The New York herald., 1870-05-12

The leading bankers again advanced their rates for
foreign exchange the market being almost devoid Of
commercial bills, while there Is total absence OF
bond bills. The following were the quotations at the
close:-Sterling, sixty days, commercial, 1851
1o9A; good to prime bankers, 1O9x a 1O9k; short
sight, ITO 11o1S; Paris sixty days, 5.21I 5.1eA;
short sight, SIS 5.132<; Antwerp, 6.21A a16A;
Switzerland, 5.2lH a 5.l6k; Hamburg, S5x SO;
Amsterdam, 4oK q Al; Frankfort, 4oA q 4oX; Bre.
men, 1871 a 7srs; Prussan thalers, 70k nix.
GOVERNMENTS AGAIN BUOYANr AND EXCITED.
The demand for national securities was again very
active and constituted the feature Of the day next
to the excited dealings In railway shares. The
buyers were encouraged by the firm tone and adj.
vance In gold, and the more cautious classes Of
SPECTATORS 10th to take the risks Of violent
fluctuations in the railway list, were large pur
chasers. The various banking and moneyed instltu-
tons have also bought very heavily, in anticipation
OF an unusually easy money market during the
balance Of The spring ana summer, the government
list affordng more secure investment at six per
cent than Is attanable otherwise The '67s, leading
the Market touched 1l4N. Prices reacted with the
decline at the Stock Exchange aud closed as
follows:-Unlted States currency skies, 112H q
112H; do. sxes 1881, registered, 1861 III; do.
do coupon, 1167s 1171G; do. hve.twenties, regis
tered, May and November, 1111s l12; do. do,
1852, coupon, do, 1874 1121k; do. do, 1854, do
do, 111z 111T; do. do, 1866, do. do, 111a a
liz; do. do 1866, do, January and july 1l45 a
1l44; do do, 1867, do. do, l141a las; do. do,
1865, do. do, 114tz HAS; do ten-forties, regis
tered, 1o7 1o74; do. do coupon. 1885 1857.
MONEY EASY.
The rate on call again reflected the abundance
Of money now prevailing in the city. Borrowers
on stock collaterals were freely supplied at five
per cent and the government dealers at Prime
houses with choice cOaterals were able to borrow
as low as four per cent Before the close Of bank.
ing hours money was offered in excess OF the de.
mand at five per cent. and large balances went over
unemployed. In the commercial market prime
double name acceptances were selling at six to six
and half per cent discount.
THE STOCK MARKET.
Sticks previous to the adjournment Of the last
board were buoyant eXelted and strong, prices
again sharply advancing In all the railways which
have been so conspicuous In the bull campaign OF
the past three weeks The high prices thus attained
induced considerable realization, and the market
toward the close broke down in sympathy with
decline Of one per cent In Ohio and Mississippi,
about 90 900 shares OF which were sold by broker
who having previously disposed OF "cals" at
3S to 49, was reputed to have been forced
to break the market in order to buy in
the requisite stock wherewith to make good
his deliveries should the buyers of the "calls de.
mand the fulflment Of his contracts. The effect
upon the rest Of the list rather demoralizng for
some time, Lake Shore going or to s9f, Rock Island
to 124H and Central scrip to 0714. Before the final
close OF street business prices recovered but to
the highest point OF the day. The width Of the nuc.
tuatons will be seen in the table OF comparative
prices given below. 1t should be stated that In the
general early buoyancy Of the day Lake Shore was
steady, the present holders resisting its natural ten
dency to decline. Its lack OF susceptibility to the
more active movement In the other railways caused
1t to be more neglected to-day, while smaller
holders sold out and bought the more buoyant
stocks AS an investment there Is no doubt, OF
course, that Lake Shore. eight per cent divl
dend paying road, has attractive features, but
the speculatOr who Is holding 1t margin of ten
or fifteen per cent will have to chase it all the way
down through the exigencies Of tight money mar
ket next foil and will be surely cleaned out Of every
cent II he have not capital enough to keep his mar
GIN good at his brokers'. The stock Is now aoat on
the street and in the hands OF some smaller cliques
The controlling clique Of officials are out OF It,
They sold their stock the buoyancy begotten OF
the results Of she Cleveland election. Any man
who Is at all conversant with Wall street affairs
must know that with the controlling powers OF road
out OF the stock there Will be 'msmanagement"
decreased earnings mo dividends" and dozen
other Influences. substantial or imaginary, set TO
work to effect decline in the stock. The following
the closing prices Of stocks at the last session
OF the Board:--Canton, 70 TAX; Cumberland, a. a
As; Consolidated Coal, 81 2s; Western Union s2X
a 3eX; Quicksilver, 9A a1014; do. preferred, t4h o
| 10; Mariposa, q OK; do. preferred, 1s1S a 1875
| do. certificates, 46s< so; Pacific Mail, 424 a
| 42T; Boston Water Power, 1sH bid; Adams
| Express, 67H q es; wells-Fargo Express, 15N
| 16; do. scrip, bid; American Express,
48h; United States Express, Asa bh New
| York Central consolidated, 1OoX 1904; do.
scrip, ok q 971s; Harlem, 146,a l461; do pre-.
ferred LAG bid; Erie, 2S,s "a; do. preferred, al a
| so; Reading, 1885 1oSk; Michigan Central, 124k
bd Lake Shore, 1Oo& 10e3s Illinois Central, 142 a
143; Cleveland and Pittsburg, 107x a loIK; Chicago
and Northwestern, s37S sax; 10. preferred, e2tz
92ys; Cleveland, Columbus and Cincinnati 79x a 80;
Rock Island, l25A a 1253s; Milwaukee and ST. Paul,
67H; do. preferred, s2% SAX; Toledo and wabash,
So. 59ss; do. preferred, rs bid; Fort Wayne, s194