The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-01-18
FINANCIAL AND COMMERCIAL.

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THURSDAY, Jan 17-SP. n
The gold market continues the centre OF attraction In
Wall street, and the transactions today have been very
heavy and attended with great excitsmsat Tho opening
price vas ls5K followed BY advance 70 ls7 ard
relapse 70 1S0k. From this point thsre was steady
nprsvsasat to 1884, the closing quotation In hs room
but Afterwards On shs strsss IsT was bid Loans were
made without interest and At PER osat for carrying
Tho Impeachment Of the President being considered In
evitabie, there strong dupossou shown by large
section Of the business commansy 10 guard against
threatened contingencies ~ buying god and the do
mand from the country = larger thaa II has bsen fcs
many mcuths pask AZ the same uns spscuIave Causes
assisting the upward aovsment Of the premium and
me aahors" snssrsss oasssaadns h vsry nRa
Ths stock marhsa auli and heavy curing the morn
Ing, but In the afsarnoou 0eAme uvm unaer an I'm
proved demand sos the iaadng speculative securities
Northwestern road stimuaesd By the ofc,a return se
s earnings sofths second wesk In January which were
Ssl aA in excess Of those for the corresponding week
ias year, namely, sra ~ against ~l22l Tho df.
fsreucss between the New York Central and the Hud
son River roads assuming aspect and thsre
u now isn prospect or their speedy adjustment than
there q the outset the contest extending west
ward beyond the limits Of the Central line and smbrao
ing she Cleveland and Toledo Tho Interference Of the
LeGatures Of this State and Ohio therefore suggested
- the best means Of bringing the managers OF the
respective companies 70 . sense Of their oblpa-
lions 70 the public. Tho quarrel. appears, was
begun BY the now directors Of Central who annalsd
the contract made in the latter part Of last year with the
Hudson and Harlem roads for through passenger and
freight rates. and this has provoked retaliation tho part
Of Mr. Vanderbilt with view to cosrcing the Central
Company into making terms with him. The Central Com
pany, II stated preparing 10 their freight and
portion Of their passenger trains 10 Athens BY tho road
from Schenectady and there transfer both freight and
passengers to steamers navigation opens but
meanwhile, unless the difficulty Is settled the inconve-
nicnce to the public will DO very great 4,.
At the open board ct ton o'clock Erie sold at
eSx Michigan Southern 7ox; Northwestern. a.
do preferred, 79I. At the nrst regular board
the market was heavy at tho closing prices Of
lest evening. the chief activity being confined
TO Erie. New York Central and Rock Island
New York Central closed lower than at the tme
yesterday Eric az Reading TX, Michigan Southern TX,
Illinois Central ~ Cleveland and Pittsburg TX, Rock
Island tx, Northwestern q do preferred l. Fort Wayne
2, Ohio and Mississippi certificates ", Pacific Mail az,
Canton M Western Union Telegraph Y. Union Navlga-
tion higher Governments securities were dull,
and coupon 6vetwcnties Of 1855. ssae declined X,
white coupon skies Of 1881 advanced 4. Tennessee
SKIES Y Iower At the one O'Clock open board the
market was hardly steady Erie sold e3; New York
Central lO7sl; Northwestern, a. Al tho hafpast two
regular board the market nrmer. and New York
Central closed higher than at the rst regular board
Erie l. Reading " Michigan Central Y. Rock Island u,
Northwestern x. do. preferred 4. Michigan Southern
was u lower, Illinois Central r. Pacific Mail l. Mari
posa preferred 4 Government securities inactive
and coupon 1ivc.twcnties Of 1854 declined 4.
At the halfpast three board the Improvement was
tanned. New York Central sold at 1osX 1922 Erie "a
a GAY; Hudson, 1877 l2-1; Michigan Southern TsK
X; Cleveland aud Pittsburs, box; Cleveland and To
iedc. 1926; Rock Island, ioos; Northwestern, 42,s NJ
DO. preferred, sos t. 81; Fort Wayne, essi 81 Ohio
and Mississippi certificates 2eH; Western Union Tele
graph. AK y; Union Navigation 10TH. subse-
Quenty the market remained steady, but dull. except
FOR Northwes,ern, which advanced X! and u hapay.
Ave the following quotations were curent:--,
New York Central, 1857 alos Erie. 64x AK Michigan
Southern, 7oK = n; Reading 1ol 1oAK; Cleveland
and Pissburg, soA Norhwesteru 49ss q X; do. pre-
Serred, e0k; Rock Island, 10Osl lo1 Fort Wayne,
sok Y. Compound interest notes quoted thus
BY the dealers June, 1884. ll6x ri August lls1s
"; October. 1lAK . q; December, l14x AZ; May,
lsos, lilK n; August 1lok ~; September. Ito
liok; October loek y. s&
The money market was easy q seven per cent, with
exceptions 1t sIx % government securities. and the
supply Of capital larger 10 proportion 10 the demand
70 some excns due to the disbursements OF interest
tho third series Of the ssvsn-thirty loan, which
menced on the 18th Instant The discount limo romans
dull sad 1yst class commercial paper g taken q A
per cent The prospect Of Mr. RandsiFs 6il
providing FOR tho substitution OF legal tenders for
national bank notes becoming Law irnparts hopeful
feeling In commercial CIRCLES Is believed that the
effect wond BE- highly favorable 10 the Of tho money
markets throughout the country. In the event OF tho
measure passing great must b observed In the
management Of the details and the loyal tender
must be issued inst the national bank notes
withdrawn from circulation and simultaneously hore-
WITH which be done BY delivering the legal tender
notes to each Of the banks BY ssalmcnss upon their
giving bonds for the return Of equivalent amount Of
their own notes for cancellation This win effect
saving IN interest on the bonds Deposited with the
Treasury N basis OF circulation or nearly twenty mil
lions In gold per annum- But the most important ques
on with which Congress has 70 deal tho currency the
further contraction Of which should b stopped view OF
the depression in trado and manufactures already
sulting from L. The currency should DO lef 10 regulate
ITSELF and all attempts 20 reduce 10 volume BIZ legislative
interorcnce only DO product.c Of hsr. Tho argu
OF the radical conlracticniss delnsor and
snare and Congrcss should deaf car 10 them,
they woad II carried into practice ensah tho country
In ruin. - ta8N 81.
Yhe foreign exchange market continues very arm,
and some Of the leading drawers ask loo Tor sterling
At sixty daya The supply Of oil descriptions Is light
Eankers bills England at sixty days were quoted at
the close Al 1924; at three days. 11o,G liok COM
msrcial bls 1os< 100; francs ct sixty days SICK
slS,<; Al three days. s.sssi 5liX bills On Berlin,
72k TAX; on Bremen 7s,s . 7sk; on Frankfort,
xfx an: cd Amsterdam, 4l,S AN; on Hamburg
sex s6yS; on Antwerp 9. 1e,<.
Mining stocks were weak. with the exception Of Con-
soldased Gregory. Al tho first board Ccrydon closed
loc lower than at the time yesterday selling At
Ss o.; Consolidated Gregory Gold was GOO higher.