The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-01-21

1oA. .;......... 1861 1905 P. M........... 1s5K
1 1G'Ss A MIMI. 1 3ss e. e. M... 1 1s
Inn 1861 $3.50 r. M.......... 1857
P. M............. 1851 8:i5 r. M.......... 1861
The carrying rate followed the course or money
and ranged from five to seven and half per cent
The gross clearngs were s47,a5s 00o the gold bal.
ances ST. sos ana the currency balances oo7
The foreign exchange market was dull after the
steamer, but rates rmer. prime bankers, sxty
days, being held stifhy at 1898.
Money was more active In the forenoon and during
business hours. There was a disposition on the part
OF money lenders to change the location or loans and
borrowers, who manifested great unanilnity about
making their engagements early, which gave the
market quite an active look. few exceptional
loans among stock houses took place ut coin interest
while the other hand loans which ont at six
per cent to good houses prime securities were not
disturbed. The regular rate, however, for the day
was full seven per cent. After three O'Clock there
was greater ease from the general filing
OF engagements in the early part of the
day, and balances were Offering ut six and
In some instances nve per cent. There is reason to
believe that parties who are short" OF stocks have
been influencing the market by Withholding what
ever funds they have within their control; but the
banks are too rich in currency to allow such q
scheme to work successfully. Quarterly statement
day Is long way on, the banks are guttcd with
tfonal bank notes. and they are only too ready to
pand their loans. The excess Is so great that they
are gradually exchanging them for three per cent
certificates at the Sub-Treasury. Commercial paper
was not SO active as on the previous day, and
buyers were more scrutlnous OF names. There was
no concession In rates, which ruled from seven to
nine per cent for prime short paper.
Governments were steady and shade "on.n The
early investment demand thought to have carried
n ha Oh nd
TO the circumstances which guide the gradual APP
probation OF these securities in the interval between
interest days. The market closed firm, with the fol-
lowing quotatons:-Unlted States sixes 1884, regis
tered, Ill 111k; do, coupon, 112 q 112k; do,
fve-twenties, registered, 1881 lOsh; do. coupon,
1862. 1872 49,; do, do. 1864, 1924 1o9h do,
do, 1885, ITO 110lS; do, do, new 1865, 1851
1oS,s; do, do, 1867 1855 1os2l do do, 1868 1881
100; do, tenforties registered, 1o4s 1o4s; do,
coupon, 1914 lo75S; currency bonds 1cO14 1o1.
There was less doing to-day in the market for
Southern State securities. The investment demand
mp to this time has been largely from our city savings
banks. The speculative influences at work in the
Tennessee Legislature and the charges OF bad faith
the part OF the authorities In North Carolina have
restrained dealings to-day, except for Louisianas
and Alabamas which were in active demand at
advanced figures. While fewer transactions
took place In the general market, prices
were strong, except for North Carolinas,
which underwent another decline OF between one
and two per cent. The closing quotations at five
O'Clock this evening were as follows:-Tennessee,
ex coupon, 6s1l 80; Tennessee, new, 67X a es;
Virginia, ex coupon, 5sh $50; Virginia, new. 60
cs; Georgia sxes 50 81; Georgia sevens, s2x
o.; North Carolina, ex coupon, 64X o e6; North
Carolina new, SIX az; Louisiana skies, 755l 76
Louisiana levee skies, 71k . ny; Louisiana levee
eights. IS a $50; Alabama Fights, sS a os; Alabama
nves. IS 68; South Carolina SKIES, II 70; South
Carolina skies, new, 20 a II; City OF Memphis, "a
o S..
The stock market was feverish and unsettled In
consequence OF the raid made by the shorts last
night II the signs OF the hour be any token these
frequent skirmishes between the .sDullsr and
''bearsr are the prelude to a more determined ana
obstinate contest between the respective parties OF
Wall street. The 'bears" are increasing in numbers
every day. Their ranks are being regularly re-
cruited from among those who, frightened at the
high prices OF stocks and believing the climax
reached, are selling out and going "short- One
great Clique the Northwestern, are VIGOROUSLY
'Hhort,r after being 'longr for nearly two months
They constitute the nucleus OF the forces now
raliyng in opposition to the 'bulls." The only OBJ
etaccs which they encounter In beginning the attack
n the abundance OF money. This article Is the am
munition OF Wall street. and as It Is freely to be had
the success OF 'bear" assault would be extremely
doubtful Prices with few exceptions, opened this
morning with better feeling than prevailed at the
close on the street last night New York Central led
tho list The ethics OF the law suit which Ia now In
progress with reference to the scrip dividend, show
the curious ideas Of justice rs they exist inside and
outside Of Wall street. In the outside world people
seek relief In the courts for damages to property
which they are the owners Of. In Wall street they
mr. n .hron hog aoat m fho
grievances OF their nelghbors, and lay claim for
damages to property which Is not their own. The
friends q the plaintiff In the Vanderbilt suit had no
Central stock. In the parlance OF the street they
we're short' OF It. The secret OF their socltude for
the welfare OF all connected with New York Central
10 that they sold what they did not possess. Mr.
Vanderbilt suddenly proved 20 the stockholders
that their STOCK was worth great deal more
san the "shortsr contracted to deliver II at. This
showing was ruinous to the sshorts,r and hence
The suit to convince the stockholders that they cst
mate their property at too high figure. The price
under free purchases this morning by those who
pin their faith on the Commodore's coat sleeve
rapidly recovered from It's decline, and went MP to
1e4k. Realizations by those who could not with
stand the temptation OF selling at this figure sent IL
down again TO the opening price. with. the abuu-
dance OF money at the close Of banking hours rose
again. but not to the highest point Of the day The
Northwestern stocks were hammered quite persist.
entity By the clique, and effective use was made OF
telegram from Springfield to the effect that the Illinois
Legislature was approaching the FINAL passage OF the
bill to reduce railway fares. The common stock
went down to SIX and the preferred to s5A. Pitts
burg was quite active, owing to an impression that
the Erie clique were purchasing In order to show
majority OF stockholders in favor OF the direc
tors and thus reverse the proceedings In Ceve
ND mr. 90 xtx. t. sots x,..t