The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-01-12
FINANCIAL AND COMMERCIAL.


subsidized to-day partly owing the influence OF public
opinion upon those concerned In the dacredtable trans
actions already referred There active de-
mand for loans which nadequstely responded to
up TO one o'clock but Afterwards less difculty felt
In obtaining accommodation. and from two three the
market may said to have heen easy per cent
the banks having been generally disposed to extend all
the facilities in their power TO borrowers on the
Stock Exchange Tho wouIdbe panic makers have
been less successful than they anticipated, and
they have acquired a very uneuvahe notoriety,
which will possibly soon lead 70 . publication
Of their Names which we'll known in Wall street. in
connection with their present proceedings The money
they borrowed on Wednesday and Thursday BY paying
per cent In gold and in some cases commission
besides still remains under their control but the greater
part OF It will probably BE- restored to circulation on
Monday. Some Of this money Was engaged without
being taken this interest being paid ON condition Of It's
being used Of the lenders profess have
been Ignorance OF the bear operation they lend
ing themselves TO- Loans were made In some cases ON
certified checks through both banks and private lenders
and all the machnerv OF credit employed 10 shut
legal tender notes ont 0 circulation Tho result II par
italy che returns of the Clearing House this
morning. The Rank Of the State Of New York was
creditor to the extent Of s. Co., the Tenth National
Bank u, ooo the Bank Of the Republic $780, 200,
and the Bank OF Commerce s7oo 0oo-makisg total Of
S. whilo nearly MI the other hanks debtors
One or the dangers attending forced contraction Of
tho currency is In the power which II enables few
INSCRIPTIONS spectators to WELD over the money
market TO the disturbance Of values and monetary
AFFAIRS generally. not only here but all over the coun-
try The depression in trade ia the increase and the
people looking forward to the future with appreheB
sion, all confidence in the present management Of the
Treasury having been lost 1t Is therefore the duty OF
Congress to take into immediate consideration the sub
ject Of the currency aud avert a commercial and
financial crisis by arresting further contraction
OF legal tender notes. except perhaps to very limited
extent compound interest notes they mature say
from ten to twenty millions per II this Is not
done widespread disaster must ensae.
The stock market was unsettled at the opening OF
business and prices in instances lower than
the close last evening" Erie having sold down 10 81
r. At the early session of the public board, however
there was more steadiness and Erie advanced 10
62H q; Northwestern, 40 %-prefcrred, se2S q
So Michigan Southern, 1851 At the regular board
siderable Gmness displayed and prices improved
the CALL while the aggregate or transactions was large
Among the miscellaneous snarcs Pacific Mail strong
and recovered to 1881 Erie closed Ia lower than
the same time yesterday Michigan Southern u, North.
western Ia Cumberland Coal u. Hudson y higher,
Illinois Central *, Cleveland and Ptssburg x, North
western preferred ~ Fort Wayne x, Pacific Mail "a.
Government securities were heavy. Coupon skies Of
1851 showed decline Of Il, fve-twenes OF 1862 u,
issue Of 1865 a. seven-thrty notes or the FIRST and
second series " Missouri SKIES were * lower
AT the one o'clock open board the market strong.
Erie advanced e3. New York Central llo7I North
western, 4lkpreterred cox; Union Navigation, 1854.
and Maryland Coal s3i Al tho hsif.past two board
there further improvement and general restora
ticn Of confidence In higher prices New York Central
h;oha ofratr hoapd Eria
preferred l. Reading " Michigan Southern l. Cleveland
and Pi,tsburs x, Rock Island *. Northwestern -prs
ferrsd X Fort Wayne Y. Ohio and Mississippi csrtn-
Gates Il, Atlantic Mail 2, Quicksilver x, Canton x,
Western uEion Telegraph ". Government securities
sympaihized with the general improvement. Coupon
sires OF 1881 wero q higher. 1ve:wertios Of 1852 x,
ssvsnhiry Of the second series \, third series
T. Tennessee Sizes new, declined H. Al the hafpass
three open board the market continued active and buoy
ant. New York Central sold 81 ll0k; Erie, g. 64n;
Reading 1881; Toledo, Wabash and Western, lSsf ri
Michigan Southern, sok; Cleveland and Plttsburs 81:
Rock Island, lo2z Northwestern ~ 4c}spreferred,
sia q; Fort Wayne 10s; Ohio and Mississippi ccrth-
cates AK %. 81; Maryland Coal az. During the res.
Of the afternoon the market renamed firm, and
hafpsst Ave tho following quotations were currons
New York Central. 1loH X; Erie, el5S n; Reading,
105l y; Michigan Southern s0k . 81; Cleveland
and Pistsburg, 9oZ Of; Rock Island, 102zs 1903;
Northwestern. 4oA 43-preferred, SIX a So; Fort
Wayne, 1924 . los. Compound interest notes were
quoted thus by the dealers June, 1864 1lek Il;
July, ZIG . u; August, 1867 q Y; October, HAY
Y: December. i1sh n; May, 1865, iilk X;
August, 110,s "; September, ITO q; October,
10SkaH
The gold market has developed increasing ftrmness.
Notwithstanding the violent efforts that have been made
to depress e. by those largely Interested tho bear
lo- Col .
cline to1scK. and quick recovery 10 1884 Tie ad-
vance we'll sustained and the latest transactions
were at 1885, i34 The supply Of coin pressing on the
market less IN of the demand than yesterday
and osns made in few instances without interest
bu, generally BIZ paying per cent for carrying The
bulls apparently sought to revenge themselves upon the
for locking up money by making stronger efforts 10
turn the tide against them and thcse not without
oaect.
There was en- advance Of ga u in the foreign ex.
change rates. which attributed 20 Efforts on the part
or some German exchange brokers ''iongn Of gold to
adv ance tbe premium by stnening sterling Of which
thera OF present very light supply, and this last fea
ture is Excitement OF strength upon which drawers
rely The trade demand from importers is incousdera
BILE Bankers bills on England al sixty days quotea
at tie close at l0a loeH at three days. ITO ilos
com nerciai bills, 1857 100; francs at sixty days,
5l.X SIS; AZ three days. Sick SIG; bills on Bcr
liz, 524 72is on Bremen, 7s,s 1o; on Frankfort,
AKA 4ls<; on Amsterdam. Az s4ik; on Hamburg,
3e;x 3sH; on Antwerp. 51sA l6;i.
The mportaiions Of dry goods At this port for the
week ending January 10 compare follows with those
OF the preceding week.:
Jan. g. ,-Jra III
us sssssp," 81 -oo. s4s .a $500 ss4
Manufsctrrcs 81 cotton 4o2 It's $40 400 475sT5
yanu,so 4 s,s sSs , ssass @ asos