The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-19

WEDNESDAY, Jan. 1876 p n.


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WEDNESDAY, Jan. 1876 n.
TAs esse in the money market noticed yesterday
vas quite as marked t0day, though rates are still
maintained with a great deal Of hrmness- On cal,
The supply at is in excess Of the brokers' wants,
hut no one is willing to part with his money De-
bow seven, until the prospect becomes fair that ne
will have to keep it over night unless he accepts
or 81. At the discount houses the supply oil good
paper is still in excess Of the money seeking IN
vestment in notes and we quote, accordingly, hrst
class short accebtances at T. and the very best mer-
camille paper, over sixty days to rum at 8, with
little currency at the lower figure. Capitalists are
still uneasy about the state Of political Affairs and
the non. organization Of Congress; many look for q
disturbed condition Of affairs and an active money
market throughout the year. They argue that the
Presidential election ia sure to agitate the pub
lie mind to such an extent as to dis
tsrb confidence, check enterprise and limit
commerce. Should the quadrennal contest have
this effect It will be an unprecedented crcum-
stance. The country never knew more prosperous
years than 1852 and 1856, the years in which Pre-.
sidents Pierce and Buchanan were elected. The
public mind in this country is elastic and recupera
tive; il speedily adapts itself to any condition Of
circumstances. An alarm which terrifies, or an ag
tstion which distresses the public at first, often
ceases after time to produce any effect; people
become accustomed to it, and carry on their bust
ness as usual. II remains to be seen whether the
Presidential canvass Of 1860, which, in some re-
spects, promises to prove the most embittered In
our history, will work in this manner, or whether,
~ many large bankers and others interested in
high rates for money are fond of predicting, the
year 10 destined to be dull in business and marked
BY no general revival Of confidence.
The steamship Arabia, from this port to-day,
carried out 1882 1886 in specie.
The foreign exchange market closed with the
armness noticed yesterday afternoon. Several
heading bankers asked 100 for sterling, and though
we hear Of little business done over l0s3, the
market looks as though rates would be higher for
The next packet The price of exchange must
mainly depend on the importations Of foreign
goods. II the importers, especially of dry goods,
continue to import foreign goods as freely al they
have done thus far in January, exchange will rise
above the specie shipping point in March, or per-
Aaps February Leading dry goods houses assure
- that in a short while importations will fall off,
the prices in foreign markets being such to leave
NO profit on purchases from them. This assertion
win, Of course, be received with due caution. SINH
lar assurances were volunteered by the dry goods
importers throughout last year.
There was again much better feeling on the
etsck Exchange this morning, and stocks advanced
MI round, New York Central, Galena and Rock
Island being especially active at the advance. Cen
ial opened at IA, advanced to 74A, and sold at rs
On time but was lower in the afternoon and closed
at "a bid. Rock Island was in demand at 633 for
saah in the middle of the day, and closed So bid.
GAlena was done at 62l closing at 62j bid. Toledo
sola at l9A; tho increase on the second week Of
January was IS 500. State stocks and bonds were
more in demand. In the afternoon the market was
well sustained, with the exception of New York
Central and Illinois Central, and stocks closed
steady ut the following quotations. virginias, OIL
I; Aissouris, 79t 4; Canton, l63 III Cumber-
land, l5A 1; Pacific Mail, 75a 7s; New York
Central, "a q 1; Erie, 81 q 1; Hudson River, All
AZ; Harlem preferred, 32A 50; Reading, SIT q 80;
Michigan Central, 81 Z; Michigan Southern qua
ranteed, Isl q 16; Panama, 1871 a 4; Illinois Gen.
1ral, 56i . 81; Galena, 62t 4; Toledo, lst, and
Rock Island, 63 al.
The business at the Sub-Treasury to-day was as
folOWs-