The New York herald., 1869-03-10

cent for carrying After Clearing House time loans
were made at from 1--we per cent for carrying to fiat
for borrowing. The market was duller as compared
with the previous two days. but the transactions In
ordinary times would seem enormous. The Gold
Exchange Bank report was as follows:-
Gross clearngs $50, ,327 600
Gold balances. ACKNOWLEDGEMENTS. 9o5296
Currency balances. ces...................... 1,37i36S
The European steamer took out $39, 900 in specie.
Governments opened with steady feeling and a
slight improvement in some OF the issues, based
upon the reported trmness Of the market abroad.
At the noon board there was yet better feeling and
an advance which carried 1928 TO 11SN and '67s to
113. The more immediate occasion Of this rise was
q cable telegram announcing the London price TO be
So, but the market likewise sympathetic with
the rumor mentioned In the previous paragraph, OF
Mr. Stewards induction into Office. At the AFTER
noon board, this report having been disproved and
bonds in London having receded to s2A, there
was yielding in prices to the opening figures,
bat without any pressure to sell-a condition Of
things which rendered the market very dull. At the
close the "homen issues-as the street inclined
style the bonds which excluded from the favor
ties for exportation-were shade nrmer in conse-
quence Of the advance In gold. Prices closed fol-
lows at i've O'Clock this evening:-United States
sxes 1881, registered lax l1S; do, coupon, 11o
1lch do, 52o's, registered, 113 Ia; do, coupon
1852, l1sx 11sx; do, 1854, l14x ll4h; do, 1866,
lleH 11oX; do., new, 1896, 112X 1ls; do, 1857,
1l2K 11s; do, 1858, ll2X ll3; do, 1o-4o's.
registered. 1ol q 1o4k do, coupon. 1861 1o5k.;
currency bonds, 102 102K.
Southern securities were largely dealt in. Tennes
sees closed one-half and North Carolnas about one
per cent higher. L0usianas were steady. There
were no changes In the rest Of the general list.
Foreign exchange was weaker. The advance In
bonds abroad was made known here just about the
time OF closing for Wednesdays steamer.
Tho market Is quite unsettled nowadays,
and whatever temptation exists to buy at the
reduced rates Is checked by the hope Of q lower
premium ON gold. Quotations ranged to-day ss
follows:-Stering, sixty days, commercial, los
l0sx; good to prime bankers, 1osk 1osX; short
sight, 100 10ox. Paris, sixty days, 5.21X bl7k;
short sight. s1eX 61s. Antwerp. s22x SILK.
switzerland. S.22K . 617k. Hamburg. a5k .
sSN. Amsterdam. 4oK 4ok. Frankfort. Aok q
cox. Bremen. 7sk o 7sX. Prussan thalcrs, TON q
ny.
Money was shade more active but borrowers
were accommodated at the full legal rate on both
government and miscellaneous collaterais. Excsp-
tons on the pledge Of the former kind OF securities
reported at per cent. The observance Of the
new law with reference the certincaton Of checks
has created great deal Of annoyance, but has not
prevented the bankers and brokers from carrying
their business usual Nearly all the banks insisted
to-day upon being obedient to its provisions The
exceptions intend to walt for ofhcial ratification
from Washington. Where accommodation Ia not
thus directly afforded . number OF expedients are
resorted to- Some Of the banks endorse
'.acceptedn instead Of certified" Others
again make loans to their customers at the
rate Of one per cent per annum, covering
an amount averaging the daily sum usually certified
to. In other cases checks to this amount drawn on
. d0,nront honk al and tha haIa made
good or the check redeemed before The close OF bus
ness. The law is o senseIess and useless IL is
Of no possible benefit to the community. The only
persons danger nom this system Of certincation
are the stockholders Of the bank, who certainly
should have the privilege OF managing their affairs
as seems best to them. loss resulting from the
failure Of the drawer Of certified check to make
good his account would not fall upon the note-nold-
ers or upon the public, but simply upon the stock
holders who entrust the matter OF cerfncatlon to
their cashier or some special onicer. The present
Congress woulI do o good act In Immediately re-
pealing the law.
The following were the bids for city bank stocks
to-day:-New York, 1872: Merchants, 1875; America
las; National, 14o; Seventh Ward, 40; Commerce,
122k; Mechanics Banking Association, 100; Ameri-
can Exchange, Iis; Bank ofthe Republic, III; Bank
OF Norlh America, 100; Metropolitan 14l: Peoples,
140; shoe and Leather. Isl; Continental, 90; st.
Nicholas, 1ls; Commonwealth, III; Importers and
Traders, 12s Park 157; Fourth National 1ol; Ninth
NATIONAL Ill.
The National Stock Exchange the new board OF
brokers, held meeting At 81 Broad street this after
noon. Mr.. James Fisk. Jr. was present In brief
speech he congratulated them upon the success OF
the organization. Did they consent to call Erie he
and his friends would guarantee them plenty OF
business The old boards were anxious to have
Erie on the list again. Money could put 1t there II
he wished. overtures had been made to him within
the past eight days. But Erie was going 70 have a
home In the new board. They should have all
the money they desired to carry out the
new institution. He would state that since
the new direction came into once there
had been no overissues OF stock and no CONVEX
sion OF convertible bonds. There was sworn state
ment to that eject at Albany, vote was then
taken and the proposition to call Erie met with only
one dissenting voice. The meeting then adopted the
call list and after routine business adjourned to
Thursday, when dealings in stock will commence
with formal session OF the board.
The general stock market was drm and higher.
The speculative feeling fully awakened, but
fined to the clIques The ''outsdc publIc' has been
but slimiy represented In the transactions
of the past few days. The feature to-day
was Hudson River. which advanced beyond
lao on the strength OF q report that .
scrip dividend OF nfty per cent Is to DO de-
cisred, but when n not stated. New York Central
rose about ono per cent to-day, and was largely
dealt in, against the expected action Of the egis-
lative committee. Mariposa touched 1e Eric was
steady In the vicinity Of 30. Rock Island was very
strong. selling freely at 12ox The express stocks
were frmer, on account Of the settlement Of the
Merchants Union litigation and . compromise be-
tween the Erie Company and the United states
Company. A. 10 the former suit curious
disclosures are made, showing the modus
0perdnd, OF snecting the Wall street market
and strong. the closing street quotations as ap-
pended below 10 the list Of stock sales, showing q
decided Improvement upon business at the boards
Tho closing prices at the last regular board as
foIlowss--Canton, CO., q Cf; Cumberland. 81 q %;
western Union Telegraph, ~ s7ts: Quicksilver