New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-01-23
SALES
Mining Stocks.
TUESDAY, Jan. 22-r. N.

Gold is lower closing at 1855, after selling al l%
Business at the Stock Exchange continues upon
n limited scale and the street greatly needs reGn-
forcements of fresh operators with money to lose
Government stocks are steady on the gOd-bearing
issue, and weaker on the 1905. State bonds Rail
way mort cages, and Bank shares are neglected The
miscellaneous list is duh, and hardly enough business
done TO continue quotations. Cumberland Coal Co.
sold at g, and Boston Water Power at 2GI. The
Railway share list was lower, and no large
lots could have been sold except at ma
terial decline. After the call prices were
lower but at the reduced quotations The
same dissemination to buy shown. At the Second
Board prices were all lower and the desire 10 sell
urgent Canton was offered at u decline; Cumber-
land Coal was offered at q n cent decline and only
% was bid; New-York Central fell l.; Erie, z
Hudson, j Reading, Z; Michigan Central, il:
Michigan Southern, J. Cleveland and Pittsburgh,
j; Illinois Central & Northwestern, j; North
Western Preferred 1s Rock island, II, and Fort
Wayne J. Late in the day the market was barely
steady at the following quotations: NcwYorll Cen
trail, lOGalCGs, Erie, C4laCll; Hudson, 12j Read
ing. 1O2! alC2s Michigan Southern 20. North
Western, Il OAR; North Western Preferred, q! an;
Rock Island, g7sa973; Fort Wayne, 0Gsa9Gi; Cum
beTland j2Gji.
Money is in good demand among stock houses at 7
per cent and few loans made at less. For com
mercia paper no change. Best names pass at 1lQs,
and 9G12 for second grade.
Exchange is quiet at the following rates. London,
90 days 1O9!alO9a; sight, 1lOGllO!; Paris, long,
b.15; short 5l2l Antwerp, 5.2Oa5I7l; Swiss, 5.2O@
0517l; Hamburg $50; Amsterdam. All Frankfort,
4120Ai; Bremen 79.G70.; Berlin 72la72s.
Money in the Western cities is no more abundant
or cheap. Tie Cincinnati Commercial Of Saturday,
says:
H.o- e. Il, M rcenoct easier Tho offorip,s NJ manor
are In excess OF the means bankers inter
est arc firmly maintained as heretofore
The Chicayo Republican of Saturday, says:
There are no new features in financial affairs There is
an active demand for money both in the way Of renew
as and fresh paper and the banks find II extremely an
looked The rates Of discount firm at 10 per cent per
snnun at the discount houses and laa2B per cent per
month ~ the open market
The feeling gains ground in financial circles that
the present Congress will do nothing in the way of
expanding the currency, and that it viii allow the
funding system adopted last year to remain in full
force, including the retirement Of $1,000 cooper month
Of legal tenders. Beyond this 100000 per month OF
contraction by canceling legal tenders, there is
another conservative process in operation which
overtrading merchants and spectators should not
FORGET and that is the maturity of full $50O0OO0 Of
compound notes in 1851 and the first series of 1900
On 'he Ioth OF August 1867. AS matters now stand,
'uo,e Is reasonable certainty that the compounds
w 0ah DO funded into gOld-bcarlng
Donu'' anu long step be taken and secured to-
"eiu specie pay ments 10 keep the compounds as at
present profitable reserve for tho banI an attemnt
is being made in Congress 10 renew Them with
Treasury notes bearing less interest. The movement
is wholly in the interest of Spectators and traders
and against the labor of the country and the sooner
itiskilled the better. The plain duty of tbe conn.
try is TO put into funded debt the whole hatch Of
due bills given during the Rebellion when other nav
ment vas impossible. To the extent of the surnlns
Income, legal tenders whether interest bearing or
should be absolutely destroyed and the remainder
Funded into bonds, to be paid in turn from the sur
pns income OF future years. after the labor Of the
equity y GpSs more employed u RgV4ialls i4Aapsls,