The New York herald., 1870-01-21
FINANCIAL and commercial,
WALL STREET. ,

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WALL STREET
THURSDAY, Jan. 20-6 p. NJ
Tnere was heavy and dropping market at the
stock Exchange to-day, while
GOLD DECLINED.
Inc Iacs having become quite apparenr that the
o''ques are on the snort side OF the market the
dealers in the Gold Room were without spirit for an
sdsance and though the bids at the government gold
s"io "ere quite numerous and Tor good sum. It
was suspected tnat most or them were In the
interest OF the "bears,n who sought in this way to
Keep the market from too sharp decline. As
IL was, the price, which opened at 121A,
rose to l21h, declining finally TO 1905, at
which II was freely offered, although no
sales TOOK place at 1908. The clearances
to-day only thirteen millions, showing the dul-
ness OF the market and the further work of the
clique in dlvertng business from the Gold Bank.
The carrying rate toward the close betrayed an
increase OF the short interest," descending as 1T did,
to four per cent although the relaxation is due IN
some degree to the greater ease IN the open money
market.
STOCKS WEAK.
The stock market was heavy and declined without
any special bear attack. 1t requires the steady
euing Of the large operators to keep up prices and
she latter have sold out and desirous Of seeing
she market settle before they 60 In again. The
feature was Rock Island, which ie to 1o41a
renewed reports OF an 0verlssue OF stock-sad TO
be from 10000 to 40.0 600 shares-wnich posi-.
tvely asserted in some quarters that the stock Ex-
ychanRe directed the appropriate committee TO
Investigate the charge It Will be remembered that
this same report was used few weeks since to
break the stock from 100 to at which point rhe
sfiques bought and turned 1t back to 10SA AS they
nave SOLD out at the latter point the story mp
aresn. The earnings OF the road fell on sos for
sne second week in January. Next In activity was
New Jersey Central, which declined to os,S, The
spectators having unoaded between 100 and
a02 Lake shore was stubborn, but yielded
20 S4H. The consideration OF the lease OF the Wa
Dash road has been Indefinitely postponed, the con-
tracts between the two companies expiring until
May next The Wabash directors have decided to
Issue new stock In the proportion OF ~ shares for
each 100 shares Of the present capital the holder Of
the latter to be entitled to take twenty cents on
the dollar. The par value OF the new stock Is about
TWO and half millions. The proceeds viii there
fore be about half million dollars which the direct
ors intend TO devote to improvements. II will be
remembered that an issue OF stock for similar pur-
poses was made about year ago. Western Union
was strong over the cessation OF the strike, and
Adams Express rose to e4N.
THE MONEY MARKET.
The money paid out by the government ror the
bonds purchased yesterday came upon the street
to-day and made loans very easy. the prevailing
rate all around was SIX per cent but before the
close OF banking hours lenders were freely Offering
large amounts at five per cent
Commercial paper felt the relaxation in call loans,
and the rate Of discount for prime double name
acceptances was quoted at TX to 10 per cent.
GOVERNMENTS HEAVY.
The government market sympathiZed closely with
Rold opening weak with 1t, becoming nrmer at the
neon board when gold advanced to 12lh, and de-
al no lnca Of ht,ciu
following were the final street prices: United
states currency siXes ITO 1lO]s: do. skies, 1881
registered, l177S 117X: DO. do, coupon 1I7,s
117X; do. fve-twenties. registered, May and Novem-
ber, 115 l151s; do. do, 1862, coupon do, 1l5I
715'i do do 1854, do. do, 1l5 li5s do, 1856, do
do. do, 1l5 115s; 40. do registered January aud
July, 13sI 1895 do do, 1865, coupon, do, 1875
ia; do do, 1867, do. do, ia 114S; do. do,
1855, do. do ia l141S; do. tenfortes registered
1llH Ms; do. do., coupon, liz 1l24
THE STATE BONDS DULL.
There was little doing In the Southern state
bonds, and that little was conlned to the Tennes-
gees and North Carolinas. The new North Carolinas
Vere strong ana inclined to activity. The following
were the prices at the last board:-,Tennessee ex
coupon "a bid; do, new, 472s AZ q; Virginia, ex
coupon, So: do, new, 6014 BID; Georgia skies, 81;
DO. sevens yts; North Carolina ex coupon. Al bid;
do, new. 25 251s: Missouri skies, s7A sS do,
Hannibal and st. Joseph, So bid Louisiana siXes 20;
do, new, 81: do, Levee SKIES, e5k 80; DO, do.
eights, n bid; Alabama eights, 81 e5; DO fves, ss
bid The South Carolinas were not quoted.
CLOSING PRICES AT THE STOCK EXCHANGE.
The following were the prices Of stocks at the
fast session Of the Stock Exchange:-Canton, 54I
NJ; Cumberland, S915 q 81: Western Union, 3sal
sss; QUICKSILVER 20 i5;s i;; Iarpdsa & sx, 40
preferred, 1873 1917; do, certificates 46; Pacific
Mail y[.
Adams Express, 624 e2,z; weils-Fargo Express
1sI 2oh; American Express 352G 3s7s;
United States Express, 5s bid; New York
Ceatrai consolidated, o2ss o2I; DO, scrip,
s17s a SIS; Harlem, 1881 1897; Erie 23K 231;
do preferred, 40 bid Reading, 94& 943a; Michigan
Central 117h BID; Lake Shore s4ai S4S;
Illinois Central, 1887 1897; Chicago and North
western, 70 q 1871; do. preferred, 81 S74; Rock
Island, 1855 a 1O5A; Milwaukee and st. Paul, 1914
731a; do. preferred so1s s6s; Toledo and Wabash
xS1s b3aS; DO. preferred, IS; Fort WAYNE S7si
s7yx Alton and Terre Haute, 2s "a; do. pre-
ferred 55 90; Ohio and Mississippi 25g. Z6;
Delaware and Lackawanna log u 1o7; New JERSEY
Central % q s94 Chicago and Alton, 143 bid; do.
preferred. 145 bid Morris and Essex So SO;
Hannibai and 81. Joseph, 1to 49, Dubuque and
Sioux CITY, 10Sls a 1oa; Columbus, Chicago and H.
diana Central, 171a 17z5.
THE EXTREME FLUCTUATIONS
The highest and lowest prices OF The leading spec
ulative stocks were as follows:-
Highest Loscest
N Y Central and Hud. consolidated. e3 92h
New York Central and Hudson scrip. s5a osA
Erie. ........................ 24a 23,i
Readlng .......................... wa ~
Lake shore. ....................... 90 s4ta
WABASH 80. ...................... % oL4
Southwestern sw ester preferred SIX So
ROCK Island ,;.. iS.