The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-01-16
FINANCIAL AND CONNER ClAL.
THURSDAY, Jan. l5--6P.

THURSDAY, Jan. l5--6 p. NJ
The money market. 50 far as we can learn. IL
easy enough. Established houses borrow all they
want at per cent. Some of the banks and bank
crs demand twenty and twenty five per cent mar
gins which Inconvenience weak spectators and
forces them in instances to sell their stocks.
But there is no strngency in the market and no
difficulty in getting money. In very few days
competition among lenders will reduce the amount
of margin now required to the old figures. So fur
as the public interest is concerned, the banks had
far better lend stocks than gold, as they are
now doing to an enormous extent.
The gold speculation is unchecked. Gold sold
to-day before the board at $50, at the first board
at 1857, at the one P. NJ. board at lis14, at the
second board at l4s, and closed at five P. M. at
l47T bid. Gold has thus advanced Is per cent In
a couple Of weeks. victory would cause smart
reaction but 1t is doubtful whether anything else
would. 1t is difficult to give reliable quotations
for exchange. The bankers ask l63 1874; but ws
hear of no transactions at these figures.
The business done at the Stock Exchange this
morning was very large indeed; but the movement
of prices was rather irregular. Before the hoard
rs was bid for Erie, and other shares were firm at
an advance over last evenings prices; but at the
regular session enough stock was slaughtered to
cause q decline Of q IL from the high rates Of
the morning Quite number Of weak holders,
who are unable to comply with the new require
ments of the banks and put up 20 rs per cent
margin, are being relieved Of their property This
process gives an appearance Of weakness to the
market, though in reality the amount of orders
to buy which are daily executed by the com.
mission houses are unprecedented and founda-
ton is being laid for an advance quite as sudden
and extensive as any that have been witnessed.
Governments continue weak. The skies of 1881
declined y this morning and there were sales Of
the 1870 notes at par. State stocks were dull and
lower. The movement in these securities appears
to have exhausted itself. In railway bonds the
business done was small, mainly owing to the light
offering. Shares were very active. Comparing
the prices Of the first board with those of last
evening, we note an advance o "a in Pacific, a in
Central, "A in Hudson, "a in Michigan Central, x in
Reading and l in Fort Wayne, and decline
of "a in Erie, "a in Erie preferred, l in Harlem
preferred, l in Galena, q in Rock Island, "a in
Illinois and Il in Southern old. The movement
in the cheaper fancies is not as active as II was.
Cumberland has fallen per cent and Canton lL.
There seems to be quite movement in Bruns-
wick City Land stock, which has been selling
pretty largely at 10 per cent. II is intimated by
parties who are in the secrets Of the concern
that arrangements have been made by which
Major General Hunters arrival at the South will
be followed by the development Of measures cal
cuated to render Brunswick City place of i'm
portance, with a government navy yard, depot
&c. As the port is well known to be the best on the
Atlantic south of Norfolk, there may be possibly
something in these rumors; enough, at all events,
TO tempt the cupidity of the spectators who have
thus far made money by buying stocks, not be-
cause they were worth anything, but because they
seemed cheap. At the one p. NJ session Of the
public board the market was not very active, aud
there was no material change in prices. At the
second board the market opened without change
but rallied at the last, and closed very firm at an
advance Of x over the morning prices AT
the four p. NJ session Of the public board the
market was all better. Governments were ia active
request, at an advance Of for the 7.s0 notes and
2por cent for the skies Of $751; There was more
disposition to buy railway stocks and at the close
the market appeared to tend upward. The follow.
inc xyor he Iaatu afi