the
premium At the same Time the temper Of q
powerful section Of the gold room is in favor Of
further rise. and the fact Of the outstanding short in
tsrea being large materially assists tho bulls IN their
operations Is Of COURSE 70 the interest Of the latter
chat every threatening rumor from Europe should be
agninsd into hugo proportions but Il requires TO be
undstood that those spectators a present discount
ing merely possible conngencie namely those Of
and . considerable return Of our bonds from
abroad for peremptory sale In consequences. They
ore, In thus acting upon IN uncertainty,
liable 70 be suddenly dsconcertsd BY news OF more
paonc character although their predictions Of
correct gold win doubtless rss higher whether justified
by the facts Of the situation There q good
Borrowing demand Tor coin, and loans made at 104
l-le Per cent per diem for borrowing, and al per
cent for carrying
Ths foreign exchange market experienced further
advance under the effect Of tho European adviccs and
Clossd very nrm ~ the following rates ankers bills
On England n sixty days, 1oox AZ a three days. ITO
. llok; commercial BILLS l0s 100; francs at sixty
eays, 6lsx . 617K; commercial, 6.i7k aa2lk; at
three days, 6llk Glsx; bills on Berlin, 7lk a n;
ON Bremen, 1sk . 70; On Frankfort COX AK; on
Amsterdam. aox AN; on Hamburg. - sek; on
Antwerp, $50 G1JK. Owing 70 the reported cotton
failures in England and the continued decline Of cotton
abroad bills drawn against regarded with distrust
end prove diGcut Of sale without good city endorse
msnta
BY the following cabls quotations win b. seen that
Consos and American railway shares advanced In Lon.
don to-day, while nvs-twsnties decnned:-
Aprls. Aprao Apr7 10,
f;s::. S;;::: ;;:;;: s:s;: ;ss: II II *
Eds................... SIX sex s7S
Mining shares were dull Al the nrst board Consol-