The New York herald., 1868-05-15
FINANCIAL AND coMMERc cIAL.
THURSDAY, May l4-eP. n.

FINANCIAL AND COMMERCE.
THURSDAY, May L-eP. n.
The gold market has been quiet but strong to-day,
and its extreme range was nom 1904 TO 140A. with
the closing transactions at 1SsX. There was
moderately active borrowing demand nor coin, and
loans were made at per cent for carrying. The
gross clearines amounted to e2b es2 900, the gold
balances to $3.50, s02 and the currency balances to
g. s5e 2e5 The steamer New YORK for Bremen took out
e2s7 200 in specie and the Morro Castle for Havana
els5 making the export thus far in the week more
than 81, 100000. The Rising Star, from Aspinwan,
brought 22l in treasure and thegovenment sold
about 100000 In coin. The disbursements In pay
ment Of the May interest on the public debt and the
customs receipts have been nearly equal in amount
during the last few days. The payments yesterday
aggregated 900 and on Tuesday 100000. The
receipts In this city for the ten months ending
April 80 last were according to the ocia returns
e9 against $lo2 3Ss for the corresponding
period in the previous year. and Sill l2s for that
IN 1866. For the six months ending with
December, 1861, the receipts were $64 7slsol.
In January they were . little more than
seven millions; in February, nine millions
and o half; In March, eleven millions, and In
April ten millions. The disposition Of most OF the
sold spectators during the forenoon was to discount
the removal of the President but afterwards specu-
lation in this direction languished. and opinions
were verv much divided a. to the probable result OF
the great State trial.
The money market continues to gradually grow
easier, and loans arc now made freely at six per
cent seven being entirely exceptional rate. The
banks are still in receipt 6 currency from the coun-
n.y. and the demand for loans and discounts is not
safficient to absorb the supply Of bankable funds
The Treasury purchased about 4650,00o Of seven
Nuriu tha Hav tO-yn tho Mov
compound interest notes mature to the amount OF
about twentyfour millionA The Assistant Treasurer
win pay the principal and interest Of such Of these
are held by the banks in three per cent certificates
and they win be the gamers thereby In point Of re-
serve to the extent Of the accrued interest.
The stock market has been variable. During the
forenoon it was very firm and prices improved Erie
selling at 7Ox v0, but afterwards there were free
sellers at the advance and the tendency was down
ward until late In the afternoon, when It became
steady There was some pressure to sell Fort Wayne
BY investment holders, but the clique bid the
price up about one per cent for speculative
c5eot in the face oft stockholders are beginning
70 understand that stock upon which ten per cent
dends are paid ont Of the proceeds Of sales of
stock s little better than fraud upon the public,
and that such policy II persevered in win ulh-
Dately leave the stock hopeless OF any dividends.
Late In the day 1t was rumored that the Pennsyva-
Ma Central Company had bought the Pittsburg,
Columbus and Cincinnati road extending from Pitts
burg to Columbus and from Columbus over the
Columbus, Chicago and Indiana Railway to Chicago
thus making short, direct route from New York
and Philadelphia, via Pittsburg, to Chicago.
There was q large business transacted In govern
ment securities during the early part Of the day. and
pSices advanced Q n per cent but subsequently,
the market became dull although 1t remained
Ifa unHo "a drrn II
the settlement Of the impeachment question in order
to experience material Improvement. The Assistant
Treasurer continues to purchase seven-thiry notes
to much larger amount than he sells gold and in
Ais way the currency balance In the SubTreasury is
Being gradually reduced, while the supply OF loana-
bic funds in Wall street Is c0rrespondngly increased
1he tendency towards lower rates for money Is an
important element in estimating the course Of United
States st0cks and already balances are left with the
leading dealers In some instances at five per cent
A. the close the market was firm at the following
guotations:-Regtstered, 1881, 113H 1l3X; coupon,
1881, llsX ia; 62os, registered 1867 1oex 1Oek;
S2o's, coupon 1852, 1851 1osx; do, 1854, 1o7 q
no7x, do. 1885, 1o7k lO7x; do, 1885, January and
DULY, loeh 1osx; do, 1851, 1Oox o 1osx; 1o-4O's,
registered, 1o3h 103x; 1O-AO's, coupon, losx a
acsx; June 1905, 1o7x 1o71; July 1905, 1o7k
1e7x; May compounds, 1884. I19,I; August do,
1te; September DO, l17k; October do, H.
AZ the commencement OF business the stock mar
ket was dull but rm and at the early session of the
open board prices were about the same as at the
close last evening. Mr.. J. T. winchester was elected
member Of this board yesterday. At the first regu-
lar board however although the volume OF business
was light, quotations improved slightly and the
speculative feeling was somewhat stronger than
usual OF late. The party manipulating Fort Wayne
ed up In order to check the sales by outside in
vesors but this device toe transparent to inspire
confidence among stockholders who have regard to
0e real value Of the stock only New York Central
closed higher than at the same time yesterday,
Hie y, Michigan Southern TX, Northwestern pre-
sered ~ Fort Wayne X, Ohio and Mississippi "
Pacific Mail n and Quicksilver ~ while Northwest
Gn was lower. Government securities were
strong q an advance Of eighth per cent. At the
open board as one O'Clock prices were without mate
Siai cnange and there was moderate degree OF
activity tn the dealings although the market was
without any special feature. At the second regular
board an unsettled feeling prevailed and prices were
generally lower, especially for the express stocks
New York Central closed Y lower than at the first
regular board, Erie =, Ohio and Mississippi u and
Pacific Man Y, while Michigan Southern was a
higher, Northwestern u and Fort Wayne u. Gov
ernment securities continued strong but dull
and in some instances prices were q fraction
higher At the open board at half-past three
The express stocks experienced further decline
Of TX per cent, while railway shares were
siso slightly lower Erie selling at COZ and New
New York Central at 12sk A further fractional de-
chne TOOK place after the call, and during the re-
mainder Of the afternoon the market remained dun.
~ she close al quarter TO six O'Clock the following
quotations were current-Pacinc Mail, Ok el1i:
oh'o ana Mississippi, 2esS 2e'l; Western Union Tel
eeiaph, ~ asI; New York Central, l2sx q 12sx;