The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-15
Fresh Theories About the
January Rise"
The Speculation in Rock Island
and Western Union.
GOVERNMENT BONDS HIGHER.
Foreign Exchange Dull and Steady-Commer-
oial Paper Inactive Dealings in Railroad
Bonds Enlarging the Powers Of the Ma
tional Banks-The Weeks Export
Of Domestic Merchandise
WALL STREET, /

WALL STREET, I
TUESDAY, Jan. 14-8 P. M
, On 'Change to-day Cotton was in moderately
fair demand, but at lower prices both for spot and
Huture Flour and wheat were quiet but steady,
while corn was purchased to moderate extent at
slightly easier figures
THE EXPORTS OF THE WEEK.
The total exports Of domestic merchandise
from the port of New York for the week ending
january IA, 1873 were to the currency value of
4A454.42s.
THE FOREIGN MARKET.
The London quotations were steady and the
market quiet for everything outside OF Eries which
underwent an improvement o just ~ per cent,
comparing the closing price last night with the
closing price this evening, viz, AK with 4sX.
The London operators seemed indeed to know
what was going on in the Erie directory sooner
than their cOnfreres In Wall street. French rentes
advanced to 5427.
CONGRESSIONAL TOPICS.
The Congressional resolution authorizing the
Treasury Department to withhold payment for
services to the government rendered by railroads
In default upon their indebtedness to the United
States. was discussed In Committee of the Whole
to-day. The Senate passed bill authorizing the
national banks to make use OF their surplus profits
"a basis OF loans in the same proportion as is now
allowed to their capital stock The Senate Finance
Committee reported o resolution forbidding any
expansion Of the greenback currency beyond
93S6. 900. minority report was presented adj
verse to such limitation.
MONEY EASIER.
Tho relaxation In the money market was still
moro agreeable to borrowers, the highest rate ON
call having been per cent coin, which was paid
only on miscellaneous collaterals by the smaller
class of stock brokers. The general rates were
plain 7per cent on stocks and 7per cent on gov.
eminent securities, WITH toward three o'clock,
D further decline to per cent, the closing quota
lions being per cent. 1t is even said that
loans were made at as low as four per cent on the
Sidewalk before the close of business. Commercial
paper still moves only slowly the quotations tor
prime names ranging from to IL per cent dis
count. Foreign exchange was as steady as might
be, but dull. There was hardly enough doing in
fact to test the market.
GOLD FTTFUL-l12h 111T 112H.
The gold market was weak and heavy up to
within half an hour Of the time for adjournment
md the price declined to 111X, but during the
closing half hour the "bulls' took fresh courage
and advanced the sales back to 1928. AS natural
this reaction gave rise to various surmises that
specie would 60 out tomorrow, and that the
0reign bankers were selling Erie on London
account. all of which were hurried speculatons
In explanation of the sudden turn In the market
The Sub-Treasury paid cut $4,000 on account OF
Interest and 500 on account of redeemed five
twenties. The principal fluctuations of the day
are shown In the table,