The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-12-24
FINANCE AND COMMERCE..
OFFICE OF THE EVENING TELpeRAPH,l
TueHdaY. Dec. "a 1857.

tuesday, Dec "a. 1857. J
The Stoc sMarket was inactive this morning,
but prices were rather 6rmer. Government
loans continue in talr demand. l0-40s sold at
10l3@l0ll, a slight advance. 104j was bid for
June and July 7'SOs; 1928 for 6s Of 1881; 1OSt
for 62 5-20s; 1861 for 64 520s; 1854 for '65 52Os
and lUS for July '66 20s. City loans were un-
changed; the new issue sold at 80 and old do. at
95, interest off.
Railroad shares, as we have noticed for some
time past, were the most active on the list.
Camden and Amboy sold at 1874, an ad-
vance, of /; Pennsylvania Railroad at 500,
slight advance; Reading at 48R04s4, a sliy6t
advance; Philadelphia and Erie at 284, de-
cline of /; 81 was bid for Minehill; 93 for North
Pennsylvania; 40 tor ElmiIa preferred; 234 for
Catawissa preferred, and 422 for Northern Cen
tral.
In City Passenger Railroad shares there was
nothing doing. 444 was bid for Chestnut and
Walnut; GA for West Philadelphia; and 1Oa for
Balk shares were firmly held at full prices.
| Farmers and Mechanics sold at 1919, no change,
and Commercial at "a, no change. l4S was bid
for Philadelphia; 20 for City; and 62 for Com
monwealth.
In Canal shares there was more doing. Le-
high Navigation sold at 29f0l30, closing at the
former rate, decline of 4; and Delaware Divi.
sion at 62, decline OF 1. l2s was bid for
quehanna Canal.
Quotations Of Gold-lOa A. NJ, 1ssa; IL A. NJ,
1885; IL NJ, 133S: p. NJ, 1885,, an advance of
on the closing price last evening.
The following letter from Secretary Nc.
CulloCh puts au end to all doubts as
to his course upon the question of contract
contraction might have been made stronger
The Secretary might have stated that for many
months there would be no surplus revenue
available for the payment of United States
notes, and that his income will be hardly equal
10 the redemption of the 730s, Compound
Notes, and past due debts presented for pay
ment. Until tue 7'30s are funded, and the Com
| pounds got nd or no contraction can be made
and probably none Will be attempted thus side OF
| December, 1868. After another crop is gathered
| throughout the Union and the short debt is put
! INTO long stocks, as will be the case in Decem-
! Der, 1863 the attention OF Congress can be
| given to the contraction of the currency with
| prospect OF success wholly wanting now.
TREASURY DEPARTMENT, December ls, ls67.-sir
Your favor OF ths instant Is received. IL is not my
notes this month nor Will Ihe condition O the Trea
sury and OF The eo9ntry Justify me In making the
II may be proper for me iurther to say that while
paymeas is peSsabs 10 the naoSs eS
ana that specie cannot be restored without
curtailment OF the paper circulation of the coun-
try, shall not continue 70 exercise the power OF
ierred upon by she act OF April ~. 1866, unless
aeye reason TO s1pposo @ tnat @ shall be sustained In
full opportunity Tor determining the future financial
% your Committee that there viii be, 10 contraction
Of The currency by the Secretary daring the present
Hon. John Sherman, Chairman, etc.
= The N. Y. Herald this morning saYs:-
"Money was In superabundant supply atsIx per
cent 70 stock houses IA good credit amounts
same time q few excep onal TRANSACTIONS for small
amountB were reported az seven cent, which rate
the bans sil ask from borrowers on miscelans sous
cOateralB, although they are willing take ak as
rule. The discount line ia quiet, aud hrHt-class CON
mercal pa passes freely In the open at 7s
per cent most OF the business being at ~ InferIop
SIGNATURES are however, out OF iayor ana Il is there
fore, difcult to sell any but the best quality even AZ
high rates. The favorable character OF the
last bank statement and the prospect OF q
sIislng iT9n the payment Of the January divi-
denoe inspire confidence among bank Ofiiosrs and
private money lenders. aud there is SOpne pressure
% lend In consequence 10 10 generally xpectsd that
the supply of money Will be 40 large In January snat
cai loans VIII be made mainly ~ per cent The