The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-03
FINANCIAL AND COMMERCIAL.

FRIDAY, Jan. ID r. M.
The money market is very easy at per
cent few Of the brokers paying more than the
former rate. Demand notes advanced to l29 this
morning in sympathy with gold. Debt certificates
continue to iuctuate between 96 u.
The expected movement in gold, based on the
prevailing expectation of further issues OF legal
tender notes, commenced to-day. Gold rose at the
public board, at one P. NJ, to l342 sold at 1917 in
the afternoon and closed at l34ss bid. Exchange
advanced to lat I4s, and at the Close Of the day
drawers were unwilling to name rate. The
amount Of business done was small. The amount
of gold which is being disbursed by the general
and State governments for interest money cannot
fall far short of ten million dollars, and it would
not be surprising if the market showed some sign
of weakness in consequence.
The stock market continues active and excited !,
and prices continue to advance. The public are
evidently becoming interested in the market, and
the "green back fever" promises,to become gene
raj. At the morning board to-day large amount
of business was done, and prices were all higher
than on Wednesday. Bonds Of all descriptions
were in active request. The bonds of the North
awestern. both issues. were 1H per cent higher.
The Fort Wayne thirds rose 2 per cent. These
thirds are selling at only l6 per cent above the
common stock. while Erie preferred is,s2 per cent
above Erie.common, and Southern guaranteed Al
per cent above Southern old. At the one P. M.
sesson Of the public board the market was ex.
tremely buoyant. Missouris sold at G5 per cent
an advance Of Z per cent since Wednes.
day. Government 7.30 notes were Il per
cent higher on q rumor that new
issue of currency would preclude all at
tempts to negotiate q loan. All the railway
shares were higher. Comparing the prices with
those Of Wednesday afternoon, we note On ad-
vance Of per cent in Central, in Erie old. in
Erie preferred. TX in Harlem preferred, Y in
Michigan Central, "A in Southern old. q in
guaranteed. in Illinois, TX in Galena, 4 in Rock
Island, II in Fort Wayne stock. per cent in Pa
| cifc Mail. and in Toledo. A large purchase Of
| Cumberland was made at an advance of / per
osnt. We learn that the company has got fairly
to work again, and the present high price of coal
will doubtless affect its prosperity materially.
The other coal stocks have advanced 10 per
| cent within Q month. and are very firmly
held. Erie and Rock Island are both extreme
ly active. Nothing has transpircd officially
with regard to the dividend on Eric preferred; but
It is taken for granted in the street that seven
! per cent will be paid very shortly. The Official
statement Of the Rock Island shows a surplus OF
81. per cent on the stock after payment Of the
dividend. The Michigan. Southern is the only one
Of the Western companies which has not either
declared or intinated . readiness to declare a
winter dividend. As it is known, however, that the
directors have very large sum Of money on hand
some division of profits cannot long be delayed
The holders of the guaranteed are willing to cancel
their claim for arrearages receiving their ten
per cent regularly hereafter. Pittsburg and Fort
Wayne stock is attracting the attention Of parties
who have sold out higher priced stocks. At the
second board tclosed) the market was irregular
Missouris and Erie preferred being rather lower
the rest Of the market firm. At the four p. n
session of the public board the market continued
quite buoyant. with general public inquiry foI
railway shares. The following were the closing