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
l09H for sight bills.
THE NORTHERN PACIFIC RAILWAY LOAN.
We notice In several OF our Western exchanges an
ntimaton 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 7-30 bonds ana substituting per cent
loan. In view OF the fact that the bonds were
offered In London at price equal to less than 90 per
cent in currency 1t is hard to understand this
matter; we beg to suggest that the Northern Pacific
agents might give the quietus 10 ugly rumors con-
nected with this operation by giving some explana-
ton. Is It, or Is 1t not the truth that the British
public have been offered these bonds at co. which
they are attempting to foist on our own people at
pars The cable brought MS word the other day that
the Northern Pacific loan OF four millions sterling
ESQ., OOO 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
oered at IS per cent, less per cent per apnum to
those who paid cash instead Of subscribing in In.
stalments. What Is the explanation OF this incon-
sistencyf
THE TREASURY PROGRAMME FOR FEBRUARY.
Assistant Treasurer Hillhouse, having received
the official programme OF Treasury gold sales and
bond purchases for the ensuing month, has Dui.
letned 1t as follows:-
Bond Purchases.
Thursday, February 1..................$l,O 900 900
Thursday February Is. ................. 1000 900
Thursday, February observation-disclosures. 900
Total So, 900
Thursday February GOA Sales. ., ooo nm
Wednesday, February 2l.................. 100000
IOtM. 81, DOC, 900
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 a sharp decline
in our securities In London. where, as will be seen
by our cable dispatches general depression was &C.
casoned by less happy anticipations OF peaceful
solution Of the questions before the Geneva Confer
ence in connection with the Alabama claims.
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
closing prces:-Unlted States currency skies, lis
1857; do. skies. 1881. registered 114I
1l4T; do. do, coupon, 115H q 1l5X; do five
twenties, registered, May and November, HOY
1l0Z; do. do, 1862, coupon, do, 110ss 11Ok; do.
do, 1854, do. do, HOY 11OZ: do do 1865, do.
do, L1S 111X; do. do, 1857, registered. January
and July. 1llA 111K; do. do, 1865 coupon, do,
1l0A 10Y; do. d. 1857, do. do, 112T a 112,x;
DO. d. 1868, do. d. 1929 112s; do fves Of 1881,
funded registered, 1oS% 1921; do. do DO, coupon
ITO 11oE do ten-forties, registered, 1922 ITO;
do. do, coupon, 1903 10Y.
GOLD sTRONG-109X A ITO.
The gold market which is still IN the hands OF the
recently organized clique, strong on the fortu-
tous intervention OF the decline OF our bonds In
London, referred to in the previous paragraph.
But the parties after letting the price advance to
ITO, dropped 1t to 1O9s on sales to realize their
profits, and in furtherance Of q general programme
of "mking the market' and keeping the short in
tereSt alive The most sangulne "bul" does not look
for any such fuctuation In gold is usual in the
stock market. unless in the event of foreign war
and hence, to make 1t profitable, there must be
good deal OF milking" done in 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
Asia conured up in the 'three story back" Of some
Wall street newsmongcr) the clique were selling
from 1O9A to Ito and down again. The current OF
speculation was furthermore rppled by Sunset
COx's cuban belligerency resolution, forced on by
the previous question, but voted down; aud by Mr..
warehouses; $50 the Wall street bulletin had the
gentemans name) bill for an increase OF three hum
bred ana fifty millions In the legal tender currency
The course Of the market Is shown in the table,
10 A. M............ 1922 Up. M............. ITO
1905 A. M......... l09X P. M............ 1927
HOO A. M......... 1927 $40 7. M.......... 1923
p. M............. lO9X $3.50 p. M. .1O9x a lO9X
In the gold loan market the rates for carrying
ranged from per cent to per cent, coin The ope.
lows
Gold cleared $54, 1888 900
Gold balances. OBSERVATION-DISCLOSURES. 1,536532
The Sub.Treasury paid out SIS, 900 in redemption
OF '62s and 100000 account of January interest
THE RAILROAD BONDS
The following were the bids for the railroad
N... v.-r VA, c,. 1860 a m