The New York herald., 1868-01-08
FINANCIAL AND coMNER0
ru.DAY. Jan. HAr. n.

closing transactions prior to the adjournment Of the
board a. l3ox sgainss 1851 at the opening supse-
ausnty thsrs was no material change and the latest
qrotatoa laox 1851. There uas brisk borrow |
ing demand for cOin but the supply was fully equal 70
IT, and loans made at rates varying from TIVE TO nvs
per can't for carrying. The gross ciearings amouated %
$92 ooo the gold balances 70 $l626,6II. and the
currency balances TO g. Tho receipts Of specie
and bullion from California At this port during the
past year amounted 70 t27.ss2,7sS and the |
receipts from foreign ports within tho same length OF
time 70 $500. .33o-making . total OF e31, 2s9,l2a
The exports during the year aggrsgatsd $751; e4s or
in excess Of the receipts exclusive OF three
miens transferred from the Sub-Trcasury %
San Francisco to the sub-Treasury here. American |
silver is quoted ct 5k az per cent below gold, aud
Mexican dollars rated at l03 1887 in gold. There
special cause assigned for ths rapid advance in
the premium, which duo 70 the speculative |
influences which recently led to the decline 10 1881,
ths natural reaction being stimulated by the large
"short interest outstanding and the efforts Of the
bulls to make the most Of Il
resolution was offered to-day as the regular board
70 rsscind the entire sxtieth article Of the bylaws
under which Messrs Lockwood & Co. declared TO
have forfeited their seats but the matter is still In
abeysnoo. Tho comments Of the street the recent
action Of the old board with regard to Aessrs Le Grand
Lockwood and Van Buskrk decidedly against 1t,
outside Of tho number who voted In favor OF tho sxpul
Of those gentlemen. The fact is that Messrs Lock
wood & Co free traders, while the regular board
is composed almost entirely Of protoctioniss and the
former deserve credit for the bold stand they have
taken against tho old fogyism Of the Stock
Exchange and from their great wealth. their honorable
position and tho extent Of their business, they are
able to set example which will not te without ad-
vantage both tho board itself and The general pubic
On the 1Ith OF November, 1862, Messrs. Lockwood h
Co. suspended from membership for the period OF
sixty days the admission BY the partners that the
house had been doing business different principles
to commissions than nxed by the rules OF the
board and the event then, now. illustrated the alb
surdiy Of the regulation and nothing moro. At that
time public board Just struggling into existence,
and there is reason to believe that the subsequent
establishment of the open board greatly facilitated
by the practical support which tho project hon rcceved
from Messrs. Lockwood & Co. This suspension led.
however, to tho abrcgation Of the rule compelling
members to charge not less than eighth per cent
commission for buying or selling and although it was
readopted 1t rescnded again, and the men,
bers Of the board At liberty to charge as low
rate OF commission as they please Whom Mr.. wliis.on
b. Lockwood, the Of this last sensation, first be-
member of the open board In violation Of
article sixty of the bylaws OF tho association, which
then read Amy member OF thi board uniting With
any other organization whore stooke, bonds. &C..
dealt in, who shall visit tho rooms where
such dealings had Tor who shall through
any other party buy or sell at any such
organization) shall to be q member Of this
board" 1t known that Mr.. w. b. Lockwood was
acting for the firm Of Lockwood Co. to meet the
tho words which have included parenthsses
were rescinded. Here another step in the right
direction and remains 70 bs how long It will
ha hofo aindaP of "a n
The market for stocks Of all kinds has been strong
and active aad among the railway shares Erie and Rock
Island attracted particular attention. the transactions n
both being large and the tendency Of prices upward
The speculative feeling 10 gaining strength with the
revival Of confidence in values, based in part upon
the suspension Of currency contraction the passage OF
the Anti-Coatracton bill before the Senate being
regarded certain The advance gold also favors
Improvement, because prices had been adapted 70
higher premium than has lstteriy been current, and
hoavy fall in gold involves loss TO tho importing and
mercantile community Another IL the abundance
or money this and the fact that the national
banks made up their quarterly returns without produc
ing the slightest disturbance in monetary channels
Loans on colatersls freely
at six per cent and the banks discount
ing for the legal rate, while first class
commercial paper Ia salablo on the street at per
cent.
there increased demand for investment at
the counters OF tho leading dealers Fve-twcntcs CT
1862 and ,hs old vctwenties Of 1896 particularly
srong owing mainly TO the rise In gold aud the
sequent foreign demand the former selling at l0sh
and the latter at 1908. Tho disbursements OF the
Treasury tho banks and public companies payment
OF ineres, and dividends rapidly swelling tho vol
Of idle funds, and large portion OF these will be
renvested in governments which ct prices are
for the interest they bear the cheapest securities in
Wall street. Al the close tho market strong at the
subjoined Registered, 1884, 1857 10sx
COUPON 1881, IosX 1857; 6-2o's, registered. 1862,
1861 . losx; S2os, coupon, 1862 1851 1854;
co., 1854, 1861 loeH; do, 1855, 1861 1ooa;
do. 1895, January and July. 1ol% 1o4X; do,
1861, 1oaZ q 1o4I; 1o-4o's, registered, 1o2 1o2A;
1o-4e's, coupon 1927 1924; June 1905, lo4x
1o4Js; July 1905, 10fx lo4X: May compounds,
1896, 1l7% 117%; Angus. do. l1esi q 1loss; Sep
tember do, 1l8 u lloA; October do, 1l5x alIe.
Another injunction upon the directors OF tho Rock
Island Railway Company has been issued by the
Supreme Court on the complaint OF ar Rufus HATCH
by which the former restrained from making or
entering any the part OF the company
to extend its road from Dcs Moines towards Omaha
any point from dsposng Of the proceeds Of the
sale OF the o. 900 900 OF stock In way from
Issuing any additional stock. The following is the text
OF the injunction referred to-
Supreme Court, Cly and County Of Ne'o York.-Rufus
Hstch behalf OF himself all other stockholders OF
the corporation, defendants herein, va Tho Chicago
Rock Island and Pacific Railroad Company. John Y.
Tracy, Thomas O. Durant Charles w Durani, David
Dows, David rawford, Jr.. Thomas T. Sturges Francis
H. lows, N. B. Curtis Oliver Charlick, Clark Duran
Robert A. Forsyth aud Ebenezer Cook.-on tho com.
plain herein duly verified and ndavts the part OF
plaintiff motion OF Burrill Dawson Burri plain
as attorneys IL rs ordered tuat the defendants in this
action above named b. enoined aud restrained from
making entering toto any contract agreement or oo
CATION on tho part OF the said Chicago Rock Island and
paciac Railroad Company end It's 10, build
aid in building any road from or beyond. Des
holnes, Iowa, or 20 make tho connection between
Des Moncs, lows, and he western limit Of Iowa, and
from creating any liability the part OF the said
company In respect thereto, aud from apprcprating,
using dsposng OF any OF the moneys property OF