The New York herald., 1865-12-28
FINANCIAL AND cOMMERC



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WEDNESDAY, Dec. 27-6P n.
The stock market was dull and unsettled to-day till
late in the afternoon when became drm and general
fractional advance Of pnces took place AT the early
session Of the open board Erie sold a, 95s, New York
Central s5h, Reading 1o6al Michigan Southern a.
Cleveland and Ptsburg s2. Northwestern 35 preferred
6ik Rock Island lo6A, Fort Wayne l05, Mari
oosa I4s1 preferred lsk At the first regular board
the transactions moderately large, bat main
Iy on sellers and buyers options Erie closed y
higher than at the haIf.pa two board yesterday
Northwestern u. Rock Island, Fort Wayne and
Quicksilver were steady. New York Central was "
lower, Reading u, Michigan Southern h. Cleveland and
Pittsburg x, Northwestern preferred e, and Ohio and
Mississippi certificates y. Street railroad stocks were
inquired for There sale Of Sixth Avenue Railroad
stock at 1885, and 6s bid for Second Avenue, but
none was offered under Is Government securities
quiet but firm. Coupon Eve twentes Of the old issue
were y higher. Seven. thirty notes were steady.
AT the one o'clock session the market touched its
lowest point quotations being fraction below those of
the morning Al the regular board at halfpast two
O'Clock the market developed improving ten
dency Erie closed y higher than at the
frsi board, Michigan Southern y, Cleveland
and Pittsburg u Cumberland l. Reading Fort Wayne
and Quicksilver were steady. Northwestern was heavy
showing decline Of II preferred x. Government
securities strong Coupon 1ve.twcnties OF the old
closed higher third issue a. thirty notes
Of the first series 4, second series y.
AT the half past three board the general market was
stronger aud prices underwent further fractional
provomea. New York Central closed on the call at
95. Erie 95% Michigan Southern 74i& Cleveland and
Pttsburg s2i Cleveland and Toledo 1llZ Northwestern
So, preferred olh, Fort Wayne 1051s Ohio and Misss-
spp certificates 2SH, Canton Company 45n Schuylkin
Coal IAN.
Afterwards, the street. there an increased de-
mand for stocks, and especially Cleveland and Ptsburg
which at hafpast Eve o'clock wAs quoted at s3I s31s
The supply of money largely in Of the de-
mand on the Stock Exchange, and very few call loans Of
importance were made above per cent The discount
line reported to be working easier per cent for
drst class paper. Lenders anticipating active
demand from the street. which will the rate
for money at call to seven per cent again. and this ex
pectation Will probably not be disappointed Ut least 30
far as concerns brisker inquiry. The stock market
has been in state Of semsagnation for the last week.
and there will probably be important to
disturb the dulness Of affairs during the remainder Of
the year; but gradual Improvement OF prices seems
likely to be experienced meanwhile from the temporary
depression of yesterday and to-day The present hold
Of stocks for the part willing and able TO hold
them against all the attacks of the bears until the tide OF
speculation floats them to higher level.
The gold market was steady and dull while loans
generally made nat The opening quotation was 1853,
followed by rise of Il and relapse to l45t4, at which
ii remained all the afternoon.
Foreign exchange was inactive and bankers bills at
sixty days quoted at lo9h a u. The or the
advance cotton and the upward tendency Of the
ket at Liverpool, brought BY the City Of Wash
ngon induced importers to defer purchases OF bills
under the impression that the strength OF the cotton
market abroad will stimulate shipments Of the staple
dincrp he ulv of excha
shipments may be stimulated little extent by the
advance in England; but there spectators this
side who will be ndsposed to ship largely long the
prospect favors still higher market Importers are,
proverbiay, always waiting for lower market for ex-
change, however low II may actually be.
American securities reported lower in London
the 17th inst than when the Cuba saiIed-namely
twcntes, "; Erie, 1; Illinois Central, IL.
Petroleum stocks rather dull At the nrst board
Pithoe Creek closed 55c lower than At the time
yesterday, selling at $14 20; Bennehor Run 2Oc
higher selling al SIG So; Ham McCIintock &c., selling
At So co. United States ooc selling at $27 40 Palmer
Petroleum sold al 81 80, New York and Newark Soc,
West Virginia Coal and Oil 1Sc., Buchanan Farm 77c,
Bradley 53c.. Empire City Soc, First National 47c.,
Oceanic 4Sc., Webster 81, Consolidated Gregory Gold
$40 IS, Gunne Gold 81 OF, Isle Royal $l5 New York
Gold 90c., waikiki 81 so.
The Comptroller of the Currency has issued circular
warning the national banks TO keep reserve of legal
tcnder notes, according TO law, which it Is we'll under
stood many Of them have not done. The following
should be protected by lawful money reserve
First-Natonal bank notes in circulation.
S>cond-State bank notes In circulation
TAird-lndvidual and United States deposits.
is explained that the should consist off,
Frs,-Spccie.
Scond-All United States legal tender issues including
the interest bearing legal tender notes
Third-Baances in approved associations, in cities
named Ia section thrtyone due 10 banks not located in
said cics to the extent three nhs OF the required
oil fifteen per cent
York, due TO associations any OF the cities named in
section thirty one to the OF fifty per cent the
required reserve Of twenty 1--WE per cent
FJs-Cearng house certificates under section thirty
one Of the act
Sirfh-Baances due from the Treasurer or any assst
Of the United Statcs payable demand
Is necessary that the authorized to be kept
In national banks should be in banks selected and ap
proved as redeeming agents.
Mr.. George L. Gray, late Chief Engineer OF the New
York Central Railroad, has been appointed Consulting
Engineer OF the Central Pacific Railroad of California
The New York exports exclusive Of specie, for the
week ending December 25 and since the beginning OF
year. compare foliows:--
1885, 1854 1880
For the week. 80 S3,42A,35I SI,sIo, ,7os Sa076o7s
Prev. reported. leS,soo,4se 2i1,oeoals 176ess52i
Since JAM L. $lss sa4, ,soy sai2 o25 sl7s 5s4
The New York imports compare follows
Dry goods. ....... sl,siS,s4s s4ss.7so ss.sospo7
General mdse... 2sio,a34 i,7ae,sso a,l5ssii
Tot. for week. s4,42s,o7s Se,l72l7o ss,4sa5ls
Prev. reported. l77os5,7l2 2ol,al2sSs 205,eleo3i