New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-01-10
OPEN BOARD OF BROKERS
WEDNESDAY, Jan. Or. "


Gold is unsettled and closes at 1884, after selling at
| 1915. The market is weak.
| Government stocks are unsettled. with decline OF
sdg per cent in 1O-iOs and 1905 The per cents are
| finn with a good investment demand. Tennessee 6s
are per cent off, and have been damaged in public
estimation by the recent failure Of the fiscal agents
Of the State TO use its money promptly IN meeting
| the January coupons. In railway mortgages lttle
done. Bank shares are steady The general spccula-
tive share list is duh The railway shares show an
improvement on the low prices of yester-
day morning. but there is no strong
buying for an advance, and the efforts
of the bulls appear to be confined to making q mar
ket upon which they can unload with reasonable
losses Money is reported easier among stock houses
but this is not offset to the poverty in the treasu
res of railways and the certainty that their traffic
for some months is to he upon very moderate scale.
After the call the market was sluggish, and at the
Second Board lower rates were freely accepted Erie
led the decline and touched Gjs The market closed
unsettled, with no disposition to buy except to cover
short contracts. The last prices were: NeW-fork
Central. llOsa1lOi; Erie s.! GG5.; Reading 1910
1915; Michigan Southern, s0!0@.; Northwestern.
4S, aiE North-Westem Preferred. 81 GSi,; Rock
Island, lO2BdlC23; Fort Wayne, lO2lalO2l.
There was good supply of money to-day at per
cent on call. Commercial paper remains steady at
idS per cent Bills nc 60 days on London are quoted
at l0Si 100 for commercial; 1O9.GlO9s for bankers
do at short sight, llOa llOl; Paris at % days 5lsl
a51j; do, at Short sight, 515G513B Antwerp
BIS. a5l6.; Swiss, hlS1GjlG!; Hamburg. S6.GS6.i
Amsterdam HlaHl; Frankfort, 4lGHs; Bremen.
7slG7G Prussian thalers, 72672}.
In freights, the engagements to Liverpool are 'O
bates Cotton at ,05-6d.; 300 ties. Becfat - Cd and
200 tuns Oil Cake at los. Swedish brig was char
tered with 2OO0 bbls Petroleum, TO direct port Oh
the continent at IS. 81.
The business of the Sub-rroasury was: Receipts
$3.Oll ,2l3 43-for Customs, $SSf0o0; Payments
$3C3GtS9 % Balance SlOl,592,S3i 6l-Gold Notes,
$4nOOO.
The proposition to recall the power to issue circua-
ton bv the National Banks is disturbing, and WITH
some reason. banks Of circulation" The right OF
Congress 10 amend the law is undoubtcd, ana ham
rs il might be TO the banks TO lose the bonus Oh
$4,000 600 in gold upon bonds pledged for circulation
the change would give satisfaction to taxpayers
and the public which everywhere recognizes inc
superiority of leeal-tendelS over National Bank
notes Az . step toward specie payments
nothing is more necessary than to reduce the
present circulating currency to one homogeneous
mass, and so avoid the trouble which VIII 10
created by running the banks for legal-tender'
upon their circulation, as "greenbacks gro"
scarce. The currency can be reduced To u unltor'
value by n simple process, by assuming the rederp
ton of all National Banks by the Governments !"
Washington or New-York and buying of the DanA'
the bonds now used as the basis of circulation pay
ing them the difference between the amount OF cc"
lation issued and the average market price IN Nc"
York, during 1867, of the stocks so pledged 10y .n'
process the banks would then only be obhgeu =.
keep tho % per cent required upon nv me-,
deposits, and taxpayers would see slSOou"
in gold saved per annum. Assuming t'1
redemption of these notes by the Treasury wOu'a
make them nearly as good as legal-tender, ana inc
prices would not produce any protracted initiation %
process as many argue. The banks would get "O'N