The New York herald., 1868-04-12
FINANCIAL AND COMMERCIAL.


SATURDAY, April 11-6 NJ.
The gold market was somewhat dropping to-day,
and the fluctuations were from 1857 to 1881, with
the closing transactions at 1857. Loans were made
at Q per cent per annum for carrying the bor-
rowing demand being moderate. The gross clear
ings amounted to 81, OOO the gold balances to
$2sS $685. and the currency balances to $3 9O2
The shipments Of specie during the week aggregated
$s9l s07, Of which than $780, 900 was exported
to Havana. Speculation in the room is without any
decided tendency, and the progress Of the mpeach-
ment trial is regarded with indifference.
The money market was stringent owing in part to
the disrust OF lenders and the consequent calling In
Of loans, and seven per cent in coin paid In not
few instances but before the close the supply was
equal to the demand at the legal rate In currency
on government securities and other first class COL
laterals. Erie is, however, rejected by the banks
and the Vanderbilt stocks are treated with great
caution, In consequence of the litigation and heavy
Wall street operations In which the party controlling
them Is involved. Aheavy break in New York Central,
Hudson River and Harlem is all the more likely from
the fact Of their being quoted considerably above
their real value and there Is no knowing how soon
the experience Of Atlantic Mall may be repeated in
the whole railway share market, which is rapidly
becoming more and more demoralized. Hudson
River fell almost without o sale this afternoon
to 1926 nearly ten per cent below the price 1t was
nomlnally quoted at yesterday. but 1t afterwards
recovered to 12s and this is Of the ominous signs
of the times. With respect to the connection Of
the Third Avenue Savings Bank with Atlantic
Mail stock 1t is satisfactory to learn, as we do,
that its loan 1t limited to two hundred thou
sand dollars, and that 1t holds in addition other col
aterals that 1t may escape ultimate loss thereon.
Mr. S. K Green who has been president OF the insti
tuition since 1885, is no longer director OF the Attain
tic Mail Company he having resigned some time since.
There is no occasion for any dstrust on the part Of
the depostors In the bank in question growing out of
this affair." as the bank has a surplus Of more than
three hundred thousand dollars, while its deposits
aggregate about five millions and half. The trus-
tees Of the institution did very wrong, however, to
make loans on such q stock as this, and the result
will doubtless prevent them from repeating the blum
der; and there are some blunders which are worse
than crimes. The loan on this stock was
made we are informed, at time when
money was q drug at Q per cent,
for the sake Of obtaining seven per cent Interest,"
but the safest policy always the best In the long rum
particularly for savings banks, and they should con-
fine their loans to government securities and real
estate. The SubTreasury is increasing its currency
balance for some unexplained purpose and it Is un-
derstood to have sold about $4,000 Of gold to-day;
but it is reported that it will be buyer Of seven
thirty notes early next week.
The statement Of the associated banks Of this city
for the week ending to-day shows, when compared
with the one for the previous week, q decrease Of
$1S5 166 in loans, $754149 in SPECIE $32 S36 In cir
culation and $1lO4 9ee in deposits, and an increase
Of $272 In legal tender notes. The totals Of the
last two returns are as fOll0ws:-