New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-01-07
OPEN BOARD OF BRoKERs-1 p. NJ
- <,.At ~U.h o. 4. :,
SATURDAY, Jan. 5--P. N.
SALES AT TnE STOCK EXCHANGE.

SATURDAY, Jan. 6-P. N.
Gold is fner closing at 1Sis bid, after selling at
1894 and 1916. The shipments OF specie to-day were
suS5l1, and for the week sSl75l2. Buyers have paid
1-lGth for carrying gold to-day but good deal has
been carried fiat
Government stocks are strong with moderate sales.
The new issue of 5-2Os is firm at l03i. State bonds
are firm and Missouri Is salabe at %. In Railway
mortgages moderate business at fun rates. Tho
miscellaneous list is steady. Marposa common stock
was 1871 bid and S2s for the Preferred. Pacific Mail
fell per cent The Railway share market was gem
eray higher with moderate busin ess. After the
call and in the afternoon prices not sustained
under tho pressure for money, which was sharp.
At the close prices as follows Cumberland, OH
094 New-York Central, 111IQ112; Erie 6si361s;
Hudson 13O613S; Reading R5a "a 1861; Michigan Cen
trail lOsa1Osf; Michigan Southern S2tGS2s; Chicago
and Pittsburgh, s9s09O Northwestern, l45sS46;
North Western Preferred, s2!0s9t Rock Island ioa
a1Oi9; Fort Wayne 1O. 91C5; Cleveland and Toledo.
125Ial28
The demand for money was active again to-day,
and borrowers ready TO pay q per cent " and com
! mission for accommodation. The struggle OF banks
to get themselves into line upon their reserves
before swearing to their statements on Monday
should admonish parties whose business hangs upon
the favor of banks in any large proportion. These
institutions have reached point where contraction
is inevitable. To strengthen themselves tney VIII 10
obliged TO put such pressure upon their dealers aswin
sensby contract the balances of credits and OF prices
of commodities If such q scramble for legal tenders
is shown upon reduction of &c. 100000 in plain legal
tenders, and $i0O00000 in compounds, since October
r. 1896, what may be expected when the compounds
pass into funded debts, they surely must, at on
prior TO maturity and the legatenders reduced
few millions moref Congressional action thus far in
dicates determination not to increase the legal
tender circulation or to expand the bank currency
and to continue in force the present law Withdrawing
four millions Of legal-tenders per month. This sum
is not SO large the interests of the solvent part OF
the community would see Cancelled but it is rapid
enough TO bring to grief debtors who have been
tempted into extensive contracts upon the idea that
legul-tenders would be permanent. IL not q grow
ing item in the debt statement. Commercial paper
is quoted at 7Gs per cent, and not much doing.
The debt statement for January LIST shows more pro-
gress in funding the 1905 ind greater reduction in
Compound notes than has been anticipated. OF tho
7SOs no less than s2SC,l $50 have passed into long
funded debt and $24s6S00 of compound notes. Of
plain legal-tenders s4,94,OO7 have been retired.
leaving the amount outstanding ,s2. Tho
steady decrease in legal tenders is the most sasae
tory feature in the report and should not be forgot
ten by parties trading on borrowed money, ana
obliged to pay fixed debts from sales of commodities
constantly falling in price The figures of the state
mi foil