The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-02-02
FINANCIAL AND CONNER DIAL.



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\ eM FuDAr Feb l-ep.M
There has been further improv ement in the temper
or the stock market to-day and the OF any
failures tends inspire confidence in the gradual
covery Of prices The underone Of tho speculation fol
rse is, however, weak, owing 20 the heavy losses
which have been sustained by large number Of firms
repusd 70 be strong and therefore, although present
appearances are promising for the bulls would require
but slight sdverse influences to precptate fall below
the lowest point Jet touched considerable
invssnsnt capital b finding its into the for
smplsymsnt on tho Stock Exchange, and this is not
without material eject in assisting the reaction II Is
upon thls capita that the market must depend Ia
great extsnt for NJ rocuperative power for long
time 70 ooms the sHsct OF the losses Of the last
thrss months will b seen in largely dimin.
ishsd traasctisns among many houses in first
class credit fhs hanks st cautious both in grant
sing loans snd certifying check and although money
loaned 10 tho leading dealers in government securities at
per ceut the general rate railway and mscel-
lanssss eollateras ID per cent The supply Of loan
abls fsndS d 10 excess Of the demand and the disus
which stssads1 the last panic gradually giving place
% bsSr sats Of fssling In the discount line there
h moro willingness shown 70 take nrs class commercial
paper, The sass Ger which IL quoted ~ peg
ceuf x es -
the ten O'Clock session Of tho open board the mar
kst WAS dsii bus nrm. Eric sold ~ 50 a1 New York
Central, sst, sx-dvsdsnd or PER cent, making equal
70 loOK, dividend on Northwestern, 35f preferred,
04x. Az tho nrss regular board the volume OF
transactions was limited. owing TO I'd.
tournament 70 enable the members attend the
funeral OF late associate. Erie closed Y higher than
the Same time yesterday Reading NJ Michigan Gen.
trai X, Michigan Southern u. Rock Island l, North
western 1k-preferred ~, Fort Wayne 1x, Ohio and
Mississippi certificates u, Pacific mail A. Atlantic Mail .
Marposa preferred q Western Union Telegraph n New
York Central was e lower exdivdend but IL higher
dividend included Government securities were mac
live and coupon skies Of 1881 declined " fvetwenes
1855 r. Scven-thty of third series advanced
n At tho o'clock open board the market was nrm
Erie sold at sos; New York Central, 9sx Michigan
Southern, TN; Northwestern, 36A-preferred, 64I.
Al the haifpast two regular board there further
Improvement on portion of the list and growing dis
position evinced to buy for rise New York Cen
arai closed lx higher than at the first regular board
Erie y. Beading u, Michigan Southern ~ Cleveland
and P,tssburg 90, Rock Island ~ Northwestern "
preferred u, Fort Wayne u, Chicago and Alton n.
Government securities firm, and coupon avetwen-
tics OF 1855 advanced u, seventhrty notes of the first
series r.
Al the haif-past three open board prices ware
fraction DOVER but the tone OF the market was
steady New York Central sold at 9sx Erie, sex X
Michigan Southern II 71A; Cleveland and Ptsburg,
s2k u; Michigan Southern. Tx Il; Reading, 1857;
Cleveland and Toledo l2o 10. 81; Rock Island, s5ss:
Northwestern, SO = 36k-prefcrred. 64< X; MARI
Soss preferred, 2lX a 2lk. Subsequently the market
became strong and continued up the close Of bust
nes& The following quotations current at half
past nvs:--New York Central 9ok "; Erie, 81 SIX;
Reading, l04 Michigan Southern, TAX T Cleveland
Aad Rttsburg, 83k ~; Northwestern, 367S 81
preferred, 65K q g. Rock Island, % 96H; Fort
wayne. Elk . Y; Cleveland and Toledo, III; Western
Uuion Telegraph, OK. Compound interest notes were
Quoted thus by the dsalcrs:-June 1854, lie 119k;
Juiy. Ai6k "; August, 1l6 u; October 1l5 1lsE;
December. li4 II4k May 1895, llls< III; August,
liok III; September. llo,z v; October, llok y.
1he geld market continues strong, notwithstanding that
ths rates Of foreign exchange below the shipping
poss The disposition - buy in view or probable
tsngssces 10 on the increase and the premium hss
rising tendency. The opening price 1881 followed
. by an Immediate advance TO 1854 and . decline TO
l3k, from which point II reacted 70 1851
~ about two O'Clock. During the rest Of
Ne afternoon IL remained steady this figure, and the
riosag quotation was l35x a. Tho borrnsinG dsa>ssA
asy equal 70 che supply and loans were made with
out interest ard At 2 psr cent for carrying. The
policy Of rho Treasury boarding all the coin Il receives
meets with general favor among the commercial we'll
- che financial community. and Congress should mot
defer the passage Of AnendatoTy prohibiting the
SECRETARY q The Treasury from selling any portion Of his
coin reserve This will put end 10 the public scandals
ssnnsctsl with the secret nile OF god and the srauai
Of coin In the Treasury vaults will do more
ssrsagtAsn ths public credit than anything else tho
rsvsrnmsatcan Il matters mot wha. the immediate
elect orsnA sn ss suggest may b upon the prics
n gsx when 10 clear that the ultimate result will ~
10 csass more speedy approximation Of The
vs,us o. grssnbaciu coin than would BE-
\ ~
par cent 70 morrow the country would Be further
moved from . resumption o, specie payments than IL
declined 10 twenty, and should be nearer 70 II In
tas latter than in the former event. II will be remem
hsred that gold fell to 1885, the Is, Of May last and
yea sold up 70 le5k s 18th Of June, that its uc
tuatioos are no indication Of the state Of the public
credit gold being much . merchandise commodity
~ bras.
Mlning shares generally firm, and Corydon vas
she strongest Of the Colorado stocks selling al $s Al
abe first board Corydon closed &c higher than at the
sams time yesterday. selling at 81 80; Gold Hill Be-.
selling q. q s. Consolidated Gregory Gold 45c selling
n $40 90: Waikiki Lead loo. lower, selling ~ 7sc
a, tbs second board Consolidated Gregory Gold closed
loo lowss than the rs, board, selling al $40 80; Co.
rydoa Was SOC. higher, selling at s.
the foreign exchange market remains dull and rates
are nominal Bankers bills on England al sixty days
we're quoted the close 1857 1854 al three days,
los ioe. Commercial bills lo7 los Francs al siHiy
days. 62s 615; al three days 5.ls 5lak. Balls on
Berlin. ~ 72,l Bremen 7sE 7sk; on Frank
fort, Il aux; on Amsterdam. 4ll< Az; on Ham
burg ~ 3ss. on Antwerp. $50 his,<.
The action the Of the San Mutual Insurance
Company in cAnccng their outstanding profit scrip has
produced great financial circles The losses
or The company last year FAR exceeded the premium in
come A, the close ~ 1898 the corporation had out.
standing 81 oss O5o OF this pront scrip which bore an
interest OF six per annually and had Al average
.r,sx xains Of abnnf per We under