The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-22
FINANCIAL AND CONNER ClAL.

TUESDAY, Dec. 2l-6 ?. n
Gold underwent further decline to-day, touching
1884, which Is the lowest figure touched since Sep
| tember 1862. The market has become 80 accus-
| toned TO the dropping tendency OF the premium
that the fall 10 SO low point produced little or no ex
element, and was taken quite az o matter OF course
IL VIII thus be that whatever effect was pro-
duced by the suspension OF the gold sales announced
for to-day and next Friday has been more than
counerDalanced by the offer OF the Treasury 10 pegh
The payment OF the January interest," without rebate
| on and after Friday next The speculative ieeing
Tor rise Is perfectly tame. 1t will be remem-
bered that the cques, at the outset OF the month";
basng their calculations upon the fact that the Trea
sury after making all the payments that are due ny
the beginning Of the new year. will have but
small reserve on hand, essayed bull movement
which carried the price back to l24, but they made
the mistake OF not taking into account the addi-
tional fact that the gold, II not in the Treasury
would be In the market, and thus continue to de-
press the premium even more than 1t did morally
by Its presence IN the government vaults. The
short interest has been quite large ever since the
reversal OF the movement from Ia and has pre-
vented sharper decline, for the reason that gold
operators content with smaller percentage Of
profit than Is the practice In stocks The rate for
carrying to-day was heavier than yesterday but yet
sufficiently below the market rate for money TO ind
cate the presence Of continued good short inter.
est ranging US it did from SIX down to Tour per
Cent The decline to 1191 induced great deal OF
covering, while toward the close the importers were
buying for remittances and the foreign bankers to
cover coupons, under which there was an eventual
recovery to 1904 which two figures were the ex-
treme quotations Of the day. The money market
easy at six to seven per cent, the former being
the general rule call loans with pledge Of govern
ment cOllaerals and the latter the almost eXcep-
onal stocks. particularly IN oil new engage
ments. The stock houses however, are SO content
to get money at seven that standing loans at that
figure were not q rule disturbed. The movements
OF currency with the interior are without special
feature. There Is steady demand from the West
and Southwest, but the shipments In those drec-
tons are fully Offset by the receipts from other
points In the INTERIOR Again, the operations OF the
Treasury for the week In the purchase Of two
millions of bonds tomorrow against the sale Of
q million OF gold on Frlday-which latter Will not
count In the bank acknowledgements continued
ease and Wall street acts from anticipation as much
as from actually. Discounts were quiet There
was perhaps o little more doing, II anything, prime
acceptances passing at from nine to twelve per cent
but with wider range for single names. Bankers
sixty day notes were quoted as low as eight per
cent. Foreign exchange was heavy, and declined to
1885 for prime sixty day sterling, but became firm
at this point under good demand for tomorrow's
steamer principally, 1t Is supposed, for remittances
against coupons on the nve-twentes held abroad.
The government bond market was quiet and steady.
A fair investment demand was reported among the
prominent dealers, which kept prices Arm, despite
the decline in gold. State bonds were active for the
leading speculative State securities the Tennessees
North Caroinas and Mssouris being the features
Off I'M Tor nIinao tha AM
that the State agent in this city prepared TO
pay the January coupons in gold coin, were buoy
ant and rose to 81 bid for the new bonds.
The stock market was strong, but dull. The pub
lie are rather disposed to await the ADVENT Of the
new year aud the development OF the financial
policy IN Congress before taking any decided posi-
ton in the market Il will be seen by our Congress
siona reports that Senator Warner has introduced
bill for the redistribution or the currency. mea-
sure OF this kind up last winter, but was easily
defeated by the national bank 'rlng." The cliques
seem to fear no confectionery measures at least,
whatever the Western members may do IN the way
OF imitation. They have the market to themselves
Just now, ana are the only customers OF the
brokers. They are forming the market for the cam
paign In the spring, and hence are laboring hard to
usconnect gold and stocks In this they have sue
ceeded The severance OF the two markets. which
was just percepuble yesterday was quite marked
to-day the decline in gold TO l19A producing very
little effect at the Stock Exchange. The argument
used is that stocks have had shrnkage equivalent
to decline to l15 for gold, and hence the energy OF
the bull cliques. The following were the closing
prices OF stocks at the last Of the Stock Ex
characterization, Al a 90; Cumberland, 255s II;
Western Union, 31A 81; Quicksilver, lax
Is; Marlposa, TX 81; do. preferred, Is
15A; Pacific Mail, As a 4S4; Boston Water
Power, 1as1 14k; Adams Express, 60 a 81;
wells-Fargo Express 2oA 2ok; American Ex-
press, so 40; United States Express 49h 500;
New York Central, consolidated, s7ss S7A; do.
scrip, slH s1% Harlem 1872 n 1856: do. pre-
ferred, 1875 bid; Erie, 22h 22h; DO. preferred,
ss a 40; Reading soh bid; Michigan Central lex
divident, IL bld Lake Shore, s6ss S5A; Illinois
Central 1872; Cleveland and Pittsburg, SO 81
Chicago and Northwestern, 69% 69A; do. pre-
ferred S2k a S291; Cleveland, Columbus and Clncn-
natl, "A rs; Rock Island 1861 o 1861; Milwaukee
ana st. Paul, 1874 1871; do preferred, s5a4 49,
Toledo and Wabash, 50h bid; do. preferred, 10 bd
Fort Wayne, SO q S6h Alton and Terre Haute,
24j1 o 80; do. preferred 55 81; ONO and Mssls-
sippi 237s 241S; Delaware and Lackawanna, 1861
l071s; New Jersey Central $50 80; Chicago and
Alton, 14l 14la; do. preferred, 140h q 142;
Morris and Essex S5A s59i; Hannibal and St.
Joseph preferred, 1o7 10; Dubuque and Sioux
City, 1919 100; Columbus. Chicago and Indiana
leading speculative stocks arc shown IN the follow
day.
highest LONGEST
New York Cen. and Hud. Consol. oSi4 SGh
New YORK Central and uud scrip. 80 $685.