The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-01-27
FINANCIAL AND COMMERCi


THURSDAY, Jan. 26-6 p. NJ.
There was better feeling in Wall street to-day,
and more activity in business. The news from
Albany is not favorable to the passage of the toll
ing and pro rata bills; public Indignation seems to
be aroused to an unexpected pitch at this impu-
dent attempt of q few canal forwarders, millers
and hungry politicians to drive the trade of New
York into Pen osylvania and Canada. From Wash
ington, too the advices received by leading baak-
ers favor the prospect of an early organization,
with Mr.. Sherman as Speaker. Hence more
general Willingness in the street to-day to lend mo-
ney and to buy stocks.
At six per cent money is very easy We hear of
some call loans at q 81, though six is still the
rate asked everywhere when parties come to Dor.
row. The rates for drst class paper range from
10 per cent? We hear, however, of very choice
line of paper, with thirty days to run, which was
done today at 6A per cent If the House organizes,
short paper, of prime grades, will not sell above
9 per cent
There ia not much doing ia foreign bills. Francs
ore shade firmer; Southern bills sold to-day at
5.2ll. The leading banking houses are asking 100
Tor sterling; we doubt, however, if any business
beyond mere retail sales has been done above 1881
al. Commercial bills are quoted at 1881
Sight exchange on New York sells at Chicago
ut three per cent premium for currency, and par
for gold. In other words, the Chicago bankers are
resisting the redemption Of their notes with such
ohstinacy that they have fallen to three per cent
discount The bank which was lately condemned
10 redeem fairly and squareiy, and not TO consume
whole day in paying man . thousand dollars,
has appealed from the decision to the Court of APP
peals; the Chicago merchants now hope that they
I'LL Ia o1ai IN ind ooffh houE
have done 30 much mischief.
The business in New York Central to-day was
large; several thousand shares changed hands at
An advance. The price at the opening was 70, in
the middle Of the day 73a, and at the close 73i,
against 723 at the close yesterday. Several shorts
closed mp their contracts today. Among the
Western shares, Rock Island was the strongest 1t
opened ut $50, an advance OF from the closing
price yesterday, and closed 6sl bid. The President
and Superintendent are now in town; they speak
cDcouragingly Of the prospect for passenger bust
in the spring. the freight business is the largest
ever done upon the road at this season since it
opened. The earnings Of the third week ia Janu-
airy were $l9,322, against sl3,sl6 same week last
year; increase 5000 40 per cent Galena
was done at 593, dividend or-lower than the
stock ever sold before. Reading was in de-
nand at an advance Of per cent; the Phila-
delphiaus buying again. Panama advanced
per cent, closing 1920 bid, against 1871 at the close
yesterday. There was better business in bonds
to-day: Mssouris we're in demand at an advance
Of l, and other descriptions were likewise better.
Federal SIS Of IA fell of again; We note sale at
ipfemium. In the afternoon the market was fair.
]y active, and stocks closed steady at the following
quotations. Virginia Gs, eli }; Missouri c's, 79l
B; Canton, lGs IL Cumberland Goa preferred
l5a !; Pacific Mail T6s az New York Central,
73} &; Erie, 81 B; Hudson River, Al /! Har-
lem, ol l. do preferred, 80 u Reading, aSl n
80; Michigan Central, 3s4 4; Michigan Southern
and Northern Indiana, a Il do. guaranteed, Is a