The New York herald., 1867-01-16
FINANCIAL AND COMMERCIAL.


TUESDAY, Jan l6-8P n.
Business in Wall street has been dull to-day and the
gold market has attracted attention than Stock
Exchange Tho prospect OF speedy impeachment and
deposition Of the President imparts great frmnss to
the former and is tendency 10 strongly upward This
assisted BY the large outstanding 'sho interest ana
heavy commercial Indebtedness to Europe which is
likely to result in increased shipments or specie
the deposits OF produce and securities being insufficient
to onset the foreign mportaiona The amount OF coin
In the country Lees than ID generally supposed the
fourteen millions nominaly hold by the banks Of this
city being almost entirely represented BY certificates Of
deposit Issued BY the sub-Treasury, OF which there
wsrs outstanding as the end Of Iass month
elAl42 ESQ The threatening aspect Of the impeach-
mont question In Congress has thus far exsred Len
effect upon gold than would have done In the absence
6 tho strong opposition to the rise which comes from
the leading bears and Who striving TO turn the mar
kst In their faver sn further increasing the short
interest The opening price this morning ives lsS,
followed BY N advance to 1854, and subsequent
cline to lSlk; but from this point there was steady
Improvement to ls6x " the closing transactions
the street being at 1851. and this bid for quarter
Of million There was brisk borrowing demand for
coin, and loans generally made without interest,"
the exceptions being at 8per cent for carrying
The stock market opened without spirit Il the early
session Of the open board and New York Central de-
clncd TO 1o7 recovering however the call TO l0e.
Erie was the most largely dealt In and sod at eS e.
Union Navigation Company was nrm At 10Sj<. At the
0rst regular board the speculative feeling tame,
but prices were without material alteration. New York
Central closed Il lower than at the same time ycsier-
day, Michigan Central s, Michigan Southern u, Rock
Island ~ Fort Wayne r. Ohio and Mississippi certin-
Gates u, Pacific Mail u, Western Union Telegraph u.
Reading was q higher, Northwestern y, Cumberland s.
Government securities were dull but steadv. North
Carolina SKIES, now issue, declined T. Tennessee SKIES
ex-ceupon, advanced a. At the o'clock open board
the market rmer and Erie advanced to 65k while
New York Central sold at 1osA. Among tho miscella.
shares Union Navigation Company sold at l0s1
and Maryland Anthracite Coal ats.
At the halfpast two regular board the volume OF bus
ness was light, and New York Central closed higher
than at the rst board Erie ~ Atlantic Mail Il, Western
Union Telegraph y, while Northwestern preferred was
x lower Fort Wayne 1s, Toledo Wabash and Western
y, Quicksilver n, Cumberland Coal l. Government
securities inactive and rather heavy In tome
Seven,hiry notes OF the first and second series de-
clined e. North Carolina SKIES, issue, were u
lower Tennessee skies, oxcoupon, advanced e. At
the halfpas three open board the market rm but
dali. New York Central sold at 1osH; Erie, o5,S;
Reading, 1O4ss; Michigan Southern. SOY; Northwest
ern. 4sss X-preferred. sox X; Fort Wayne
1O2 lO2S; Rock Island, l02H; Marpcsa preferred,
sl%; Union Navigation Company. 1Os 10sI; Western
Union Telegraph, 4oa& Is. 81 During the remainder Of
the afternoon there no marked increase Of
activity, but prices generally improved fraction,
and New York Central advanced to 109,s II is
expected that the interruption OF rac arrangements be-
tween this road and the Hudson River will havo the
effect Of divertng rac largely in favor Of the Ee but
II is not impossible that the differences between the roads
may shortly be amicaby settled. AT half-past Ave the
market closed Arm at the following quotations New
York Central, 1922. y; Erie. eS1s ss Reading lOsH
s; Michigan Southern, soh Il; Northwestern, 49,
aA-preferred. 8oH . 81; Rock Island, 1925 aS;
Fort Wayne, 1o2k y; Cleveland and Pl.tsburg sox
X. Western Union Telegraph. 46,s Al. Compound in
tcrsst notes quoted thus by the dsslers-Iunc,
1864, 11o.S x; July, 110 4: August, li5s ~ Oc-
tober. 1l4h a n; December, 113is 81; May, 1885,
Ill u; August, 1l0H *; September, 1i0a u; Oc-
tober 1o9M Ak
The supply Of money available for use on the Stock
Exchange easy at per cent. ana lenders are be
ginning to cypress confidence in tho fusurc Of
monetary affairs, owing to the bcief tina.
Congress win soon take the currency question
into consideration, and put . stop TO further
contraction It 10 important that thIs should be done
without further delay the suspense with which Con-
sressional action the subject awaited sxers do
spires disrust Of values highly damaging ths inter-
OF the country at large well - to the pablic IN
come Already the revenue receipts show large falling
or and the aggregate for the current nscai ysar will,
judging from present Appearances bc small in compare
with tho returns OF last year. Yet the fundhoders
and those In their interest clamor for contraction and
specie payments regardless OF consequences They wish
enrich themselves by bringing ruin upon the rest OF
tho country and with Mr.. Salmon p. Chase for their
apostle they hope that something viii turn mp
IN thor advantage. But this faction, which
s largely represented by the national banks constitutes
very small minority Of the business community, and II
will be asurcdy defeated as II deserves TO be. One
good effect OF Congress acting Immediately upon this
momentour question Of the currency adversely to con-
traction will be seen in revival OF confidence In tho
stability or values oil classes and resumption of
activity and enterprise ali departments Of trade and
manufactures.
The bill introduced by Mr. 8 J. Randall in the House
of Representatives ana which is before the Com
mttes on Banking and Currency Is In accordance with
the expressed views Of this journal and shoud receive
tho serious attention Of Congress- II provides for the
ssuc OF three hundred millions Of legal tender notes, 10
be issrod only in exchange for an equal amount OF
national bank notice. and ss the latter are long
ago sad nanc nuisance the sooner the substitution
takes place the better.
The foreign exchange market was fraction higher,
and the supply OF bills very limited Bankers bills on
England sixty days quoted ut the close at 100H
ioox; at thrce days, 1lo,k; commercial, losh
icex; francs. at sixty days, 61exa a13'<; at three
DAYS. 6lsk 511L; bills on Berlin, 72,4 a72K; on
Bremen, 7sX 7sK; on Frankfort, AK . az; on
Amsterdam, AK Az; on Hamburg, 3c,s 3sk; on
Antwerp, SICK.
American securities were quoted as undor ia London
IN the dates mentioncd:-- #t
Der To- Jan s. Jan. 10.
E,!.::.''...... Ea,''a STATE. ..so' .:::..: 81 s
Illinois Centrai.......... 70 S1ls SIX
Mining stocks continued active and Gordon remains
the frmest OF tie Colorado gold shareA AZ the first
board Corydou closed 1oc higher than At the same time
yesterday, selling At 50 IS; Consolidated Gregory Gold
vas 81 90 lower seIlIne as sl5 10; Peoples Gold and
Silver 2sc., selling At "a AZ the second board Cory
don closed &C. lower than u the first board selling at