New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-05-06
THURSDAY, May 5-P. NJ.

There has been buOyant and firm tone to
the stock market to-day, and prices have been upward
from the opening and the feeling has been strong for an
advance on the general list OF all wellmanaged roads
We regard election OF the officers Of the Lake Shore
and Michigan Southern Railway yesterday at Cleveland
as an important matter 10 NewYOrk "a it secures the
immense travel and traffic Of that great line and its con-
neeons to this city, Other interests, not OF New-fork,
have been looking after that connections now we nave
secured the traffic of the c. c. c. and Indianapolis the
Toledo Wabash and Western with their connections Tor
this city, and these long lines of internal communication
with rapidly increasing business secured to our
city; and this is cause OF congratulaton
In this day of enterprise and strife for trade and com
merce The Lake Shore the c. c. C. and Indianapolis,
the Toledo Wabash and Western, the Chicago and Rock
Island the Chicago, Burlington and Quincy the Chicago
and Northwestern, the Atlantic and Great Western and
Milwaukee and St. Paul. all important feeders OF
the Erie and the n. Y Central and Hudson, and these
lines all belong to NewYork by reason of their connec
tons and management The business Of these railways
must yearly increase. Now and then there may for
month be falling off in receipts, to be reganed
in large manner when the great crops OF the West
forward.
As money is easy call at and per cent, as banks
and bankers are anxious to loan, and National Bank
notes have been offered without interest from three to
five days. and prime commercial paper il selling at from
to per cent, and confidence OF business men in the
future the certainty Of prosperity unknown
we know why the feeling in the market should not
be firm and strong An occasionally set bach" may
come, false reports" may disturb operations for an
hour day, but there is to he rally Of prices
advance along the whole line" especially when
stocks have ruled as low as they have done for some
months past Harlem to-day has sold at the Stock Ex
change at 12i NewYork Central and Hudson, 97a d9s
do Certificates, 9i69is; Lake Shore, 9s99ss; Toledo
and Wabash 53I ajib Milwaukee and st. Paul, 65l do
Preferred, 7Ss; Chicago and Northwestern, s00Sl5
Rock Island 1923; Ohio and Mississippi S7ia3Sd Cleve
land and Pittsburgh LOG! Reading, 1923 diO5 The Stock
market closed very strong and active.
Government bonds have not been quite strong TO-
day. transactions have been large especially in 52Os
of 1sG7, coupon. at 1874 d3.; do, lG2, llllG1lb do
1864 llO do 1865 l0 do new l2i l13; do 1865 11Ss
The uncertainty to the legislation of Congress in
gard to the Funding bill affects the market and holders
a well investors know not what to do IL would be
well if Congress in session here in this
great metropolis where the business pulse Of the people
could be- felt at all times, and observations be made with
much certainty possible in matters of finance and
trade This is tie center of all business and the pus
lions here indicate at ali times the state OF things
throughout the country.
Transactions In state stocks moderate in amount
with Tennessee 6s excoupon, at COT d60s do new $50 "a
falling off in the new. North Carolina Ca steady
at 23sa23l; Virginia g., excoupon 692 Another good
cotton, rice, sugar, and crop will bring up the
curities OF the Border and Southern States with any
thing like udicous management of the State finances
Bank stocks neglected almost entirely; prices too high
for the purchasers Sales OF Central at III Bank OF
State of New York lO6 Park Bank, l66 Commerce. $780,
In Railroad bonds there a fair amount Of saes
with prices well maintained. Cleveland and Toledo 9.
f. bonds, l0 Morris and Essex I'd, 90 Milwaukee and
ST. Paul. 93i C. c. and Ind Central LIST mortgage, $50
So.
The conflicting reports from Berlin have been quieted
to-day by the following dispatches In reply to inquiries
from houses in this city:
berlin, May S, 1870.
Seniors OF the Berlin stock Exchange warn the public
about as follows: We are informed by reliable sources
that to the prejudice of the German public the introduce
than heretofore is intended This induces to caution
the public against the purchase Of American securities
guaranteed by the United States Government.
"BERLIN, May 5, 1870.
Merchants Board cautions against Railroad bonds Of
ernment."
II is stated the decline In railway bonds in Boston
within few days has been from to IL per cent, inu
enced by the warning above given We have railroad
bonds not guaranteed by the Government good any
securities can be.
The following are the highest prices reached by the
stocks named to-day New York Central and Hudson,
esq., do. Certificates 9; Harlem, 1924; Erie, 2i Read
ing O3 Lake Shore, os Wabash; 6is: Pittsburgh, lO7
North Western, SIT; do Preferred 9. Rock Island, l2s
Milwaukee and ~. Paul, est Ohio and Mississippi, 3ss
New Jersey Central, 10; Pacific Mail, 43l.
The Gold Room has lacked animation to-day, the fol-
lowing being all the changes recorded AT 10 gold
quoted at l4a at il:ls, ma ll:25 l 1877, ll;
1880, lts 1882 1l!a 126, llia; 14, lli Iis, llii
205, 1lit; 3i0 ia SIS, 1lisalit. and very heavy
This OF the dulles days OF in the
Gold Room, and is only "prcmonitory symptom OF
what is soon coming IL Congress does it, duty.
The transactions OF the Gold Exchange Bank were "a
folows Cearances, $2556.oOo gold balances g. 5O5Gs7
currency balances, 1856 Holders Of gold paid from
Al to per cent for carrying over balances.
Foreign Exchange has been dun but steady The news
points and OF considerable stock la the interior has
aztec ted exchange The following are the nominal rates