The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1868-12-30
Q o M M e R CIAL
New York stock and Money mar,,e,


NEW YORK. Dec. 29.-Money extremely stringent
until near the close OF banking hours and 7 Der Cent
currency with l-16 "a per cent. commssio per iay
was optaned, as was also per cent. Gold, with "a
per cent. per diem, and per cent currency with I
q per cent. till Monday,1 per cent. for 10 to IL
days and II per cent for 80 days. Before O'Clock
however, the strngency abated and as brokers were
generally supplied an easier feeling prevailed caus-
ing decline to per cent, Gold interest on mixed
bulls resisted the money pressure well and paid the
nigh rates for money sooner than throw their stock
overheard. report that one of the city banks was
IN trouble fromlts sses on mercantile Taper, re-
sutlng from recent dry goods failures which gained
Mee currency early in the day, entirely unfounded
The bank In question to-day creditor at clear
ing house to a considerable extent. Some Of the
banks have doubtless sustained losses by the recent
mercantile failures, but none, it is probable, to an
extent sufncient to impair insolvency. The money
strlngency IS checking all speculative movements in
produce and all other departments of business and
there Is no prospect OF any permanent let-up until
Ter the quarterly bank statement, Jan. 4th Ster-
ling Exchange dull at 1891 q 1891. Gold was dull
throughout the day, the gross clearings being only
and closed at 1874 1S4i the highest rate pai for
carrying was BIG per cent per day; exports to-
day S3s,O0O. Governments declined 95 per cent
at first call owing to strngency in money but all the
STOCK offered found takers, and the market closed
firm. Henry Clewes & Co. furnish the following 30
quotations: Coupon 6's 1881, 114b a 114k; do 52Os
is asU. "a ~ g lessi a9 1852 iSsa
DO 1868, 1lo5 g lila; 1O-4Cs, 1853 e 1857
Border State bonds dull and lower; new Tennes-
sees So; new North Cardinals, 6os @61l; virginias
81; Missouris, 80.
The Railroad market opened at a slight advance
on the closing quotations of last evening" but when
the money stringency became known there was
pressure of sales by weak holders which carried
prices down a u per cent /; at the decline prices
were well SUPP orted and exhibited great flrmness.
The larger holders OF stocks it is believed have made
arrangements for money, extending into next year,
and Will, therefore, be comparatively unaffected by
the present stringcncy In the afternoon, under an
easier condition of tile money market there was a
more buoyant feeling and general advance in price
n Central, which had sold down to 1874 rose at
the second board to 1885, Ohio and Mississippi adj
vanced 2 per cent, while the rest OF the list was
about per cent higher. At the last open board
prices fell considerably from the highest point, ex-
cept Fort WayAe, and Ohio g. Mississippi, and at the
close the market unsettled though the activity
was undated. The toll wing are the street prices
Union Telegraph, S5s q ass; Hartford & Erie, ii q
~; New York Central 1874 @ 1871; Elie, 3s3 q S9
do preferred, 63l "a 64s Hudson 1885, a 1884; kead.
ing. 97a q 9s; Fort Wayne, 1l3 q i13b; Michigan
Central, 124 Michigan Southern, S6s a seE: Illinois
Central, 14i 9 I43; Toledo, 99i q Dog; Chicago &
Mining shares more active; large sales of Gregory
| at 4s0 q 400; Smith & Parmalee 275
The balance at the Sub-Treasury to-day amounted
| to $780, ,1s9.