The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-01-25
FINANCIAL AND COMMERCIAL.
WrpSsspAY, Jan. 80 P. N.

The stock market has been few eIish to-day, and the
bears have lost no opportunity Of hammering II 10 'ho
best Of their ability During the morning prices "eie
yielding but in the afternoon they took an upward urn
and closed steady at the improvement AT inc carry
session ef the omen board New York Central sold AT 9l
Michigan Southern 90, Cleveland and Pittsours
so1 7oz., Fort Wayne saas, schuylkil Coal
Is Al the first regular board prices de-
olined Eric closed y lower than at the half
past two board yesterday, Reading " Michigan
Southern ~ Northwestern y, Rock Island !. Atlantic
Mail g. Michigan Central was Il higher, Cleveland and
Pittsburs u, Fort Wayne s. Government securities
we're dull Coupon ivctwenties OF the third issue de-
cined u seyen-thirty notes steady. At the one
block sessions the market was heavy Michigan South
sold at 6s5S aud Cleveland and Pistsburg at 7s
AT the halfpast two board prices shade better
Erie closed x lower than at the first board, Reading ~
Northwestern 1, Rock Island a. New York Central was
- higher, Hudson River a. Fort Wayne r. Cleveland
and Ptsburg was steady. Government securities con-
tinued dull Coupon fve-twentes Of tho old issue do
cined e further under the prevailing expectation that
the next European steamer will bring lower quotations
for our securities abroad Seventhirty notes OF the first
series were q lower.
AT the open board ct baifpas three prices rac
ton higher the New York list but the Western stocks
were fraction lower Fort Wayne excepted, which ad
vanced sS New York Central closed the call at Of "
Erie So Hudson river lO2, Reading asT d. 3D. hich-
gan Southern 0sH, Cleveland and Pittsburg 7s7s, (
Rock Island 9s1s Northwestern 500, preferred 651s,
Fort Wayne 9f1 After boards on the street, the latter
sold at 95 and the market generally closed steady
There was good demand for gold to-day for customs
duties aud export and the tenor Of advces from England
favors continuance of monetary activity there which
will tend to increase shipments OF specie from this side
importers being largely indebted to Europe The
market opened at 1898, and after declining e. advanced
to 1891 but subsequently reapsed and closed at 1897
ak. Loans made al per cent in favor of the
lender the morning but without interest in the after
noon.
Foreign exchange dull but steady at yesterdays
rates. namely 1857 1885, for bankers bills England
ct sixty days
The supply Of money shows dimnution, aud the de-
mand from the Stock Exchange continues light. Call
loans generally made AZ ivo per cent among the
brokers and private bankers although public institutions
demand six per cent but they find IL difficult 70 employ
all their funds at this rate without going largely into the
discount line which they for the most part TO-
First class commercial paper finds ready purchasers
however, at per cent. At the West the money
market is working easier under fuller supply of
rency. On Saturday last ut Chicago exchange on New
York, which had previously sold at discount, closed
firm at par buying, and ITO premium, selling. The
banks continued accommodate their customers at ten
per cent per annum.
Petroleum and mining Stocks rather dull At the
first board Forest County closed 7c, Liberty l0c New
York and Philadelphia 40c New York and Newark 25c
Shade River So Is, Bcnnehof Ran $40 10, Northern
Light - So Oil Creek 81 80, Palmer 81 TO- PitEoe
Creek, s1l 7o United States as, Benton Mining Com
pany 5oc., Gunnel Gold 81 % Smith & Parmelee 81
The action Of the stockholders OF the Columbian Marine
Insurance Company in deciding TO shrink the capital
stock millions will enable the company resume
hueina hufu ntil ,a NJ tta Iaotc uluv
this Is obtained the affairs Of the com.
pan. viii necessarily be at standsll. The
Stockholders it il fair to say, show NO Ill feeling sgsnst
the nanaeeinent aei IL view of the fact that they would
have iccome individually liable for the losses OF tho
pany had business carried on after II was d-.
covered that che latter had lost than twenty i've
per con, Of e capital they have do The
reduction OF tie ca,.al decided upon In Wow Of
many OF tie stuckho!dors being unable heavy
which wcGd b. necessary restore The bust
of o conpany upon liz present basis The oIsl.
nal car.sA Of the company 300 900 in cash. The
following Is The last published statement -nsmel. for
the year ending December 81, 1904
Proun!aas une pired rsks, December 81,
1905. 800. 800 .......'. $tS''A
Premiums received froll that date 20 Decem.
Der ~ fiSUf .-...... ..-., ........... 5f;S.532
Total amour. of presarnis. .. .ss,.,3 ia
Premiums marked or earned d;;rfag tho
year tlcss return pvcmirmsl ana Interest re-
ceiyea ea l.ycs meats. 4sss5
Losses paid during the year. .. s., $50 Sal
Reinsurance, expenses anu govern
lr. - e,seT,es
Excess OF earned premiums over
Add aadivasd balance Of 6cc:m6;t '-"
III, ts6i. ........................ s05
Reser,e f,r estimate claims unadicsied. aud
otter oontin cec.es .............. 6jl :I2
In accordance wi,h Tie rrovislons o. the charter o
the company, Board ~ Directors have resolved 10
apply tue pfontfcf tie yclrss follows
Profit 10 he divided. ................si ii3eN
Cal d,ids nd 10 d. alcra luld.a. cer
tiIcntes Of return GA TrciHium,
earuod durinr the year auc paid
payable on aud after FEB. 10 is65. 76o35I
Dcda dividend alrcady raid to s,os kholder.
he n acSrgod interest tiice OF Government
toA n cash cap Gel. Observation-Disclosures. 1911 4s9
o,io5
Deda'l inieres on Grip ,sac1, payable free OF
gote-um nj .aAl On ADD afer February TO-
1855. aoHr Els per c'yt amount Of such
''......'................. ll,o8l
s5asoa2
OF th rc.dle ihriy per cent viii be paid IL,
ca 20 nc riackh"iiofs, on and aiior Marrb
- 1865 Uiee uiforernmcri i.tNl a. follows
or oh sock, teb yer ocai, nd on stock.
SIX ,ei 10000
- syi5,oi.
ofgo'er,, wcni asg, on aeh ~ lute / isc.
cn The cash capIta, as follow g. on cd ficck
featicen per cent ana on .i lock, unc pes
ccil ina IA tie til'l dividend for tbc year.
pa 20 STOCKHOLDERS, ciiia TO ti4rly one pei
Payable. a ca -. Oh an after B. hlusiy 10 fSM
Grc pi COVE uineat ia,l, 90 makcIs " scouts
note bcg thicr rut q haf per cent on.
smc n. rl srch note. ..................... 81,
Ssst, .0i
Payale IN Grip Gree o. gc-eTnnent taxi on
and after June =, fS'5 tc deiler{ on earned
prem INNS on RISK, terminating without loss
ESTIMATED At o. llS,oooh -veso per cent 80. $500
Untlvid d balance .,o,
- luc company ma ~ thai tne the follow ug rsseis -
Chitca s'atse -NS~ fSs JJ a'i other stocks. 500 100
CasL ~ bank aLd lOsn- 90 aslh iiy nied rtttes
stock ..................... - o.. ,na |