The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-01-28
FINANCIAL AND CONNER CiAL.
SATURDAY, Jan. 27--6 r. NJ

The stock market opened with considerable frmness
and activity this morning, and developed an improving
tendency till the close of the day, when Il became
heavy. At the early session OF the open board Ne"
York Central sold at els s2, Erie si7s Reading sss,
Hudson River 1924 Michigan Southern o71s, Cleveland
aud Ptsburg 1914 Rock Island ssai u, Northwestern
20 2s1s preferred 554, Fort Wayne sS1, Schuyikhl
Coal 10 AT the first regular board the market opened
strong but afterwards weakened. New York Central
closed higher than at half past two board yesterday
Erie s. Hudson River Z, Reading e, Michigan Southern
x Cleveland and Pttsbug r. Northwestern 4, preferred
4, Rock Island y, Fort Wayne ", Ohio and Mississippi
certificates u, Cumberland a. Government gold bearing
securities rmer under the English advices report
lug advance in ive-twenties to 60 the 18th inst
Coupon ayetwenties Of the old issue were 4 higher,
second issue 81 the third issue lower Seven
thirty notes OF the second third series advanced a.
Az the one o'clock sessions prices were generally
fraction higher, but Erie sold down to $3.50 Michigan
southern closed at os and Cleveland and Psburg at TO-
At the halt. past two board the market firm the
greater portion Of the list the disposition 10 buy more
than neuralizng the pressure SELL New York Central
closed higher than at the first regular board Michigan
Southern Ia, Cleveland and Ptsburg a. Fort Wayne
r. Quicksilver pa Ohio and Mississippi certificates ~
Erie closed q lower Reading q, Northwestern =, pre-
erred a. Rock Island II. Government securities were
heavy Coupon hve-twenhes Of the old issue declined
"a, a.
past three the market dull Erie declined to s31,
Cleveland and Pi,tspurg 70 Rock Island steady -
sss; Northwestern % 81 preferred S. Fort Wayne 951s
49, Michigan Southern 6SX. Afterwards, on the
street, the volume OF business was very light
aud prices declined, especially for Erie At half
past Eve O'Clock the latter quoted at slh,
New York Central ols<, Reading es3, Michigan
Southern 6sA a, Cleveland and Pittsburg 7sh q,
Northwestern 2sH Il, Rock Island 9s, Fort Wayne SO
-. 49,.
market down by the bears who have large outstanding
interests to cover but its natural tendency is re-
dictionary.
The gold market opened at decline from the closing
price OF last evening" under of the advance in
fve.wcnes in London, but before the close Of business
II recovered from 1905 n to 1894 q. There
was an increased demand from borrowers and loans
made at 132 per cent till Monday IL favor CT
lender The export Of specie aggregated by todays
S34 100, Of which the Hausa took Sal 900
aud the City of New York s2OO,1oO making about
$797 for the week This, considering that exchange
has ruled below the specie shipping poi indicates
certain ds;rust of credits
Foreign exchange was steady. Bankers bills on Eng
land at sixty days quoted 1855 1888, short
sight 1897 110iE, Southern cotton bills 1919 1885,
commercial bills 1913 1851. Bills on Paris were
awnat francs Tx centimes ST. II &c. to the dollar
io gold.
The European news by The Java is accepted as afford
ing evidence of quicter state of monetary affairs in
England than the articles the financial and CONNER
situation there which bavo recently appeared in the
London Times, may have led many to expect If there
had any pressure in the money market and
real apprehensiops of impending panic, fyetwenties
would not have advanced from o. s. at the close OF
business the 18th inst to 68 the 18TH Erie from
Sc u to 81 III Illinois Central from 75,i a76,
exdividend, to H. On the 18th inst, large repay
reported to have been made to the Bank OF
England by the discount houses aud these were likely
continue until the 18th inst. Money very abundant
on the London Stock Exchange and loans made on
government securities at ~ per cent Ii Is not i'm
probable that within week days we shall hear OF
reduction instead Of further advance in the bank rate
of discount predicted by Of the English journal
lists The reasoning Of the London Times upon the
causes affecting the hank rate are obviously un-
sound, so far as this country Is con-
.erued That journal complains that while England
been exporting very largely to the United States the
latter been returning an equivalent In bread
suis and provisions but sends instead twenty
bonds and other securities He must be sorry political
who regards this unfavorable feature for
England. We had always supposed that short crops,
which compelled country import brcadsufis largely
from foreign countries, something akin to national
palamiiy; but the philosophers OF the Thunderer
regret that We have not sent them more. They
ought rather 10 have congratulated the United Kingdom
upon tho fact of its being able to dispense with heavy
importaons of the accessories OF life from America
The mere circumstances Of bonds being exported TO
England largely to balance exchanges shows that Eng
fish profits were invested in them and those bonds
part OF the aggregate wealth Of the English nation
Instead the British exports this country having been
excessive they have been insufficient 10 do much more
than the demand for products and securities
hence the light exports Of specie from this side Of
the Atlantic for the last half year. Had our mporta-
lions ne N heavier exports of bonds and produce
would probably have been larger but should have
been compelled 10 remit more in specie The indebted
ness of importers to Europe, allowing for
goods sent here speculation, is large but
not much above the average The state Of
affairs in England may hasten remtanccs from this
sde and will undoubtedly check the export Of bonds,
and hence we ars likely TO have larger shipments of
specie in the immediate future than have had Of
late but the extent OF the Indebtedness Of this coun
Cry TO Britain has been frequently magnided by
the alarmsts Of the Tim,
Money continues very abundant at per cent with
limited demand. Discount are made freely at per
for irst class paper
Petroleum and mining shares were steady Al The frat
board Pthoc Creek closed 81 10 lower than the
time Yesterday, selling at - 20; Hcydrick Bros sold
al 55c Palmer Petroleum "a o. Ptholc Cor olidntcd
81 Bcnnehoa Run sl7 90 Bliven 50 IS, Bradley 3Jc.
Breyoor ~ IS, First National 3jc. Mouut Vernon Sic,
Manhattan CSC, oil Greek II So, Shade River 81 -,
United Petroleum Farms So United states $40 10 Web
sler SOC. Corydon 81 90 smith and Iarmcc is Couln
7 rian u. aud NJ. Company e.
s Il appears from the statement OF the Atlantic Mutual
lhsurance Company that the total Of marine pre-
miums in 1895 IS 95e i5l which So 76i li5 mad
been marked OF at the commencement of the present
year dividend Of 50 per cent Is declared Six per
interest win be paid The outstanding certificates
aud 50 cent Of the priu a Of the issue Of 1854
rnd siicraho 9Th Of Fclrlarr The q. The
company ara upwards Of ;l2 100000.
"a The miorailons o. dry goods this port during the
week ending January % compare follows 3,h those
OF the previous week.
--JdH Is -. "a" 2,--~