The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-01-29
The New York Money Market.


"Tne Foreign Exchanges are steady at lO95s
per cent. Tor 60 day bills on London, net cash,
and 1l0M for short sight bills and for cable
transferable latter having the preference, on
account OF the saving In the time and In the
Government stamps
"Money to the brokers worked easier than
yesterday, and most OF the tran sactions of the
day were al 9 per cent, and some of them on l5
ESQ days time; We renal k however: a good
ket at to per cent The Buu account at the
Stock Exchange is LARGELY in the ascendant,
and there is less fgcility afforded than usual to
lend out stocks 10 the use of the opposite party,
in place of borrowing money upon them.
THE Public Funds of the United states show
much dulness, and the Southern State Bonds
decided dullnees a. lower figures while. on the
other hand, the Railway speculation gains
additional strength day by day, aud seve-
raj of the Western loads are higher than for
ofi2a2% percent. on Harlem; per cent. on Hnd.
SOD River. and M@l per cent. on New York Gen.
tral, Erie being wholly neglected, and the great
bulk OF the common stock, including the gigan-
tic fraudulent over-lssues of March, October,
and November, 1868 being left in the hands OF
the Gould Fisk combination. It in rumored
that they Will defy the new rule OF the Stock
Exchange. which goes into effect on Monday
dealt in at the Exchange with some responsible
trust company or banking institution in this
city, and further notice Of at least thirty days
Of any purpose (and the object thereof TO in
crease the capital, either by new issues of
shares or of convertible bonds, What the
Boards of the stock Exchange will do In the
premises with the Elie STOCK Is NOT yet known
or surmised on the street. but the prevailing
rule"
From the Tribune.
money works steadily at per cent. on mis-
cellaneous cnllaterals and per cent. On Gov
ernments The activity at the Stock r Exchange
causes an active demand, but there is a full
supply al legal rates for all borrowers In good
credit Commercial paper Is unchanged at 10
8 per cent for prime names.
''There is q continued demand from German
bankers for Northwestern preferred for ship
ment, and still further heavy purchases are
reported. The entire country THROUGH which
this road and Its connections run Is peopled,
TO a great extent, with emigrants from Ger
many, and there Is no nation 80 well In
formed as to the wealth and resources of the
West as the German people. Tne fact that
they have become heavy purchasers of our
railway property shows that they have great
confidence in their future value, and opens a
new outlet for our railway property, of which
this is but the beginning. The English people
made large fortunes out of their Investments
in Illinois Central, and there is no good
reason why the Germans should not reap
equally large sums in Northwestern shares.
The completion OF the Pacific Road will give
the road largely increased business, and the
rapidity with which the territory through
which 1t Is built js being peopled bids fair. in O
few years, to make 1t one of the most valuable
OF the Western roads. is traffic In five years
shows an increase of S4l80 per mile aud so far
this year the road has gained havily in its
tonnage over 1868 The road has no floating
| de bt whatever, and has reduced its bonded debt
| during the past year $3.50 000."