The New York herald., 1868-02-25
FINANCIAL AND COMMERCIAL.
MONDAY. Fab 24-sp NJ

the advices from washngton The opening transactions
at 1431. following which there was an advance to
la and subsequent decline 10 l42, the dispatches
from the capital having been meanwhile somewhat re-
assuring, the Pres dents Message to the Senae giving
his reasons for Mr. Stantons removal In q concatory
spirit being construed favorably Towards the close
there was an upward reaction and the latest quotation
on the street Was l2k l42x. 1t not then known
however that the House Of Representatives had passed
the resolution In favor Of impeachment by vote Of i2o
to ~, although transpred shortly afterwards Loans
were made 81 rates varying from three TO seven per
cent for carryn. The shipments Of specie last week
aggregated $04.2e4
The stock marks, has bs.n weak and excited, and
there was q steady decline in prices Erie and New
York Central were the most yielding Of the railway
shasss the former late in the afternoon selling At 81
and the latter si l25K. From this point there was a
rally. followed however. by relapse The bull speculs
tors are demoral,zod by the broak in Erie, and the
weakness In this stock has extended throughout the
.is Northwestern common having fallen two per
cent although sixty supposed to be "hard PAM for
It Tho manner In VIII ch Erie has been depressed by
the speculative director and his party has taken the
stree. by surprise, and none more probably than
those who commenced the suits against him which
pending in the Supreme Court 1t was believed at
outset tina, this litigation would put Erie stock up,
holders have horror OF injuncons, however good tho
ultimate results aimed at through them may be,
and hence that which II was hoped would
restore confidence has excited only disrust and
oed the suspended to punish his adversaes BY
involving them in pecuniary lossea There is an I'M
precision abroad however that che suits referred to Will
shortly be Withdrawn, and that ths proposed compact
for consolidation of the earnings OF the Ers the New
York Central and the Pennsylvania Central will be
entered into II impossible that the suits may bs
withdrawn but here is prospect OF the latter agree
mont being sgoed by the Erie directors their policy
apparently being construct the line from Akron
20 Toledo and TO get the Michigan southern Company
to furnish already agreed upon broad gauge line
from Toledo TO Chicago. Ridiculousy low figures are
predicted for Erie and for that matter for every stock
the list within tho next thirty days; but the less
importance there Is attached TO these the better Such
predictions simply show the change which has
taken place 10 the speculative feeling OF the street within
the last week Tho great majority OF speculators from
having been very bulli-h have become very bearish,
and the bear element has been gaining strength daily.
The chet anxiety OF holders Of stocks now is to sell
them, whereas only q week ago every mans wish
seemed to be to adj to the load he was carrying Thus
Wall street rushss from one extreme to another.
The money market was more active to-day than Il has
been for several weeSs and the leading dealers In gov
the general sfor advances mixed collatsrals
six per cant The heavy loss In deposits
shown In the last bank statement has had the
effect Of making lenders somewhat more cautious than
usual In extending thcr loans and holders of stocks
begin to feel distrusfu Of tho future Of monetary
efas; not that sngency Ia apprshendsd but because
IN advance in the Of interest always for the
time being depressing influence on the Stock Ex-
change. rhero is only limited amour, OF first class
commercial paper onerlng and this passes at per
cent We noed hardly say that Tar the condition
Of the loan Market present or prospective, con-
csrned there for apprehension among bor-
rowsrs as the supply is likely TO DO ample. although
the rates Of intsrst likely be ave and six per
cont In the future instead Of four and Ave. in the
Immediate past
Government securities were dull and steady during
che early part Of the day, while nvstwenss Of 1862 ad
vancsd to 11lK but in the afternoon there mod
crate pressure sell, uader which quotations yielded
slighty. despaicn from Washington, published yes
(srday concerning Counterfeit June sevsnthrty notes.
areU appears, out VI the esonsaon at tho Treasury
Of two notes OF thousand dollars each. Of which
had been offered several months aimee for conversion
They belong the old lot which September
81 and are ;sSgslore no! n cry sense new counter
ssitS Al the Close Quotations q subjonsd:-
Registered. 1854, lllsS 1lIA; coupon. 1881, lllH
ll1X; S-2Os, rey.tsrsd, 1862. lo7H los; 5aot
seupon, 1852. IlK lliH; do, 1854, 1osk 1osH
ao., 1865. 1osK io3s; do, 1866, January and july
lo7H 1918. do 1867 lo7X los lo-4o's, registered,
1olk Io1z; 10 40s, coupon los l05,4; June 1905
io7x . lo71.; July 1905 l07H a 1o7,I; Nay com.
pounds, 1854, NIX . lls; Angus, do. lle1< III;
September do. llo ll6H; october do, 1152< 1lgx
~ the comuencelneat Of business the stock market
weak and the early session Of the open board
Erie saes Is 500 sharss) sold at 90 e9 alter being
quoted at 6sss wnie New York Central sold at 12sH
l28x. At the nrst regular board the market active
and steady al about the previous prices. New York
Central closed TX lover than at the Same time on FRI
day, Erie u. Fora Wayne u, Western Union Telegraph
". Michigan southern Was = higher, Cleveland and
Pittsburg l. Cleveland and Toledo 1ys, Northwestern
preferred ~ Pacac Mali TX, Atlantic Mail u. Govern
mont securities we're steady. Coupon fve-twenties OF
1862 we're higher new issue Of 1865 Il, OF
1857 K. Express shares dull At tho open board
at one O'Clock The market was unsettled and weak,
~ the second regular board 1t continued weak and
ctcd at further decline. New York Central closed
lower than at ,ns first regular board Erie la Reading
X. Michigan Southern y, Cleveland and Pitisburx Ia,
Cleveland and Toledo la Rock Island u, Northwestern
preferred 4. Fort Wayne Z. Pacific Mail Il higher
Atlantic Mail q. Government securities weak
Elxes OF 1881 closed lower. coupon nvc twenties OF
iso2 " new isruo Of 1887 u, coupon ten forties a Al
che open board M hail past three prices continued TO
decline and New York Central sold at 1265l;
Ere. o7K; Reading. o2,s; Michigan southern. 30
. ook; cleveland and Piusburs, % e34; oleve.
land and Toledo, los log; Rock Island. 90 . 9ei4;
Northwestern, IS a5s1i; do preferred, 7ix a 7lI.
subsequently in the long there was a somipanc
IKE pfessursto sel and Erie declined TO 81 and New
York Central l2sx. AZ the close At sx ocoek the
quotations sobjoned. the market bsng at tho
ims weak and unsettled sd:-Nsw York Central, 1919 .
l27k; Erie 61H 67x; Reading, s2,< o3; Mich gan
Southern, soys 9ox; Cleveland and Piti,ourg e2's
o2K; Cleveland and Toledo 1861 io5a<; Rock Island
poH 0eH For Wayne, osH . 0s1.; Northwestern,
bsk SssS: do. preferred, 7iH 7lS; Pacific Nal,
11ox 11oX; Ohio and Misnssippi certificates. 29<
a0,., Western Union Telegraph, 33x a 33,s
The foreign exchange market was dun and bsnkers'
bills on EnglAud ., sixty days qu-tcd at 1oos<
In. thras daxs Ito 1lQax. nnercIa hiIIa 100