The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-01-23
FINANCIAL AND COMMERCIAL.

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MONDAY, Jan. 22-6P N
The stock market opened firm and active this morning
and at the carly Of the open board Erie sold
ST SIX (sales 500 shares New Yerk Central o2'i
Reading I0lk (ss) Michigan Southern u 70a;
isales So0) Cleveland and Pittsbufg s6x &c. Rocl
Island 1927 1929 Northwestern 3lal Fort Wayne 95
Cumberland 49, Schuylkil Coal (s.3) L. At the nrs
regular board prices generally lower but there
an absence Of pressure to SELL Erie which had advances
to SIN at the former board, receded n, closing IL
higher than at the halfpast two board on Satur
day Northwestern was y higher, Cumberland q
Reading closed x lower Michigan Southern *
Cleveland and PIttsburg 1H, Northwestern pre-
ferred ~ Rock Island a. Pacific Nail sold al $50
scrip l6o Government securities dull and steady
excepting coupon nvetwenties of the first ISSUE which
were pressed for sale at a decline of u.
At the O'Clock session the market lacking ia
spirit and quotations underwent further slight
sion Cleveland and Pittsburg sold at 49, with large
transactions and Michigan Southern at s9x, with sales
Of 200 shares There a sale Of Caawissa at 81 and
preferred do. at s3ls There was improvement in
prices at the hall past two board but steady feeling
prevailed Erie closed lower than at the first regular
board, New York Central u Michigan Southern n,
Cleveland and Pittsburg Ia, Northwestern u, Rock
Island Il, Fort Wayne u, Cumberland n, Canton y,
Ohio and Mississippi Certificates u. Atlantic Mail sold
at ll6 ten per cent higher than Saturday after
aoon Government securities inactive but steady.
At the open board at half past three the market
tinned dull and rather dropping. New York Central
closed at e1yS, Hudson River 103. Reading l0l,
Michigan southern e9x, Cleveland and Pittsburg
80, Rock Island 1O1 Northwestern 311 preferred
65l, Fort Wayne 9s7s. Afterwards on the
street. prices lower and at hairpas five O'Clock
Erie quoted at so, New York Central 9l1s A.
Michigan Southern 6sqi 90, Northwestern 3lX X.
preferred 5Gk. Cleveland and Pittsburg was weak ut
500 ash
The speculative feeling has been somewhat tame to-
day and so long as the public mind in doubt to the
future financial policy Of the government there will not
be wanting operators for fall of prices who Will exag
serte the dangers Of the situation and by acting upon
popular fears reap proporoned to their bold
ness. That il is very easy matter to run
stock up was shown by the course of Cleveland and
Ptsburg at the close of last week. and other Clique
movements Of the kind likely disturb the dulness
OF the general market and the equanmiy of the bears
a. frequent intervals while money remains easy aud
the short interest as large as at present And when
the bugbear Of the Finance bill is removed by
Congress modifying it, apprehensions will be likely to
die out and speculation to assume more confident
tone.
The gold market weakened from 1897 z at the
openn ne to 1851 y at the close Of business Loans
were generally made at per cent but in some in.
stances 1872 per day was paid
Tue rates Tor foreign exchange tended in favor OF
SEWERS early in the day but afterwards course Of the
market was reversed and the best bankers sterling AT
sixty days, for which 1884 had been paid declined to
10S4 Some Of the leading drawers no vever continued
to ask 1881 The supply of Southern bankers' bill,
drawn against cotton larger than usual of late and
these were quoted at 1913 a lOs Commercial, bills
were in demand at 1878 1881, with few exceptions
at iosh ~ for strictly prime, which are almost on
par with bankers bills.
The money market continues extremely easy a, Ave
per cent with exceptions at and four FOR call loans
The demand from The Stock Exchange is st light, but
there is moderate pressure for discounts Frat class
commercial paper generally taken per cent
exceptions reported at e,z Good but not very we'll
known names submit to 10 per cent, and inferior
signatures pass at 10 IT, The bank statement for the
week shows increase Of four and hall millions in
ioars but this Is In part accounted for by the addition Of
the Third National Bank to the list without which the
loans would show an Increase Of only Si,i3i513 The
deposits have nomnaly increased than million,
but II we allow for tho bshk referred TO they
have decreased II Ia noticeable however that tho East
River and the Merchants and Manufacturers banks
made no report this week and the statement merely
ves the figures OF their previous TeturnS These mper
usefulness
statement as a whole There is no important decrease
in legal tenders but the effect OF Western drafts Il slight
Iy Indicated the figures The rather large decrease
more than million aud half In the specie line is
mainly attributable 10 Withdrawals for the payment Of
Customs duties The statement Gar II goes not
unfavorable but the drain westward has evidently been
largo enough during the week to tbe effect OF
the receipts OF currency from other quarters while
money remains much drug as t Is at present how
egor. tho bank statement ia Thermometer which IL
but little consulted. A. 1ie West the money
market, although less severely stringent than II
wcek ago Is sim reported close AZ Cincinnati
Faursy there considerable pressure for loans and
while few houses able 10 increase their discount,
nes most Of them forced 10 contract Exchange
New York heavy at the close Of the day al s0
dsccup, buying and par selling There Ia nothing In
this however 10 justify the expectation Of anything
but easy money market at this centre consdca-
bic length Of time 10 como The West is indebted
90 the East and Western balances hcre are
not heavy enough 10 make their Withdrawal mater Of
any moment The balance IN the Sub Treasury this AZ
tcrDoon was SIS. s;G 337 and the banks have more
money than they can legtmstoly use.
Petroleum and mining stocks wers active bat gen
orally shade lower al the rst board than saturday;
bui the second board the market steady Al the
later Bcnnehor Run closed at $40 as Buchanan Farm
Tso Central Cbio) ~ So Empire City Co.,, Northern
Light 80 rs Oceanic toc., Oil Creek 81 75. Palmer
- 90, Pithoe Creek sll o5 Shade River 80 TO- Untcd
States SO %, Webster 81 u.s. Consolidated Gregory
gold sold at SO TO- Griunol gold 81 80 Smith Far.
maee 81 co.
The following table shows the aggregates Of ,he LIS
weekly statements of the New York Associated Banks
compared with the returns Of the preyiow week
. Jan. IA jan %
Loans. s23&s3s,l s2ae, $50 100
Specie. .................. 10 ss2,s6 rs 2s5. ..2
Circulation. ............. IL iB2 o.. 20 AIS -o-