The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-12-26

From the london Chronicle, Dec 10
II is almost impossible 70 speak with any degree Of
confidence what the money market may be, for
there many conflicting elements at work all having
different Influences that all precisely
what the money market ,s. Today fs3 600 In bar has
sold the Bank, and " probable as the demand
for god ON the Continent has ceased the gold bought
by private parties, In anticipation OF Continental de
mand, may be sent into the Rank
on the other hand II probable that more will be
sent 10 the United States; indeed, about eos 600
has been taken from the Bank to day for that pur-
pose, although many predict that portion Of that
which has been sent there will soon he returned.
r. that as il may most assuredly It will not be
turned SO long as the exchange remains under LOG,
70 fall, certain that gold viii be sent out from
this country 70 purchase them surprising, on the other
hand, that the secession movement attended with any
serious internal trouble, that the consumption Of
manufactures falls OF, then might have less activity
in trade here, and, consequence, the demand for
money for trading purposes win fall or On the other
hand should the with China be prolonged both
France England win have 10 send specie for the
payment Of the troops Then again large Continental
oars viii doubtless be required and when We consider
how much higher American securities in thisountry
than IN the United states y Is natural TO suppose that
large amounts will be here for realization.
With such contending elements, how IL II possible 10
predict what the money market may be week henccs
Even in the discount market there Is difference the
rate charged for discount One house will toll you that
they never had greater demand az the Bank rate of
exists that they have been dscouning freely at ~
some OF the Joint banks to-day have been discount
rg and yet the Bank of England and at some Of
the discount houses the demand has been active nj g.
Every day presents the money market In a aspect
and 80 org ~ this the case any expression " opinion
A. 20 what 10 may become may prove faacious The
above the precise 81 the money market TO day
There was less doing In American securities. with an
unfavurahlc reaction in prices Illinois Central shares
declined r. ~ u dis and New York Erie 10 al 35h
Prom the London Telegraph, Dec. IL
Increased inactivity has been apparent in the English
stock market to-day business having been partially sus
ucnded until further intelligence received from China,
and the quotations IN the meantime continue rather dc
dressed The recent cvportaion of gold 10 the United
states and the unsettled position q Affairs in that coun
~ also promote gloomy feeling among spectators,
gage transactions for fall II 10 true their dealings
~ very limited character but IN the absence 81
purchases for Investment the transfer books being closed
hey sufficient ~ control the eudepcy " values The
variation in the Funds to day only represented y per
cent but " IN adverse direction; and foreign Sc
curites alao closed with diminished hrmncss. Railway
harcs sti supported by tho favorable traffic and the
expec Of satisfactory dividends, continued steady,
and IN souc instances dealt in al slight advance.
business transacted in the money market to-day has
not Indicated n very active demand for accommodation
effect has been lately produced by the revenue col
lectious trade continues quiet, and the recent
taent az production N the manufacturing districts has
no doubt tended 10 diminish the requirements az the meI
camille community, very little business, however "
gotaed under AZ per cent the various banks and dis
count houses being enabled 20 obtain employment for
their notw outstanding the abundance ~ capital
and the cnmpeton which usually prevails IN monetary
circles There impression that supplies may be
qured fer the exy ndture China and that the
Ectatcn % the Turkish loan Paris may lead 70 fur
Tier Withdrawals. hut with regard % the latter
operation, my be Questioned whether the English
Inventors VII feel inclined 10 participate, after the