The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-12-24
FINANCIAL AND COMMERCIAL.

MONDAY Dec. e3-oP.M
me cola market opened this morning q adecins OF
II from the closing price Saturday and Afterwards
remained steady Tho extreme range Of the day prior TO
tho adouument Of the board having been from 13s 10
1884,. with the closing transactions AZ 1885 Suisse
queniy became stronger and the quotations. advanced
70 1885, 1881. Tho 'short' interest is enormous,
nearly all the operators In the being bcnr' an tho
borrowing demand correspondngiy active. Loans
madc "aat" and ct rates varying from two to SIX
per cent psr and % 70 lilo per mt per diem In
favor Of the lender OF tho coin. Tue gross ccarnss
amounted to s52 the gold balances to sI3o9275
and the currency balances TO s7sae7d The nmness Of
the rates Of foreign exchange avors the expectation OF
continued shipments OF specie on scale correspond
ing TO those OF the last fortnight and the present low
range OF the premium is calculated 10 mako these larger
than they otherwise would be. Tho bears In god
are arguing that the effect OF The disbursement
Of tho thirty millions OF gold duo to bond
holders from the government on tho LIST OF Januss,
airy will b. TO cause further decline in tho
market; bat IL We may judge by tho extent Of
tho 'short' interest this payment has already been
than discounted. II the price OF gold likely
10 remain permanently as low Il Is there would
be FOR dissatisfaction with tho result OF the
efforts OF Che spectators for fal but as II is highly
probable that 1t will range considerably higher Tor at
least two or three years to come this artificial depres
sion unsettles values without serving any good pur-
pose. Stability in the value OF tho currency
It's relation to gold what the interests OF che coun
demand and Is OF the great OWLS OF irredeem.
able paper currency that its value exposed to dctua
tons promoted by speculative Ths imports OF
gold and silver at the port last weok amounted to
SIS. s2l.
Money In supcrabunda,t supply At six por cont to
stock houses 10 good credit aud Iarse amounts were
loaned In not a few instances at Hve AT tho same
time few exceptional transactions for small amounts
were reported at per cont which rate the banks
stl ask from borrowers on miscellaneous col
IateraIs, although they arc Wiling to take
a rule The discount line Ia quiet and rst class
paper passes freely in tho opcn market at
7as per cent, Of the husOess being at TX. Ins-
rior signatures arc, however, out OF favor ana is
therefore difficult 10 soil any but the best quaty oven
at high me favorable character OF the last bank
and the prospect Of largely Increased supply
OF oanable funds arising from the payment Of the Janu
sry dividends inspire confidence among bank officers
and private money lenders and there is pressure
to lend in consequence II Is generally expected that
tho supply OF money will DO SO large In January
that call loans will DO made mainly at Eve per cont Tho
Western exchanges are Notwithstanding the active de-
maud for loans and discounts In tho Western cities,
slightly In favor Of this CITY, and those OF she South
little against that there are no considerable remit
tAncss being made TO that section; nether Il probable
that there will be- owing TO the smaness OF the cotton
crop and the low price Of tho staple The trade Of Tho
coantry Is % much depressed that tha demand
for money he mercantile community
b vary light and lenders disrusfu y ~ bat nrss
caass honsea There only nsld for IL smp!oyme&G
under such circumstance and that Is In speculation
the Stock Exchange. Hsuos while trade continues 70
droop speculation 10 likely 10 bscome active under the
stimulating influences Of concentration Of idle capital at
this ccnre and with the opening Of the Nov Year bns
ness In Wall street will receive fresh impetus hsw.
ever Il may be elsewhere.
Tho statement Of the associated banks Of this city for
the week ending Saturday shows. when compared
with that Of tho previous week. decrease OF g. lo2 lo2
in iesns 7ao in specie and $9s.s $40 In circulation
and an increase Of $sss,333 In net deposits and
s. l2s legal tender notes The totals Of the last