The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-06
GOVERNMENT BONDS STEADY.
The Prospects ----Are Prices Ad-
vancing Too RapidlyY
MONEY In GOOD DEMAND.
Gold Strong, with Symptoms
of a Rise.
WALL STREET,

WALL STREET
MONDAY. Jan. 90 p. NJ
The manner in which the stock market has been
manipulated to-day ID significantly suggestive OF
change IN the situation, which may occur at o
moment least expected. Up to this time "the
street, has been largely Influenced by the opera
lions OF individuals. Capitalists have borne the
brunt OF the night made In favor OF advancing
prices, and the good feeling encouraged by their
success has permeated outside classes to such an
extent that many thousands OF dollars were sent
into business circles to be invested on what was
supposed to be rising market The prevailing
question tonight however, is whether prices have
reached the top-for the altitude must be reached
some time-or whether there are still two, three
or four per cent in the active shares OF the mar.
ket Immediately present indications favor lower
figures and the remark is general that the advance
has been too sharp to be healthy. Whatever may
be the course of government, the action
OF the Treasury, the outlay OF greenbacks, the
strength of the banks, there is still local and
logical argument which the Wall street SPECTATOR
will always apply to the situation and its measure
win be the ability which he retains to move what
he conceives to be values in the face of existing
conditions. Caution Is one OF the chief elements
OF Wall street success, and there have been few
days during the last month when its propriety has
been more carefully considered than during the
last six eight hours II the market il about to
turn in the face OF the promises OF Congress, the
change means more or less Of disaster to q con-
siderable class. II, on the other hand, we drift
along for another pair OF days in the present STYLE
there il prospect of fair profit on short turns.
All the probabilities, however, favor . reaction,
and for no other reason than that
above stated-to wit, that the advance
has already been unhealthy rapid, fever
ishly stimulated and generally overworked.
A very peculiar feature Of the pending speculation
IL the effort made by various corporations to mag
nlfy their railroad earnings. These may be true or
false The public, who are most interested, nave
watched these things for themselves. and we have
little comment to make.
THE MONEY MARKET
was active at per cent on CALL with exceptional
rates at and per cent the ruling quotation
was at the higher rate The outstanding legal
tender quotation $s7e, 100000, being an increase
OF s21s This leaves $2 sss 900 OF the 900
still unissued. The loan certificates in the banks
early to-day were $970,0O0, but afterwards were
reported at $3.50, 900, decrease OF $42O, 00O For
eign exchange was quiet and firm on the basis OF
4-S259 AsS Tor long sterling and 4s61a As7 for
demand.
SOUTHERN SECURITIES.
Southern State bonds are pretty nearly
neglected, though sales Of new Tennessees are re-
7sH 81 Tor Old and so bid for new. We quote
vnginias firm old being 81 a 40; new, 40 bid; con-
sols, so q 81 and deferred, 10 II. Georgiss, DID,
are 81 Did, and sevens So bid. New North Caro-
linas are cnering at IL, and special tax at TO- Old
South Carolinas are "a bid; new January and July
ISSUE s a 10; plain skies Of Missouri, so 81; and
the Hannibal and ST. Joseph issue, $50.
THE UNITED STATES TREASURY.
The sub-Treasurer paid out $40a, 900 coin to-day
on account OF January interest. The total thus far
paid S. 197. ZOO, and $1,l5sOOo on account OF re-
THE GOLD MARKET.
Gold opened buOyantly at 1lls1, and subse-
Quently advanced to 111I. The close was made at
1Il1z. The indications In the Board point sharply
to an advance. II may not occur Immediately, but
before the end Of the month there are certain
causes underlying the market which it is more
than probable will be enforced in making
higher price. The loanng rates to-day have been
"a per cent tgold) per annum, and the carrying
rates l-32 1-64 of per cent per day.
The following is the Clearing House statement
Currency exchanges. $s7, 155, 654
currency Dalances..... 5,39504o
Gold exchanges. 11514,O25
Gold balances. ,............ l,122369
: GOVERNMENT BONDS
were strong and closed as follows United States
SKIES, 1851, registered 116,. ll6sl; do. do. cou-
pon III NIX; do fve-twenties, 1862, registered,
l1sx ia; do. do, 1862, coupon, 1881 q ia; do.
do, 1894, coupon, 1144 115; do. do, 1866, cou-
pom, lis 11511; do. do. do, coupon, January and
July, lis 115z; do. do, 1857, coupon, 1l6 116k;
do. do, 1868, coupon, 1l6 11614; do. ten-fortes
registered, 1121l ll2al; do. no., coupon, 113k
ia; do. currency Pacihcs, ia a Il41l: new fves
1881, l11h 1924.
THE FOREIGN MARKET.
The following are the late prices reported
by cable :-Consols for money 92 do. for ac-
cunt. 92h e2X; hve-twenty bonds OF 1885,
old, 1864 1861; do, 1867, 1917 1919; ten
forty bonds 1914 1o4H new fves 103k lO3x;
Erie Railway shares, ASK 43z; New York
Central shares, 90. American securities are re-
ported steady. The amount OF bullion which went
into the Bank OF England on balance to-day was
z53,000 Rentes at Paris 5sf Csc. The rate OF dis
count In the open market for three months bills
IL 3x per cent The following are the Continental
rates Of discount, as per latest mail advices:-
Bank open Market.
Paris. "a
Berlin. ................. ....-....
Bremen. .....-..........
Frankfort. ....................
Amsterdam :. ................ AZ
Brussels. ............s..
leIpZ1c..- ............. pa
VIENNA. 49,. ........-'.''.-. ~ g.,
St- feterSDurR... -.............. o's va
HIGHEST AND LOWEST PRICES
The following were the highest and lowest prices
OF stocks today -
n. Y. Central and Hudson stock.101x 1907
LAM LAM Isr ;'..''.'............'. ,o9n
DEL Lack and western. ........ ssg: seys
wabash ..-..................... 54H 53eS
MaIenI -, 80. =. ilsA