The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-01-03
FINANCIAL AND COMMERCIAL,

l
| THURSDAY, Jan 20 P. NJ.
! The gold market was steady and moderately active
to-day, the extreme range having been from 1884, TO
1885 with the opening and the closing transactions At
| l33h Owing to the Treasury disbursements In pay
Of the January coupons and in redemption Of the
principal Of the bonds which matured the LIST inst
cash gold in abundant supply, and loans made
without interest aud at two per cent for borrowing
we'll at one, two and three per cent for carryn
The gross cearngs amounted 10 $50.377 000 the gold
balances to sl.SS3.073 and the currency balances 70
$2,343,3s7. The steamer Hermann. for Bremen, took
out 81, SOC, 900 In specie and bullion.
fho money market well supplied with capital and
the demand the Stock Exchange largo, but
loans for small and moderate amounts miscellaneous
colaterals generally made at seven per cent,
although tho leading houses had difficulty in borrow
ing all they required at six per cent while the ranssc
tons governments almost entirely at this ratio.
The banks aud public companies are holding larger
than usual OF currency in order to provide for
the pay ment OF their sem-annual dividends which be-
gan this morning, but relief from this source will BIO
felt daily The associated city banks are little stronger
in point OF than they at this time last
year, the deposits. according to the last bank
statement in 1867 having boon $22.09S,0o9 less
than at tho corresponding date in 1868. while
tho legal tender notsaare only 342755 less and the
specie s. 1858 less. and whle the circulation Is
81 469 S74 larger The discount limo inactive and
first class commercial paper was rated at q per
cont
Business the Stock Exchange devoid Of specu
latve excitement and OF the brokers and other
professional spectators absent from the street.
Nevertheless the market the Whole steady, Rock
Island being the frmsst and most active OF
the railway sharea The comments Of all disin-
toro atad IN
which the directors Of this company were
recently concerned the Of naerng to those
gentlemen, and Is due the stockholders and the
public that full explanation Of it should be published
by the board OF directors The latter admit that forty
nine thousand shares Of stock issued within
ew days weeks past osensby to provide for tho ex
tension Of the line from Des Moines TO Omaha but they
furnished any evidence to justify the sale Of
such large amount Of stock at the present time and
49, moreover obvious that the company can have no
immediate use for the proceeds OF $4,000 900
Of stock, at 90 90; the especially
the directors avow that they had moro than
q million and q quarter Of dollars In cash prior
TO the sae, that they have not loss than six
millions of money In hand, for which they find
profitable employ than that afforded by loans
call at little moro than half the rate the
pany paying In dividends on Its stock. Such
this calculated TO throw dscrod upon
the stock OF tho Rock Island Company, and 1t is TO be
hoped Messrs Tracy & Bows will the advantage, If
not the necessity, OF making cean breast OF their
this affair 1t understood tina. several OF the
directors Of the company sold short" heavily before
| the stock disposed of, and that they
| still remain short The latter sold some
| days before 1t issued, and stock was
meanwhile borrowed TO make the necessary deliveries,
which gave appearance OF scarcity to it, Az stock
obbng trick is admitted by all to have been we'll man
aged Speculation in the Vanderbilt stocks is just now
rather quiet but prices are well sustained, monopoly
being evidently favorable to lrmness Last week tho
New York Central Company put in operation uniform
pro tariff OF charges between Albany and Buffalo,
we before ntimated that it had and thus tbs nvious
distinctions hitherto mado OF points Eko Bala.
via syracuse and Rochester where tho Eric RAJ way
tered into competition. abolished These have been
Of plant along the limo for many yoass and
have led to several pro rata bills being introduced Do
the Legislature Albany the opec. which tho
| company has now voluntarily embraced.
AT the commencement OF business the stock marx 81
was dull but steady, except for Rock Island which
active and advanced to 94x Cleveland aud Pittsburg
was next in point Of armness and advanced to s7k At
the first regular board the market rmer and Rock
Island advanced to 95H under the operations Of bull
CLIQUE assisted by the hor In the stock OHIO
and Mississippi active and advanced ~ 20T, while
| Cleveland and Pittsburg rose 10 SSA. The trans
| actions In Pacific Mail were large and tho
| price advanced from ll2x to ia on the call. New
York Central closed Ia higher than at tho Same time
on Tuesday, Erie x, Michigan Southern q. Cleveland
and Pitlsburg q Cleveland and Toledo d, Rock Island
~ Northwestern preferred IL, Milwaukee and st.
Paul preferred Pacific Mail ga, Canton 2, Western
Union Telegraph ~. Atlantic Mall was u lower. Gov
| eminent securities were moderately active Coupon
hve-twon,ies or 1865 closed u higher. Coupon i've
twen,ies Of 1867 new issue, lower, excoupon
seyen-thrties second scrios "; third series ~ Ten
nessee skies. new, SO lower, ex.coupon The
| express shares were dull and Il y higher.
At the open board at O'Clock tho market dull
but steady except Rock Island which active
o47s 95A. Erie sold at 72% and Pacific Mail at ll3
AT tho second regular board the volume Of bust
moss light, aud prices were slightly lower,
except for Eric, which sold at TN New
York Central closed lower than at the FIRST rssu-
lar board Cleveland and Ptlsburg Il, Rock Island X,
Northwestern preferred Il. Milwaukee and St Paul pro-
fcrred u, Pacific Mail u, Atlantic Mail u, Canton 4,
Western Union Telegraph u. Erie was u higher.
Government securities dull but steady. Coupon
hyetwenties OF 1857 ISSUE closed q CHER; coupon
ten.fortes u, seven.thirtes, second series, b Ex-
press shares dull at decline of " Y per cent.
At tho second regular board the market dull and
lower In some instances Reading sold at OIL Y H. d.;
Michigan Southern s5I Cleveland and Ptsburg, s7Ts;
Cleveland and Toledo, 98k; Rock Island. o4h 943s ;
Northwestern 5sI; do. preferred, 1917 Pacific Mail,
Hay 113; Western Union Telegraph, 36x 36N.
During the rest OF the afternoon the market dull
| and there Was material change IN prices. At tho
close at hafpast five the following quotations wsrc
current;-Now York Central, li74 ll7,s; Erie, nix
~; Reading ok %; Michigan Southern, S. s54;
Cleveland and Ptsburg, SIX ssa; Rock Island. OAK
| a94h; Fort Wayne OK; Northwestern, 0sld a
6s1. do preferred, 7ojs 1ox; Pacific aail, 1l2ka
11s; Western Union Telegraph, asH aST; Ohio and
! Mississippi certificates, 2ss 2oX.
comparison OF tho prices OF tho leading speculative
tho rss regular board to-day and at the same
| time last year shows tho following changes
Jan. 2. 1857. Jan. q 1868. Higher Lo,er
New York Central. .li21 ll7h ~