The New York herald., 1868-05-07
FINANCIAL AND COMMERCIAL

WEDNESDAY, May 60 p. n.
Bpsiness in Wan street continues TO be held In
suspense by the impeachment trial. upon the result
OF which opinions about equally divided. With
this bugbear removed a sensible relief win be expe
renced and activity will follow the prevailing semi
stagnation. The dispatches Of Messrs Butler and
Washburne sent TO the republican convention in
New Hampshire are accepted by many as significant
of the vote OF the Senate In the Presidents case
Notwithstanding that popular feeling Is decidedly
against his removal. 1t is not improbable that we
shall witness more currency imitation il Mr. Wade
succeeds 10 the Presidency than IL Mr. Johnson re-
mains in Office; but the indications that there win
he imitation in either event. 1t will be made politi-
cal in view Of the Presidential election and
many OF both parties VIII unite In q COMPROMISE
which will add say hundred millions To the out
standing volume of greenbacks The hurtful effects
OF this imitation viii not be felt until the reaction sets
In and meanwhile speculation will run wild ON the
Stock Exchange. As soon as the impeachment
trial Ii concluded the financial question is likely
10 be taken up in Con sress and deoated with spirit.
The Western members are for the most part un-
limited innationists, ami they would like nothing
better than to flood the country with greenbacks
regardless OF consequences; but the more the con-
servatlve element prevails on the subject Of the
currency the betterfor it is easier to do than to
undo-and the tendency just now In all things is
HH|.
The STOCK market was strong during the early part
OF the day, but afterwards dropping and very duh.
The cliques appear to be idle, and the brokers and
other professional speculalors on both the bull ana
bear side are indisposed to enter upon new opera
tOns until there Is renewal oil activity; but it s
noticeable that 'shorGs' put out with great eau.
ton, and that maay OF those WHO believe prices to be
above the range Of real values nevertheless antci-
pate rise. The Dull combinations have enormous
interests At staxe and while they command large re.
sources tey nave reached season OF the year which
s favorable to them, monetary ease beng assured
andth earnings OF the ra.ways larger than in the
winter months. The ,noney market vas somewhat
easter tian yesterday ami the loans at six per cent
! Oh stock cohatera.s were numerous, although the
rate generally a'Aed was seven. Tie banks continue
dahy recslps o, cdrrency from tie West and the
ner.or generally, a.iJ tleir loanaoe resources are
bels co'fespondinsy augmented, 80 that very soon
reduction oi Tne interest 70 5 per cent s
likely to take Place. The monetary wants OF the
mercantile community continue linlsed, the amount
OF numerical paper Offering for discount being very
ligaS and the best grade passes at u per cent on
tine Street, Tue Assistant Treasurer in this city Is
pre- cd to redeem in three.per cent certificates
prmc pa and interest any OF the compound interest
notes due on tie 10Th INST, and lst ist there
were nearly twenty-five millions OF original fty
miions oil these unssaed which it Is tie intention
of the Treasury Department 10 issue as speedIy az
poss bic in redemption Of these notes. 1ohaa af
The gold market was very firm, and after opening
ae l39'6 1t advanced steadily TO 1994, tile closing
transactions prior to the adjournment OF the board
having beea at 1895, following wlien tins price was
bid. Tncre was amolcrl5ey active borrowing de-
mand for coin, and loans were made "ilat" or with.
out interest, ami at 55a per cent for Carrying.
The gross earnings amounted To $780, the gold
balances to 45s5,6 and the currency balances TO
g. l5o,sJ6. The steamer Java took out $6j5 OJ0 in
specie aud the Ocean Queen, from Aspinwail,
Brought S'27 in treasure. Tie receipts of gold at
lis port nom foreign ports in tile first ieur months
ofthe present year egated 81, 723, s04naneiy la
January sl36,574, In February $4l5,S75, in March
$l.299,776 and in April ss7i,O7e. The receipts OF
treasure from California during the same time aggre
gated $l2 7a5 732-namely in January 81 $40 $50, in
February s4, 1872 2T6 in Iarch $3l96,l95 ana In April
S3,45i, ,440. The exports to foreign ports were
s2L1 7i1-namely, In January $780, ,s25 in Feb
ruary 81, 2o3s25 in March s3e9i9l and in April
ea095.l79. The exports exceeded the receipts from
oil sources during the four mouths by the sum of
$5,SS4 CAS- The Treasury sold gold to very limited
extent to-day. u
Government securities were nrm and In moderately
active investment demand. There was q special in
Quiry for the small vetwenties OF 1862 and 1855 on
foreign account and the price OF these advanced u
being, as usual about as much below 1t. It Ii pre-
sWnabe from this that tue demand from small in. /
vestors abroad Is quickening. The indications con-
tnue to favor improvement In the market for all |
Classes OF United States stocks There ia rood In
vestmcnt demand for tue first mortgage bonds OF the
Union Pacific Railroad Company at par, and also |
Tor those OF the Central Pacific Railroad Com
pany at the same price, both paying six per |
cent interest in gold. AT the close the quota
tons were "a subjoned:-Registered 1881, lib /
h3A; coupon 1881, ll3jt llS,4; 52os, registered,
icol, lOo1s l0os<; 51os coupon 1854 1851 lOs,f;
do. 1861, lo6k 1858; do 1,eS 1864 loezs; do,
1855, January and July. 1887 a lo9,s; do, 1867,
f0sli lO3s; 1o40's, registered, 1929 Io3; 1O40s
coupon, 103 a 1885. June 1905, lO7ss a 1O7n;
July 7.30s, 1918 VA; May compounds, 1864,
Ils; August do, 1ls; September, do, u7K; Octo-
ber do, III. |
At the commencement OF business the stock mar.
ket was rn but dun AID ut the early session OF the
open board Erie sold al 7o,s AMI New York Central
at I2Ss. At the first regular board the volume of
business continued light, but the tendency Of prices
WIS towards Improvements New YORK Central
closed Z lover than at the same time YESTERDAY
Michigan southern y, Northwestern preferred y,
Ohio and Mississippi y, and Western Union Telc- |
graph u, while Ieaiing wis n higher North
western y, Fort Wayne l, Pacific Mail n, and |
Quicksilver -. Government securities were firm |
but inactive. At the open board at O'Clock |
prices were higher and there was increased specu-
la'ive activity New York Central sold a. I29Bs q.
Ere 7o7s and Reading 9lK. At The second regular
board the market was dun and stea iy, and new
York Central closed "a higher than at the first regu-
lar board, Reading "a, Michigan Southern q, |
Cleveland and pits'mrg y, Northwestern 4, pre-
ferred "a, Fort Wayne x, Ohio and Miss ssppi n, |
and Quicksilver !. Government securities were
hrn at an advance OF = II. At the open board
at haf-past three prices were slightly lower, New
York Central selling at 1884, Erie at 70x and
Fort Wayne at 1o6%. During the remain ler
OF the afieInooA the speculative feeling
was very sluggish, and at the close at
quarter to six O'Clock the following were the quo
tstions:-Pacinc Mail, 9S1s: Quicksilver 3ox a ~;
western Union Telegraph, 3711 371; New YORK |