The New York herald., 1868-03-29
FINANCIAL AND COMMERCIAL
SATURDAY, March 2s-e p. N.

me gold market has been firm but quiet to-day,
and the fluctuations were from 1851 to 1887, with
the closing transactions at the latter price, Ten per
sent per annum and 1-S2 5-64 until Monday were
paid for carrying coin The gross cearngs amounted
70 000 the gold balances to So OFT and the
currency balances to ss2l0, s44. The shipments OF
specie fom the port to foreign ports for the week
aggregated $556,675.
There was marked abatement OF the recent strin-
gency In the loan market especially towards the close
Of banking hours, when balances were offered at
seven per centin currency, although during the FORE
noon there was a moderate inquiry among the pri-
vate bankers at this rate In coin. This change for
the better was owing to the light demand from the
Stock Exchange and the general desire to employ
capital over tomorrow for the sake OF the two
days interest involved In loans made on Sat
urday, and 1t by no means foreshadows an
easy condition OF local monetary AFFAIRS
next week. The Sub-Treasury Is not contributing
materially II at ALL to increase the floating supply
sfoanable funds, the effect OF It's daily purchases
OF seventhrty notes is neutralized by sales OF gold
The conversions OF seventhirty notes into bonds at
the Sub-Treasury during the week ending yesterday
were as subjoined:-
March a. .... 1882 $50 March 500, $50
March 22....... Asst $50 March 90. 269, 5o0
March 24......... $3.50 March 27..... 42s,2oo
The stock market responded to the change referred
Erie particularly advanced the prices Of these
ahares considerably. The rise to 72A in the
hast mentioned was stimulated by a report that
governor Ward, Of New Jersey, had vetoed the bin
giving corporate rights to the Erie company in that
6tate but this would seem to have been invented for
speculative effect, as no confirmation OF 1t has yet
been received. It is generally believed that the
hiure Of the Railway Committee Of the Assembly to
Heport the bill egazng the acts Of the Erie company
ends the matter so far as the State Legislature Is con-
serned but this impression needs correction. bill
- the effect has been introduced In the Senate,
and the action OF the Legislature with regard to it
WIN not be prejudiced by what the committee Of the
lower house has done under the influence, 1t is
alleged, OF large expenditure Of money In the Gen.
tsal interest.
By despatch from Des Moines Iowa, it transpres
that the meeting of the directors Of the Chicago,
Rsck Island and Pacific Railway Company, to
which we referred yesterday, was held at
Davenport, in that State, on Thursday Sew
eYal designations were accepted, we are told,
and the vacancies filed, the majority Of the
board being now Illinois and Iowa men, who are
parties to any Of the suits pending in the courts
Of this State. The act OF the Iowa Legislature re-
Gently passed with reference to the company and
the extension Of che line to Council Bluffs was
septed, and the certificate OF acceptance was filed in
the office of the Secretary Of State In Des Moines BY
this the directors agree to begin to build the
tension line Immediately with the proceeds Of the
sale of the new stock thrown on the market by
Nessrs Tracy Dows a few months ago.
The statement OF the associated city banks for the
week ending to-day proved to be less unfavorable
shan generally expected from the severity Of the
Jecent monetary pressure. The loans show q de-
crease of s4,O3s6oo the specie of 1900, the de-
posts Of $4,000, 600 and the legal tender notes OF
s1sooOo The totals OF the present and last previous
afafamant, ara as foljnwo.-