The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-01-28
THE NEW YORK MONKY MARKET.
pespatoh o TAe Euenina TelsarapA

Oe6putoh 70 INC bOe0bFD I6t<Jfoph
NEW YORK, Jan. 2s.--Money continues easy at
4@6 per cent, the bulk Of transactions being at
per cent. Gold has been strong at 12l a912lx; 1t
is now 1918. Governments dull and steady
Stocks opened steady, but fell Off at noon. Pacific
Mail is strong at 40A44019; Rock Island 1127s@1l3
Governing Committee to rescind the acon tssen 1ne
day or two ago forbldding the Stock Telegraph TO
quote Rock Island stock. The vote was large Que.
The Governing Committee Is in session considering
the request
NEW YORK, Jan. 2s.-stocks unsettled. Money
easy at Co. Co. puu per cent Gold, 1915, Five.
iibH; do. 1866, do, 1853; do do, new
ll4E do. 1851 l14X; do. 1868, has; 1O4Os 1l9X
pany, 651G Cumberland preferred. S4JS; Consoli-
dated New York Central and Hudson River. s5;
sssan E a1 csnra ssaane Mosnn dSss soaPSe4
Illinois Central, 1876; Cleveland and Pittsburg 90 I;
Chicago @ and Rock Island, 1l2S Pitts6urg and Fort
From the NJ Y. Herald.
'The effort TO maintain the speculative interest in
the gold market was less successful to-day under the
generally calm aspect OF the political horizon, the
Improvement in hve-twentes at London, and despite
Senator hortons amendment proposing sixty live
millions additional currency. Those who are inte-
rested in the clique movement having put the price
to 1925 were content to realize at the advance and
then left the market to fall back, which it seemed
quite willing to do when deprived OF their support
The result decline to 121 at which large bids
were pending at the close.
throughout the earlier sessions OF the board the 6s
touching ITO. Wnen later In the day, the price of
gold declined to 121H, the market yielded about q
quarter per cent. on the more speculative issues.
| SAT the Government purchase OF one million OF
bonds to-day the offerings were over four millions.
''The tendency OF the money market to extreme
was again strongly marked to-day in the excess
OF the supply over tie demand. The highest rate
among the stock houses was six per cent while
| the great bulk OF business on stocks was at nve.
he Government dealers were a6undantly supplied
| at four TO five per cent. The banks are so ever
| whemed with deposits OF national bank notes that
they offer loans in them free OF interest for hve,
seven and even ten days. where the borrower agrees
10 give his certified cheek or the equivalent green
backs at the return OF the loan.
| "With the decline In the rate on call there has
been steady absorption of the better grades OF
camille paper and the demand therefore, is now in
| excess OF the supply. Prime double name accept
ances at sixty days TO four months current at
to o per cent, and ind ready buyers at 90 per
cent The slandstill in general trade does not iu-
duce the writing OF much new paper, and hence the
double disparity at present between the demand and
| supply. Single names are not 80 easily quotable.
but are dscounting at from to 16 per cent.
The country banks have been large buyers whia
the note brokers have encountered great deal OF
competition in the city banks, where customers are
very readily accommodated since the overplus OF
| national bank notes has enlarged their deposits.
The fact seems to indicate that our banking institu
tions free OF disrust concerning the stand
ing OF our business men than might have been ex-
pected after the reverses of the fall and winter.
| ''Forcgn exchange was lower, the leading
| bankers making decided concession ON the prices
| Of the recent advance in rates."