The New York herald., 1870-03-28
FINANCIAL and COMMERCIAL.
WALL STREET.

SUNDAY, March 27, IS1O.}
Business at the Stock Exchange was less active
during the week as compared with transactions ear
ler In the month. In
THE STOCK MARKET
prices at the opening were frmer and higher than
1t the close OF the previous week, but declined upon
the development Of weakness In the miscellaneous
and mining shares and upon the continued
heavy decrease In the earnings OF the principal
Western railways. There is little disposi-
tion to operate extensively either way. and
hence the resulting dulness, the absence
OF ''oriers" being again general complaint among
the brokers. The expectation OF an acuve Ii not
stringent money market has been disappointed, the
demand from the country for currency being 30
light as lead to loss OF less than hundred thou.
sand dollars legal tender by the banks during the
week. The absence OF this ally has checked any
thing ike determined "bearn movements against
the stock list, while the impression that money may
become suddenly active any time before the LIST or
May has kept speculative buyers out OF the market
Under this inactivity prices became heavy and
underwent decline In the later transactions OF the
week. especially as
TIE GOLD MARKET
became weak at the same time, under the better
prospects of passage OF the Funding bill and
more favorable showing In the exports Of the week.
Before this time gold had been steady and Quietso
much so rs to lose It's speculative interest. Indeed
1t was the selling out OF disappointed "bulls" that
assisted the decline The highest price was ll2 and
the lowest 1l1H. From this latter figure there was
fractional recovery on Saturday evening in conse-
quence OF sudden increase Of nearly two millions
In the imports as compared with the previous weeks
return.
THE GOVERNMENT MARKET.
The government list was heavy aud dull until the
1ou Aav Vubn with
yielded to loS and the other issues correspondingy
The transactions In the market have been very light
and rar below the average at this season.
SOUTHERN SECURITIES.
In the department OF Southern State bonds there
was moderate activity in the general list with
siderable activity in the Virglnias and Loulsanas
both OF which were pressed for sale reports OF
sharp reaction In the foreign speculation in these
securities. These the features OF the list bur
there was fair movement and stronger feeling In
the South Carolinas, Tennessees and North
Carolinas.
THE MONEY MARKET.
The prevailing rate for money, with pledge OF gov
ernment and miscellaneous collaterals, was four to
Ave per cent with exceptional offerings as low as
three per cent where balances had not been employed
early IN the afternoon. Commercial paper was
steady at seven to eight per cent for prime double
names. Foreign exchange was inactive aud barely
steady at the close on the basis Of 1Oss for prime
bankers sixty day sterling.
THE BANK STATEMENT.
Except In the Item OF loans the banks show very
little change from their condition OF the previous
week. The decrease in specie has been only about a
quarter Of million. The other changes are unim-
portant. As anticipated the item OF legal tenders
exhibits almost cessation Of the iow Of currency
to the interior The last two statements compare as
fOllOws.--