The New York herald., 1868-03-25

for the Vanderbilt st0cks which the public and the
street are alike afraid to hold, owing to the arti-
ncally high prices at which they are stil selling, and
New York Central closed ~ lower than at the first
regular board, Erie SO, Hudson River TX, Michi-
gan Southern " Cleveland and Pittsburg u, Cleve-
land and Toledo H, Rock Island X, Northwestern
preferred 3s, Fort Wayne y, Milwaukee and St.
Paul l, do. preferred ], Ohio and Mississippi u,
and Pacific Mail y. Government securities were
steady at an advance Of x. After the call Erie de-
cined to 81 and New York Central to MY, but at
the last open board more settled feeling prevailed
and Erie recovered to eSA 6s,s, New York Central
to 1855 1lS, Rock Island to 91Z, Reading to S9s,
Michigan Southern to S77 Northwestern preferred to
74x, and Western Union Telegraph to 33X. Afterwards
the bull cliques further rallied the market to avoid
panic, but there was no substantial for the i'm
provement and at the close, at six O'Clock, the fol-
lowing quotations were current, New York Central
having previously sold at 12O:-New York Central,
119,S l19h; Erie, 6Szs co. Reading, s91s S9ai;
Michigan Southern, IS q SSH; Cleveland and Pitts
burg, Ok a slsl; Rock Island, s1sS 917s; North
western preferred, "a 74,s; Pacific Mall 297s 297;
Fort Wayne, 1Olx 1O2.
The railway committee at Albany this afternoon
resumed the hearing of the argument for and against
the bill empowering the Erie Company to make ar
rangemens for the opening Of through broad gauge
route from this centre to Chicago via the new Akron
and Toledo branch and the Michigan Southern line
and otherwise legalizng its recent acts and there is
no good reason why it should not become q law
while there are many In favor Of its passage Bribe
ry and corruption are, however, much the rule in
our own in common with other Legislatures, that its
success or failure depends in a great measure upon
the amount of money expended to accomplish the
one result or the other. If the Vanderbilt party
Is prepared to pay more than the Erie the bill
may be defeated, but otherwise it is safe to infer
that 1t will pass. The Erie board claim that they
have not violated any law, and that therefore they
have no need Of applying to the Legislature for the
egazation of their acts except to decide the pend
ing suits against them and the text of the statute
under which they recently issued convertible bonds
reads as f0ll0WS:-
An act to authorize the formation Of railroad cor
1850.
to borrow such sums of money as may be necessary
for completing and finishing or operating theG EAll
amount SO borrowed, anu to mortgage their corpo-
rate property and franchises to secure the payment
OF any debt contracted by the company for the pur-
poses aforesaid; and the directors of the company
may confer on any holder Of any bond issued for
money borrowed as aforesaid the right to convert the
principal due or owing thereon into stock of said
company at any time not exceeding ten years from
the date OF the bond, under such regulations the
directors may see lit to adopt.
1Hc foreign exchange market was weak, owing 10
the condition of monetary affairs and the consequent
absence of demand for bills. Some Of the leading
drawers asked 1905 for sterling at sixty days, but
second hand prime bills offered at 1091S. The
supply of cotton and ordinary commercial bills is
moderate, and for the time being they are slow Of
sale unless ut concession from the current rates.
Bankers bills on England at sixty days were quoted
at the close at 1oo3S 1ool; at three days. 1o97s
110; commercial bills, 1OSH a 100.
The receipts for customs and the receipts, pay
ments and balances at the Sub-Treasury in this city
for the expired portion OF the week have been as fol-
lows:
custom House. -Su0- -7redsu7y.--
Receipts. Receipts. Payments. Balances.
March 49, s65s s61 $297s,014 $196l,2i2 $100Sfs i07
March "a. 100000 1,74l,sS1 1,l36,ssS 1ol 453,o94
The value of exports exclusive of specie) from New
York to foreign ports for the week ending to-day is
s1,946,37s, against 4,o52,9 ,946 the week previous.