The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-27
FINANCIAL AND COMMERCIAL.
WEDNESDAY,. Jan. 2f-Gp M

WEDNESDAY, JAN 26-6P NJ
The amount paid into the Sub Treasury to-day, on ac
count of the new loan, 81 O9S 3d. making with
$4,000 paid in yesterday, altogether 81 $3.50 098 It is
not expected that the payments will be promptly made
on this occasion the case in Az. t last Many
Of the successful bidders will be likely to wait for fur
ther advance before claiming their bonds Still three or
four millions may be paid in within days The bauk
reserve of specie will be reduced by all is paid INTO
the Treasury, while the loans will be increased in
corresponding ratio. This process of loan expau-
sion and bullion contraction is going on at
the other financial centres as well as here
Yesterday the Boston banks Showed of $3.50 900 in
Specie and increase of ia loans Phadel
pha banks decrease of specie of $780, increase
Of loans equal to $50 67 Should the imports continue to
increase at their present rates the banks will soon find
themselves compelled to adopt different policy How
much better would be for themselves for the public
they anticipated the pressure, gradually contracted
their advances
Money is active among the discount brokers' and
rates a shade higher Paper which was lately done
at is sold with difficulty at 5X and notes
at longer dates which have been market.
able at are not done under T. As tho
spring approaches the legitimate necessities of
will naturally absorb the capital which employed
public loans is reasonable expect that shall
money worth seven eight per cent again before mid
Exchange Europe, contrary all experience
at this continues 10 range above the specie ship
ping point The necessities Of importers the one hand,
and the exceedingly small export OF breadsuls the
other will probably, for the first time, prevent any
ton in the shipments Of specie to England We
quote bankers sterling at 1898 Ak, and francs
5.l2k SIS.
The stock market again subject to-day to the in.
huence which has ruled il for the past few weeks The
leading bull conspicuous ever, buyer Of all
inte If snrur md a rnIa 4ba
buyer at the board is the general opuiou Of the
kers that but for the persistent courageous purchases
Of this bold OPERATOR decline in prices would have
inevitable, and the temper OF the is such that
nothing but miracle prevent that decline taking
place soon as he ceases to take all the stock ht
offered. So long, Of course the banks ready to
lend yhing and everything rates Of
interest, and so long the political horizon
couded it will be the power of any operator with ade
quate and resources to prevent decline prices by
purchasing all the stock that offers below certain figure
and this is what the leading bull is doing II the banks
were to inaugurate conservative policy, or if
any political accident to disturb the peace Of the
world it would be out of the power OF any single house
to resist the downward tendency Of the market aud the
results, in such case, well be copjecturei In the
meanwhile the Of the leading operator is the
astounding phenomenon that has been witnessed in
Wall street since the party rendered him
self so conspicuous couple of years ago as
seller. This morning he bid Harlem preferred up TO
441s per cent an advance in few weeks of % cent
and was the chief not the only buyer at the highest
rates. Other Stocks in lke manner, maintained
yesterdays prices and in two instances caused to
advance trfe by the same agencies. Reading appears
to be partially recovering from the decline. Pacific Mail
fen of this morning, the supply Of cash stock being
cess Of the demand. The Western shares generally
were steady The new loan was sold to-day at
no,< 49,, a.. - - - ~ 49,,
price that the price soon dropped to 1884.
The closing prices of the day were as follows
Mssouris, s6h: Central, SAX a q; Reading, 491S "a
Erie IA 81 Michigan Central, 523s 4; Southern qua
ranteed AK X; Panama 117lx y. Illinois Central
6sl6 a y: Galena 69ls x; Rock Island, 81 H. The
market closed steady.
rhe foIIourno una tbe businces or