New-York daily tribune., 1866-01-01
SATrRpAY. Dec. 3O--P. NJ

Gold is not strong, and ciCseS al l4l1. Inc eA-
ports to-day were $263O0O.
Government stocks continue in demand at full
prices, and arc the most popular security on the
list with ihvesting parties. The old 5--Os are lcol
In the issue Of lS6i-j, l02. All the 1.5is are
wanted, and there is q good deal of money realized
FROM the sales of railway stocks and being rein
vested in the 7.3O loan. The miscellaneous shares
are strong, and the co1 stocks in renewed demand.
Cumberland sCli at 45, and Schuylhill at l5, seller
10, in quite large amounts. The general share
market was steady at the regular board hut prices
were not sustained upon the street. Rock Island
sas sold as high lC93 in the face Of its decreased
traffic, which continued through the year, which
seaves tho company : OC0,O0J short Of tie traffic
of 1868. Eric sold at 81, and per cent was paid
for stock until Tuesday. Tho market for most
stocks largely oversold, and, but for the fact that
tho roads show a large decrease in traffic, would
vise sharply upon an attempt TO cover the short
contracts. The decrease in traffic which through
1866 promises to be steadily continued upon the
leading speculative roads is the rcck upon which
buyers of stock at present rates will lean their
money in good time. Val Ies must be governed by
ability to earn, not boWow dividends With the C.
turn of peace traffic will Fl j. to the point whcD
dividends are uncertain, and sure not 10 yield IN
come equal to these to be made upon 7.3Cs, or
gold.bcaring Government stocks. At the close the
following quotations made: Ohio Certificates, I
RS! a2s1; Cantor 45s0l6; Cumberland Coal, 4.}
S45; Quicksilver, 4llai5; New-York Central,
DC, a9ei; Erie, 96i a9Cii Hudson River, lO3} eiO9
Reading lO6s 1863; Michigan Southern, 7is G7fa; /
Cleveland and Pittsburgh, Sll0S}; Rock Island, /
ICsa 1881; North Western, 35} Northwest
ern Preferred, 6lsa62; Fort Wayne, 05iaiC6i !
Sehuylkill Coal, lja J!. Later in the day lo3s, cx
dividend, was paid for Fort Wayne, equal to lUCi
Money on call is abundant at 6 per cent TO bro
kers and balances have been left over until Janu-
hry :, at per cent Paper sells more readily, but
high rates ofintercst still prevail.
Exchange is not active; 65days on London are
1os0 0sl for documentary. lOs4 lO9 for CONNER /
cial; lO9i l091 for bankers; DO at short eight.
liO1 ail0l; Paris at 60 days, 5.ls}05l5; do. at
short sight, 5I2s 05.u1; Antwerp, 5.Isi05IGl; !
Swiss, SIG; Hamburg, 36l 03Gl; Amsterdam, 40s a /
Al; Frankfort, 4C;aili Bremen, 7g4a79s; Prus-
alan Thalors, 7li07ls.
The business Of the Sub-Treasury was: Receipts,
All 35I, ,l2l S6-for Customs, $i32,0ON Payments,
&9,3I7, ,s53 SION account Of Loan, $685. Bal
ance, 75,99j,sil o. Coin Certificates, $ill $50.
Freghts arc dull. The engagements TO Liver
pool arc 200 bales Cotton at Cd. a7-lGd and
Der steamer, 400 boxes Bacon at cCs, $500 bushels
Corn at SD, and 100 bales Cotton at sgd.
Attention is called 10 a financial advertisement
Of the State Of Maine in another column.
The sales Of II. D. Clsnin & Co. for 1865 have
been, according to runors among the dry goods
men, So, ,OOO, 900, against $i0O 600 in 1864.
The advance in Fiye-Twenhes at the London
Stock Exchanged is the gratifying as occurred
IN the face of tightening money market and
o consequent depression OF consols. Private ,
letters from London state that an carly rise in
the rate Of discount Of the Bank Of England is con-
sdered highly probable. The views Of Tile EconO-
nist on the subject are as follows:
The return Of the Bank Of England this week was
certainly one " hich compelled them TO augment
their rate Of discounts but upon The whole, we cannot
bat that they did Do In the first place.
fhe return itself far the banking department goes
compares yery badly with that Of lat year. when money
also was at per cent The figures ere:
Public deposits. 27i6i 1l9 GtCsD33G
ra'S sIysaST pDd other bin; Io1f qfa
Liabilities ef banking departntGlg 22O 40 a2 ,4I,7
Reserve in banking departm'nt se.593ggG ssll7q53
A less reserve against larger liability. Secondly
a. myy be laid down a rOugi rule that when fIe bul
hon n the bank is under 2l5 900 COO the foreign ex
changes ought 10 be Wstcied with care and canton
That omount OF some thing Ike IT, experience teaches
fs about the minimum We ought to keep, unless are
90 recon- tTuct our whole currency system. But now
che bullion is little 2ll 0O0OOO while the exchanges
are unfavorsbe. and more than &6OOOOO were taken
Er ON the bank FIR export during the week.
II is true, and this may be reasonably supposed to
have weighed with the directors O the bank, that the
foreign exchanges were rather frmer Tuesday. and
this Improvement maintained Yesterday. 1t II also
true that this time Of the year trade generally rather
ala aud thei efofe the demand u LOubaICst and
st the bank commonly declines.
But on tie other hand. though most trades are in I
their usual the cotton trade is in exceptional
state he instant II teegrsphed 90 Liverpool that
the rate Of discount was not roised by the Bank OF
England on Thursday the cotton market became more
la,e great troGe In the EoItB Of England. SecOnd
this is time Of year al which the banking department
(and under Peels Act ct all events, this IS very ma
teria) is especially pressed upon. Tie the close OF
last
On tho lith of December le6l the reserve Of
the BaDk Of England dwss.......-.....-..99i9 1913 COG
On the 7th Of January. lees, IL t.n1!5j
-
dimnution Of f.....-................4l.476 & .476.Oi3
Although there then 10 unfayOTable foreign eE-
phange. Aud II this amount. aud other sums beside
consequent unfavOra5e exchange. should be taken
evny this seaSop at th, same period tie account Of the
bank will be very different rom that which We should
Uish 10 IL, from what II ought 10 be. Thirdly,
Ale sleer market shows Indications which are Goa.
GJmsd W some VI TIC souDdes cotton Operators that a