The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-27
FINANCIAL And COMMERCIAL
The Stock Market and
It's Variations.
MONEY ABU ~ DAN a.
ABUNDANT.
Gold, Government and Railroad Sc
curities Firm.
WALL STREET,
MONDAY, Jan. 26-6 p. N.

he .natnral causes OF Improvement as for In
stance, Michigan Central and Delaware and Lacka
wanna Is not encouraging. yielding movement
Il observable. Even in the face OF the promises OF
st. Paul with reference to dividend some time
this week that stock has dropped more than one
per cent Nor are other fancy shares opeying
with their usual sympathy and promptness the
gns of immediate strength Impetus is evidently
wanting The manipulators are not on hand.
The banks are full Of money; call loans can
be made on excellent terms, but somehow
the favorite stocks, which only few days ago set
AL the street wild with expectation refuse to Sur.
The condition illustrates the doubt which we have
often described. To illustrate Western Union
opened at 76a<, moved TO II, receded to 763I and
closed at 765s 76a4. Pacific Mail was the object
of much rumor, but showed little change rang
Ing from 417s Az to 45s AS Az at the close.
New York Central began work at 1885, sold up to
1857, down TO 1o3,s and closed at the opening
price. st. Paul moved downward from As to 46ss,
recovered TO AK and closed at AN the preferred
stock sold at 72Z Union Pacific sold at 80 IS a,
declined to a. but at the end was again steady at
s5x a5A. Lake shore started at 50, advanced 10
e2L S23 S27s with considerable nuctuatlon be-
tween these figures, and finished at s2h.
As recently usual, this stock was active
among the leading shares. wabash declined
from "a to 53k subsequently moved to 54x and
closed at 81. Ohio and Mississippi changed from
BAY to 33%, but rallied 10 344 34s. c., @. andI.
G. was generally steady at 3lA q S13s, the close be-
ing made at 314. Delaware, Lackawanna and
Western was more than usually speculative and
advanced from 1928 to l042s, the interests Of the
coal strike having not little 10 do with its move
ment Michigan Central opened at s6k, but sud-
denly developed a strength that carried it to 92s,
although the close was at 4 per cent on. Harlem
6oA COZ a cox a COY 6o7s; New Jersey Central,
lol5t 1029t; Hannibal and ST. Joseph 32H a 3lA.
GOLD
to-day was generally steady and unattended
by much speculative demonstration. The opening
was at 11lH, the highest price 1l1X the lowest
il1I, and the close at 111h. The carrying rates
were s, and per cent.
OPERATIONS OF THE GOLD EXCHANGE BANK TO-DAY.
Gold balances OBSERVATION-DISCLOSURES. s., lse 4lo
Currency balances. NEUTRALITY-SUSPICIOUS.. 1,3ls83l
Hross ciearances. ID o0o
The following is the Clearing House statement
Currency exchanges. $a1 1857, 2S4
currency balances. .......-...-...' 407665l
GOid exchanges. 1l,5576T1
1oio balances. 1Sso 4o9
was abundant to-day at rates ranging from to
per cent. The banks find not little difficulty In
placing loans, and large amounts were left over.
Commercial paper is quoted as heretofore from
70 per cent. Foreign exchange closed dull, with
business at 4.s3 for prime bankers 60 days. ster-
lung and 4.so1 for demand.
THE FOREIGN MARKET.
The foreign market indicates consols as firm, but
American securities as weak and lower. The rate
Of discount in the open market for three months
bills is l16 per cent, which is Tie per cent below
the Bank OF England rate. The amount Of bullion
gone into the Bank of England on balance to-day
ko e AZ Dar{o tnha
francs 37H centimes. The following the late
London prices:-Consols for money 90 a s216;
consols for account s2h; fve-twenty bonds OF
1865, DID, 1Os do, OF 1867, 1917 los: ten-lorty
bonds, 1851 new fyes, 1929 1929; Erie Railway
shares, 434 43&; New York Central shares,
o4A 95. Amsterdam quotations are as follows -
Union Pacific first mortgage bonds 743s; Central
Pacific first mortgage bonds, s3a4; Union Pacific
stock, 500; Northwest preferred, 60; St Paul pre-
ferred, 62H; Erie, Az.
THE UNITED STATES TREASURY.
The customs receipts to-day were s366.ooo. The
Internal revenue receipts are s6o4,0oO. The ndica.
lions that the receipts from this department
VIII amount for January to something like
$4,000, 900. The balances in the Treasury at the
close OF business to-day were :-Currency
$685. 725 special deposit of legal tenders for the
redemption of certificates of deposit s45 O3O 600;
S4 49, 200; outstanding legal tenders $751; 1877
The decrease in legal tenders amounts to s2l 1858.
The Assistant Treasurer paid out to-day $685. 900 on
account of interest," and $4,000 in redemption OF
ave-twenty bonds.
GOVERNMENT BONDS.
Government bonds closed firm at the
following uotations:-United States skies, 1881,
registered, III. 1l7i<; do. do, do coupon,
1881 a 1855; do. nve-twenties, registered. ia;
do do, 1862, coupon, 114Ss 1147s; do. d., 1864
registered. 1861 do. do, do, coupe 167s do. do,
1866, registered, 1161a; do. do do, coupon, 117k
ants do. do, do, new, registered, 116A; do do,
1866, new, t16. 1l624; do do, 1857, registered,
H7A; do. do, do, coupon, 117T lis; do.
do, 1853 registered, MS do. do, do, coupon,
l17x N.Y.; do. ten-fortes registered, 1l3; do.
do, coupon, 114%; fves, 1884, coupon, Il2I
113H; do. six per cent Pacific Railroad, lis
116h.
SOUTHERN SECURITIES
are. generally frmer Tennessee skies, old, ex-
coupon, were sold at SO "a; new at s0k sO1. The
following are the late ds:-Mssouri skies, Hanni-
bal and st. Joseph ISSUE 81; Tennessee skies, old,
soX; do. do, ex coupon, 625s; do. d. new, s0H !;
do. do, new series, 621; Virginia skies, DID, Az
DO. do, new, 40; do. do. consolidated So; do. do.
deferred, Il; Georgia SKIES, 20; do. sevens, en-
aorsed, rs; do. do. gold bonds IS; North Carolina
SKIES, DID, January and July, IS; do do, North
Carolina Railroad, January and July, IS; do. d.
do April and October, 34 DO. do, DO, of January
and July, 25 do do. no., or April ana October rs
North Carolina Funding act, 1866, q; do. do 1865
20; do, new January and July, 16; do. d. special
tax, class l. o. do. do DO, class 2, 81 do. d. do.
class g. saf South Carolina SKIES, 25 do do. Janu-
AIRY and July, o; do do, April and October, Is; do
Funding act 1866 IA: Arkansas skies, Funding act,
30 do. sevens Little Rock and Fort Smith issue,
%; do do, Memphis and Little Rock Railroad, 20 {;
do. d. Little Rock Pine Bluff ana New Orleans.
Is; do do, Mississippi, ohio and Red River, 16;
do. DO, Arkansas Central Railroad, 16.
RAILROAD BONDS
were strong and higher The investment demand
shows Improvement nearly every day, and the
natural result OF good management economy and
increased earnings On the older lines is exhibited
in the attraction which draws to this class OF
securities so much of real money, We note the
following changes at the late bids -
York on Il. 49,. n