The New York herald., 1868-03-07
FINANCIAL AND coMMERcIA
FRIDAY, March COP.

FRIDAY. March Cop. n
The gold market has steady but very dull to-day
and the fluctuations from l4lh to 4lH with the
closing transactions At 141k There was moderate
borrowing demand for coin and loans were made at i've
and six per cent for carrying The gross cleArings
amounted 81 75 100 the gold balances to 81 $780,
and the currency balances to $lsi7 la The receipts
Of gold from California in tho first two months OF tho
present year amounted to so0s2.l5S and those from
foreign ports TO $552.4 making . total sup
ply OF $6,634.6o5, while the exports Of spe-
clio and bullion to foreign ports during the
same time aggregated 81, ,553 $50, or $4,9l9,o45
more than the receipts. The publication OF the
statement OF the pubic debt for the month or
February exerted no influence upon the course OF
specaation, although IL shows decrease In the total
amount Of Indebtedness, less cash 10 the Treasury OF
$74S5,75l when compared with the last preceding
statement The amount Of coin in the Treasury has in
creased $sl32 2l2 whie the currency balance has de-
creased S3s24oos The debt bearing coin interest has
increased sIs 1917 s5o whlo that bearing currency In
terest has decreased $3,92i, ,06S.
The stock market continues in o feversh state OF sx.
element owing mainly to the peculiar course Of Erie,
the fluctuations in which during the day were from TX
10 TAX, with the closing transactions at the highest
point touched The bear party in the stock IL offering
no resistance for the time beng 70 the upward move
ment and tho "short interest has been to great OK.
tent "covered" The borrowing demand for Erie is
nevertheless active, owing to tho bull Clique having
withdraw not less, probably, than hundred
thousand shares from the street; but tho
scarcity has not boon sufficient to interfere with
the deliveries The ostensible object Of this
party TO control OF the company, and, II poss
bls ~ throwing lis Affairs into the hands OF receiver
selected by themselves within the next month or two
for await result Of the next annual election would
haa adj fnrth Tn III IN and n m
is ON foot In the Legislature, and committee OF i've
this morning appointed By the sensts to Investigate
the company AFFAIRS ~ Albany, ~ih liberty 70 send for
persons and papers 70 this oy. The Eric directors
have already gwen formal notics TO the Pcnnsyi-
vania Central aud the New York Central
companies that they are NO longer bound
By the understanding hitherto existing between
them with regard through rates Of fare and freight
and this is probably the precursor OF such reduction
in these will force the New York Central to follow
suit In selfdeence The evidently being under
taken in earnest by the Work Vanderbilt party. and
they have thus far succeeded TO all appearances, In
checknaiDg the speculative director The cause Of the
quarrel in the FIRST instance doubt tho arrange
ments made by the Erie board to secure . through
broad gauge route to Chicago by way Of the Michi-
gan Southern line. thus heading OIL the Vanderbilt
lines. and 1t IL probable that IL they rscsdsd from
these the suits brought against them would
be withdrawn Tho immediate purpose OF the bull
clique however, is TO make money by their speculation
for rse for the next election day 10 six nonihs on and
the prospect Of q receivership is doubtful. They will
therefore 'mk the street, much possible, and by
investing their operations with air OF mystery they
hope the better in doing this. The stock.
all the circumstances OF Tho case, is very dan
gerous touch, manipulated as 1t is by un,crupu
lous men, whose object IL to swirds the street By
AoA
outsiders both In and OF Wall street will consult
their interest BY neither ing selling IL The
whole railway market Is held up by main force BY
tho various clqucs and would be impossible for them
TO sell any considerable Of their socks without
causing heavy decline In prices. The Erie litigation
has driven the general public from The field and made
the rect timi about helding railway shares Money
continues in moderately good demand n six cent on
CALL with exceptional transact ,ns at Eve ON govern.
men.s and seven on miscellaneous coilaterals.
Government securities dull and the market for
them Vas rather heavy tonc although prices in
Instances unchanged, while In others the decline
was merely fractional.
Al the commencement OF business the stock market
was heavy and Erie declined to 7ix. Al the early
| session Of tho open board Erie sold st Tx
| and New York Central at 12SK. A. the nrs'
regular board the market became strong and
| active, and Erie advanced to - ON the second call
Erie closed per cen. higher than ~ the same time
yesterday, Northwestern l. Toledo ana Wabash TX,
Milwaukee and 81 Paul preferred e. New York Central
| vas y lower, Reading ~ Illinois Central q, Fort
| Wayne y, Milwaukee and g. Paul x ONO and Mis-
asspp u, Pacific Mali y. Nor,h Carolina sizes luewl
advanced III Missouri SKIES u. Government securi-
ties duh a decline OF u Y per cont A, the
open board at O'Clock Erie sold a. 74< TAX and
New York Central al l3o AZ the second regular board
the market strong and active. New York Central
closed higher than the regular board Erie y,
Reading u icveland aud Pttsburg 4, Fort Wayne u,
Toledo and Waoash n, Milwaukee and st. Paul u,
Pacific Mail y. Western Union Telegraph was y lower.
North Carolina sizes advanced ~ Government sscur-
ties were dun bus prices steady ~ the open
board half past the was quiet and Erie
sold At 74yS a 75X, New York Central l30,I, Rock
Island OK . osx, Northwestern es and Western
Union Telegraph al%. Subsequently Enc declined 70
1aX aAdat the close at o;ock the quotations
as follows, the market being ~ the time dull: New
York Central 1923 a l2ss<; Erie. TAX = 7lX; Ohio
and Mississippi, 3lx Six; Michigan Southern, OIL q
slX; Cleveland and Toledo Io71 losx: Rock Island,
ss1 assl; Northwestern, s7x ss; do preferred, 7S
q 75X; Pncinc Mail. lna NIX; Western Union Telo.
graph, 34h . a4k; Reading, ~ olk; Canton Gen.
pany. e3X.
The foreign exchange market was quiet and the rates
for sterling declined fracuon Bankers bills Eng
land sky days quoted a. 1ook 1925 st three
| days, 1l0
The bask note circulation Of the United States the
bsginaing OF each OF tho following years h thui
| stated
1884. sool Csc, ,2o7 ls61 s2o7 oo5 70,
1856 Is6 952, ,223 1862. lsJ 7g2, ,07G
1sJd 1876, 747,y50 1858 ....... 23S OF 2ls
1861 7...... 2ls77S,s22 18o0. ....... ass 0ss. .06s
1888. 1855 EOS 344 1877. ........ 29S 054. 7ss
lso9.... l93. SIS lS6s. .......... 297 100, Ssl
1850 ......... 207, ,l0l477
The receipts customs and the receipts pay ymen II