The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-12-20
FINANCE AND COMMEROE.
OFFICE OF THE EVENING TELrsRAPH,l
Erldau Dc IgaL


The Stock Market opened very dull this morn
inc, and prices we're weak and unsettled. Gov
eminent loans were 6rmiy held. '67 5-20s sold
at 1854, no chabge; 10I4 was bid for lO-40s; Il2s
tor 6s Of 1881; lt4{ for June aud July 1905; 1851
for 62 520s; 1861 for "a 6-20s; 1864 for 65 62Os
and lOSt for July, '65, 6-20s. City loans we're
unchanged; the new issue sold at 80; and old
Railroad shares we're inactive, Pennsylvania
Railroad sold at 80, no change; and Reading
at 47}, decline of 1. 1861 was bid for Csmden
and Amboy; 264 for Little Schuylkill; CT Tor
NOrristown; 33 for North Pennsvlvauia; SIT for
Lehieh Valley; 23t for Catawissa Dreferred; 27y
for Philadelphia and Erie; aud 42a for Northern
Central
In City Passenger Railroad shares there was
nothing DONG. "a was bid for Second and
Third; 654 for Tenth and Eleventh; 1S2 tor
Thlteenth and t1tteeRth: ~ Tor Cnesnut aud
Walnut; 64 for West Philadelphia; IL for Hes.
tonville; and 263 for Girard College.
ban k shares were firmly held at full prices,
b1t we hear of no sales.
In Canal shares there was very little move
ment. Delaware Division sold at So, an advance
of 81. 13 was bid for SchuylKill Navigation
common; % for preferred do; 30{ for Lehigh
Navieation and IL for Susquehanna Canal.
Quotations of Gold-10A A. NJ, 1874; IL A. NJ,
l33}; IL NJ, 134i: p. NJ, 134t, an advance of |
on the closing price last evening.
The N. Y. Tribune this morning says:-
Government stocks we're firm. The 5-20s Of
1862 sold at 1881 regular, and at 1914 seller 80
Coupons Of 1881 rose |, with high rates for tue
loan OF 1864 and 1866. State stocks were steady.
Rock Island and Pacific Is sold at 95. Bank
shares steady. The stock market con-
tinues firm, with an increasing disDositOn
to operate for an advance. At every rise
there is a scramble to sell to realize profits
by weak spectators, who, after realizing,
are ready to pick up their stocks again,
with little regard to prices for another short
turn. Pacific Mail opened at 1909, and sold
during the day at liza, closing at 1l75. The
opposition line appears determined TO take
business at rates which leave no profits any
election Monday showed that
the opposition" directors were admitted to the
board through the fears OF the party IN power
Had their courage, equalIed their strength as
owners they would have been spared the NOR
tihcaton of throwing overheard the oldest aud
most able directors. to make place for members
whose chief strength was in the audacity with
railway share market at the regular board was
active at the full quotations.
OF last night, with large sales. Cleveland and
Pittsburg was in demand at higher rates. by
parties connected with the management. The
Company for the fiscal year show net earnings
OF l3 per cent, and is claimed by Its friends to
be in condition TO pay quarterly dividends of
| 70 per cent. Nearly three millions OF earnings
| have been used in constructing and acquiring
| facilities by which business can be done econom-
lcally. Michigan Southern was strong, and
| taken by good buyers. Contrary to the popu-
| lar theory, this road is not included in the
| Vanderbilt scheme, and has got to be bought
| before the great East and West consolidation
can be made"
The New York Herald this morning says
"The supply OF money at the disposal OF the
Stock Exchange is increasing, and houses in
good credit have no difficulty in borro wing at
six per cent. on mixed collaterals, although
loans are still made at seven in many instances.
| This rate is, however, daily becoming more ex-
| ceptiOnal. The banks are discounting with
moderate freedom the best grade of their cu,-
toner's paper at the legal rate and on the street
| prime names pass at 1908 per cent. and the next
best at 8s0l0. The disbursements OF the Sub
| Treasury in payment OF the semi-annual interest
on the June seven-thirtles, and the principal
and interest of the December compound interest
notes, are swelling the volume OF the loanable
| funds, and there are no indications that the
| preparations Of the national banks for their
| January returns will in the least disturb the
| money market at this centre"
The New York Times this morning says:-
ION the Stock Exchange there is spirited
market for tho Railway and miscellaneous
stocks, and with sufficient fluctuations day to
| day aud from hour to hour, to make the various
movements not only interesting but exciting.
The Bears in Pacific Mail and in the Adams EX-
press shares had their way to-day. Pacldc
| opened at 126 and ran down to ll7A per cent,
and Adams sold down 10 "a per cent Wells
| Fargo fell to so per cent, Merchants Union to
$685. and United States Express TO III per cent.
Canton Land Company, on the other hand, was
run up TO 49a returning TO 493 per cent. Tue
Bulls IN the Rail were again in the ascen-
! dant. partial impression was made aga inst
Erie, Rock Island, Toledo, and New YORK
! Central in the afternoon, but Pttsburg, the
Northwest and st. Paul stocks were buoyant at
The Cincinnati Gazette, December Is. says:-
money is stiilin active demand, and although
! the receipts of currency from the country are
! increasing, there is no accumulation of balances
! beyond fair working margin. Rates of inte-
rest are firm ut 9Ol2 per cent. between bankers
aud depositors for first class paper, while In the
| open market l5@ls per cent. is obtained With
! out difficulty. The demand for short loans or
! money on call, for temporary use, is unusually
! large at IL per cent, but there is not much
! capital available for this purpose. Exchange
| is more active, the demand being uni ioruily re
ported large to-day, but the supply IS al so heavy
! and the market is barely steady at 10 discount
buying and par selling, dealers being indifferent
purchasers at the inside rate, and some lots were
! obtained"
The Chicago Tribune, December IT, says:-
| Notwithstanding that the general business of
| the city was quite dull to-day, there was an
active demand for money at all the discount
| houses. The packers we're checking freely, and
the applications from grain operators were quite
numerous In addition to the large amount OF
! fresh mercantile paper Offering, there Is large
! demand for renewals. The market Is stringent,
decidedly more so than at any time within the
| past year. Nothing but the very best paoer oh
tains recognition, and that only when the appli-
/ cants account is such as to forbid refusal. In
the open market there IL a large amount of
paper Offering and discounts are made at l100l4
per cent. per month. Exchange was weak aud
| easier. Round lots sold between banks at par0D
| Csc. premium. There is no surplus The counter
rates are unchanged"
PHILADELPHIA STOCK EXCHANGE SALES TO-DAY
Reported by Dehaven Bro, No. 40 s. Third street
| BEFORE BOARDS
200 sh Phil d bSO- 28
! FIRST BOARD.
$4,000 62s '67cp..--ls-l0sA 81 sh Penna R,....- so
ssoSS susq Bds-.... Ss 40 ~ So'' So,''''' so 50
2sh z a Am. Ap1.;:lH .sSwn-lH 20 do..D.s5wn- 50