The New York herald., 1873-12-20
Prices Off and Speculation De-
pendent on the Future.
CONGRESS, THE KOH-I-NOOR.
Are We on the Edge Of u
Bear Movement.
MONEY VARIABLE T..
Gold Lower Governments Weaker
Railroad Bonds Not Firm.
WALL STREET,

Railroad Bonds Not Firm.
WALL STREET,
FRIDAY, Dec. 1916 p. M.
The financial situation to-day was so generally
dull that 1t Is scarcely necessary to present
than the routine report OF the market. IL is to be
noted however, that the depressing influence oil
rumors produced more than usual results, and in
the stock market especially a sharp decline was
felt. 1t was announced, for instance, that there
would be fresh issue OF Wabash stock and that
the company would be unable to meet the
payment OF the January interest These
statements caused decline Of about 2N per
cent and a sympathetic movement elsewhere.
Later, however, it was published by some of the
directors that the company has interest falling
due until February. and that they have no idea OF
passing the interest OF any Of the bonds.
WESTERN UNION,
so long leader OF the market up or down.
likewise came in for its share or speculative action
Upwards Of 1000 shares changed hands. The
decline was from 74H to HH. The sales were
evidently in response to an arrangement made for
the purpose of depressing prices to
figure which would enable certain parties
to come in and advance the market.
Had the market been left to ITSELF and had there
been no discovery OF preconcerted movements, 1t
is probable that the price of Western Union would
have dropped to 68 or even lower This stock was
the objective point OF the situation 1t sustained
the.market by sympathy. Pacific Mail by sympathy
likewise sustained the cheaper lines OF followers
although 1t marked decline OF per cent-irOm
3S16 to 361. Lake Shore opened at 76 and closed
at TAX. There were also many free sales resulting
from time contracts winch fell due. This fact led
to
THE GENERAL DEPRESSION
Nevertheless sJanuary rise" is talked about,
the basis OF argument in it's favor being the ac-
tion OF Congress and what is said to be the deter
mination Of majority OF the members OF the
body in favor of further outlay Of the currency.
The greatest activity In stocks to-day was shown
in those already quoted and ir Union Pacific, To-
led0 and Wabash, St. Paul and Northwestern COM
mon. There was, however, a fair distribution OF
business among other shares The change OF
prices will be found below.
THE GOLD MARKET
was under the influence OF unusually depressing
causes, the sentiment of the Board evidently
being not hopeful in favor OF an tnnatiOn Of the
currency. A considerable sale OF long gold that
had been held by Spanish speculator, in anticipa
tion OF further Cuban complications, was also
made, adding TO the weakness OF the market. The
price opened at 1l1s, from which it steadily de-
clined to 1l0T, the closing price. The carrying
rates were T. 6 and per cent, gold.
| day were as fOllOwS:-
Gold balances 81, 1877 S23
Currency balances. es..................... 1904, 404
Gross clearances. 4011S,000
CLEARING HOUSE STATEMENT
currency exchanges. So6O3l l5I
currency Dalances.... 3,479933
i God excnanges.... ................... 1884 $50
Gold balances. ....................... 9o2, 1852
THE MONEY MARKET
| Money was active during the afternoon; but,
after loaning up to 1872 1.16 per diem declined to
per cent currency and gold At this rate the aver
| age business OF the day was transacted. Foreign
exchange was heavy and lower, closing at lOsh
1885. for prime bankers 60 days sterling and l095
| for sight.
| The loan certificates outstanding now amount to
S3,S05,000, decrease since Thursday OF $S5,000.
THE DRY GOODS MARKET.
The dry goods imports at this port for the week
ending to-day were $s7S l52, and the amount mar
keted $97s,526. The imports for the corresponding
period of last year were sl,9oo74s, and for 1871
S2,0ls,ss9.
THE UNITED STATES TREASURY.
The internal revenue receipts were $349374
The customs receipts were $299,0O0 The balances
in the United States Treasury at the close OF busi
ness to-day were follows currency, 1927, 400;
special deposits $50, 73O 900; coin certificates,
SAL 629 400; outstanding legal tenders $685. 21s
The Assistant Treasurer paid out to-day $4,000 on
account OF interest and $4,000 In redemption OF
FIVE e-twenty bonds.
GOVERNMENT BONDS
Government bonds were lower In the late deal
ings, and closed weak in sympathy with gold.
The latest quotations were as follows limited
States skies, 1884, registered, lis 116 do. do. do
coupon, 11SZ 119h; do. ive-twentes 1862 regis
tered, l13; do do. do coupon, 113L lis; do. do,
1864, registered 113; do. do do, coupon, ia l15k
do. do. 1865, registered, l5; do. do. do, coupon
114i5 I15a; do. do. do, new, registered, 113I
l13a do. do. do, new, coupon, III ll7h; do.
do, 1867, registered. ll4S; do do. do, coupon
ll71s 1lsL; do do, 1868, coupon, III; do. ten
orties, registered, ITO l11h; do. do coupon,
1111s; do. lives OF 1881. coupon, 1111s per cent
bonds OF Pacific Railroad, 1925 a 112s<.
THE FOREIGN MARKET.
The London market presented no unusual fea-
lures for comment. The rate OF discount in the
open market for three months bills is 4 3-I6 per
cent, or 5-16 per cent below the Bank OF England
rate The amount OF bullion Withdrawn from the
Bank balance to-day is f25, 900. In Paris rentes
were quoted at 5sf Ike The following are the
prices in Amsterdam -Union Pacific FIRST mortgage
bonds, II; Pacific shares, 263s; Northwest pre-
erred, SO. The final London quotations are as fol-
lows :-Consols for money, 91a q 81 1915; consols
for account, 92 a 90 lilo; fve-twenty bonds OF 1855
old, 94h a 94l4; fve-twenty bonds OF 1867, 94ss q
94s. ten-forty bonds, %; new hves 911; Erie
Railway shares, 36ss a 36a4; New York Central, 77a
a IS.
SOUTHERN SECURITIES
There was very little activity In State bonds
Missouri skies brought 93 and Tennessees 81. The
latest bids are Missouri skies, Hannibal and st.
Joseph issue, 30; do, Asylum or University, s9h;
Tennessee skies, old, soh; do, new, 81; Virginia
sixes, old, SO; do, new 40; do, consolidated,
5on; do, deferred, Oh; Georgia skies, 65 do.
sevens, new, So; North Carolina skies, old. "a; do,
North Carolina Railroad Company, coupon, 80; do
Funding Act, 1866, II; do. do, 1868, II do, new
| IA; South Carolina skies. "a.
BANK SHARES
Bank shares were bid for as ioows:-New York,