The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-01-30
FINANCIAL and COMMERCIAL.

FINANCIAL and COMMERCIAL.
WALL STREET,
MONDAY, Jan. 29-6P. M.
On 'Change to-day wheat was duh and strong
The cotton market was quiet at little improve
ment.
MONEY SIX TO SEVEN PER CENT.
The money market was active all day among the
stock brokers' who paid per cent currency and
coin for accommodation, although the dealings on
governments were almost without exception at
per cent, those az being more than onset by trans
actions at per cent.
Prime paper was quoted and 8 per cent discount.
Foreign exchange was lower, business being on
the basis OF 100 for prime sixty day sterling and
1905. for sight bills.
THE NORTHERN PACIFIC RAILWAY LOAN
We notice In several OF our Western exchanges an
mtmaton that, owing to the alleged sale OF North
ern Pacific bonds IN London 1t is probable that the
agents Of that line will feel justified in Withdrawing
the present 7-3O bonds ana substituting per cent
loan. In view or the fact that the bonds were
offered In London at price equal to less than 90 per
cent in our currency 1t is hard to understand this
matter; beg to suggest That the Northern Pacific
agents might give the quietus TO ugly rumors con-
nected with this operation by giving some expana-
ton. Is It, or Is It not the truth that the British
public have been offered these bonds at 90. which
they are attempting to fost on our own people at
pars The cable brought MS word the other day that
the Northern Pacific loan OF four millions sterling
($2o, 900, OOO) had been successfully placed by the
London agents OF the road. BY reference to our
London files OF papers we see that the bonds were
ofered at IS per cent, less per cent per annum to
those who paid cash instead OF subscribing in In.
stalments. What Is the explanation OF this tncon-
sistencyp
THE TREASURY PROGRAMME FOR FEBRUARY.
Assistant Treasurer Hihouse, having received
the official programme OF Treasury gold sales and
bond purchases for the ensuing month, has Dui-
letined 1t as f0llows:-
Bond Purchases.
Thursday February 1..................$l ,000 900
Thursday, February 15................... 100000
Thursday, February 29......".......... 1000, 900
Total. S., 1000, 900
Thursday February S 50 Sales. $1,000 900
Wednesday, February 2l................. 1000, 900
Iota. x2,OOO,OOO
The deviation from Thursday to Wednesday IN the
second gold sale OF the month is explained by the
former being Washington's Birthday. The occur
renee Of Leap Year has given February five Thurs.
days for Treasury operations.
GOVERNMENTS STRONG.
The government list was unsettled ana weak
early In the day In consequence OF sharp decline
IN our securities in London. where, as will be seen
by our cable dispatches, general depression was
casioned by less happy anticipations OF peaceful
solution of the questions before the Geneva Confer
ence in connection with the Alabama claims. A
rise in gold adjusted our market later In the day,
induced considerable activity and restored its
strength, particularly In the 1925 The new loan
was exceptionally heavy. The following were the
OIoc8n
116A; do. skies. 1881. registered, 114X o
1l4X; do. do. coupon, 1l5h q 1l5X; do. FIVE
twentes, registered, May and November, 10Y q
1l01; do. do, 1862, coupon, do, 11Os 110Z; do.
do, 1894 do. do, l1OH 11O1: do. co., 1865, do.
do, l11s 111X; do. do, 1857, registered January
and July 1114 111H; do. do, 1865, coupon, do,
1lOA a 11O7S; do. do, 1857, do. do, 112I 112h;
do. do, 1861 do. d. 1927 ll2; do. ves of 1881,
funded, registered, 1887 1895; do do. DO, coupon.
110a 11OE; do ten-forties, registered, IO9% ITO;
do. do, coupon, 11OsS 1lOzS.
GOLD sTRONG-1O9xA no.
The gold market which is still III the hands OF the
recently organized clique, strong the 1ortul-
tous Intervention OF the decline OF our bonds in
London, referred to IN the previous paragraph.
But parties after letting the price advance to
10, dropped 1t to 1895 on sales to realize their
profits, and in iurtherance OF a general programme
OF "milking the market' and keeping the short in
terest alve. The most sangune "bul" does not look
for any such uctuation In gold as Is usual in the
stock market. unless in the event of foreign war.
and hence, to make 1t profitable there must be a
good deal OF milking" done in o gold speculation
nowadays. Intermediately, however, this prospect
OF war was offered family In the sudden decrease
Of the estimation OF our securities In the English
market the price having receded nearly per cent
since last week; but despite this danger and re-.
ported further complication between England and
Russia their contiguous possessions Central
Asia conjured up in the 'three story back" OF some
Wall street newsmongcr) the clique were selling
from 1O9H to ITO and down again. The current OF
speculation was furthermore rppled by Sunset
the previous question, but voted down; and by Mr..
warehouses; $50 the Wall street bulletin had the
pentemans nance bill for increase Of three hun.
bred ana fifty millions In the legal tender currency.
The course Of the market is shown In the tablet
10 A. M........... 1O9X Up. M............. ITO
1905 A. MINI. lO9s 3 p. M............. 1927
HOO A. M......... 109A $40 |. M.......... 109h
IL M............... 109h 7. M.::.."....... 1o9X
p. M............. lO9A $3.50 p. M. .1o9x a 1899
In the gold loan market the rates for carrying
ranged from per cent to 7 per cent, COIN The ope
ratlons OF the Gold Exchange Bank were as fol-
lOws:-
Gold cleared. $54, I5S, 100
currency oaances... 1,727,5ll
OF 62s and 100000 on account of January interest
THE RAILROAD BONDS.
The following were the bids for the railroad