The New York herald., 1868-04-28
FINANCIAL AND COMMERCIAL.
MONDAY. Anrll a1-6P NJ

The gold market was heavy at the opening, with
sales at 13sZ, but 1t soon became irmer and an ad-
vance to ls9 took place. The closing transactions
however, were at l39. Loans were made Sdat', and
at per cent for carrying. The gross clearings
amounted to s3s,oo5, ooO the gold balances to
t1,249.72s and the currency balances to sl74l4l5.
The imports of specie at the port during the past
week aggregated S43937, making total Of 81 1872 $50
since the LIST OF January There is an indsposition
shown to make speculative contracts on either the
bull or bear account, pending the result of the i'm
peachment trial. The Improvement in our export
trade and the falling or in foreign importations
during the last few months go to support the argu
ments In favor OF lower premium, while the
prospective imitation OF the currency under
che radical programme the reduction OF taxation
DER the amended revenue bill and the unsettled po-
liticsl condition OF the country many
against decline.
The stock market has been strong nearly all day.
and the upward movement was led by New York Gen.
tral, which sold at fraction above 130 This rise
was stimulated by report that the company pro-
posed declaring stock dividend OF a hundred per
cent after calling up $40 per share from the stock
holders, IN opposition to which another report was
afterwards circulated to the effect that II
the company attempted to do so an
injunction would be placed upon the directors
restraining them from carrying out their purpose.
The one was bull and the other q bear story, aud
both were designed to affect the market Erie adj
vanced to T2s at time under purchases IN anticl
patton Of its being moved upward By the clique con-
trolling it. Mr.. Drew is again in Wall street. and the
circumstance OF the last Of his Erie "callsr ma
turing tomorrow led the street TO imagine that with
these out of the way he would undertake to "bul''
the stock; but, II his satepents are TO be relied
upon, he VIII take no further part in Wall street
ODerAtODR Rock Island was dentpssad N tnn oftn
noon without any apparent cause and probably for
speculative effect. This constituted the only ex-
cepton to the rule OF strong market, although
there was no material advance in any
other than New York Central Erie and Fort Wayne,
and at the close prices IA = below the high
est point of the day for the stocks mentioned. The
speculative feeling ls however strongly bullish, ana
she prospect OF fifty or hundred millions Of na.
tonal bank notes being added 10 the circulation, In
view OF the Presidential election gives courage to
the bulls. AS matter Of course, II this imitation
takes place the spectators will reap plentiful har
vest for awhile and prices will rise hgher bnt the
inevitable revulsion will be all the stronger when 1t
comes, although 1t may be delayed for two or three
years. The motto OF the bulls, however. will
oe, "After us the deluge.n Highly inflated
stocks, representing mismanaged railway pro-
peIties, will collapse but the sound dividend
paying stocks will hardly fall below their real value
even In such crisis as we speak of. The recovery
from the recent decline has been surprisingly rapid
and the market having passed completely under the
control Of the bulls the bears have almost disap-
pesred, and the short" interest has been nearly all
covered. 1t is reported that Messrs. EdrIdge and
FISK have left Jersey City and gone to Boston, and
that the former place has been entirely abandoned
as the headquarters OF the Erie party and further
that the president and his co-direcor referred to will
return to this city within the present week.
Money was in abundant supply all day at six per
cent on governments and seven on mixed coaterals
while the banks were willing to discount for their
customers at the legal rate The flow OF cur
rency from the interior is on the increase and an easy
condition of monetary affairs for some months to
come Ia assured, unless some unforeseen event
should occur to disturb their natural course.
comparison OF the statement Of the associated
banks OF this city for the week ending on Saturday
last with that for the corresponding week in 1867 and
1896 respectively shows the following changes:-