The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-01-29

"A,
7sk, Hudson RIVER loGx, Michigan Central r0on
Michigan Southern e55S, Illinois Central 1862! Ceye
Land aai Pittsbars sou, Rock Island 93A Northw
ID Fort Wayne ea5 Ohio and Mississippi certificates
2I4, Cumberland o. Marrosa liz Afterwards on
ths - roe. tho market was dull but steady
Gold vas active al = excited during the morning, ana
tho demand cash gold was steady but in the after
noon Il abaied ana the market began droop the
qairemerts OF the shorts" Lavin. been to great
exieat satisfied. The quotations wcrs:-
A loi35 A. a...........2a0 900 A. M.......... .2I5%
~ 30 M...,.....2isk $40 T. M.........2ls.
l;so I. M...........2l5S $40 4 M..........ai.ls
The rec nj upward pressure has boon not altogether
tho q reaction from the rapid decline but
ospocustion concerted and otherwise for rise on tbs
part or the leading operators One of tho hitter who
had been ''short up TO Wednesday mornag turned
suddenly tho bull sds, and boush. about three mil
lions 1t selar three days
Tae market then largely over7o'd and as the
s5s, ng gold at command hardly exceeds three millions
thedaica, Of making deliveries has been ry great,
Tho s.sbr,s, ,ov,, lagcly covered however greater
ease is likely be felt next Wees ana this wiz Of
S90rse leave the marxet poporlionaey free from art
fetal ina-cnces Tho closing price day shows do
CHIC OF &c from The highest poiut OF Tic morning.
which ars out toe views wo have Just expressed
TIE market s. nevertheless in a very sensitive COZ .
ton sra i IS in the power os strong cor ,a,,,.
to advance qro.atona fifteen or t@ect" ~ .o.,
Tho prices would have been forced hig, er probably VOC
teray and this morning out Tor The indispo ion or
iAe lead ng operators for y rise TO nm I'M r,,,,
OF ioltiag the shor.s' to default; and so Iorr nc Tho
amount % cash gold IN the market remains az small as
a. p.asoat il WI continue highly susceptible Z, rocala
tive influences
There y some tax o. tho government anticipating the
Pl'"o". = 'do ha''a coupons OF, the ten ttv loon
WITH. sc,,cc,, ca,;s.. amount OF floating gold
Is a,iti a...-,., "-'@~o'e Former experience has
shown tnt Dondholca!s 10 rot f.eo>
49,, a,...an,.t l.. avail themselves OF
$500, n: 49, .n,ercst; tho nu!a reason for
LIN, .onds cannot b sold at the stock board
,,z, - coupon missing, ard are elsewhere din
If s,e al The price The eject Of ante pay
up tho public credit is not bcncnc al as some
wo ID BE- willing mintan for popular faith in it j.
materially strengthened by the certainty attaching to
paynrn. Of the balfyears interest falling due
1t is according to their faith in the continual and
regular payment OF tho interest that investors
val tie securities they hold ard If it understood that
the 80 o1ent mas gold enough at its command 20 an
tic!.te che interest ten forty coupons nest falling
die, it is bout good II the payment Of it was
tciin,cd. The in question will be only four mil
lions, AID preIaymeGt nigh lead to thc INF renee
thai the governm in fear Of the future Of
the god market. AID anxious bcas' Il by increasing
the loaiug 9Gpply How IN II would Affect the latter Is
somewhat uncertain for a larga portion Of II wcud DO
absorbed by the bondholders in which would
remove i. from the market. The passage Of
resolution by tho stock board permitting the
sale a. the board OF government bonds with
Eissing pons, in where the interest he'd been
Anticipate would part OF the objection that hold
have Withdrawing their interest beorc is maturi
ty; bat The Treasury have object in cashiug
undue coupons, beyond the Improvement Of Its own
rct, cannot that much is to be gained By even
tha. for tie ante payment OF interest at the best Of
Questionable advantage TO the government II Is too
suggestive OF make the mos: Of the little at
command, Just soms men WHO carry every dol!
they possess in their pockets anxious
to- and often DO make good i'm
nrcssicn rpon superficial observers with regard
20 their financial they mllonaiTes
The only true way for the government 10 sustain and
improve its credit by Tho adoption OF sound financial
policy, which viii require TO very dlcrcn to THAI 1t
Is now pursuing. The latter il indefinitely pcrsevercd
in only cvsniuate il disaster. but Of this change
yos see but tle hope and the storm VIII probably
b. upon e before tho government awakes a proper
sense o. tho owls which its i-cal n srnanap has
inflicted Tloe OWLS ae as yet far froin fully developed
IN. prrsis,eucC in The old cannot but ripen
them finally into spectacle such has
bcta Witnessed since the nssignas wcre
superseded by sps.ic Ia France Our resources are
,ay greater ,hhn those of the latter coun.
try ere j. y d II the time oftho Rovo elton,
Of n1tion iher is simply maize Of tine
whsgo tie elemeats equal degree sapping
n tie fountain u t,elF siren ID.
The inOney ,aaraet l. easy II per cent for Icons
all aud III ccmmotciai paper passes At II
per cent
Foreign cxehHi 20 inactive aud The supply l. largely
H. Excess IL The deTaand The prospective arrivals and
future sh,m Ms win tend further dcpress
the MARKET ani hcra'.r have strong arg meDt
az inst 4 r.c IN gold, but the fiscal course u tho
So, Exposes Tho hitter to many nrtifcid innu
enc,s tliat natural laws liable be- great extent
oountcraccd and speculation IS qqck TO profit ~
orpor nifty. Bankers sterling at sixty days Is quoted
~ i09,s s, three days 1lo& a. Tie shipment Of
spccie TO-DAY by Ito City Of BALI more was
$40 o0o The subscriptions TO the scvcnthirty loan at
the Fist National Bnk were s27o.95o
III Supreme court tho United States WASHINGTON
Ia dcciar that the liability OF s'ockhoder In he
Kennebcc and Portland Railroad Company, and wo pre-
al compgn e - a contract .itni tnu meaning
OF the constitution o. tho Unitcd States and that III av
passed BY the legislature Of Manc IN 1856, which repeats
that liability, IL VOID
A brl has been introduced In the Assembly ~ ,iais
State repeal s provision Of tho Inv Of February II,
1883 which the Albany aud Vermont Ra ioad
to construct branch IL IS contcndod that the fail
OF tho company g. extend ~ rails the trdgc to
Troy as intended should he done, deprycs Of all
right TO the monopoly which prevents all other
parties from DOING 80.
The gold receipts frpm California 10 this port during
The nonh q January this year far in excess q hc
amount arrived during tho in 1854 .ic fo
lowing nj res VII chow
1867 IsSs
January 5......s24i 72s January 4....s i,lss,s50
J4nuafy 1T........ 8o50o5 January 14..... 3s3,sls
January 25....... s2l oa3 January 27..... 5ll,oss
Total ... $685. 100 Tota, o.3,A7
Increase this year IL 25s
Tho shipments o. gold from sau Franclco last year