The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-19
FINANCIAL AND CONNER C'AL.
FRIDAY, Dec. 1916 p. N.

eagerly taken up, ana ooito"eiS IL iA."A' 1885,
being Obliged to pay gold interest inefe was
less tax than Yesterday OF probable docking
mn, al rpnds and it would appear that II ever
such a scheme were contemplated 1t has
been abandoned as being unlikely TO re-
spt very much 10 the advantage OF those
pryy TO ii. The dif1iculty presented by the large
cnroency balance in the Treasury TO the accomplish
ment Of any very great erect makes this q reason
able conjecture, the men VINO would conceive such a
coup being shrewd enough not to engage in 1t unless
able fully 70 control all the influences likely to pre-
sent any formidable opposition to Its success Some
thing OF the present tghtness in money due to the
anticipation Of another .'unfavorable' bank state
ment this week, IL being wei known that shipments
Of currency South and West have continued since
the last statement, and specuatons are already
INDUCED in that the decrease OF legal tenders IN
consequence this win nearly II not fully equal
Last. The high rate OF interest paid call loans
limits business in commercial paper Rates con-
unue from to 10 per cent nominal. Foreign eX-
change was dun to-day and or arout = from the
rates OF yesterday, but closed arm on the basis OF
prime bankers sixty days. 100ls short sight, llo4.
We understanding sixty days, commercial. 1854
1925; bankers, 1924 1895; short sight, llo'S
lloj4; Paris, sixty days, $50 5i6ii; short sight,
513s4 51218; Antwerp, go 5.l6i4; switzerland,
520 5.l6M; Hamburg, 55aS a $50; Amsterdam,
Prussian thaiers. tx a ~.
Gold opened this morning at 134zs and before two
O'CLOCK sold down to 1341s, with quiet, dull mar
ket. Earlier than this intelligence had been re-
ceved by prominent banking houses OF decline in
American securities in London and Frankfort, with
che further intelligence that the market was ILL.,
Contemplation OF these advces induced the conclu-
siol that new complications had arisen in the
Oriental question, and large orders were given by
being executed advanced the price, when the
''shors,v taking alarm and fearing serious embar-
easements in the future, covered" and the price
rose in short time to 1861. A disposition to sell
at mis- high rate in turn caused reaction and the
Market after nuctuating freely between 1885, 1863
and 81 closed at the latter in the Gold Room, but
weakening stl more after Clearing House hours,
finally settled at 1876 on the street. Some heavy pur
chases OF coin made in the afternoon by foreign
houses, and for time the market quite feverish
and excited. The large supply OF cash gold on hand
and the high rate paid for carrying, A. s. and even
80 Of per cent, operated however, against the
continuance OF a high premium, and The excitement
speedily subsidized. The following were the dealings
at the Gold Exchange Bank to-day:-Gross clear
ances, 500 $50, 600 gold balances, 81 005 282 cur
yency balances, $a,0s2. $50.
Governments to-day presented but few features OF
interest," opening duh and heavy at about closing
rates OF yesterday weakening through the day
under limited demand and closing about y OF the
morning prices for portion OF the list with the
balance steady and an unsettled market. The
scarcity or money Is operating to some extent to
depress bonds, holders exhibiting willing
ness to sell at concessions in order TO OBJ
tain currency, being fearful Of still greater strin-
gency, either natural artificial, about the period
OF the holidays. This feeling exciting strong bear
pressure In the market Is the principal OF the
present depreciation and it is only temporary in
Its nature its effects likely to be similarly neeng
The following were the closing quotations at five
o'clock:-Unted States e's, Pacific Railroad, ss4 q
o91a; do. do, 1881, registered, 100 . 1os,s; do.
do, coupon, 1141 o 1l41s; do. 5-2o's, registered
105k JOG; do. coupon, 1882 1lo,s 11o,s: DO. d.
1864 1867 1867: do d. 1866, 1913 1O71 "a do. do,
new 1885, 1O97S no. do. d., 1867, 1osaS no. do
do, 1863 ITO l1oH do, lO4os. registered 1927
. lo3; dc. do. coupon 1o5 q 1851. -
State bonds were quiet to-day without E}ncn
business doing, except in North Caroinas and TEN
nesseos, and closed weak At the first open board
North Carolina 6's ex coupon, sold at 65 and new
Tennessees, at the last open board at 6s. The fol-
lowing were the closing quotations in the regular
board:-Tennessee e's, ex coupon, 6s 80; Tonnes
zee 6's, new, es 6s4; Virginia 6's ex coupon, 55
&c. do. do, new bonds 81 571s North Carolina e's
SIS, COX n 9oH
The great feature OF the stock market to-day was
New York Central, which advanced from 1919 to
1921, settling again to IN and closing at 1919
1919. The excitement oceasioned by this sudden |
advance concentrated all the interest Of the market
IN this stock, almost to the exclusion OF dealings in
Others with the exception OF Rock Island, which |
continued strong during the day in consequence, |
opening at losK and selling up to 1851, but sym.
pathizng afterwards With heebb movement in Cen.
trail and closing on The rest Of the market was dun
and barely steady. As the irst move In the bun
programme, the aim OF whidh is undoubtedly TO
place Erie again IN the list OF speculative shares the
operations in Central so far shot excellent manage
ment, while 1t is certain the eod is not yet. 1t Is
quite PROBABLE that Central will witness still fur
Their advance tomorrow. Bets have been freely
offered that II will sell at 132, while one-quarter OF
per cent has been ofkred for . call
OF one two thousand 1t that figure
all day tomorrow or at 133 on Monday and
prophecies are INDUCED in that II viii reach 1876.
The artificial character N this rise 10 apparent that
but few outsiders are in the marka, ana even bro
kers hesitate to purchase: that II equally within
the range of possibility lat the entirs fabric should
come tumbling down about the eats OF all who
have been entrapped INTO dealings. We do not,
however think this at present likely, although the
eafest policy for all operate in narrow margins
If to stand from under as we regard this but the
initiatory step in an elaborate programme designed,
we have before said FOR tie rehabilitation OF Erie,
the managers OF which have ample capital to carry
out their plans
The following were the closng quotations at half
past Ave O'Clock OF the principal stocks:-New York
Central, 49, 1915: Erie, sos 3ez; Hudson
River 12e i27Is Reading. ,5ss es5S; Michigan
Southern. SOS 500; Pitsburg, s2t1 SAX; North
western, 20 Tc,; Northwestern preferred, 1ss a
ssA; Toledo, Iol1. log; Rock Isand, los% 1851:
Fort Wayne, 40 10Y; Milwaukee and st. Paul,
e55. o5Js; -. Paul preferred, saa 3d.; Ohio and
Mississippi lsx a 29it western Union Telegraph,
80 bid; pac &c MAIL liz bid.
The receipts for customs and the receipts, pay
ments and ullances the SubTreasury IN this city
for the Cd r,nrfinn ~ the week have hnan A