The New York herald., 1868-03-30


standing that rates varying from eight to ten per
cent per annum and 1872 to lie per diem paid
for having coin carried, owing to the strngency be-
fore noted The feeling among the brokers and pr0fes
siona spectators was rather bearsh In consequence,
and the short" interest increased considerably.
The fluctuations during the week were from 139h to
1377s with the closing transactions at 1885, The
shipments OF specie aggregated little more than
half million, and the demand for customs duties at
the port amounted TO $2,s25,7A. The speculative
business in government securities was checked by
the scarcity OF money and the consequent difficulty
OF carrying them. An eighth per cent a
day was freely paid for turning" them
during the greater part Of the week, and
up TO Thursday quotations were dropping,
Notwithstanding moderate investment demand at
the counters OF the leading dealers. Afterwards,
however, an improved feeling prevailed, under
which prices recovered 4 q per cent, and 1t be-
came evident that, so far governments were con-
cerned the full effect Of the stringency had been felt
There was at the same time good speculative de-
mand on buyers options Of thirty days at one
per cent above the current prices, and there is
doubt that as soon as the supply OF loanabe funds
az per cent becomes equal to the demand gov
ernments win experience sharp upward reaction,
az they arc beyond question: the cheapest securities
in Wall street for the interest they bear Certain II
s that all the railway shares dear in comparison,
and those who buy them do so knowing that
they are sustained bv cques, the with.
drawal OF whose support would result in
q sudden decline Of from fifteen to thirty per cent
and nnumerable failures, those Of some OF the banks
probably among them; hut the market for govern.
ment securities is subject to no such vicssitudes, ana
wise men seek safety in the employment OF their cap
ital.
TIE stock market was heavy and dun during the
early par; Of the week. but it subsequently became
steady and Friday afternoon and Saturday Erie
and New York Central bid up under the news that
the railway committee OF the Assembly had reported
against The Eric bill, and the rumor, probably
unfounded, that the Governor OF New Jersey had
vetoed the bill giving corporate rights to
the Erie Company in that State. The same
Albany bill In a new shape has, however,
been introduced I'm the Senate, and the
end therefore s not yet although Is estimated that
nearly half million OF dollars was expended TO XIII
the former one In committee. Nothing new In rea.
tion TO the litigation between the Erie and Wander
D, parties transpred during the week. II we except
order granted by Judge lngraham, OF the Supreme
Court staying proceedings pending the appeal of the
defendants in the OF schell The Erie Railway
Company from the order OF Judge Barnard appoint.
ing Mr. Osgood receiver OF the proceeds OF the ten
millions OF new stock. The order s returnable on the
first Monday in April and meanwhile unless some
counter order IL issued nothing can be done under
the recclvership.
special meeting of the stockholders OF the Cleve.
land and pittsburg Railway Company was held on
tie 26th inst. when the following resolution was
unanimously offered for adoption by 70,55s votes.
aud the directors are TO meet In New York next
month 20 consider thls recommendations
Resolved, That by and under the provisions OF an
act OF the Legislature OF OHIO Of April H. 1858, tho
directors oi 'hc Cleveland and Pttsburg Railroad
Coupany hereby authorized, at their discretion
10 Increase the capital stock Of the company to the
amount 81 ten per cent OF the present capital stock.
ana 10 divide the same among the shareholders DT0
rdfd on the amount OF stock held by them respcc-
lively NJ this date, as shown by the books Of the
company. and under such provisions as TO fractional
shares as the directors dcem proper.
Annexed is a comparative statement showing the
shipments OF specie from this POI Inst week and
during the year 10 date, together win those for the
corresponding periods IN 1868 aud iS6i.-
isG6. 1867 1888.
Thirteenth week M $3.50 $40 O8e Sj56G79
Prev reported b,3e4, sUa 6o6s,s03 ia611I
Totai ....,.... s5, 38S 3Ot s6,513oil sl4f2l40U
Tho exports tO the CORE spuudinr uprtod an Tho