The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-31

now hold 10 an amount exceeding go 0o 70 refund
any par or the whole Of in species expected 70
afford IN the mercantile community the accommodation
which n large and prosperous import trade Will re-
oure. exuanded already beyond all reasonable Limit,
thew NAV almost before they know it, find themselves in
uositiop Of exceeding peril Several banks, apprehend-
ps trouble this week. in concert with private bank
rs raised their for loans call from four 70 five per
cent ana called their loans the former figure But the
has yet become general quote call loans
on government securities at g. and railroad bonds,
&C. at s. the beet short endorsed paper done at Az
b1s; longer dates at all SINGLE names 6aea7; second
quality Gas al0. Exchange on Europe continues 70
v,brate around the specie shipping point is held by
hanks and bankers at 1091s u y for sterling, and
612X $40 for francs Good mercantile bills can be had
as usual considerably below these rates.
The event OF the week has the award OF the 60
yernment Loan the facts concerning which have been
thoroughly stated and reviewed In these columns that
necessary 60 the ground afresh The re-
serve foreign bankers continues 10 provoke CON-
nent We believe that with one exception not single
London or Paris sent in bid for the loan; and the
single exception obtained The representatives of
European houses here make secret OF their belief
that in the present condition of the money MARKET and Of
the potca affairs of Europe United States five per cent
bond not really worth par and that before next
winter il will not sell pa. They found their imprcs
sons chiefly on the great demand for money which is
sprngng up throughout the globe and which, under ord
nary circumstances, must tax to 1he utmost
the capacity Of all the financial institutions o
the commercial world. 1t cannot be denied TIM
the loan has fallen into weak hands. No sooner had
The price risen TO 1881 in consequence OF Mr. Cobbs de-
cson in reference to the coupon than the market
tbrongcd with Sellers and the price instantly receded TO
lo3 At this figure, successful bidders who take their
and thuAh hack int
leshan one quarter per cent by the operation and it is
quite evident that many Of them to try TO make this
small profit The market would give way. This result may
probably be looked for next week. It is likely that in
few days will be impossible TO borrow on these certif
at lees than Gve and holders OF course, would
under such circumstances lose money by holding them
The feature of the stock market continues to be the
operations Of the leading bull, whose movements have
been the theme Of much comment in the press and
among the public He continued throughout last week
70 sustain the market by bold and ndiscrminate pur
Towards the close Of the week was rumored that
was selling out, and the market showed at once ten
aedcy give way Publicly, TO the last, he was buyer
especially yesterday Of New York Central and Reading
Should this operator bay, il would appear that
nothing could prevent heavy decline in market prices
The interesting movements Of the week have been in
Pacific Mail and New York Central The latter has alter
nately declined and advanced with mercural vvacity
AL kinds Of rumors have oat with regard to the
rendng negotiations with Vanderbilt who, it is rumored
the chief seller of the stock Nothing ia known outside
Of the office Of the company and movement Of eight or
per cent either way would not be surprising The
dispue between the New York Central Railroad and it's
rivals with regard 10 the Convention of October
undere,ood to have settled yesterday at Washington
by concessions by the Erie and Central to the claims of
the Baltimore and Ohio. This in effect gives the latter
monopoly of the early spring freightlng business.
We subon our usual table Of the stock fluctuations Of
no wee =