The New York herald., 1868-05-08
FINANCIAL AND CoMMERc cIAL,

Eatey active, 1ts rising tendency being attributable
10 q growing belief that the President win be re-
moved from once, and that under Ben Wade we
Bhan enter upon new era Of currency innation.
Ghe high rates OF foreign exchange and the large
pecie exports at the same time contribute to like
Asult The fluctuations were from 1sex to ls9X,
tth the closing transactions prior to the adjourn
aent OF the board at 1897, following which sales
efe made at 1898, this being the latest price cur
kept In the room. There was o superabundant sup
Ply OF coin, and per cent per annum was
Palo Tor carrying It, The shipments OF specie
Eere larger than usual the steamer Union for
remen having taken $S5O,OO0, the Siberia for Liv-
fpool 1921 TAO and the Columbia for Havana
1900, making thus far in the week total Of about
Two millions and three-quarters. The Sub-Treasury
Risbursed nearly half million In coin during the
gay In payment Of interest, and as yet but
little more than half the amount payable in
&his city has been drawn which indicates that cou-
Don holders anticipate higher price for gold the ad
vantage Of allowing to remain uncoected being the
qavng OF interest which would otherwise have to be
patd for carrying 1t. The Treasury bid 107s< for
0even-thirty notes and sold about $3.50 900 in gold.
y The suspense with which the progress OF the i'm
peachment trial IL watched and its result awaited
Rontinues TO hold speculation in check the Stock
Exchange, for neither the bulls the bears display
my boldness in their operations although the for
hAr sanguine Of decided change for the better
y soon Us the verdict Of the court Is made known,
ghether it be for the acquta or the conviction OF
h0 President. Meanwhile the cliques in some of the
western shares are quietly moving them upward,
lthough 1t would bG rash to infer from
this that they will continue rising or that
Mhey are worth what they are quoted at A .sbur,
povement in Erie and New York Central will, it is
ad, be the next sensation in preparation for which
HpeSe st 'cis were made to appear weak this after
}oon for the purpose Of enc cOuragng O "short" in
Eerest bat Is Is obvious that whatever advance may
aKe place IN their price will be irrespective Of their
SeA value They are, however, in the hands Of par
tes who can do whatever they like with them. These
Hques have enormous interests at stake and having
feached season Of the year when monetary ease is
assured and when the earnings OF the railways are
4lways larger than In the winter months they
pro not likely to leave opportunities for serving
Sheir OWE interests unmproyed. The money market
y eraduaily growing easier, and loans were made
treey tOIay to borrowers in good standing at six
per cent oa mixed collaterals, the transactions at
eeven beng exceptional while first class commercial
paper OF which the supply Is very limited was taken
Nt1a7!l per cent discount. The banks are daily in
$ecept OF currency from the West and the interior
GENERALLY. and the money employed in making the
payment usual and about The 1st OF Nay is return
ing to the ordinary channels Of circulation, from
which i; IS 70 be inferred that the next bank state
4nent VII snow further large gain in deposits and
Srculati9n while the prevailing dulness on the Stock
Exchang. IS against an increase Of loans The quiet
pate OF .rade throughout the country at the same
time maj IS the mercantile demand for money light.
An actsc fall trade is, however, looked forward to
owing to he promising crop prospects, larger
40 land tan usual being under cultivation this year.
Ehe fnnaijonsts of the West viii probably make use
p1 this IA an argument in favor OF the necessity of
more Gu fency to transact the business Of the country
with, am IL the leaders of political opinion are to be
believe sic West will be gratifed in this respect
whether dr. Johnson remains in Office or not. For
= time, SAerefore, in that event, trade, new enter
Prises a1l speculation will he greatly stimulated,
ma In the midst Of the temporary prosperity thus
0feated he ultimate reaction will be lost sight of,
but come it will.
Cover oent securities were in good investment
uemani ana the maket for them was strong, prices
having advanced 1 a a per cent upon the opening
prices be ore the close. The foreign inquiry is for
ten-forties, SKIES of 1881 and the lvetwenties of
1S62 and 1865, while the purchases domestic ac-
count OF the later issues of fve-twenties, and
princpal!y those of 1867. The Treasury disburse-
&pents OF the May interest going forward gradu-
tlly, AMI governments only just beginning to
xeel the eject Of these. At the same time monetary
tAse is increasing and the banks and lenders gene.
sally sbo decided preference for this class Of col
Ieteralsso much so that loans can generally be OBJ
tained on them at one per cent below the regular
kates on other stocks Atthe close the following
1he quotations, the tendency being then upward:-
Registerei, 1881, 113h 1l33G; coupon 1881, 1134
vlsx; 5-29's registered, 1862 1864 1O6; 5-2o's,
BON, 49,, l0sk 1855; do, 1864, 106ss 1o6si; do,
SS65 1G! a 1071s; do, 1865, January and July, 100
l091x; do., 1907, 1093s 109H; 104Os, registered,
l03 lOS 1O-4O's, coupon, 1887 1031; June 1905
l07X q ie71a; July 1905, 1917 1O71z; May CON-
bounds, 1894, 119; August do, lis; September do
NIX; October do, III.
I. At the commencement Of business the stock mar
ket was Grm but dun, and at the early session of the
ppen board Erie sold at 7o}S 7oa and New York
Central ~ 1881 1881. At the first regular board
the specu!ave feeling was stronger and prices i'm.
proved, especially for Cleveland and Pittsburg Fort
Wayne and Quicksilver. New York Central closed
n highcr han at the same time yesterday, Reading
K, Michigan Southern 4, Cleveland and Pittsburgh q
Northwc stern a preferred Il, Fort Wayne IL, Ohio
0nd MISS issippi x, Pacific Mail u, Quicksilver "a
Ind western Union Telegraph y. Missouri SKIES
Mere active and advanced two per cent. Govern
ynent securities were firm at an advance Of e. At
the open board at one O'Clock the market was firm
and the western shares were slightly higher, Fort
Wayne selling at 1861, Cleveland and Pttsburg s5K
Ind New York Central at 12s7S. At the second regu
lar board prices showed dropping tendency and New
York Central closed lower than at the first regular
board Erie q, Hudson River t, Reading q, Cleve-
land Pittsburg x, Cleveland and Toledo q, North
Western S, preferred u, Fort Wayne u and Ohio
Ind Mississippi T. Missouri skies further advanced
u. Government securities were strong at an i'm.
brovement OF an eighth per cent. At the open board
St half-past three prices were slightly lower, Erie
telling at 69X coz; New York Central, 12sil; Rock
ISLAND, 04S q OAK; Michigan Southern. SAX
e4k; Cleveland and Pttsburg, s4A q s4H,
and Fort Wayne, 1063s o 1868. During the remain
der Of the afternoon the volume Of transactions
aght, and at the close at few minutes before six
O'Clock the following quotations were current the
marke: being steady Pacific Mail, 93X "a; Ohio
and Mississippi, 81 a 31h; Quicksilver, 3lS 31I;
Western Union Telegraph, 37S 37X; New York
central, 12sx 12sA; Erie, eex ee7S; Hudson
River, 1876 1897; Reading, ooH 9Oal; Michigan
lIal.ia