The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-26
FINANCIAL AND COMMERCIAL.


To-day has been observed as a close holiday in
Wall street and many large operators made their
engagements Tor money for the interval TO the be-
ginning OF next week.
;. The bondholders have taken the alarm and have
joined the swarm Of lobbyists who are to besiege
Congress, after the recess with view to prevent
action on the question OF resumption OF specie
payments. The bill OF Senator Morton, threatening
as it does to force his measure upon the country
seriously alarms tie boadholders, whose property
would be subjected % serious depreciation How
ever causeess their alarm in view Of the fact that
the laws OF trade and commerce. which are superior
TO those OF Congress win defeat compulsory resump-
ton the assistance Of these lobbyists win not be
ungrateful to thu mercantile community II 1t assists
IN preventing tic preparation OF SO fatal
blow TO our commercial prosperity. The matter
Is an instance Of good arising from evil The invest
ment demand for government bonds is quite large
in this city ana throughout the country at the pre-
sent time from tie national banks and private cor
poratons and capitalists who DESTROYS Of obtain
ing the gold interest now nearly ready for payment
and to avoid the local taxation which the possession
OF these bonds enables them to avoid. The market
closed strong on Thursday with the following quota
tions:-United states SKIES 1881, registered 1851
1O9; do. do, coupon nisS l148; do. 5-2O's regis
tered, los 1861; do, coupon 1862 110H o 1101a;
do. do, 1854, 1905 loJs do. do, 1865 1918
1075s; do. do. new, 1895, 1lota 110l4 do. do 1851,
110i6 11O4 40 do. 1858, 1903 HOY; do. 10-40's,
registered, LIZ lO2 do. do, coupon, 1855 los Il.
Currency bonds, 30 994.
Money became easy cutie suddenly in the afternoon
OF Thursday, owing TO reports that the government
was about to reissue S2o,o0o00o new notes in place
OF those which we're called in by the Secretary OF
the Treasury on account OF the limitations and
counterfeits IN circulation The withdrawal OF these
tivity OF money. hence the report referred to was
easily employees to make rates more easy. There is
little disposition 10 lnyes. in commercial paper aud
the discountng business is dull. While money
could command from TO II per cent on call loans
buyers were not inclined to deal in paper. The
easing OF the money rate to seven per cent currency
will have tendency to revive business in discounts
Gold became hrm ana more active III consequence
OF the report above mentioned and on account OF
rise in government bonds in Europe. The opening
price was 134ss. nom which there was settling to
1Ah. The easier feeling in money and the causes
nrst mentioned contributed TO make the market active
In the afternoon, ana the price rose to 1853.
Foreign exchange was less firm account Of
shipment OF specie which, IL is expected viii be fol-
lowed by further expectation within the week. Rates
closed as folowssterling, sixty days, commercial.
1854 1925 bankers 09S 1907 short sight, 1lOX
1104 Paris, sixty days $40 5.16j4; short sight,
613A 5.12h; Antwerp, $40 5.161S; Switzerland,
$50 5.l6A; Hamburg, 357S S6t5; Amsterdalb
40ss 41s Frankfort, 4O5s All; Bremen, 7S5s 70;
Prussian thaeTs. u : Il ~.
The stock market on Thursday was buoyant and &C.
tive in consequence OF the relaxation in money rates
and reports that the entire Erie litigation was about
to be settled. New York Central was particularly &C
tive, ADVANCING 70 1858. The cliQues in both Erie and
New York Central are.anxious to make peace in order
H,zkn
situation in these stocks is thus apposltely COM
mented upon by the Eueaing Telegram:--sWhat
material benefit expectant upon this settlement be-
tween the two great clqaes induces the outside pub
1ic thus to 10 their assistance Ia mystery to
said outside pubic themselves, but to inform them
that because opposing combinations Of gamblers
have resolved instead Of continuing to fight one
other, to unite their forces against all Others does
not advance the value OF stocks render specula-
ton anytime less hazardous, would be useless.
There must always be larger proportion OF
dupes than knowing ones and 1t would be seek
ing to alter the Of nature TO endeavor to make
it otherwise. II was probably the fear the part of
the Central managers that their stock would become
as difficult to get rd OF as Erie that induced CON-
promise. When both factions have relieved them
selves OF their present incubus new antagonism may
be expected
The great wonder Is that the directors while they
were about it, did not declare dividend of the en-
tire 100 per cent. indeed it is loosely observed In
Wall street thai the complement OF twenty per cent
may yet be declared IL It Is found necessary TO con-
tribute to the speculative demand.
The most active stocke OF the day were New York
Central Rock Island Toeio, st. Paul, Northwestern
and Ohio and Mississippi.
The following the quotations az the last open
poard:-Cumberand. 50 379s; Wells, Fargo co.'s
q or mi tal Stata Expr A
Merchants Union Express, l5S 1eK; Quicksilver
az 21K; Canton, ssh so; Mariposa, Oh; do.
preferred, 49, Pacific Mail, 11g5l 12l; western
Union Telegraph, 53's a S3a; New York Central
15lM 15lA; Erie, 3Sit a 3sh; do. preferred, ca;
Hudson River. l83 bid; Harlem, 12s l29; Reading
g7x 90; Chicago ana Alton, 141 bid: Bankers and
Brokers', 100 bid; WABASH 5sI a 80; Milwaukee and
st. Paul CT a Ga; 10. preferred, 81 IS; Fort
wayne 111sS III S; Ohio and Mississippi, 3o7s 81;
Michigan Central 1l3 bid; Michigan Southern, SIX
as71; Illinois Centra, "A a 143; Pittsburg, s3H
ss,s; Toledo op's a. ois; Rock Island, 1i3S 113A;
Northwestern s9S 1885, TO- preferred, SIX o SO.
There were no late boards, on account OF Christmas
Eve The CLOSING quotations at hafpast four O'Clock
were as folows;-New York Central, 152 bid;
Rock Island, no r5%; Toledo, soH a 9oA; Fort
wayne 1112 49, Michigan Southern, SIX a IS;
Reading, s5sS e7}s; Northwestern, 79s4 so; North
western preferred Sc a s2H: st. Paul. OK a 6s;
Hudson River ~ asSe Pacific Mall 1e91s 1204;
Erie, $50 a3s4.
The border state bonds were dealt In quite freely.
The closing plcas were:--T, nnessee 6's ex coupon,
ssx 60; Tennessee Gs, new, 6st4 ss;s; Virginia
8s, ex coupon So Z o5&: Virginia 6s, new, 81
oTh; Georgia Ga 81 a 80; Georgia rs, e3 a oSi4;
North Carolina 81. * coupon, 6Sk a ca North Caro-
lima 6's, new, g. 2 6iiG. Missouri o's, 90 a eoIS
The bonds OF rho stato of Louisiana have been ad-
United to the cal 81 the stock Exchange and have
advanced to o. a Jo' FOR the od bonds and e2K
e3x for the Levee bonds on the official announce
uient that the payment OF interest will DO com.
menced January ],
The following Is an odlcial statement Of the debt
of Louisiana
Old six per cent bonds So oss0n0
Old i've per cent OoUts.. $4,000
New six per celt bonds .................. z9A,S10
Ieyeo six per ccns baadS................. 100000