The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-01-05
FINANCIAL AND CONNER clAl,.

Il
FRIDAY, Jan LSr r.
1Asse b growing disposition 70 buy for rse the
stock Exchange, but owing 70 peculiar condition Of
the money market this has checked elnos the year
opened The national banks having make their quar-
terly returns to the Comptroller Of the Currency on
Monday next have been employing means V increase
their reserve OF legal tender notes which, BY impeding
operations have dampened the speculative ardos Of the
street; but the returns In question viii be prepared
tomorrow immediate from this source must snsus
The supply Of loanabe funds ID gradually being in
creased by return dow from the West and the drain
the South about 10 give place opposite
Of currency from that section. The disbursement too. q
dv,dsnds aad interest which became due the 1s In
slant II stn going forward actively, ana but for the
exceptsnal feature referred TO would have already
exsrsd psrcspubls eject the supply OF money. II
ID noticeable that the latter abundant In Boston SIX
cont although about nine millions Of dividends and
interest he'd 70 b Ahburssd q the commencement Of
the rear The general expenditures Of the people dur
ng ths holidays Withdrew In the aggrsgats large
smoant Of money from the banks all over the country,
aad this ID rapidly returning, and cannot b with
out some influence evan q this centre This enux and
inaux ocops annuay Il this seasos and the eject IL
always psrceplibe Another element which should nos
b. overlooked oonbating to the Of the money
market the shrinkags which has taken place in prices
perenatsy smaller amount Of currency being required
for the movement Of any gvsn quantity Of msrchandss
produce securities ADDED 70 these material con-
alterations have the public bssf. thas Consre viii
esslass y 70 take power the currency, gold and
the money market ont sof the hands Of the seOre-
tary Of the Treasury. There should b. nothing
connected with the national finances done secretly,
and II an officer OF the government dispIsss
partially for selling cein and buying and selling
Il nuoi
ness Of Congress to prevent him from doing by ex-
pcK legislation on subject in practice u Is bene-
nng few at the expense Of the many, By causing per-
turbaiions Of the markets Moreover, II uRdermnes
confidence administration Of the finances and the
general stability OF values Congress AZ the same time
should egaie against any further contraction OF Uni
tod States notes. leaving the currency 70 the operation
Of natural laws and devote its particular TO the
reduction axation which 10 at present heavy bur-
den upon individuals and drag upon the wheels oil en-
terprse preudcia to the prosperity Of the country at
large and threatening serious loss OF revenue 70 the
government .es&
Gold remains nrn, the opening and the closing price
having been 1884 The extreme range Of the day was
from 134K to 1881, and the borrowing demand was
active enough advance the rate for loans In some In
stances 1-32 per cent per diem Silver is quoted at
per below gold and Mexican dollars are rated At
1854 n In gold +
At the ten o'clock open board the stock market was
steady. Erie sold at 6yX "; Northwestern, 46h-
preferred, s2x;- Fort Wayne los; Union Naviga-
tl,n 1881 Al the first regular board there was only
moderate business transacted in tho speculative shares
o. which Northwestern preferred the most active
and some disposition shown by the bears to hammer
the market New Central closed q lower than at
the same limo yesterday, Michigan Southern ~ Glove
land and Ptisburg x. Cleveland and Toledo l. North
western preferred y, Fort Wayne u, Pacific Mail H.
Erie was TX higher, Reading n, Illinois Central "a
Northwestern " Toledo. Wabash and Wesicrnk, 0hso
and Mississippi certificates sS, Union Navigation Com
pany " Illinois State skies declined u. Govern
mont securities were firm. Coupon SKIES OF 1881
advauoed u, nvelwonues OF 1se2 x, Issue Of
1854 \; but In the rest Of the list. there was
no change. After the cali the dfdcrencc between
the cash and regular price Of Northwestern preferred
ranged from to per cent In consequence Of the bull
clique stock having called In some Of their loans,
which made 1t scarce for delivery. Al the one O'Clock
open board the market was without animation aud
barely steady, exceps for Mariposa preferred which
advanced to a2< Erie sold at c7z, Michigan Southern
s2k; Cleveland and Pitssburs SsA X Northwestern
4Sx-prefsrred SIX. The earnings Of the latter
road for tho fourth week Of December we're $2oi 023
against STA los for the corresponding week last year,
showing an increasesof $S2 l6S. At the hafpast two
regular board prices showed general, although but
slight Decline owing suddesIy experienced activity
in the money Market which had been previously easy
at ssven Der cent, with exceptions on government
securities q SIX. This was owing to the large de-
mand for money from the bull clique In gold
and to some calling Of loans by the national banks in
order 10 mako their quarterly statements TO Saturday
evening next a favorable possible Tomorrow the
banks win bepn to loan freely their cashiers
checks issued ON Saturday win not be returned :, them
through the clearing house till Monday and consequently
these will have no effect upon their - set down
IN the statcmsnts New York Central closed * lower
than u the nrst regular board; Ers ri do preferred
X; Reading *; Michigan souihcrH, y; Illinois Cen
tssi Il Cleveland Pinsburg, y; Northwestern, ~;
Fort Wayne, y; Mariposa preferred, u; Western Union
Telegraph, " Government securities were stendy.
Coupon sizes Of 1881 advanced "; Missouri Stale Skies
were e higher
A. the open board q. haifpast three the market
hardly steady except Northwestern preferred which
was strong New York Central sold at 1i01< Erie, 61
Hudson 1s1 Is ~; Reading, loa7i Is 81 Toledo, VS.
bash and western AK; Michigan Southern, 81 illinois
Central, 1909; Cleveland and Pitsburg, IS ss1<;
Rockland, 1884 Az Northwestern, AZ 45;--pre-
ferred S2k N; Fort Wayne loA1 * d.; Maripesa
preferred, SIX; Union Navigation Company, 1854
1Oex; western Union Telegraph lsk. Subsequently
there was an improved demand for stocks, or which
Northwestern preferred was the strongest, and At
ha,f.past i've the market closed firm II the
following quotations New York Central Ill nix;
Eric, osX OF; Reading, 1o4< u: Michigan Southern,
s2x q; Cleveland and Pittsburg 80 sOh; North
western, 45K x-preferred, sex a 3d.: Rock
Island, 1904 a ~; Fort Wayne, los io57i Mariposa
| preferred ack u Compound interest notes
quoted as under by the deales:-June 1854, 116 y;
July, 115K 1io; October, 1i4< Y; December 1874
X: May, 1885, INK y; August ilok Vi Sep
TENDER, lilo llok October 1ook AK
The annual election Of tho Cleveland and Ptsburg
Railway Company held yesterday at Cleveland, resulted
In change OF management; the following gentlemen
being among the directors chosen Charles Durant.
John T. Tracy, James H. Banker, Thomas sloconib and
John Steward, Jr, al OF this city.
The Erie Railway Company has declared an annual
dividend or seven per cent upon the preferred stock
payable on the 2lst inst tN
~. so~.,cc nxc,srv~ rrorrat has been raodoratciv