The New York herald., 1870-02-16

1916 P. M......... lloN $3.50 +. Nj. IlsX llsN
r. A............ ll3A
Holders OF gold paid as s. AZ ana per cent to
have their balances carried. The steamer West
phalia TOOK out sss,Coo The City or Washington
nad no specie. The operations Of the Gold Exchange
Bank were as fo.luws:-
Ho,T $32 600, 600
Nnrr., l,2,s,sl2
currency balances. s..................... l,65y,IO3
TIE MONEY MARKsE
The abundance OF funds at bank ana In the hands
OF private capitalists Is still 1el In toe case or the
general money market. On call the government
dealers arc supplied with o. they can at tour
nve per cent, and some transactions were reported
to-day as low as three Per stock houses gen.
orally pay six per cent but where they make
point OF seeking lower rate and where their col
Iatera6 are good prime houses arc accommodated
st nve per cent. The really prime grades Of com.
merclai paper have been absorbed at to 6A and
per cent, so that present dealings are Ia the next
best grades at seven to eight per cent. Foreign OK.
cnange was irregular, anj there Ia considerable
competition among the lea1lng bankers to sell bills
frime sterling sixty days quoted 1881 ana sight
bills 109A.
GOVERNMENTS STRONG.
The rival speculation between the two parties
recently formed IN the government bond market
look decided turn to-day III favor OF the .bulsn
ana prices steadily advanced about an eighth per
cent at each board leaving The market at close
OF business about halt ger cent higher than at the
opening Tho frmer tone OF the gold market u.s.
sisted this movement especially as the foreign quo
tatlons were strong and active, and nve-twen-
Ties In London came 67Ss. The latest street
prices this evening were as foows:-Unitel
otaees currency sixes 1i5s ll12s; do. sixes 1851
registered, l17a4 lis; do. do coupon I175. 11Sh;
90. Ave-twenties, registered May ana November
ll4I ia h; do do., 1862, coupon do, lis 115h;
40. do., 1864, do ll4l ll4k; do do, 1865 1I4,s
1l4H; DO. do, registered, January and July II3sx q
llsH; do do, 1855. coupon, do. l13sS 1ls1s; do.
oo., 1857, do., 1l3M a Ill; do do, 1s68 do. 1l3a
III; do. ten-forlies registered, losH a 1oo1s; do
do., coupon, 1l21s 1l25s.
SOUTHERN SECURITIES DULL.
The market for the Southern Stale bonds was In
the main, dull and transactions confined to q
portion OF the list only. After the morning dull.
ness prices became heavy, the Tennessees assuming
some activity, and declining to 50L in street deal.
inga The Nashville papers OF tho 18th instant state
that tho kilograms that bill had passed the Senate
to sell the State interest railroads are without
any foundation The North Carolinas were strong.
and touched 48 for the Old and 26H for the new
The following were the closing prices at the last
Doard:-Tennessec, ex coupon. t8H 5t,1; do. new,
60A 81; Virginia, ex coupon, o215 e2Y, do new
% old; North Carolina, ex coupon, Az; do. new
70 bid; South Carolina, ex coupon, 81 80; do
new Tuyb 81; do., do. tOctobarl s5X ss: Missouri
sixes 9lH 0lgS do. St. Joseph, o1 " 9lgs; Louis.
ana skies. IL "a; d. lev 60 sIxes II; do do
eights. 80 e41s; Alabama lvcs, o.; do., e!ghts
04x o.
STOCKS STRONG AND ACTIVE.
The stock market was again buoyant and active.
The ease in the money market and the success
which has so far attended the bulish operations OF
the cliques seem have allaye ed oil distrust Of
decline and rendered the pubic reckless of the real
value OF investments At the Stock Exchange. The
steady upward tendency OF tho wn0lo market only
proves what has beea so frequently made manifest
IN Wall street. viz, that the current of speculation
having once set In little no regard is had for the
intrinsic merit OF what Is "bOught for rise.D It
took the market two or three months to get rid OF
the debris OF the wreck In September With the new
year the ciques took courage and laid In vast loads
Of stocks ut the then low prices. Since that time
prices have advanced ten TO twenty-ivs per cent
And now an invitation extended 10 the public to
"conie n." There is not cllquein the street which
could not sell at an immense profit at present prices
There has been little or no reaction since the move.
ment began. 1t is no part Of the plans Of these
speculative combinations to keep prices steadily ad.
yancing. They wish the public to buy, and then,
ut heavy decline. There Is little doubt that any
one with purse enough to stand such decline would
realize profit at present prices, because the clques
will before midsummer. again advance the
whole market. But small margins are likely
TO be wiped out by the intermediate drop
ping OF the market. Nor is 1t advisable
to make speculative saes for as the clques possess
the great bulk of the leading they would be
gratifed just as much BY such 'short" sales as by
purchases AS soon as they have discovered the
prevailing sentiment OF the public they are ready
TO take advantage OF II either way. The first signs
OF the unloading process were visible to-day In
Reading, which, after being worked up to 09H, was
splumpedn to the street by the armful, the trans
actions comprising at least 500 600 shares, which
were disposed OF to good advantage the price fall
ing only to 971I, because Reading s 80 reliable"
an old stock, and those who were reluctant to buy
above 90 eagerly bought at any fraction below
that figure until the clique got rid Of
their load to remarkably good advantage. The
general railway list late In the day stiened up
In the same manner. Northwest common being put
TO 74h and the preferred to 91s, while Lake Shore
was advanced to s9k St. Paul had Its stimulus
given it earlier in the day, when, dividend, the
common sold at os and the preferred at 50. sympa-
thetcaly the advance extended to Erie. which rose
TO 25a<, and 70 Pittsourg, which touched 102 Rock
Island was advanced to 1913 ~ The Vanderbilt securi
ties were steady and firm. Paclnc Mail, on renewed
reports OF an intended retirement OF portion OF the
share capital, rose to Ask.
CLOSING PRICES AT THE STOCK EXCHANGE.
The following were the closing prices OF stocks at
the last session OF the stock Excnange:-Canton,
671 a so; Cumberland, 35; Western Union, s4H .
35 Quicksilver, 1917 a IA; Mariposa, OK a OK; do.
preferred 2o7S o 2o1; do. certificates, 4s so;
Pacific Mall AK 42N; Boston Water Power loh
. 17h; Adams Express, o2A o o2h; wels-Fargo
Express, 20 2oH; American Express, se,S q aoA;
United States Express, 6Ols 81; New York Cen.
tral consolidated, e7K e7X; DO. scrip osK .
Sa,s; Harlem, 147 147s4; Erie, 2ok bid; do.
preferred, 42H Q A; Reading, oSh ssk;
Michigan Central, 121 o 1872; Lake Shore, ssX
s9 Illinois Central 1431s Did; Cleveland and Pitts