The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-01-19
AND COMMERCE.

'
| SATURDAY. Jan. ls-SPM
Speculation on the ssock Exchange was rather ,de.
to-day bus towards the close there we're gus OF ANNA
sion and the railway share market had an advancing
tendency, while the probabilities ere that nex. week
will witness renewed activity. h,ney was offered In
excess or requirements OF brokes sr per cent and
the largo houses were enabled to boyow q, i've but
nevertheless tho private bankers asked seven per cent
for small and moderate amounts on mxec coliateras
Tns n0w Of currency from the West and he interior
generally Is adding largely TO the volume OF Ioan-
abba funds q this centre, aud the ,ndics.
lions are favorable to a plethora Of capital
Tue demand for FIRST class discounts Is light and
freely met by the banks while the best grade of
mercantile paper passes at a III per cent ON the
street. The OF Fisk BsIden against the directors
OF the Chicago and Rock Islsad Company up
this morning before Judge Cardozo, at the Supreme
Court, Chambers applications to attach defendants
for contempt in refusing to answer certain questions
put the referenco The court adjourned the further
hearing OF the motion uatil Wednesday next
II Is stated that General Logan will Introduce
luton Ia the House or Representatives on Monday
requesting tho Secretary OF the Treasury 10 commune
cae any Information in his possession concerning
iosas by any national banks in this city TO any
one person In excess OF ons-teush Of the capital
OF sueh banks ttho limit imposed by section twenty
nine Of the National Currency act) upon railway
mining stocks at fictitious values and whether he has
information that officers OF such banks engaged
in speculative operations in such which involve
the capital and credit Of their respective institutions
This resolution has probably been suggested by tho City
Bank deracaton, which Is reported to have had its
origin in stock speculatons; but although Il may lead
to an examination OF the banks, it will fail to
accomplish anything. II any bank has lent
mors than tenth part OF its capital to any person
it ID easy master In Wall street for the borrower to
get other person divide the loan but rulo
the banks OF this city have puYnued cautious policy
with regard TO coaterais In granting ioans and mining
stocks have always beon declined such, With she
ccpon OF Cumberland and Quicksilver TO very moderate
amounts. That some bank officers may have abused
their position by lending without sufficient security
not impossible but these instances are likely TO prove
rare although speculation among bank officers is doubt
less not uncommon
The earnings of nearly all the railways continue be
a larger scaIs than they a year ago. which 10
saying much considering the depression which pre-
vailed in trade for many months past. Thus those OF
the Michigan Southern in the second week Of the
present month aggregated $1,000 against $50 l36 for
the corresponding week last year. and the ngs OF
the Erie in December last slightly larger than
those for tho month IN rs66--namey, S53I. The
average earnings Of all the year excess
Of those Of 1865 aud the increase hs year Promises 10
be still greater.
Tho gold market has been steady and quiet in the
absence Of disturbing rumors from Washington and the
extreme range from 1885 TO- 1884, With the clos
ing transactions prior 10 the Adjournment OF The board
1885, following which the latest quo station 1885.
a 1854. Cash gold vas In superabundanl supply aud
loans wero maae mainly at 5 a per cent per annum
for Carrying The gross ccaringx amounted 10
the gold balances s. 100 SCI and the cur
rency balances to So 279359. There shipment Of
specie reported by the steamers sailing oday, and the
export for The week from the port has been unmpoant
The coin disbursements OF the Subr,nsury for tho FIRST
i've days OF the week aggregated 81 $50 $780, Of which
81 oOs 900 for interest, and $780, 500 in redemption
OF the loan Of Is4T
IN aaiv ran0a of Tho n. IL an,;cr .ha .nv vras