The New York herald., 1867-01-15
FINANCIAL AND COMMERCIAL.


SUJ-~~---~-sS-~~~----
s.a. MONDAY, Jan 14-6 NJ
The week opens upon a rather unsettled. although
ths whole steady market for stocks bat very firm
for gold and higher range OF the premium appears in.
evabe from the present aspect OF political affairs well
the natural conditions affecting IT, The impeachment
OF the ffSsldsn, almost amounts q certainty and how
ever calmly the American people may witness his removal
from Office there can bs little doubt that the holders Of
United States bonds abrosd will be sufficiently Influenced
by the event portion Of these fof perempory
sale here The process and consequences Of impeach
ment. as regards the head Of nation unfamiliar
to the world and % unprecedented in this
country that some commotion in the gold
market 70 be expected, and the arrangement this
channel vin bs proportionsd 10 the amount Of Ave-
tventes and other securities returned from Europe for
sale hers Il Is estimated On good authority that four
hundred millions Of national securities held there
besides moro than hundred millions Of other American
securities, and We have always pointed the danger
attending such largo sum OF indebtedness being
held abroad and liable to return any time We had
foretase OF what may come last May and june. when
ABOUT forty millions Of coin shipped because Of the
panic in England But because the President Is to
be mpeached and superseded. it by means follows
that the financial and commercial affairs Of the country
will be disturbed beyond the scope Of the gold
market, and the price OF gold has ceased to
be a fair criterion Of the value Of the
currency. The premium is at present low, owing
to the efforts which have been made by bears
press It, and the outstanding short" interest very
heavy. Gold II win be remembered declined l2S1l In
May 1885, Immediately after the termination OF the war;
and yet n June last sold after declining in the
previous March TO 124z, that s Influenced
more by speculative and extraordinary influences than
the esteem in which the public credit is held. and cir
cams.ancss may occur yet which will temporarily
to rise nearly high 1t has been The market
opened this morning at 134H and after advancing to
134S declined TO l34h. Subsequently it became
strong and the closing price in the 134z with
transactions afterwards the street 1885, There was
brisk borrowing demand, and loans were generally
made without interest.
The market rather active at the early session
OF the open board the largest being Ere
which sold at 653s, the rest of the railway list being
steady at the closing prices Saturday. Among the
miscellaneous shares Mariposa preferred sold at 80
and Union Navigation Company at 10Si4. At the first
regular board the volume Of business was unusually
heavy but the speculative feeling the bull side
somewhat tame. New York Central declined per
cent the CALL which exerted depressing effect upon
the entire list New York Central closed y lower than
at the same time yesterday Reading y, Michigan Gen.
trs H, Michigan Southern H. Cleveland and Plttsburg
a. Rock Island ~ Northwestern =. Fort Wayne y,
certificates Quicksilver 4, Union Navigation Com
pany y. Erie was u higher, Illinois Central u, Canton
u Government securities without much
activity. Coupon hvctwenties Of the issues OF
1882 and 1854 advanced y, and the issue of
1886 y. Seven-thirty notes of each series de-
c,ined ~ At the O'Clock open board the market
about steady. Erie selling at 65, New York Central
1857. and Michigan Southern at 1875. At the halfpast
two regular board the market was a shade drmer a
sl~
closed ,, higher than at the first regular board Reading
~ Michigan Central y. Michigan Southern was X
lower, Cleveland and Pittsburg y, Northwestern y,
Fort Wayne 4, Western Union Telegraph u, Ohio and
Mississippi certificates u. Government securities
du and dve-twentes Of 1886 declined H. At the half
past hres open board there perceptibe change
either prices the temper Of the market New York
Central sold at 1857, Erie, 65k; Hudson, 1875 Read
Ing, 1041. y; Michigan Southern, 79% S0x Cleve-
land and Pittsburg 91 91's; Cleveland and Toledo,
l2o; Rock Island, 1925; Northwestern, 43a-pre
ferred, 80 d. 81 Fort Wayne l02; Mariposa preferred
31x; Western Union Telegraph, ASK. After
.rwards the market was dull but firm in tone
and hopeful feeling prevailed among tho bulls At
hslfpast ave the following quotations current
New York Central, 10Sk 100; Erie, 65k y; Read
ing, 104k . l06; Michigan Southern, 80 a S0H;
Cleveland and Pittsburg, 90 . COX; Rock Island
102 IOak; For Wayne 1o2 . lo2A; Northwestern,
43x X; do. preferred, s1xax Compound interest
notes quoted thus by the dealers June, 1894
1l6k a. X: July, 1le . l1ok; August, ll6K X; Oc-
sober, 1l4K y; December ll3S a y; May, 1885,
11lka X: August 1l0h Y; September, Ito 110k
October 10ox 10ok.
Tho money market throughout easy, notwith.
standing the efforts Of the boars create another spasm
IT, and borrowers good collateras freely sup
piled a per The statement OF the associated
banks for the week ending Saturday s more favor
able than was generally expected, and Its influence
ives reassurng Tho first itsm that arrests A.
asnton n the return Is that Of the specie,
which shows an increase Of 81, l,sls, ,osS and the
second, thas ef the legal tender notes. which
shows decrease Of 7si the inference to BE- de-
ducsd from which that the banks lent legal tenders
gold the drain Of currency southwark being smaller
than gelsrsy .upposed and psu1cent to account for
che changE The los6I show al increase Of 6B3 o2s
aad the circulation OF se2 s2l while the deposits have
only decreased In the trhng Of $ls95a The totals
Of the present and previous statements UNDER:
January6. January IL
Loans $251, S52 400 $25s, ,o35, ,4Ss
Specie. .................. l2,Ie4, l92 M,6l3,4U
Circulation. 81, ,zex,77e s2s25lQ3
Deposits ............. ~, ,o3o,o DOS @yx,0l1,6Oo
Legal tenoers........... oo,Uzo, III o5.2&o,310
Ciearngs. ............. 4S6, ,987 7S7 605, 132, 063
Balances. ............... 19,769,003 26,e01, ,315
, The d!sc2uns Line Jsnaps dull owing to tho depres
son II trade bat rst class commercial paper passes at
TAX per cent The mercantile community
iously awaiting the action Of Congress with regard 70
the currency and the tariff aud the subsistence Of the
present political commotion at Washington. We there
fore renew our call upon Congress to Immediately take
Ahs financial question consideration, for
which cannot be deferred with mpunity, and the policy