The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-08
FINANCIAL and COMMERCIAL
THE STOCK MARKET FIRM.
Speculation Still Working Out
It's Results.
MONEY I'm GOOD DEMAND.
Gold Unsettled Railroad and Govern
ment Bonds Firm.
WALL STREET,

WALL STREET,
WEDNESDAY. Jan. TO T. M.
The chief point Of interest to-day Is the value OF
stocks There is much which indicates strength,
and there is evidently a purpose ON the part of
capitalists to make Of this undertone that
favors higher market Prices advanced from n
to IN per cent. Pacific Mail, st. Paul, Western
Union, Wabash, Northwest common and Lake
Shore all took part in the improvement.
THE STOCK MARKET.
Pacific Mail opened at AZ leading the market
and moved steadily upward until it touched A.
Western Union ranged from 75H to 1857. New
York Central was Arm at 100 1908 99ss. Har-
lem opened and closed at 11ss4. Union Pa
cfc sold at 31H a 31S 31H 31H; Lake
Shore at sOA 81 a SIX s1A a SIX
Rock Island at 104 1O4ss 1912; Northwest at 90
Ga 59sl 614; st. Paul at 45t4 As 4sz5, the
preferred at II 70; Atlantic and Pacific preferred
at 10. Wabash opened at 525S, and sold up to 81
Hannibal and st. Joseph common was quoted at
291a, 2921 297s: preferred at 39n 80; Ohio and
Mississippi at 80 322S o S2X. c., c. and l. G. was
firm at 90 29A. Alton and Terre Haute preferred
is among the cheaper stocks, which, without being
as active some OF its neghbors, has quietly at
Jracted investment, and been purchased in small
lots, to be 'salted down." We are reliably in
formed that dividend will be declared or be-
than seven per cent, though there win be IA per
cent dividend then due.
THE UNITED STATES TREASURY.
The Assistant Treasurer paid out to-day $775, 900
on account of interest and $685. 900 in redemption
OF 500 bonds. The custom receipts to-day were
1914 000 The internal revenue receipts to-day were
$291, 900 The total disbursements on account OF
January interest to date are $9,6l50OO. The bal
ances in the United States Treasury at the close
OF business to-day were Currency, $4,000, 900;
coin, $s5, 500, 900; certificates, Sal 200, 900.
GOVERNMENT BONDS.
Government bonds closed quiet and steady.
United States skies, 1881, registered 116 q 116H;
do do, coupon 1867 III; do. hve-twentes regis
tered, 112a; do. do, 1862, coupon, 11S1 ia;
do do, 1854. registered, 114I; do do, do. cou-
pom, 114%; do. do, 1865, coupon, 1l59s 116;
do do. do, new, registered, ia; do. do, do,
coupon, new 1854 115H; do. do 1867, registered,
115H 115sl do do, do, coupon, 11614 do. do,
1868, registered, IFS; do do, coupon, 49, do.
ten-forties, registered, 11lh do DO, coupon 112
112K; fves, 1881, coupon, 11211 112A; six per
cent Pacific Railroad bonds, 1884 1l4I
THE MONEY MARKET
Money on call loans closed easy at and per
cent. The legal tender circulation has been re-
duced to $500. Foreign exchange closed heavy
at 4.S1a Tor prime bankers sixty days sterling
and 4.S5s for demand.
THE GOLD MARKET.
Gold declined from Ill q to 10Y, but towards the
close there was an improvement and sales
made on the basis of111h Ill Il. There certain
reasons, known perhaps to the Treasury Depart
ment, why gold should advance between this time
and the 1st of March very considerably. The rates
paid for carrying to-day were 1872 Z, 8, and per
cent gold. Operations OF the Gold Exchange Bank
to-day follows Gold balances, 81, 4O2 524;
currency balances 81, 1856, ISL; gross clearances,
Sal, 1928 900.
THE FOREIGN MARKET
The following are the late cable quotations OF
London priees:-Consols for money, 921S s2,4;
consols for account, 92's a 90 7-16; fve-twenty
bonds of 1865 (od), 1919 1O7Is; hvetwenty bonds
of 1867, 1913; ten-lorty bonds, 1O4ss 1855; new
nves, 1882 a 1885; Erie Railway shares,
43S 49,; New York Central shares, 925<.
American securities and consols closed strong on
easy money. The quotations in Amsterdam were
as follows: Central Pacific first mortgage bonds,
s11s Union Pacific first mortgage bonds 72s<
Union Pacific stock, 271s; Northwest preferred,
62T; st. Paul preferred, 62h. The bullion which
went into the Bank OF England to-day amounted
to fl2, OO0 The rate Of discount in the open mar
ket in London for three months bills is az per
cent, or per cent below the Bank of England
rate. 1t is the general opinion on the Stock Elk.
change that the Bank rate will be reduced to. NOR
row.
BANK SHARES.
Bank shares were almost neglected. The latest
bids are annexed:-Manhattan, las; Merchants,
IFS; Mechanics 1907 Union, 1881 City, $50; Fulton,
las Greenwich, 30; Gallatin National 1873; Leather
Manufacturers, 100; State of New York, 1867 Com
merce, no; American Exchange 1O7; Chatham,
100; Bank Of the Republic, 100; Hanover, 1903;
Irving, 100; Market ITO; Shoe and Leather, 1874;
Corn Exchange, 1l514; Continental, 10; Marine,
trail National, 95; Fourth National, 9s1S; Ninth
National, 100; Bankers and Brokers' Association,
SO German American, 924.
RAILROAD BONDS.
Railroad bonds were generally firm and in good
inyestment demand. The latest bids xere az FOL.