The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-29
FINANCIAL AND CONNER GAL,
MONDAY. Dec. 2s-6P NJ.


The gross cearlngs amounted to the limited sum Of
s2so75o oo The gold balances were 81, 225 79S ana
the currency balances sl,66fos6.
Late In the afternoon the money market was char
acterized by extreme strngency. At the beginning
OF business . comparatively easy feeling pre-
vailed based upon the relaxation at the close
on Saturday evening. On this account the
great majority OF borrowers gave themselves
no uneasIness and put or their demand for
loans until the afternoon. Toward the close Of bank
ing hours mo ney became strongly active and the
needier class of borrowers were compelled to pay all
sorts OF fancy rates to MAKE their good at
bank. Seven per cent gold was the ruling rate OF
interest on call loans, and In many instances COM
missions ranging from an eighth to three-eghths
We're paid in addition. The cont racton OF the banks
against the statement for the quarter ending Decem
Der 81 Is the principal OF this strngency There
Is also dsinclinaton to funds at this season.
while the great volume OF speculation requires large
amounts Of cash to carry stocks. The pressure on
the part OF the banks to supply the Southern demand
Tor currency and to appear Wei in the statement
leaves little hope OF an easier feeling In the money
market before the beginning OF the new year.
The government bond market was remarkably
strong and active throughout the day; not so much
through speculative demand as on account OF nnu.
merable investments by small purchasers The lots
sold ranged from $1,000 to $4,000, showing popu
lar wish to realize the gold interest due the 1st
January The prices at the opening were about the
same as at the close on Saturday From these there
was steady improvement during the boards, which
was not lost IN the subsequent transactions on the
street. Business was active on the sidewalk until
half-past four o'clock when the following quotations
preyaled:Umted States skies. 1881, registered 100
1os4 do. coupon, 114sl us; 5-2o's registered,
io51s lo6; do, coupon, 1852, Ill a 1l1A; do,
1864, l074 1903; do. 1866, 1857 1857; do, new,
1855, III l111S; do, 1867 ~ 1I1A; do, 1868,
1ll1l nix; 1o-4o's, registered 1929 1903; do,
coupon, 1854 a 1o5: currency bonds, 9o1S q o9A.
As compared with the first board prices these
Hgures show an advance for the day OF Il in 1915,
registered and coupon; x in '62s, coupon; Ia in
1915, u in old '65's, in '65's, in '67s and u
in '6s's.
The border State bonds were moderately active for
the entire list, and prices closed folows:-Ten-
nessee SKIES, coupon, 10 7oz; Tennessee skies,
new, 7o4 7ots; Virginia skies, ex coupon SO bid;
Virginia SKIES, new, 81; North Carolina skies, ex
coupon, CAS- OK; North Carolina sixes new, 62h
q G2ss.
In the stock market great animation prevailed,
and prices were steadily ana strongly active until
reaction was created, late In the day, by the
stringency OF the money market. The features
were New York Central and Rock Island. The
former advanced from 154H (the opening price,
TO 1865 about quarter to five O'Clock, with
subsequent rally to 1917 and relapse again to
1863 at the close The street free Of stories and
rumors and the upward movement was quietly car
rled on The buoyancy OF prices in the face Of tight
money Is or the remarkable features OF the hour
great deal OF Central stock was unlCaded at high
figures, but whether by the clique outsiders who
do not care to hold longer it ia difficult to say. The
amount OF stock in the hands OF the clique is est
mated at from fifteen to twenty millions Of dollars.
There are few no sellers options, indicating that
the clique have not yet decided to dispossess them
selves OF their stock. Erie brought in for rise
along with the general market, but without very
hattering success, the highest point touched being
4oA. Rock Island Is said to be manipulated by the
Erie Clique, and was OF the most active OF the
stocks on the list. year ago the street was
let in for very heavy loss by over-issue OF i've
millions OF this stock, the price In consequence sud-
denly declining fifteen 10 twenty per cent. AS the
Erie clique famous for this kind Of strategy they
may try repetition OF It with Rock Island. Ohio
and Mississippi was also quite active, advancing to
3SX under the guidance OF clique who are initiative
OF the Erie party. The Northwestern stocks received
an impetus from published statement Of the COM
pany, claiming net earnings to the extent Of seven
per cent for the past six months but 1t did not
tain the advance. The whole street is In good hu.
NOR, despite the stringency in money, and the
"bullsr are lubiiant The ''bears' have either
changed their tactics for the time being are pa
tiently waiting the more favorable opportunity OF
beginning their attack when prices stu further
Undated.
Before the regular commencement OF business
New York Central as quoted 154ls q 154A; Pacific
Mail 100: OHIO and MISSISSIPPI 32S bid; Rock Island
l18ts a 1854 anu Northwestern common, SOk q
So5S. Pacific Mail subsequently declined receipt
OF newspaper accounts OF the suit for s. 600 o0o in
stituted In san Francisco for penalties incurred by
alleged violation OF the Emigrant Passenger law OF
California. gta
At the 1rst open board sales were made OF Pacific
Mail at l1esl; western Union, aah; New York Cen.
trail 1885, Erie, s9si; Hudson River, 1874; Reading
sss.; st. Paul preferred, s.; Fort Wayne ILL., Ohio
and MississppAs2l q Michigan southern, y; Pitts
burg, sas.; Toledo, 1ol; Rock Island, III; North
western, sos; do preferred, s27s.
At the regular board New York Central sold up to
1J5iS; Erie, 4o,a; Fort wayne 1121; Ohio and Mis-.
sisspp,, 80; Reading 30. The movement In Toledo
seems to be abandoned.
The highest prices were reached in the interval
after the second regular board, New York Central
selling at 1885, Northwestern preferred at sax and
Ohio and Mississippi at $40. #fF
The quotations OF the last open board were as fol-
iows:-Welis Fargo & Co.'S Express, 25A 20;
American Express, l5,l; Adams Express as
40; Quicksilver, 22R %; Canton, 4ex . so;
Manposa, bid; do. preferred, 20 81; Pacific Mail.
il9h llo9s. Western Union Telegraph, 3s1 a "a;
New York Central, 1914 q 15Th; Erie, 4ok so1t;
do. preferred. G. q 6s Hudson River, 1873 1s4ix;
Harlem, 125 a 125H; do. preferred, 124 bid;
Reading, 9si osS Chicago and Alton, 14s las; do.
pseferred, 146 bid; Bankers and Brokers', 90 bid;
Alton and Terre Haute, 30 bid; do preferred, 81
bid; Wabash 5sS 5s1l; do. preferred, 90 bid Mil
waukee aud St. Pau. es a eSx; do preferred, SO
sou; Fort wayne, liz; Ohio and Mississippi, a2Js
81; Michigan Southern, ssA ssIS; Illinois Gen.
trial. 142 143; Prtsburo, a. q SAY; Toledo, 1907
1Ooys Rock Island 1l6 116h: Northwestern,
sos sou; 40 preferred, s2sl s2X; Boston Water
Power, 49, IL Boston, Hartford and Erie, 25X
a %.