Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1865-01-14
FINANCIAL & COMMERCIAL.
FINANCIAL.
MoRNINa LEADER OTTIOI, !

FRIDAT, Jan. 18Th, 1850.
There Is no better state Of things to report In re
erenoe to this money market, but II possible the
stringency to-day was increased By the unusual
fact that the disbursements Ofmany OF the Banks,
the larger onss particularly, were considerably in
excess Of this reeeiptH course which It requires
No argument to show cannot be followed to any
great extent, especially under present elroum-
stances. The demand ior currency ID strong, and
will Of course grow IS the stringsnoy continues but
the cardisal Law Of seIErrotsotlOn oOmpels the
Banks to Limit their favoTs to the very few, and
with some the oOmpulsion hiss boon 20 great as to
force thsm TO wIIhhold their discount business en-
tirsIy, or themselves become borrowers for their
/ own Necessities. Tomorrow Saturday, I4sh) the
s5o5nd payment Of the one third iEstsIlmtnts on
the 10 4O's viii be made, aud this will carry Into
the Rational Treasury probably ten or twelve mil.
lions, drawing of course to that extent upon the
l public purse Ths last payment will be made one
week from tomorrow, and not until about tho end
/ Of the month will the Government be prepared to
throw ont any Of thii largo amount. It Is not df-
foult therefore, to SEQ that It must he at least
month yet before any "Ist up" can be lookoj for,
and forced sales to realize in the meantime 10
tain localities, arc n5t ct all unlikely. In New York
money is said to TO abundant on call att per 1t,
at which rate th.ro is more offering than stock
houses can uss. Tho iOW Of money ttward ihe city
Is largo and the Banks are stsady insresSing their
movements ard their strength. The larger por-
tion Of tits money is from the aest. ExshsE go
here il very quiet snd close, and rates continue
firm at Il OF bsyisg; selling at psr9% premium
for currency.
The peace IumoTs Of yesterday seen to have lost
their effect very early up5n tee GOli market, and
it has reganed about all It lost under their iuflu-
ense. There are TO symptoms, however, Of any
corsidsrabls advance. 1hs raTs at 10 O'Clock to
day was 22l. Tho closing rate this evening is
stated by cur regular dispatches to bs 2sO7s.
Government Stocks continue strong, th-ugh a
decline of = fraati0n took placo in Fivs-tEentlea
toward tho close yesterday, probably induced by q
pressure on the market by parties desiTous to
realize. There iI a strong Iecul4tiVe feeling In
all bonds however, and large amounts ars held IL
the East by strong hands, for higher figures vhil
q gr5aser easing Of the money martei will almost
surely produce. Dealers here are acting upon thii
feeling, and qusto firm as follows: 5 20s. coupons
100 buying, HOY selling 6'sCf 1881, c0uPo. 5, lll1
. buying and 1ls1S selling,
The 7.s0 Popular Loan continues in active re
quest. Tia Second National Baak received ii
subscriptions today S57,i0
Our regular dispatches this evening repart rail
way shares stronger to-day, hut there was no es
sentisl change in prices. The Cleveland Toled
Roa earned in December S2O3,29l, an incTeas
over the samo month IN 1868. Of s22 9s2 The Roel
r Island Road earned the first week in January $40,
a GA, an inCrease oFer the same month in 1858 G
1895. The net proceeds Of the Reading Railros
for tho year 1864 we're 81 3Os 30. The funded deb
has been reduced to s6675 800. of which s624. SO
= remains convertible into Stock. Tho scrip diyi
dsnd on this yaar's business was Is per cent on
Capital Of SIT IA ocO being only about throe-fIth
Of the apparent net earning OF the year as STATE