The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-07
FINANCIAL AND scoMMERc iAL.
TUESDAY, Jan. 6-8P.I

II r. II.
The good news from Tennessee and Mississippi
caused much buoyancy Of spirits in the street to-
day, and encouraged people to proceed with enter
prises which have been neglected for some time
Money was more abundant to-day. At twoP.M.
moro money was offered at per cent than the
street could use, and in some instances balances
were offered at s and refused. Certificates Of
public Indebtedness advanced Il per cent, and
were firmly held.
Exchange was dull to-day at 14s a n, in con-
sequence. Of the good news. Gold opened at ia,
rose TO 1917, sold in the afternoon at 1917, and
closed that bid. Gold would have advanced
considerably on Mr.. Spauldings bill, but for the
news from Tennessee, and the hope2-which Is still
entertained in some quarters--that cotton will be
discovered and sent to market by some Of our ex-
petitions. o@i a oi'a laas #tfs3 ~
The stock market was buoyant to-day, and
prices were again rather higher, though without
excitement in the market. Mr.. Spaulding's bill
had the effect of stimulating purchases Of dividend
paying stocks. II seems to be generally supposed
that whether this bill passes or not, some similar
measure will have to be adopted, from the simple
reason that the amounts required for the war are
too large to be obtained either by loans ex-
clusively or by legal tender issues ex
clusivey. New issues Of paper would of
course stimulate an advance in all descrip-
tions Of dividend paying property. Atthe morning
board to-day the bond list was not quite SO firm
as yesterday morning Northwestern seconds
declined 70, and some other descriptions were
fraction lower. Missouris advanced "a per cent
The rumor is that the Legislature of Missouri will
obtain from Congress large amount Of bonds for
the redemption of slaves in that State and that an
arrangement will be made whereby the creditors
Of the State win obtain portion Of such moneys.
We can conceive no plan by which such a scheme
can be carried out. At the public board, at one
p. NJ, the frmest stocks on the list were old Erie
which advanced "A per cent az compared with last
evening; Illinois Central, which rose az on the
probable opening Of the Mississippi; Southern old,
which advanced 1 per cent, and Hudson River.
which rose j. Pacific Nail advanced "a, Erie
preferred u, Rock Island x ). and Prairie du
Chen q. New York Central was dull at decline
Of u per cent, and Michigan Central, Pittsburg
and Toledo were neglected At yesterdays quota
tons. The course u speculation is very errasic,
and stocks move without much regard to intrinsic
values. Prairie du Chen has risen three per cent
within . day or two, on story that there was to
be dividend; at the once Of the company every
one Ia told that nothing Of the kind is contsmplat
ed The most reliable and safest stock on the
list-New York Central-is dull and neglected at
the price which Il reached sixty days since, while
number Of cheaper stochs, with very little, n
any, intrinsic value, have risen ga 10 per cent.
At tho second beard the market was Irregular
prices being in some Instances fraction lower. IN
others shade higher At the pablo board, ct
four p. NJ, the market continued rather irregular,
--sax -
Witnessed Of late. Stocks closed firm, the follow
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