The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-12-26
FINANCIAL AND COMMERCIAL.

FINANCIAL AND CCMMERCiAL
@A" .t~~~~------>~~-------
TUESDAY, Dec. 70, 1869
sAs ssir Christmas Day no business has been trans
aS'ed Wan sres. the Stock Exchange, the gold room,
~ Aks a4d the public ofioes with The exception Of
y c1sn Houss and the Post once which vera open
NJ hort time only, having closed their doors To.
Usuow viii, however, doubssss witness resumption
q chat buoyant activity which marked The course Of the
subway share market yesterday. II very evident
80 that the leading beam were covering their hors'
- saissy bus largely aspossble and that prominent
Ssils were buying for nsa A. the same time orders
bsins nilsd for outside investors who oopsdsr the
isslise stocks cheap 81 the current prcsa The rise a
- Ans time favored BY the returning eass In the
osssy market frOm natural causes and owing the
psrs Of the tricks Of shs bsa and certain bank officers
- oonnived with than, and the discredR rejected
go them thereby the sealed packages Of legal tender
oss hypothscatsd like ordinary oollatsls likely 70
ve up their contents 10 public uses not
osoh with the consent Of the bsars at the instance Of
- banks which have been placed In this Questionable
- usurious position, ownst Ne cupabe conduct Of
sAsr encers who bad private ends serve II the de-
eaogsmsnt Of the stock market was The only
svd resulting from what has bssA thus "oonn.
oeeealay" done there would 10 lses reason
- esmplan Than there ID when consider hat the
y
asaas Affects mercantile anhin and prices all the
ssaty and pssvsnss The sxtsnaon u ths usual dis-
ssansns fseliiss 70 nerchan,s IL Arss class credit 30
so pubic ssuss calls for invssigstioa the part
- Ne Csnprllsr q shs Currency; Tor national banks
- violate hs usuy laws and The principles Of good
Aanking md msydx1tle honor in this nannsr axU mot
sssctabls Trustworthy institutions and prudent
- would desire either 70 dsspost his money In
~ custody Of speculative presidents and cashiers
- The stock OF the establishments they manage.
Wlan small hank Ike tho Third National has credit
1alsncs at the Clearing House Of 900 single
aaV's transactions, something unusual has evidently
1ssa the cause Of It,
ne stock market WAS steady a the close Of business
Sssrday, The demand being especially actvo for Erie
M,shigan Southern and Northwestern preferred, the
'sAert" interest In each Of which 10 Al half
- I've O'Clock the following quotations current:
nsss. % es,s; Reading, lo5x Ak; Michigan Southern
ssk Is; Cleveland and Pit,sbury, SEX o.; Rock
SsaaA. losA . n; Northwestern. AK akj do. pre-,
ssTsd, ssjs AZ; Fort Wayne, 1861 . loo.
n viii DO remembered that the Secretary OF the
tssasuy In hts last report to Congress suggested the
esaion Of foreign stock bearing interest At the rate
q Eve Per cent per annum the 70 b payable in
SnG1aud and at specified places the continent Of
oaFsps In foreign COIN The Secretary doubtless Of
sDnsoa when hs made this proposition that the
saaAes arising fron the payment Of insrss, abroad
ws1iA b SUFFICIENT 70 Induce foreign holders Of ave.
swsatss which boar interest at the Of per CONT
- szshasgs them for the nve per cent bonds issued
aaAss the conditions referred There doubt that
ssSas. holders Of bonds would prefer 10 draw the
asessst IN their country and their coin, and
- have the principal payable In like a nasnri
~ - thsy would thereby the delay ana sxpenss
. sanding their coupons across the Atlantic semi.
nssaiy for collection. But that the lboadholdsvs
O1 consider their gain IN this way sucisns 70
1aaacs the Ices Of per cant per IN interest
- - means csrtain Atisniios 10 being directed 10
s0s project Of this kind Ia Consequence Of than
- hundred millions Of national securities having
Assa sxpostsd and thess liable 70 BE- returned for
i1 - any time TO the serious dssangssns Of the gold
uaskst We had an opportunity Of experiencing, 10
Aoassd extent In May and June last vhsn owing 10 the
Vaas n England Ne shipped about thirsy-sevsn mil
- Il ssn In six weeks. II stands to reason shat "
- DATED States shenh become involved In again,
- get Into political troubs Of any serious kind that
- securities would BE- returned 10 suddenly in
1arge amounts for sale, and hence whenever trouble
0ssatsns We ind that the gold premium advances SO
isag too, have such large amount Of foreign in
Assaedness in s present form resumption OF specie
yaynsnts win be impossible The arguments for and
noaias such . measure. the suggested by the
Secretary, important; but shall postpone their
assussion I'll another occasion.
~ following statsment shows the condition OF the
SAiadsphia banks yesterday compared with shs pre-
vfaua uondav.-