The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-12-16
FINANCIAL AND COMMERCIAL.


SATURDAY, Dec lisp NJ
At the opening OF business In the lower hall OF the
stock Exchange this morning unsettled feeling pre-
vaed owing the decline Of last evening consequent
upon the bear attack and false reports respecting matters
affecting the supply Of money Al the hrst open board
however there was brisk demand for all the leading
railway shsrss and the market became firm at Improving
quotations Erie sold n TIN, Northwestern SO H-do
preferrsi 70 X, Michigan Southern s07s SIX these
being the most active At the nrst regular board the
speculative feeling rather buoyant and prices were
we'll sustained New York Central closed u, lower than
a the same time yesterday, Fro n Reading u, Mch-
gan Central y, Michigan Southern Y, Cleveland and
Pittsburg *. Rock Island y, Northwestern 2k--do.
preferred 2x, Fort Wayne ~ Toledo wabash and
western TX, Cumberland u Western Unioh Telegraph
=. Coupon nvetwenes OF 1862 wero lower
rsn-fortiss were X higher AT tho one o'clock
open beard the market was strong and prices
experienced further improvement New York Gen.
trai sold at III, Erie TAX, Reading no. Michigan
Southern SIX, Cleveland and Piltsburg cox ", Rock
isand 1oih. Northwestern Ssk X, ditto preferred
7oH All, Fort Wayne lolh = *, Cumberland es, West
ssn Union Telegraph ASK Aok. Compound interest
notes were quoted us:Juns, 1854, l16< N; July,
noS a l1o; August, l15,lak; October, lax . y;
Deosmbcr, llck = n; May. 1scs. lllKax August,
sioK X; September. 10 llok October, look no.
During the remainder of the afternoon there was
strong demand for oil the leading railway shares and
ESPECIALLY Northwestern and Erie The former sold up
TO ~ but Afterwards relapsed per cont At half.
past Ave the market closed Arm ct the following quota
tions--New York Central nix ~, Erie 72h 4,
Rsadng 1907 y, Michigan Southern 81 q Z, Glove
land and Pittsburg 81 DIX, Rock Island 1O4x q Y,
Northwestern 53K Y, ditto preferred 7s5s y, Fort
Wayne 1864 1906 Ohio and Mississippi certificates 2sk
u, Quicksilver 45 ASK, Western Union Telegraph
10 q cox.
The money market growing easier the general rate
being slx por cent for call loans although in some in
stances considerable amounts offered AZ Gvs Tho
disbursement Of interest the thirty loan CON-
menced to-day, and tended to increase confidence in the
future abundance Of capital which Is strengthened by
the steady return flow Of currency from the interior At
the ssne time tho recent letter OF the Secretary of the
Treasury to the president of national bank Buffalo,
IN which he expresses desire to specie pay
ments without any large curtailment Of United States
notes, or doing anything to produce financial collapse,
sxerts reassurng Influence, inasmuch as Indicates
modification Of his former views respecting contraction
and gives that he viii id the future with
great caution and attempt no mpracticable thing. II
" very necessary 70 the welfare Of the commercial
and industrial Interests Of tho country, that tho
financial policy Of the government should involve
disturbance OF the currency and that the duties Of the
ESspeCt 70 the cOnvcTson
Of securtes the sale Of gold and other matters liable 70
Affect the money market should be made explicit 50
that the public at large know what 10 expect and
that monetary pcrturbations may be guarded against.
The bank statement for tho week will doubtless DO =
highly favorable one. reectng It must do the drain
Of currency from the interior II Is not unreasonable to
look fur increase in deposits and legal tender notes Of
several millions cacb and decrease Of from two to
three millions In loans owing TO the voluntary limitation
Of business. There Is only light supply Of good
msrcal paper Offering for discount and the best grade is
taken n 7per cont
the gold market Is steady. The opening price Was
iaTh. followed BY advance to l37Athe closing price.
Loans generally mads by paying s per cent for
carrying TIE export OF specie and bullion by this days
aggregated 81, ol7225, OF which the Europe
took s4ts 22 the City Of Paris 1892 0s5 the America
$500 o0Omakisg for the week 81, 34s sd2 The clear
snces al the Cold Exchange Bank yesterday amounted
90 37e, 900 and the balance g. .2o 100
The daily angc Of the market during the week Is thus