The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-20
FINANCIAL AND COMMERCIAL


THURSDAY, Der 1o-cPM
TIE gold market coatinaes active under speculative
operations mainly for fall. hal begns 10 show great
ssubbernnsss m yielding To-day has been steady
the extreme range having been from 1881 10 1884, with
the closing transactions 1874 There was brisk bor
rowing demand from she .hortsp and loans ~ere made
wlihon interest snd .. = per cen, Ia favor Of
the lender OF tho cola. and at 2 a S per cont
for carving. Too gross ciearlngs amounted 10
s55 $4,000. the gold balances 10 sI,0,osss and
the currency hssnces 10 81 7s7,c5s There was
shirmcnt OF $500 600 in specie by tho steamer New
York, shcn makes tho total export thus FAR the week
from this port ard Boston nearly million and half
and the rmness or the rates 81 foreign exchange
70 the liner that there will he further considerable
shrmeats on commercial account, In addition TO which
ocr,an portion Of the January cisbur emens Or
the Treasury viii have be reunited 10 Europe and
following thereon win DO the rou,i'ancA Of seven
millions 10 Russia By tho government to pay
for Alaska, and another largo to Denmark to
ray for ST. Thomas and Porto Rice The suffice, OF
falsc cab'c quotations for fvetwenty bonds enga
attention OF the board IN the afternoon mud preamble
and resolution offered the subject tho latter
rropos NJ reward o. $500 fsr the detection OF any
parties rlvy 10 the Transmission publication OF SUCH
COMMITTEES was appointed TO confer With the Cable
telegraph Company respecting the sbus- complainsd
OF and 10 otherwise inqu 70 into tho matter
The stock market strong active mil after the
second regular board to-day when reaction took place
snisr Of sales TO realize profits Ia temper
Il however In the language Of tho street. decidedly
bush. FAR at least raiwsy shares are concerned
and thcre subst In support OF this
ing. There growing confidence manifested In raj.
way property In consequence Of the large earnings
Of tho roafs and the system Of economy
which Is being gradually introduced Into their
man nQuf II Ia hat vstth hOun
among the directors Of railways tho latter win poIh
better equipped and productive 10 their stock.
holders than they have been hthcro and reform
order Of the day ~hcrs In needed There Is
good reason. IL - contsnded Why Ere should not be
regular dividend paying stock and the negotiations for
harssoHtxing rs interests with those Of the New York
Central and Penu svivana Central already progress
by which IL believed this resalt win be attained. Tho
railway management OF the country has always bora
excerabiv bad that changes for the better demand
ed by rnbie necessity. and 10 TO be hoped thns tho
promises held out viii bc substantially realized.
Tho SIMPLY Of money the d,sposal Of tho stock Ex-
change Il Increasing and hsrss IN rood credit have no
officially Ia borrowngn ak pr cent on NJ soi.,-
erals. although icsns arc s, m1de AZ seven in m.nv
instances, This rate Is however daily heeop,inr more
exceptional. The hanks ascauatins with moders,.
Freedom the best grade OF their rape- At the
legal rate snd an the stree, Prm' p,ms, pas, AZ las
per cost and the newt bes, At ~ ale Tho dtssurse.
nenis Of the sbTressury In payment or the sem-an
nuai interest on tho June sevcn-hres asd The prnei
pal aad interest Of tho Decsnhsr compound Interest
po's', arc swelling the volume Of n. Eanablo funds
asa there are no indications that tie prspss!ons OF hs
natisaAi banks Tor their January returns viii n Ne
least disturb the msney make At this centre.
AZ the rsnmenc>mest Of business tAe stock market
wss Arm At the closing prices e last sven,v.
early session Of the opsA board Erie sold o. "A aad
Cleveland sid rrsbnr1 advanced to ssI A the 6rss
regular board the market active add buovan EXCEPT
for Cleveland and Toledo sad Pacific Mail The former
dcclaed under the rsps that dividend payable
on she lat Of January will b ihrss and haf per cea
instead 81 four per csst expected and the latter ap-
pssrs 70 10 gradually etntisg IN consequence Of the
vigorous Opposition promised BY the North American
Company Panama New York Central vas
hrssly dealt 10. and Eric advanced 10 tax.
New Ysrk Central closed v higher thaa At the Same
une yesterday hris y, Reading V. MIcsgaa Southern
Y, Cleveland and ri,tssux *, NerL preferred
Y. Milwaukee and s. Panl rrefsrd !, Canton 4.
Cleveland and Toledo was lower. Fsr wayno Y, fa-
ssus Mail az. Western Union Telegraph Y. csvers-
mont seeurties were STRONG. Sizes Of 1851 cossd Y
higher Issue Of 1894 u. Coupon Ave-svent,es or 1889
ssso lswes. Missouri Nxes dse5insa y. the express
shares ~srs dali and y ~ sowss
Attic epen O'Clock the market was astive
but fsoen lower isC ances. On the whole
arm-Eris selling at - and Nortbwestsrn preferred as
s7A Az the second regular board the marsst cosnsed
asi,ve, ard prices without maternal change except
for Pacific MAIL which declined - li7k usdsr large
Resdas ciosrd x lover than 81 the Arss regular
board Rock Island y. Fort wsyss y. Pacific Mail TX,
wssters Ua.os Telegraph y. "ioLisan Southern vas
higher. Cleveland and Pistshurg y. Cleveland ssd
Toledo y. Northwcsscrs preferred Y. Milwaukee and
81 Paul preferred ~ Government SECURITIES were
steady. skies 81 1881 closed u higher Tho express
shares were heavy a . further decline Of TX az.
Al the opea bcarl a. haH-pass three the mar.
kss reacted siighty under sales 70 realize. asd
Erie declined 10 tax and Cleveland and Pipsburs 10
%, the II the hss being about lower Afterwards
the reaction made further progress especially h Erie
Esd the market was very active aae excited Al the
st haf-ps ave the folio. Ing quotations wcs cur
rsst:-Nsw Ysrk c~st-ai. INK NIX; Erie, r3Y .
73H: Rsadlag. osk q eS1; AichIgss Soathsrs, SKA
sax; Cleveland and PittburG, SIX 81; Rock Isasd.
% osk; Fort Wayne. - ook; Nor:h western. sa1
COY; da prsferrsi ok . OK: Pacias Nail. NIX;
Western Usss Telegraph. AK -.
There was . strong and active market for govsrnmest
SECURITIES % The ceuasn u shs Isadiss dea,sra The
investmsnt demand 10 iHsrsasing ow.ng V the Low
prices sew currss and the tendency Of pricss
Il upward. There 70 . diminished bon,~ins
demasd tor Avewentss Of 1891 owing TO ire bears In
then having bought the bonds fer cash 10 make thor
deliveries. bat 10 nearly ali such they
ately sold them 'sksr again st optors cu
Days the borrowing demand wiu ~ likely 70 ncrears
when the options aAsurs and 81 the present price
bends In Londsa and hors nftess DAYS opto,
profit In importing them. A. tho close Of business
the market ~as steady ~ the subjoinsd quo,atsns:
Registered. lssl, lo'k . 1os; csspss, 1881. l12ka
li2x; S2os. registered, 1891, loaK . iOsH: 52os,
seuren. 1854 iosx los,l; do, 1904 1861 iosx;
d. 1885, 1914 1855 do. ises. January and July. los
. 1osH; do, 1897. iosK losk; o4os. registered,
ioo1 . loox: lo-so's coupon. 1904 . loix; jane
Ises losK a lotT; July 1905. 1919 1oss<; Nay
compounds 1895, ii7x NIX; August do, 1le,l
max: september de-. lax . lie; October do, il3ls
ilsA.
The foreign exchange market vas quss and firm, and