The New York herald., 1869-04-22
FINANCIAL AND COMMERCIAL.

fINANCIAI AND COMMEnCIAI.
-~~s-~~~~o->~--~~~~~>~~~
"WEDNESDAY, April 21-6 p. M.
Perhaps the most important feature in Wall street
dongs to-day was the notification OF the Comptroller
of the Currency to the national banks, calling for
statement of their condition as they stood at
the close Of business on Saturday last, the 18th
instant. When 1t Is remembered that the banks
commenced contracting their loans In the be-
ginning Of the month, and continued doing 30 up
to the day above specified 1t will be seen that they
can make o very good exhibit. Their capacity for
expansion is therefore all the greater, that the
demand for the statement at this time is very
0pportune, as it will release o great deal
or money and enable the banks to discount
more freely for their customers. The banks
In the country, who have been In the habit
Of employing their funds in the CITY, but have been
delayed by the necessity Of being ready for the state
ment will also contribute to the monetary ease
80 essential to the carrying out Of the usual spring
and summer engagements OF business circles In the
metropolis. Money on call to-day was quoted at six
to seven per cent with less doing at the former rate
than yesterday. Toward the close of banking hours
there was more active inquiry, and seven per cent
was paid all around. Commercial paper continues
fairly active and Is discounring at rates ranging from
nine to twelve per cent for primo double names.
There was a decided revival of speculation In
money market greatly contributed. The higher
rates for exchange enable the foreign bankers to
dispose Of the few remaining bond bills, ana thus
give them new purchasing abilities. Foreign orders
come nearly every day by cable, the prompt payment
OF the May coupons stimulating the Investment de-
mand abroad. The LONDON quotation to-day was
better and shows reaction In favor OF securities
after the depression prevailing on Monday and
Tuesday The demand ran after the 1925 and ls67s,
the former selling very freely at 121 which bid
up to the Close with no bonds Offering less than
12lK. The 1se7's were extensively bought for ship
ment. The following the closing street quota
tous:-Unised States SKIES, 1881, registered, III
ll7; do, coupon, 1173S 117ss; fve-twenties regis
tered. 112 1l21s; do, coupons, 1852, 12l 12l3f;
do, 1884, 116H 11614; do. 1866, 1IS 118h; do,
new, 1856, 115H 1151; do, 1867, 115H 115H;
do, 1885, 115h 115l; ten-f0rties, registered. 105x
106; do, coupon, 106 1861.
What Is true Of the whole ought to be true OF the
part. The speculative feeling seems about to avail
itself of the application OF this MAXIM Of logic in
the matter Of our State bonds. which have caught
something of the buoyant activity Of Federal
curities. The feeling runs more particularly upon
the Southern State bonds, which, with the compare
lively Weather condition OF the Southern people,
are becoming favorable investments with those who
have money above the requirements of farming and
cotton planting operations. In some instances the
State authorities have been guilty Of much Injurious
speculation In their own bonds. correspondent
writes u.s.
North Carolina is esteemed the best reconstructed
State In the Union But this can hardly apply to Its
financial position, which at the present time com.
pares unfavorably with every other State In the
Union. How can we account for Its new bonds with
selling slowly at 53s These same bonds, with a
tighter money market and no interest DUE sold last
Carolina were RgHe than almost sH al otheT
State bonds Surely. there Is something rotten about
State behind the scenes are manipulating OF acting
collusvely with Others, the State WIN suffer i'm
y D s Wa MY aS h.n
with less suffering from war or other causes, it
puzzles one to account fairly for the shameful fact
that It's 800 bonds Will scarcely sell Tor So; that its
last January interest Is still unpaid whilst July Is
hearty due.
The North Carolnas were stronger to-day in the
general upward turn OF the market while the Ten
nessees continued to advance upon the high quota
tions OF yesterday New virginias were frmer by
one per cent as consequence Of the expected ben
sfts to be derived from General Grants plan of
construction. The following were the closing prices
Of the general lst:-Tennessees ex coupon. 69A q
70 do.. new, 6sK 6sA; do, nve per cent so a 80;
Virginias, ex coupon, 5sX 59k; DO, new, 61A
o2 do, registered stock so 5o1S; do, registered
1865, 631l SAY; do registered, 1867, 81 50; Geor
ga sxes, 81 SO; do sevens, o5 ao5k; do, sevens
Interest payable In Georgia. 80 90; North Caronas
Ok coupon, 81 ~; do, new, 81 SAX; Missouri
sixes 81 s7K3 do, Hannibal and St Joseph, So q
30; Louisiana skies, "A TAX; do, levee skies, 70K
II; do. do eights, SO 81; Alabama eights, cox
100; do nves 90 q 10; DO skies. sterling, 95 bid;
South Carolina skies, 10 "a; do, new, II 72 do
registered stock, Ga e5 City Of Memphis sixes SIX
. 81; do. Atlanta eights, ls4 Q SO; do. Savannah
Sevens % o "a; New Orleans, consos, n IS; do.
do, issue to railroads, 81 O 90; Mobile and Onio
Berlings, 70 72k; do eights SO eshj Mississippi
Central Railroad, first mortgage, 72 q Tx; do,
second do, 81 57K; Memphis and Charleston drst
mortgage SO 91; do, second, 10 ~; do, stock Al
40; Greenvile and Columbia Railroad, guaranteed,
81 o 90.
Although it was steamer day the foreign exchange
market was active and the prime bankers advanced
the price Of their sixty day sterling bills to 10sX
The steady arrival of the May coupons has made o
market for exchange which has produced specu
lative feeling among the bankers who are largely |
buying, the merchants contributing comparatively
little to the inquiry for bills The following the
range OF quotations, which are, to great exteut,
sixty days. commercial, 107h |
iO7X; good to prime bankers, 10s q 10sh; short |
sight, 1os% 1o9I Paris, sixty days, 5.26 $50;
short sight, $40 5.171l; Antwerp. 5.25 o $50;
switzerland. 5.25 o $40; Hamburg, 35% q 35,s; |
Amsterdam. 39X 4O%; Frankfort, 40 4ojk; |
Bremen, 771s rs; Prusslan tnalers, IVA II.
The strength of the exchange market Is due also !
to the falling or In the supply Of cotton bills. The
srop this year is over a hundred thousand bales less
than last year. The following Is q statement OF |
the movement In cotton since the LIST OF September
last to the 10th inst.:-
1888. 1869.
Receipts at the ports. ,05S,0oo Ie05o0o
Export 10 Great Britain. ......1, ,O56,00) 100000
export TO France... ............... li3OOO 17i,OOO |
Export to other foreign ports.. 100000 $4,000 |
l.
btock on hand. 2b7,000 $4,000 |
Gold was frm. steady and fraction higher on the