The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-12-29
FINANCIAL AND COMMERCIAL.


The stock market continues steady but dull although
shade armer than yesterday AT the early OF
the omen BOARD this morning Erie sold 95 New York
Central 90 Hudson River l0sas Michigan southern 7s5s
Cleveland and Pisburg S2s4, Rock Island 1861, North
western 35s. OHIO and Mississippi certificates 2Sss,
Cumberland a. schuylk Coal 1ass At the irst regular
board Erie closed =, higher than at the hslfpast two
session Yesterday, New York Central (which was very
scliveD ~. Hudson River a. Reading u, Cleveland and
Pittsbugg u, Northwestern ~ Fort Wayne ~ Cunber-
isnd % Northwestern preferred u lower, Quick
SILVER steady Mariposa preferred sold al 1915 Govern
ment securities inactive but firm. seven-t thirty
notes oil the second advanced y.
Al the open board at O'Clock New York Central
was hrm at the advance Of the morning and the rest Of
the list steady excepting fractional weakening in one
OF the Western railways At the regular board u
half past Rock Island closed higher than at the
first board Northwestern preferred y, Fort Wayne ~
Ohio and Mississippi certificates x, Quicksilver r. New
York Central = lower, Reading y, Michigan
Southern u, Northwestern ~ Cleveland and Pnsburg
Erie unchanged. Government securities were
stronger Coupon hvc-twenties Of tho old issue sd'
vanced $, tenfor.ies u. Seven thirty notes were
steady
Al the open board half past three the mar
ket was without animation. but nearly steady.
New York Central sold at ss%. There was vague
runor circulated about the latter relative TO future
legislation at Albany favorable TO the interests OF the
by removing the present restrictions on It's rates,
and large purchases made; but these may have
been for the sake Of running the price up on the
ashorts,n which supposed TO aggregate heavy
amount while Is known the quantity held in tho street
Is very small In proportion the capital stock. Erie
vas quiet s5ts, and The clique in this which is re-
ported have originally consisted OF four parties
one Of whom sold nearly a week ago appears 70
idle for the time being. Cleveland and Pittsburg
sold SIX under efforts deprcss II by the party buy
ing Tor rise Reading sold at 1885,, Michigan South
ern ri Rock Island 1885, Northwestern s. preferred
eiK, Fon Wayne 1885,, Cumberland ~ chaylkli Coal
tsss Quicksilver AZ.
Afterwards on the street the market continued duh
but steady Al hafrast i've Cleveland and Pittsburg
vas quoted al So Michigan Southern 7iis d, Eric s5a<
"a, Reading 1865
There very little business doing in the gold room
The opening price 1885,, followed by advance
1855 and u recession of y, at which Il stood from
iii the close
Foreign exchange pariakes Of the general dulness
The hspkcrs eager TO sell the importers 10
Duy current The former are the more indis
posed make concessions In consequence Of the semi
,rnsency the London money market reported by the
last steamer and witch favored tho expectation OF
rse ~ the Bank England OF discount per
cent Bankers bI became 6,mer az tho day advanc ID,
and sterling at sixty days quoted AT l0ai. ",
against 1921 4 In the morning.
The money market sugrlsh, and although
few transactions have taken piuc. to-day al seven the
General Is six per and lenders unable to
place all their funds this figure, the supply being
largely OF the denaud owing To the prevailing
disposition defer operations til after the holidays
Monetary Affairs nj the West. alike with the produce and
merchandise markets. reported quct and exchange
the East still continues ITO premium, selling and
NJ sxisf LIE Soufh
Under these circumstances there nothing To disturb
the money markets. and indications wanting IA
vorabie 10 much further accumulation of funds at tins
The report Of forthcoming Treasury loan which
published yesterday afternoon had, Of course not
tho slightest foundation fact and although hardly
oossary II has been oficisy contradcted to-day. The
assurances which Mr.. Mccuocb gave 10 financial mcn
during his recent vsnamely that he Intended To
do nothing in tho way Of funding foe time come
and probably should not require 20 borrow within the
fiscal year, ending with Juue next-were conclusive. He
WILL IL Is rumored draft bills ~ enabling
him 10 carry into effect, nj some future time
the contained his rcpor Congress-
but there Is u difference between receiving the
necessary authority and carrying the proposed measures
effect The Secretary, while DESTROYS Of adopting
course Ii nj the time anxious in sell defence
10 avoid undue haste OF any calculated produce
the dsui bance Of monetary arsrs knowing thai
contrary would be DISASTROUS TO the government
finances. Since the funding Of nfsy millions Of inert
interest bearing the national bank issues have
placed the withdrawn with active currency and
these issues still being made at the rate
Of about four millions week, and will con.
tinue I'LL nearly seventy millions have
been issued after which another hundred
more millions will probably be authorized by Congress
The Secretary Of the Treasury will dnd difficult TO Iur
any policy Of contraction which viii keep pace with
such imitation this and In view OF the fact, those Who
look forward to contraction and lower prices for many
months will, in all likelihood, be disappointed;
for unless the amount OF currency funded Is tian
equal to the issues there be contraction hut
rather expansion
Petroleum stocks were rather heavy during ths
ing but firm in the afternoon Al the nrst board Bennc
hoG Run closed 35c lower than the same time yester
day selling at $40; Pitholc Creek 81, selling al Sl3 so
United States Csc, selling at $27 IS; Quartz Hill be-.
selling at 81 50; New York Philadelphia and Baltimore
SIC. higher, scing at &c.. Knckerbocker sold o.
I0c West Virginia Coal and OIL 1sc, Bradley 65c, Cen
trail $50 First National acc. Mount Vernon 35c, OIL
Creek 81 7s Smith and Parmlee - 90. Al the We.
cond board Bcnncho Run closed &C. higher than ~ the
arst board selling at $l6 Central ST. selling at S40 PIT
hole Creek was 3sc. lower, selling a. SIS 20; Buchanan
Farm sold 1t nc, Bradley CO.,, Bievoort 50 l0 Fee
Simple 2Ac., First National Sc, Germania 2sc, New
York Philadelphia and Baltimore &C., Rynd Farm 6oc.,
Webster 97c., Quartz Hill 81 IS.
The business ut the Sub Treasury to day fol.
Iowa. FL
Iosai rcceipts
Payments. ......................... SO34M
Balance ~. 573 s73
TUT CustOms oSoV<V
On account OF government loan. ......... 11S2,000
Coin certificates Observation-Disclosures. 72340
The cash balance the hands OF the Assistant Treas
ia Boston al the close Of business December %
was Gil OLE sos 4-an Of q $50 80
pared with the clone Of the previous week.
The Boston imports FOR the week ending December ~
ssi4 40 against $500 600 during the corresponding
wes 1894. Total since January 1, 81, 6i0,2i0 The
es ps including Specie sa7ss <5 agains. $5a2 s3i
Cor tue corresponding week In 1854.
Tn. .oDd,tion of the nneoen hunks Of New Hamph ire