The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-27
FINANCIAL AND CONNER GAL.

THURSDAY, Dec 20--6P 81
The tendency or the go's market upward to-day
the extreme range having bssa from 1884 90 1884,, with
the closing transactions prior to the adjournment Of the
board 1884, following which the quotation advanced 10
l4 lS4S Owing 10 tho enormous .'shcrt'' interest
outstanding the borrowing demand for coin very
active and loans made ct l-16 1-Sz s32 SOL Lea
and "a per cent per diem In favor Of the lender
OF the coin. and at 2a6 per cent per an
mum for carrying. rs well ~ fiat" Tho
gross clsarngs amounted 10 SOL 9s3 oou the gold bal
ances to tl,250ol2. aud the currency balances to
Sl.ssds7s. the volume or speculative business was
moderately largo aud the bear interest still preponder
ass largely among the operators in tho ROOM but this
10 OF the elements favorable reaction from the
recent DEPRESSION and the most important Of these IL
the nrmness OF the market for foreign exchange The
disbursement Of more than thirty millions In coin BY
tho Treasury In January has evidently been over
discounted. while thu gloomy financial future
OF tho country has been Lost sight OF by the specua
tors for fall, many Sf whom have been predicting
resumption OF specie payments next year, as II they
really believed such event possible, whereas IL y
manfestIy remote that prudent would like u
namo tho ysar In which is 70 occur Meanwhile the
interests or the people demand stability in tho standard
Of values rather the value Of the currency In ito
relation TO gold, aud hence ell violent speculative auc
tuaiions either upward or downward mischievous5
and oae extreme leads TO anothsr.
There was very moderate demand for money from
the Stock Exchange and loans were made in nearly all
cases ct six per cent the exception being at
Some Of the country banks drawing down their bal.
ancss hero in preparation for thor quarterly returns
well to meet govern drafts upon such OF them
public deposlores hut disturbance whatever
from this is probable. might say possible
In vsw OF the present condition Of monetary affairs at
eaufpa Alarnu nj I'M In uutAt FIRST Inaa
commercial paper is in limited supply and rated At
las per cent the street. and the banks accom-
mocating their customers to . moderate extent at the
legal rate The Indications point to stil cheaper aud
more abundant supply Of loanablo funds after the
opening OF the new year Speculation on tho Stock
Exchange will therefore be encouraged, however
dull and depressed the general business Of the
country may be. To-day the stock market
Was somewhat dull. IS usual this season.
but notwithstanding, securities quietly bought up
in large amounts by strong parties and prices advanced
and active bull speculation Ia generally looked for
ward by the brokers and other professional spocu-
ators. who mako it their business go with the lido
At.he commencement Of business the stock market
was steady at tho closing prices OF Tuesday, Pacific
Mail excepted, which active and weak, the price
declining At the early session OF the open board TO los
under pressure to sell, influenced 10 extent by
onfavorabe constructions placed upon the report OF
tho President OF the company, just published. At
the frs, regular board thoro a moderate
amount of speculative business transacted, but
there special activity in any stock
on the list The tone Of the market firm,
and Pacific Mail recovered the second call TO 1921.
Milwaukee aud St Paul advanced to 40 Eric quiet
at T2 72<. Tie shares OF tho associated express
companies steady, and Wells Fargo advanced
Ia Eric closed Il oser than at the time Tues
day, Reading Il, Michigan Southern u, Cleveland and
Fitsbnrg ~ Cleveland and Toledo u, Northwestern r.
Pacific Mall ~ Erie was x higher, Rock Island Il
Fort Wayne i, Milwaukee and 81 Paul q do. preferred
a, Western Union Telegraph a. Government securities
were dull Coupon avewenties of 1864 closed Il higher
sovcn-thirties H. The state stocks steady and
quiet
AT the open board al O'Clock the market was
Arm but dull Erie sold T2s Northwestern preferred
701, and Pacific Mail Ito i10S. AZ tho second regu.
lar board the market strong and rather active Erie
advanced to 1874 and Pacific Mail was quiet at loois
The express shares steady and duh. Atlantic
Mail sharp decline in which has been yet vanly
predicted by tho bears in Pacific Mail was steady at
1le 1874 Now York Central cloaaa ~ higher th~' -
the nrsk regular board, Ere H. Reading =, Michigan
southern ". Clsvsand and P,isburg -, Rock Island
~, Ncfthwesfsrn preferred 81 Milwaukee and ST. Paul
preferred "a. Western Union Telegraph Y. Milwaukee
and 81. Paul u lower; Pacific Mall 4, Canton r.
Government securities DUH Coupon lvetwentlcs
OF 1862 closed !, lower. Missouri advanced j. and
Tennessee sixos declined H.
At the open board at past three the market con.
timed strong, but quiet. Erie sold al 53ss Hudson
River, 1875; Reading, 9sS; Michigan Southern s5il;
Cleveland and Ptisburs s7a; Rock Island. oas North
western So: do preferred, 10 70ll; Western Union
Telegraph, $751;: Pacific Mail, 10?I 109ys; Canton,
50s< During the Of the afternoon the disposition
to buy general but thsre absence OF speed
latve excitement and the market closed nrm nj the
following quo,ations:--New York Central, 1l7& lis;
Erie 53,s 73it; Reading 96A4 96i. Michigan South
ern, s5N ss5tl; Cleveland aud pttsburg SIX 50;
Rock Island, 90. co.,; Fort wavne. e9s 100;
Northwestern, IS; do. preferred, 7O5S II; Pacific
Mall 1927 1925; Western Union Telegraph, 37T
a7,1; Ohio aud mississippi certificates. 20 cs; Allan.
tic Mail, 1l9.
The Now York Central Railway Company has recently
advanced It's rates OF freight connection with which
Rochester paper says:--
The rates Of freight by Central Railroad to New York
and boen advanced and for the present
a. follows New York FIRST class. e2c do second
clsss 7oc d. third class 5lc.: DO. fourth class, s5c.
do, -four per hb, e2c To'Boston first class. 81 DO,
second class 1Sc do. third class G0c do, Sourth
class. b3c. do, four, per Dbl, VI.
Tho foreign exchange market was very firm, and
prime bankers sterling at sixty days sold at lio.. The
shipment Of slos2,475 in specie and bullion by the
steamer Russia Yesterday and further sum Of nit
lion by the Union for Bremen to-day, in addition
10 previous shipments have left the street bare Of but
lon and the prospect OF considerable expectations Of
coin has tendency to mpar increased nrmnsss TO the
markets for both gold and exchange. especially in visw
OF the scarcity Of cotton and produce bills Bankers
bills London at six,y days were quoted at iloS
1I0x; at three days. Ilo1s lIo.: commercial bills,
l0ax 1897; bills on Paris 81 SIXTY days, 5.isi a
511gl; ct three days. SIX a5.fo. On Bern--Bank-
sn', " a TN commercial, TN 7I5.. On Bremen
Bankers, 1915 a 7oI; commercial, 70 1914 On
Frankfort-Baukers, Hk a 4lss; commercial, II .
AK. On MISUNDERSTANDING, AZ. a4i1s: CONNER.
ciai, ~ a4lt4 On Hsmburs-Bankcrs', 3e4 ao7s;
commercial. 35ys q 3ex. On Antwerp -Banksrs
5.1sk AK; commercial, 6.l6A4 a1l5
Government securities were duh but steady At the