The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-12-12

Tho gold market opened heavy II l37 and declined 70
1SoK following which there was an adsance to 1917
pnd relapse to i37A. The closing quotation 1874
There an sctve borrowng demand for coin conse-
Qusnt in part on the SLOW working Of the new gold
Clearing House. which opened for the Transaction OF
Business to-day for tho first time Loans were generally
made at about Liz per cent premium in favor Of the
{. lender but In some Instances much a. $40 was
paid The secret manner Of the organization Of
shs Clearing House Association Is generally un-
satisfactory. Very few persons know anything
about Il, and the names OF Its directors
Asvs not bscn published It's nrst days business has
proved 10 bc less Of asonvenence 70 the gold brokers
khan generally expected but practice makes per-
rsct. It's machinery may soon work moro smoothly To
show the dsrust with which 10 Is regarded BY those not
On the secret Of is organization may mention that Its
check for nifty thousand dollars drawn upon the Bank
bf New York, declined . deposit by customer
pns OF tho largest banks simply because nothing what
kver known By the bank officers about this associa
son the parties connected with H. An ofcial state
meat Of liz aAn should therefore BE- published by the
dlrvesorA 50 that shs public may know Of This
mysterious Clearing House, which, n well conducted,
nay prove real convenience ana sbviats the risk
bending the delivery Of gold in every tapsaction BY
nesssugens for By she new stsa The balance Of the
Says Transactions only has TO b. 70 the Clearing
Asuss by each Of m msmbsr the latter making I'll tins
sxchangss according the lists handed ID By thsm
Tue foreign exchange market 10 nrm and bills are
sssha Bankers bills on England, . axy days.
~srs quoted the close as10sx Iosk; three dAys
40 allol commercial biIls, los loe franca ~ mxy
aays, SIS 6lss; At three days. ak sAlA Bills
a Berlin, "a q TAX; on Bremen, 7sx SsA; on
Ssnkfort, AKA an; on Amsterdam, Il . tlk?oa
damburg, ss4 "; ON Antwerp kisx as.1ok. Con-
adsacs In foreign credits Is again strong owing 70 tne
sasy condition Of monetary as abroad The statement
~ the Bank Of England for ths wesk ending November
D showed that although there had been slight increase
ta the demand for loans and discounts the nar Of de-
posis both government and private, had bssn 70 heavy
thai the reserve increased 70 The extent q Ge4o s37
by which The total raised 70 nearly ten millions Of
pounds sssriing A money accumuases In the Bank
the excess q nc ID circulation is Of course gradually
veducsd- The increase In the coin and bullion Of
sos.sc7 higAy hvorAsIs and more than third Of
shk probsbiy attributable 70 renux Of coin from The
UroviBccs Tho private deposits have increased 70
6if as - their gradual augmentation Of late being
o. part due 70 pAymsut Into the Bank by the lquIdH-
ssrs Of failed csmpanies 1hs Bank Of ENGLAND now
n ssroasss position than usssi = the figures Of
enc rstusa referred 10 SHOW n No ,ura
- the Cossssns W. and equally rssssunns
axns - ssms weeks pnos 10 ne M s<saswens 70.
sssvs1 here. ~ balboa In The Bank q France had
1rslssily dsxsassd Ia amoust while ths alsc,ssss m.
kssd - sAwsssrsss alvsacs 10 shs rate II discount
ftsm ,srss " csst u wtIes \ Gov wss4s. wss u