The New York herald., 1870-04-23
AN EASY MONRY MARKET.

currency balances ........s.............. VZZ,9ZS
AN EASY MONRY MARKET.
The feature OF the day was, however, the sudden
relaxation in the rate on coll loans, which, on prime
c0llateras-such as government bonds and to houses
Of nrst class standing-were made at three to four
per cent. There were exceptional transactions at
six per cent on miscellaneous securities, but the
prevailing rate among the stock houses was nvc per
cent 1t seems that the expected drain OF currency
for the requirements OF spring has been 30 long de.
ferred that an easy money market is confidently
looked for the rest OF spring and summer. The
domestic exchanges arc strongly In favor Of the
city, and the banks report great accumulation Of
national bank notes IN their deposits. They are
also discounting for their customers quite freely,
while prime acceptanGes were in demand on the
street ana current at seven to seven and half
per cent. Foreign exchange was dull, owing to the
better supply OF bills drawn against bonds, but
quotations closed firm on the basis OF 1925 for
prime bankers sixty day, ana 1929 for sight sterling
bills The effect Of the abundant offerings Of money
was
''BULL" MARKET FOR STOCKS.
The enthusiasm Of the speculators for a rise was
overnowlng, and, although transactions were not
up to the average volume or business, the stock
market was buoyant and strong. prices advancing q
half to two and half per cent, the latter extreme
being attained in the case Of Pitsourg, which sold
at lOlX. The ease IN money seemed to give the
"bul" cliques fresh courage and equally disheart-
ened the "bears," who covered large amounts
OF heir outstanding contracts The leading features
In addition to Pttsburg were Lake Shore, which
advanced to 91-the report OF Vanderbilt patron
age OF the road being again circulated-and Ohio
and Mississippi which touched 30T. The real
secret OF the rise in Lake Shore is the extensive
purchase Of stock against the puts" sold bv the
ex.treasurer of Erie, who therefore bound 10 keep
onnuo 60 fOrf rho autn M birtv Aovs ha
report that the Vanderbilt party would elect Horace
+. Clark president was very skituly employed last
year to cell stock the public Should such be the
real intention Of the party this year, the announce
ment Of 1t beforehand Is apty calculated to get al
the sceptical 'bearsn short Of the stock The Han
nipal and St. 10 clique still move their stock along
the integers and fractions. They have now ad-
vanced 1t to 11oH. The public should remember the
imposition practised last year and let these shares
severely alone. Nor should the professional "Dears"
sell them short for the clique have bought all the
stock from l04 upward anu can twist those who go
short. Wall street should not touch Hannibal and
ST. 10 .lonQ" or 'shOrt.n Those who own real
stock should sell 1t out at once and get the price
which the clique are now bidding In hopes OF buying
'shorr' stock. The results OF the business
Of the day will be seen In the table Of
highest and lowest prices Tho following were the
closing prices at the last session of the Stock Ex
change:- Canton, II q 72; Cumberland, 20Z q 81;
western Union, 80 q 327s; Quicksilver, sK 91s;
Mariposa, 10; do, preferred, 1871 1871; do.,
certificates, 421l 45; FIRST preferred, s6 q 45;
Pacific Mail, 361S 81; Boston Water Power, 16S q
1e1; Adams Express. 61A elN; Wells
Fargo Express, 10K q 19%; American Ex-
press, 3s $50; United states Express,
ASK q A; Merchants Union Express, bid;
New York Central, consolidated, s3x 93,s; do,
scrip ssN s9N; Harlem, AK 142h; Erie,
AKA 24x; do. preferred, 40; Reading, 991S e9,S
Michigan Central, 123l4 12411; Lake Shore, s9A a
s9X; Illinois Central, 1Ss1a a 141; Cleveland ana
Pittsburq, 100 1oOH; Chicago and Northwestern.
TAX TAN: do. preferred, s5sI 1885, Cleveland,
Columbus and Cincinnati 761z q rs; Rock Island,
llsX III; Milwaukee and st. Paul, 599l 59M;
do preferred, 1917 "A; Toledo and Wabash, 90
a 5o,I; DO. preferred IS; Fort Wayne, 92lE 952d
Alton and Terre Haute 81 a 49,; do. preferred. &C;
Ohio and Mississippi, aO3s 3o11; Delaware and
Lackawanna, 103< 104; New Jersey Central, los a
l05s; Chicago and Alton, Ill 1l1k; do. preferred,
1l3A; Morris and Essex, 92I 90; Hannibal and st.
Joseph, 1Os1l q ITO; do. preferred, 1925 a 1O9%;
Iron Mountain, 43zi q AK; Dubuque and Sioux
CITY, lo7 1o7A; Columbus, Chicago and Indiana
! Central l7j4 o Tx.
HIGHEST AND LOWEST PRICES.
The extreme fluctuations in the leading specula
| tive stocks were a. rolows:--
| New York Cen. 4 Hud. consolidated. 93L 90 4
| New YORK Central Hudson SCRIP. 8DT 6g,.