The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-01-10
FINANCIAL AND COMMERCIAL.
THURSDAY. Jan. Or "

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FINANCIAL AND CONNER GAL.
THURSDAY Jan. o-6PM
Gold opened t 1854 this morning. after selling At I3o
the Fifth Avenue Hote last evening and the range OF
the day prior the adjournment the board was from
a36x 70 iooh With the closing transactions at 1881.
Following this, however, q repor, from Washing
son saying that the antcontraction bill up In the
esnsts, and that It would doubtless pass although
was meeting with considerable opposition. and there
npon without good reason the price suddenly ad
vanccd TO l37k; but Afterwards reacted and the la
eest quotation was lsTA al 3!H. There was drnin-
tshed borrowing demand for coin, and . more ample
supply. owing to the daily disbursements Of the Sub
Treasury, aud loans made at rates varying from
Shree seven per for carrying. The gross clear
Sings amounted to s79s4o.ooo. the gold balances 10
92,25o 297 and the currency balances to s2.o5s6ls.
Mp Tracy, the President Of the Chicago and Rock
Island Railway Company, and Mr. Tows the Secretary
appeared before judge cardozo at Chambers this morn
sng and purged themselves OF the contempt or which
ehsy had been guilty in failing to appear before tho
referee appointed by the court but directed to
appear before that gentleman At three o'clock. The in
~estigation has hswever been postponed until week
Crom next Saturday, when application will be made
80 the court to the proceeds OF the $4,000 Of
new stock and oher funds belonging TO tho company in
ths hands OF receiver Meanw bile the painlins In the
rsctors to cali meeting OF the stockholders and
submit the question OF tho new sock TO their
rascislon. The result in such an event would
probably be that the stock would be called In and
paid for. Meanwhile, unless OF the directors Of
khe company have been guilty OF fraud to large ex
Eent there nothing deprsss tho stock for although
Che additional shares have been issued the proceeds re-
main In the bands OF the Tho act OF Messra
Tracy and Dows in thus adding 81 to the capital
erlkl
tomphatcaly condemned discreditabls stocxjobbng
operation for the personal benefit OF themselves and
CHER immediate friends.
Tue money market nbundantly supplied with
funds at six and cent, the transactions at
seven having bcen rather exceptional The domestic
exchanges working in favor Of this centre and the
prospect Is favorable to uninterrupted monetary
In the discount Inns there is very quiet movement,
and the best grade OF commercial paper rated At
lper cent the street. while the banks dscounling
.dEreey for their customers At The legal rate.
4 There good investment demand for government
pocures at the OF the leading dealers, and
nlthough fvetwenties Of 1862 declined slightly In the
mornng, In sympathy with gold, thsy afterwards ro
covered In the afternoon there was . brisk
speculative ~ well investment inquiry for all tho
Mvetwsntes and purchases o. tho Issues Of 1862 and
1s65 bsing made by .bs foreign bankers for ship
mont The report from Washington that the Senate
House. and that had refused to postpone lis considers
Zion indefinitely by formal vote, tended to strengthen
Che upward tendency OF prices.
The fact that the general stock market IL high and
Atill rising, aud that six per cent In currency
Gtock, like Now YORK Central is selling at l22, while
govsrnments bearisg the Same rate In gold, only
from i've to eight cent above par with the accrued
Interest included, tends TO stimulate the demand
Tor tho latter ~ the cheapest invest
follows but Afterwards the In gold to 137K
caused an advance OF Y, although no transactions
reported:-Reg,sored, 1881, 1888, 10sN coupon.
1ss1, 1857 10SI Sos registered, 1882. l05H
105x; $685. coupon, 1852 1854 1851; 6se0s coupon.
1854. LOG looX; 52o's, coupon, 1885, 1904 l0eS;
b20'A coupon 1865, January and July, l04Z los;
o20s, coupon 1867. 1o4I 1o5h; lo-40s, registered.
1o2 1927; 1o4os, coupon, lo2a a1025l; juno 3os,
.aos . 105x; July 7.3os, 1o5 105S; May com
apounds 1906 117I NIX: August nds 1865.
,1l6X ley; September compounds, 1865, ll6K
A1eH; October compounds 1885, 1l5Z 1l8.
The Assistant I'm ted States Treasurer has given notice
shat holders Of tue rd OF 1s47 who do presen.
them for payment before the lat Of February 1865 will
be considered to have waived the right OF present pay
rrnent and such bonds will DO paid the option of the
government, interest being meanwhile paid them as
.hsrstofore.
At the commenceme, OF business the stock market
strong and at the na Of last evening"
and at tho early OF tho board Eric sold at
54X, New York Central l2l 81 and Rock Island at 90 u
Al the first regular board the market active and nrm
An tone but slightly lower . portion OF the Iisr
New York Central closed IL higher than at the
Cine yesterday, Erie Ia. Hudson River 2, Michigan
Central ~ Michigan Southern u, Cleveland and Pitts
burg IA Cleveland and Toledo az Rock Island Fort
Wayne III Toledo, Wabash aud Western u, Milwaukee
und 81 Paul "a do preferred q, Pacific Mail IL Quick
" 1 Northwestern
Cumberland Coal 4, Western Union Telegraph x Gov
eminent securities we're dun Coupon nvs.tsentss o.
1862 closed lower, of 1884 y. ssuo OF 1865
q. seven-thrtiss third series, were higher. Ten
,nesseo nxas, new, advanced 4, Missouri SKIES II. The
express shares duIl aud steady.
At tho open board at o'clock tho market
enued active and firm, Erie selling Al TAX aad Rock
J1sland at 06h. Subsequently Erie declined to TAX
TAX, but at the second regular board there brisk
demand for all the leading railway shares and tho
tendency Of proes upward Nov York Central
closed n higher than the mrs. regular board Hudson
1uvsr u, Reading y, Michigan Southern y, Cleveland
and Pittsburg u. Rock Island \, Milwaukee and So.
Paul preferred \. Erie was 4 lower, Cleveland and
Toledo 1. Fort Wayne e, Pacific Mail y, Canton %
Aariposa preferred y, Western Union Telegraph y.
Government securities strong. Coupon i've
awsntiss Of 1902 closed y higher, new issue Of
1scs Il. now issue OF l.o7 y. Missouri SKIES
declined y. Al the open board 81 half past
shros tho market was excited and buoyant
especially for Now York Central and Erie the former Of
which sold up to 122 and the latter 70 rs. Daring tho
remainder Of the afternoon the transactions In both the
New York and Western railway shares heavy and
although there large to realize profits BY the
chquss the market remained nrm. Il is however, only
reasonable to look for slight reaction. Notwithstanding
shat tho present Ia undoubtedly bull market A. the
eloss the suboiusd quotations we're currsntNsw York
Central, 122. 1221l; Erie. TAX TAX; Reading,
93x ao4; Michigan southern, s1h . s7ss; Cleveland
and Pt,sburs, OK s2X; Rock Island oox q ooH;
Fort Wayne, 90x a99ll; Northwestern. 6oK 5oH; do.
preferred Tx 73h Paciac Mall, ll3s< ia; West
srn Union Telegraph, $50 3sh; Ohio and Mississippi
certificates, 31ka3ix.