The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-12-04
FINANCIAL AND CONNER GAL
FRIDAY, Dec. Sc p, N

FRIDAY, Dec. 3-oP NJ.
The general business world exhibits quarters
rather more activity than have witnessed for some
time past. The import Of dry goods for the week IS
81 3es $50 against $544 300 last year and the whole i'm
portaton has been thrown the market In the sugar
market there been good deal Of activity within the
past few days Merchants report that there is general
though light business doing. The revival in tea and
other groceries slow but steady and all parties concur
the belief that next spring shall have large and
lucrative trade. Money is unchanged in value, the oer-
ngs bank and at the discount houses being very light
but the conservative of the bankers expect TO be
able in the of few months, TO exchange their
present loans stocks and securities for
discounts or mercantile paper. The large shipments
of specie that have been made TO the South are
calculated enable that section Of the country reap
the fullest benefit from its abundant and lucrative crop,
and consequently become large purchasers in this mar
kot next spring The West alone does not respond to
the general tendency toward revival Until next years
crops harvested, the Western buyers viii not count
for much in the Eastern markets. Exchange on Europe
is not active, but rates steady at 10e1x y for
bankers.
Al the Stock Exchange today the ruling feature
st the dulness which has ruled SO long 10 the
absence Of legitimate commission business, tina brokers
are almost without exception obbing in stocks and very
frequently the natural OF the market is mpaded by
sales of hundred small spectators for the RISE
who content with or two per cent proht and in
ike Manner fall arrested by the closing Of short
for thousand shares, sold in lots of
one or two hundred, by brokers who have nc
commission business to occupy their minds or fill
their purses The prevailing impression among these spe-
culators is that at some future perod-he fsvoa date
January nex,-a confding and generous public will re
enter Wall street with large amounts of money AMI
confidence boundess ever for the purpose OF buy
ing such unquestonable and reliable securities as Erie
Railroad stock, Cleveland and Toledo In order TO be
prepared for this clearly probable event number Of these
SPECTATORS have purchased stocks of various kinds and
borrowed money on them four five cent, pro.
missing themselves sell them whom thu public makes
is appearance profit which, considering the risk and
anxiety mind incurred but be considered very
moderate. On the other sdc other spectators, equally
driven operate their account by the want OF
commission business, selling gtocss the probability
4 OF with Mexico being declared early next
| week. These, like the former, are prepared
| 10 he content with very moderate profit :
is doubtful whether they could resist the temptation OF
making two per clear OF all these specuations and
and hopes and fears the public remains thus
far upconcerned spectator leaving the bulls and bears
Of Wall street TO prey upon each other and strengthening
every day the conviction which is taking tn sound
aiion past that the public has lost faith in railway pro-
perty and railway men, and that vigorous as the specu
atve appetite among the American people II now Graves
and hopeful food than raj way stocks.
The market for State securities shade lower this
morning. decline Of = PEI cent established in
Mssouris and vrgnas. United States nves, Of the
| Issue, were also u lower. CALIFORNIA; have fallen
| to 81. The business IN bonds very light
Illinois Central rather lower. Tie coal
| stocks we're both higher Delaware and Hudson
rose TO par, and Pennsylvania Coal to So Among the
railway stocks New York Central continues u he the Ia
vortc OF bulls ana bears The quotations Of the day
made but little change in lis price, though closet at las;
dull and neglected al decline Of u per cent Erie held
| UP pretty fairly til the afternoon, whcn pause
curing in the speculative buying, il declined per
| Reading was duh throughout the day and closed y
lower. The heaviest decline Of the day in Pacific
Mail which beginning 10 be thrown the market by
stockholders dissatisfied with the management Il will
he remembered that before this stock knocked
down by internal quarrel II we remember right, to
abou, 30, and quite recently, since the last dividend
paid, and when the company had reserve OF a Million
| II sold at -. There may be some grou1d for
/ ,hc complaints which arc made by parties who
| bought tho stock II order to get Ia per cent
4 dividend. and now end themselves Obliged 70
\ make shin with ten; su; undor the circumstances,
making due allowance for the unadjuscd negotiation with
Vanderbilt and tie possibility that any day, Of the
| steamers-~hich are unnsarcd-may be lost.
well understand tho desire 81 the management u keep
large surplus on hand me decline the to-day
i was equal TO per cent.
The Western stocks generally duh and lower to.
day. Gacna declined x, Rock Island 4 pr cent Michi
gan Central y. Michigan Southern steady. Illinois
Central better day tho late decline undoubtedly
excessive. Hudson River Z. the third mor,gages
enc u the best securities the markctadvancod per
cent The closing prices Of the day s9y.
90; Central, s3s u Pacific Mail, DIV Z; Erio Is a
i ~ Hudson, aas q; Reading, 5l1s "a; Michigan Cen
irai, So. Il; Southern preferred, 5,2 !. Panama
1907 4 Illinois Central, 7sz "A; Gaena, az. !.
Toledo. 81. 80; Rock Island, Cy. C2ss The market
/ closed dull.
The exchanges at the Bank Clearing House this morning
| were si5 ,2s4 "a ~, and tho balances s75s,9so AZ
The business Of the sub treasury day ollowr.
luai rr'ilHs.. stfs19t w
frofn bvvD W
loai l5s Toy ~
ioA4 pAAh1's* osslNsNi ~
Tho following the usual monthly tables a tho trade