The New York herald., 1869-04-27
FINANCIAL AND COMMERCIAL.
MONDAY, April 2o-o p. M

,harn inward turn in the great majority OF the Sc
curties dealt In at the Stock Exchange The street
n emnently "buish" in its tone ana tendency ana
the bearsv who put their contracts for the ex-
nected depression resulting from the recent strin-
Vency In money have gazed with dismay at the
gradual but sure obliteration OF their margins con-
seouent upon the steady rise OF from twenty forty
per cent which has ensued In some OF the leading
speculatye stocks. The onward march OF prices
was merely checked by tight money. Indeed, for
some OF the list 1t was progressive notwithstand-
Ing With the return OF easy money the advance
has been still more marked. The railway list has
been the great feature, and those which more or
less in the path OF the route to San Francisco via
the Pacific Railway more or less re1ective.of the
impression that in the general impetus which Is to
be given to railway stocks by the completion Of that
route each will have its share Of increased uanlc.
We have already pointed out the danger arising from
q too enthusiastic discounting OF the effects upon
the earnings Of our Western roads when this enter
prise shall have been finished The immense decline
in breadstuns at the West ranging from forty TO
fifty per cent should not be disregarded in making
calculation OF the profits Of our railways during the
ensuing season. particularly as may more than onset
the advantages to be derived from connection with
the Pacific route. The stock market to-day was
strongly active for the general list and prices in some
instances touched the highest ever known. New
York Central for instance sold at 173, the opening
figure being l69H. The prominent purchasers were
SAID TO be the brokers of Mr. Vanderbilt who appears
10 have been stimulated by desire TO outwlt the
'shorts,n who took advantage OF the delay in the
bill before the Senate TO sell the stock for fail.
There were also good many "Albany orders" in the
street, and while it seems to be generally conceded
that the bill is going through the Senate there is
dispute as to its approval by Governor HOFFMAN. An
Albany correspondent writes:- .s a. ~s-E
The Central Over-issue hill does not move as fast
as the friends OF the measure and the anxious par
NclpaJorS In the prospective profits would be salts
FED TO see. There Is not much doubt that the bill
Will pass; but in the desire to allow the lower House
thing it may be that slight amendment will be
offered ana the Assembly again try its hand. The
air Is u OF rumors OF the probable fate or the BILL
but no satisfactory position seems to be held by any
body. The western portion of the State Is unanl-
nlously opposed TO the passage OF the bi and this
Will, Of course, have its influence upon the Senators
representing that portion OF the Commonwealth.
shaken the confidence OF all persons depending upon
the last argument OF legislative appeal.
The other vanderbilt stocks" as they are clas
sifed-Hudson River and Harlem-likewise caught
the injection Of the hour and advanced to 1881
14 respectively the report being revived that Mr..
Vanderbilt, in organizing his grand through route
the West, will arrange for scrip dividends upon
these latter roads to equalze them in value to New
York Central, preliminary to consolidation there
with Fort Wayne was another feature OF the rail-
way list in this general advance. The express stocks
also active and higher, while Of the miscel-
laneous list Pacific Mail and western Union the
more buoyant. The situation to-day was to really
puzzle the most conservative OF fnanciers. II, on
the one hand, this sudden appreciation OF value is
based upon the expected prosperity Of the country
IN the ensuing future, 1t s only what the more en-
thusiastic have prophesied since the admins
M Graz Eas nv q
majority OF the people Of the United States II,
the other hand ii Is the work OF the cliques and
binatons OF Wall street, who have consplreo TO ad-
vance prices 10 make market for their long boarded
stocks, its success Is stupendous.
In the government market the hve-twenties Of 1852
touched the extraordinary figure Of 121H The Loa.
don quotation was also higher-soA-whie the
simultaneous advance in consols to s37. 93H Ia
evidence Of the fact that the monetary ease
which s now experienced in the New York
market has its counterpart in London 1t Is a
curious spectacle this growing abundance OF money
at two OF the financial centres OF the world, and
may well arouse the conservative nnancier to
scrutnize again the monetary horizon. Ii Will be
well II this activity Is not confined to the stock ex
changes but expands TO the more legitimate chan
nes OF business. The issues OF 1867 were rmer and
higher through the combined influences Of the gen.
era buoyancy Of the day and OF scarcity Of delivery
In 'short' sales Their appreciation carried up the
old 65's as well as the July bonds the market
closing with the following street quotations.
United States skies, $751; registered III all7l; do,
coupon. l17H 1175s; do hve-twenties. registered,
1l2a1121s; do. do, coupon, 1862 1919. 12l do do
coupon 1884, 1leA 117 do. do, coupon 1895, 11sS
a11s76; do. do coupon, new, 1866, 115% a1157; do.
do, coupon, 1867 115I ll5s; do. do,
coupon, 1865, I5x 115s; do, ten-forties,
registered, 1o6 lo6X; do. do, coupon, 1867
1867; currency bonds, los 1866.
In Southern securities there was a continuance OF
the demand which characterized the market last
week, and the features the North CarolInas
100000 OF which sold at 5jl4; the Louisiana levee
eights, which advanced to SO, and the Alabama
eghts, which closed lo1 bid. The following were the
final prices for the leading bonds:-Tennessees, ex
coupon. 90 TO- 40. new, 6s14 a sIz;yirginlas, eX
coupon, 5s 90: do. new, 81 a 63 Georgia skies,
81 a so; do. sevens, 95h 90; North Carolina ex
coupon, 81 a so: do new, So a 561I; Louisiana
skies, 74a74Jl; d. leyee do, 72H 70; do. do,
elghts, Ss 5ss; Alabama eights, 100 10lIs; do,
Hyes, 20 a III Memphis skies, 50 a &c. --sa-s
Foreign exchange became lrmer under the de-
mand for to-morrow's steamer, and rates closed as
folows:-sterling sixty days, commercial. 1O79l
1os4; good to prime bankers 1885, 1OsZ; short
sight 1925 1925; Paris sixty days, 5.23H 5ls%
short sight, 5.lS1. 517I; Antwerp, 5.23I 5.1s14
Switzerland 623si S.1sAl; Hamburg a5k a51s;
Amsterdam, S9l4 tO7E; Frankfort, 4O1 4Os.;
Bremen, 77a 5s.; Pfissian thaers, 7oh II.
4 Cod vas Steady but strong, with nrmer feeling
at the close, attributable PROBABLY to the rumors Of
Cabinet changes az Washington. There was very
little speculation, operators for rise being afraid
of the eject Of the government gold sales and the
payment OF the May coupons In the latter portion OF
the week, while the obstinate strength Of the pre-
MUM deters the "bears." There was close contest
In the Gold Room to-day for the choice OF secre-
tary Mr.. Thomas p. Akers being the successful
candidate by majority Of eight votes. The range in
the price OF gold was as folows:-
10 A. M............. 1881 Up. M.............. 1888
IL A. M............. 1881 3P M.............. 1899
~ M............. 1887 4P. NJ. M............. 1873 =,