The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-03
GOLD STEADY.
Money Active and in Good
Demand.
Railroad and Government
Bonds Firm.
THE DIVIDENDS OF THE YEAR.
WALL STREET,

IOHOWSs-S0me
,ss in process OF payment on the part Of
various corporations. These dividends have
naturally sought place, and the very reason
able result has been an advance in railroad bonds
and stocks. The large sum thus permitted to the
country naturally adds to the buoyant movement
OF securities, and explains the flrmness that has
suddenly attached to the situation. The new year
dis subject Of much hope among spectators. and
che s0-called january prices' are already being
aorced. Outside OF the immediate results of o divi
deud disbursement, however, there are many ar
tical manipuations to explain the activity Of the
market. These will find their sequence hereafter
THE DEFAULTS
OF the present year represent only $17s 900 900 OF
nonds-that is to say, the interest on this amount
ds merely suspended. When we remember that
there Is more than 5OOO.OOO,OO OF Indebted
ness SO small o sum as the above will appear
as . mere bagatelle, especially in Europe.
The leading railroads which defaulted for
the first time on their January coupons to-
day were as follows Northern Pacific Canada
Southern, Southeastern and st. Louis, Chicago
'and Canada Southern. Chesapeake and Ohio New
York and Oswego Midland, Missouri, Kansas and
Texas; Atchison, Topeka and Santa Fe; Missouri
River, Fort Scott and Gulf and Cleveland, Canada
Southern and Detroit. few other less important
roads are also in default for the first time.
THE MONEY MARKET.
Money to-day loaned up to Jig per cent per diem,
but subsequently went or to per cent per an
mum and closed at that price. Foreign exchange
closed up dull at 4.s2H 4.s3 for prime bankers
90 days sterling and 4.86K a 4S7 for demand. The
outstanding loan certificates amount to $97O 900,
decrease of $25O,O0O. Prime discounts ranged from
z to 10 per cent.
THE UNITED STATES TREASURY.
the balances in the Treasury at the close Of bust
ness to-day, we're
Currency. $4,277,s51
Including coin certlncates. a7,54s,3Oo
Special deposits OF legal tenders. 36,77O,OOO
Outstanding legal tenders 378, 40I, 702
The increase Of the debt since June 80, 1873 is
S11, 4ee.ol2 1t will be noticed from the above
statement that the legal tender circulation has
been increased $1,e35.ooO, the highest amount
reached since the determination Of the Secretary
OF the Treasury. The customs receipts to-day were
S296,O0o. The total payments Of coin to date by
the government on account of January interest,"
were $6964, 900. The internal revenue receipts to-
day were $s4S,OOo.
TIE FOREIGN MARKET.
The amount of bullion which went into the Bank
of England to-day was $4,000. Consols for money
91z. 81 1916; consOls for account, 81 1916 92
Hve-twenty bonds of 1855, old, 1861 1861; i've
twenty bonds of 1857, 1O7H 1o7H; tenforty bonds,
lo4k 1O4,<; new dves 1O3H; Erie Railway shares,
Az ~; New York Central shares % q "a.
American securities steady.
The rate Of discount in open market for three
month bills is per cent or X below the bank
rate. Paris dispatches quote rentes at 5sf 4Oc In
Frankfort United States nve-twenty bonds were
e71 for the issue Of 1862 Amsterdam quotations
were as f0ll0ws:-Central Pacific first mortgage
bonds, s1x; Union Pacific first mortgage bonds,
Tx; Union Pacific stock, 2oa<; Northwestern pre-
.ferred, 5sx st. Paul preferred, 57st; Erie, 4e1l
RAILROAD BONDS.
There was a fairly active business in railroad
bonds. and prices were well maintained. The
largest transactions, as usual Of late in Ohio
and Northwestern consolidated gold bonds, which
brought IS. Central Pactfcs sold at 93h, and
Union Pacific hrsts at SIX s1ss ex interest. The
latest bids were "