The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-05-01
FINANCIAL AND COMMERCIAL.
THURSDAY, April ao-eP. M.

$751; 900, the gold balances to s14ao,5l7 and the
currency balances to $2,l7s,s5s. The firm
ness Of the market in view of the disburse.
ment Of the May interest on the public debt
h q source Of disappointment to many of
the spectators, who have been endeavoring
20 promote decline with the Interior oobject Of
Buying largely and then operating for rise. The
Treasury, 1t is understood was not seller OF COIN
The frmness OF the rates Of exchange on Europe
was one cause Of the upward tendency OF the pre-
mium, and there is 10 disposition shown to antci-
pate the result OF the impeachment trial. respecting
which opinions are divided. In the event OF the
PRESIDENTS conviction and removal there would be
nothing to influence the premium materially, one
way or the other, more than there is at present,
except Importance should be attached to the radical
scheme for adding fifty or hundred millions more
to the national bank currency. On the other hand
II the President should not be removed temporary
depression would probably ensue on the STOCK Ex-
change and to limited extent In the gold MARKET
owing mainly to doubts as to whether any imitation
bin could become law with President Johnson in
ONCE the prevailing impression being that he would
veto such q measure; and while there might be a
majority In Congress In favor OF increas-
ing the currency, two-thfrds vote could hardly
be expected. The passage OF the Balcolm resolu-
lions by the State Assembly has attracted very little
attention, their bearing upon the future OF the
tional debt is too remote to be considered of imme
date importance. The steamer Hermann took out
$87, 800 in specie
The money market continues easy at Z per
cent, with most OF the transactions at the lower rate,
and the ow OF currency from the interior is gradu
ally increasing the supply OF oanable funds at this
centre. The applications for discounts at the
banks are on very light scale, and the latter
accommodate their customers at the legal rate,
while on the street the best grade Of commercial
paper passes at u per cent AT Chicago and
Cincinnati money is in improved supply, and the
demand is falling of. The verdict OF the jury in the
case of the Continental Bank versus the Bank OF the
Commonwealth occasioned some surprise the more
particularly the jury declared the certifcation of
Ross check to he n forgery The hinged upon
a question Of veracty between the paying teller
Of the Continental and the messenger alleged
TO have been sent. by Mr. Cronse TO the
bank to ask whether or not the certi1cation was
genuine. The latter asserts that he presented the
check the teller and that the latter pronounced it
all right, something to that effect, while the teller
denies having the messenger or been shown the
check in question. The case presents grounds for
carrying it further appear
The stock market was dull and steady
during the forenoon following which it be-
came strong ana rather active under the ma
nipulaton OF the cliques, the most marked
advance before the close having been in New York
Central Mr.. James Fisk, Jr., one OF the Erie drec-
tors, recently quartcred in Jersey City, voluntarily
appeared before Judge Barnard this afternoon and
was admitted 10 bali, ana il was minated in court
by one OF the counsel that Mr.. Eldridge, the Presi
dent OF the company, would soon do likewise. The
contest is therefore nearly far the courts
are concerned, and the proceeds of the ten millions
OF new stock having been disposed of by the bill
which passed the Legislature there is really nothing
Nonu N 1nnt Trio oIa iittIo
animation; and although Mr. Drew is in wah street
daily, report says that he is mere 'Hooker-on in
Venice.r
Government securities were active and buoyant
the speculative demand having increased while the
purchases for investment were large. The ivetwen-
ties of 1862 and 1865 bought up by the German
bankers on foreign account for the reinvestment OF
the proceeds of part OF the May coupons by
bondhoders residing abroad. The domestic demand,
however, is mainly for the bonds OF 1867, and as
these have longer time to run than any other issue
Of nve-twenties they are the most desirable invest
ments on the list. The Sub-Treasury issued checks
for the payment OF the May interest to-day, and
about five millions OF gold certificates of deposit were
paid out on account of II. The coupons mature to-
morrow, and their aggregate amount Will be not FAR
from twenty-seven millions. At the close the |
market strong at the following quotations.
Registered 1881, 1l3l4 1915 coupon. 1881 1l3}S
113h; J2os registered 1862, 1855 1863; 52os cou
pom, 1862, 1924 1l2S; do, 1894, 1107S Ill; do,
1885, III q l1Ih do, 1866 January and July loS7s
a 100; do, 1861 1895 1925; lO-io's, registered
1923 a 1903; lo-4O's, coupon, 1885; June 1905
1o7h 1878; July 1905, 1919 a 1878; May COM
pounds, 1864, 11SH; August do, ll71a; Septem-
Der do, III; October do Il61l.
At the commencement OF business the stock mar
ket was dull but steady, and at The carly session Of
the open board prices advanced fraction, New
York Central selling at 1878 127H and Erie at 1884,
At the first regular beard the market was slightly
lower ana the volume of business continued light.
New York Central closed y lower than at the same
time yesterday, Hudson River -, Cleveland and
Pittsburg y, Cleveland and Toledo -, Rock Island
y, Fort Wayne "a, Milwaukee and st. Paul q, and
preferred Is; while Eric was a higher, Pacific Mail
Ia Quicksilver / a, ana western Union Telegraph
y. Government securities were strong at further
advance OF A. 4. After the cali the market became
strong, and az the open board at one O'Clock New
York Central sold al l2s l2sIi Erie at u y, and
Atlantic Mall 40 81. At the second regular board
thefe was no material change In prices, and New
YORK Central closed Ia higher than at the first regu
lar board, Erie 81, Hudson River r. Cleveland and
Toledo IS Fort Wayne =, and Milwaukee and ST.
Paul y; while Michigan Southern was 4 lower and
Pacific Mail =. Government securities were strong
ct a further advance OF 3 a. AT the open board at
half-past three prices We're in the ascendant ana
New York Central sold ut 1855 129; Eric, n 80 ana
Pacific Mail, 90. After the call Pacific Mail suddenly
declined to g03, but recovered TO 81 few minutes
later.
The railway share market remained strong and
moderately active, especially for New York Central
ana at the close az six O'Clock The following Quota
fions were current:-New York Central, 12o 1879:
Erie, 7l,S ny; Reading o)A q 9of; ONO aud
mississippi slK q s1%; Michigan southern, 90 a
BOZ; Cleveland and Pitsburg, s2al s3H; Cleveland
and Toledo, 1885 100; Rock Island o4A o4,a;
Northwestern, 63Js q 6314 ditto preferred, 5j,s .
15k; Fort Wayne, lo3a4: Canton Company 4e& a 80;
Quicksilver, 27K a 27X; Pacific Mail, 81 el5;
western Union Telegraph 81 a 37ii.