The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-16
FINANUIiL And COMMERCIAL.

TllVllVUi1u IND UUIlMUtlUlAh
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WALL STREET I
THURSDAY. Feb 15-6P. M.
On 'Change to-day wheat was strong but inactive.
| The cotton market was steady.
MONEY ACTIVE.
| The money market was active at per cent among
the stock brokers, which rate was paid in coin In
many instances. The lowest rate governments
was per cent, with the dealings generally at per
cent. The Increased demand ID reierred to another
'ocklng-up' OF currency by spectators interested
In lower prices at the Stock Exchange.
Commercial paper was quoted per cent dis
count for prime double names.
Foreign exchange was steady on the basis OF
1921 1O92S for prime bankers sixty day sterling
and ITO a llO1S for sight bills.
THE GOVERNMENT PURCHASE OF BONDS.
The Assistant Treasurer at noon opened proposals
to sell nve-twentles to the government, ami found
tenders of $sl7l,95o at prices ranging from 1878
to 1000. The million purchased was obtained at
10S73 1o9.39-go!d at the time being 1925.
GOVERNMENTS STRONG.
The government list was strong. IN sympathy with
further Improvement In the London market, and
advanced q q u per cent, holding the to the
close OF the dav except for the new aves, which
after at I09 Tell or fraction In sympathy with
O corresponding movement on the other side OF the
Atlantic. The following were the closing prices:-
United States currency skies, 1145s q lax; do.
skies, 1881, registered, lax IFS, do. do, cou-
pom, 1l5H 1l5h; do. five-twenties, registered,
May and November Ill o 111H; do. do, 1862,
coupon. do., Ill 1I1X; do. do, 1864, do. do.
Ill a Il1l4 do. do, 1885, 90. do, 111I q
| 1l1H; do. io 1867, registered. January and
July, INK 1l1%; do. do, 1886, coupon, HOY
lloss; do. do, 1857, do. do, nix q
| Il2; do do, 1868, 90. do, l12H q 1121a; do.
Gxao nf QQJ f,1nna IN
do. DO. coupon, 1OsA 100; no.. ten-orties,
| registered, 1919 1o7K; do. do, coupon, 1l0X
o Ill.
GOLD sTEADY-l10K A 11O3S.
The gold market was unchanged In its general
features. and the days fluctuations were confined
TO limit OF per cent-viz, Hoy 11o7s. the real
business being at l1014. In the morning, In the
absence OF cable prices the entire dealings were at
110A ana IL OK alternately, but win the arrival OF
word from London that there was no alteration OF
the discount by the Bank of England. and that
our bonds higher the price fell of 10 1loa. but
reacted 70 1104 which thenceforward was the I'M
varied price, and was bid at the close, against
ITO 5-l6 asked. The In the loan market ranged
from per cent Tor carrying to nat for borrowing.
The operations OIL the Gold Exchange Bank were as
follows:-
Gold cleared. $37, 1855 600
Gold balances. 1,2O4,2 04
Currency balances. l,33l4oS
STOCKS DULL. HEAVY AND LOWER.
The stock market was dun, and In the afternoon
became heavy and weak, prices toward the close
falling OIL about one per cent for Union Pacific,
Pacific Mail. Ohios, Western Union. Rock Island
and WABASH, in which the wider nuctua-
tions Of the day occurred, the rest of the
list, while heavy. being only u u per
cent lover. In this enumeration exception Is
made OF Hannibal and st. Joseph. which nuctuated
Az per cent, chieny on cash transactions between
the extremes OF Az and AT. The unenviable char
acter of the operation attending the creation OF the
| new stock has induced many OF the respectable
brokers dissolve their connection with the specu
latIon for Decline and hence In forcing their prln
cpals to close out their accounts they were under
| the necessity OF buying cash stock at the lat
| ter's expense. further effort was made to
compel the receipt of the new stock to-day but the
| fact coming to the knowledge OF the President Of
| the Stock Exchange that gentleman announced
that any future tender OF the new stock within the
thirty days would subject the broker to expulsion
| from the Board. This Immediately put stop to
the perlpatetic notary and witness business, the
Stock Exchange being most the competent judge OF
It's own Jurisdiction In this connection beg leave
| to remind the public that we called attention over
| year .ago to the fact that number Of stocks
on the active or semi active list were unregistered,
| and some OF them so specified are as yet unregis'
tered la the case Of Hannibal and st. Joseph
| registration was demanded only last November but
| the request was unheeded and allowed to go unat.
tended TO until the rumor got aoat that the direc =
| ors contemplated q new ISSUE The Governing
| Committee made public the following resolution as
the result OF their latest action with reference to
| this question:
Resolved, That by the resolution Of January 81,
1872 adopted by the Governing Committee, to witt
"lhat until the transfer BOOKS of Hannibal and
st. Joseph Railroad Company have oeen reopened,
Cha, AnIu llnn urIfh
the OF the STOCK Exchange, no stock snail be
good delivery, except such az have been already
! issued ana counersIgned at the Office OF Duncan
| sherman IL CO,"i entered into ana became q part
| OF the contract OF the members OF this Exchange
| Resolved That the selection OF the place OF
| registry made by the Hannibal and ST. Joseph Rail-
Committee. and that the Hannibal and st. Joseph
Railroad Company be notified that the new Issue oil
arer thirty days notice Of said issue has given
aud satisfactory registry been establisnedi and
that meanwhile no certificates shall be good de-
livery In settlement OF contracts except those coun
tersgned by Duncan sherman Co., transfer
agents, and issued prior to Nos. ,434 for common
stock and 1892 Tor preferred STOCK.
The place Of registration not satisfactory TO the
Governors is the Tenth National Bank. which,
whatever its reputation now, was once upon time
O supposed vehicle OF the Erie 'ring" in monetary
and speculative matters. card from one OF the
directors OF the Hannibal and st. Joseph Railroad
offers an explanation Of the new issue, as folows-
In reference to the action OF the directors or the
Hannibal and ST. Joseph Railroad Company In
increasing the capital stock the following facts
are RECONSIDERATION the new direction came
into possession they supposed the property
of far more more value and In better con-
dItion than subsequent examination has proved.
careful survey ana estimate was consequently
made, and il was decided tnat at least $4,000, 600
would be required In order TO put the road IN good
working order, as well as TO provide for the matur.
| ing obligations or the company, larger portion OF
| winch sum would be necessarily disbursed during
the present year. II would seem that the old Board
1 rfh hnn n
gences early as Februayy2, 1871, when they pro-
vIded by new issue OF stock the means by winch
tine company could reduce the grade, make other
improvements, and also cancel the obligations he.
coming que to the State OF Missouri under the fol-