The New York herald., 1868-12-17
FINANCIAL AND CONNER CIAL.
"WEDNESDAY, Dec. 1e-oP. M.


ness The market was exceedingly duh during the
day ana transactions few and OF small amount.
1here was an entire absence OF any excitement or
rumors OF q nature to influence quotations and the
prico dropped, seemingly, from the small amount OF
inquiry Cash gold vas plenty and from two TO
per cent was paid for carrying. The transac-
tens at tho Gold Exchange Bank comprised the fol-
nowing-Gross cearances $i4 900; gold balances.
1lsls,1s currency balances. So, ,027,2O6.
Money was shade more active to-day, and al
enongh there was nothing which could be called
Ptringency seven per cent was almost the uniform
rate on all classes Of collateras both with banks and
private lenders, the exceptions, any being for in
BONE instances, possibly higher rate. Shipments
OF currency South ani West 1t is said, still continue
There Is fair demand for discounts for grain and
produce operators while the market for commercial
baper u generally quiet OF nominal rates, to per
cent
Foreign exchange was dull and steady to-day at
che rates OF yesterday. We quote:-Prime bankers
sixty days, 10ox; short sight, 110. Sterngs sixty
days, commercial, losA . lo9k. Paris sixty days,
t.2o SICK; short sight, 5.13A 612K. Antwerp,
$40 SICK; Switzerland, $40 o SICK; Hamburg
e5x 3sX; Amsterdam, 4oss AZ; Frankfort COX
b Az; Bremen, 7sX 70; Prussian thalers 7lk r.
Governments were somewhat excited to-day In the
boards and the street. but the volume OF business
publicly transacted light. There was the usual
private inquiry for small lots for investment but not
20 any great extent The eyes Of all spectators In
governments at the present time are directed to
washington, and news OF Congressional or otherpro
Eeedngs upon the questions Of payment In coin, re-
sumption expansion other financial theory is
Anxiousy looked for. Tho resolution Of the Senate
Finance Committee, reported as q substitute this
morning for Mr.. Edmunds' resolution, THAT neither
public policy nor the national faith allows the re-
Hemption Of vetwenty bonds till the United States
ehall perform its duty by paying its notes in coin,
and that measures should be adopted to
tesume specie payments as early as pos
eible." failed Of any eject upon the mar
Het Its general spirit, rather that which is
Intended to be understood its spirit by the outside
public, was already known and operated upon. As
uor tho resolution ITSELF 1t is thoroughly noncommit-
ta and while giving expression to ordinary every
day aspiration it leaves the question OF It's
plshment entirely where it was before. AS the in
depreciation to be put upon the promise the party
20 redeem the 1ve-twenty bonds according to the
seter and spirt Of the contract it presents indef-
mite postponement without other guarantee than
that which already exists to the real meaning OF
this phrase not being in the future the subject Of as
much argument as the matter which called 1t forth.
The fact is 1t Is extremely improbable that the
present Congress win do more than fence this fnan-
Cial question: leaving the responsibility OF deciding
1t to their successors in Office. There are several
grounds which render this O correct assertion,
pmong them the fact that, new Secretary Of the
Treasury having to be chosen, 1t is unlikely that
Congress viii be prepared in sufficient majority to
fecommend one Of its members for that position by
giving him such leverage as the adoption OF COM
prehensive financial bill would give its author.
Besides, II selection for such position has been
already made it is equally likely that the future in
hna {xA.,
0nfettered accession to office, with liberty to
inaugurate and suggest whatever policy may be
most congenial to himself and his chief 1t is further
likely that while General Grants views on this ques-
tion are unknown, aspirants for ONCE or power to
dispense patronage both in the Senate and House,
Will hesitate to commit themselves definitely to any
policy.
1t win not, therefore, be hazardlng too much to
look for the continuance of the present disturbed
state OF the market for some time longer.
At the first call to-day '02's sold ut 11o, '64s at
l07K, o5s at 1o7zS and '67's ut l10l Transactions
ht the board limited to sales OF consols at
HOY 11ok. Large lots were bid for at this board
on buyers option OF thirty and sixty days-report
says for the purpose OF steadyng prices that large
holders might be enabled to sell without breaking
the market. The same parties were quite conserva-
tivc In bidding for cash or regular stock, which
gives color to this theory. The market closed
steady at the following quotations. at five O'clock
United States 6's 1884, registered 100k 1o9Is;
0o., coupon, 1l4X 1l47s; DO. 5-2o's registered
los,< 1osk; do coupon 1862, 11ox 11O2 do, do,
as64, I07 Q 107S; do, do 1865, 1o7A 1915; do,
DO, new, 1895, 1loH llo4; do, do.. 1867, ITO
a104; do. do. 1858, 1l0H 1105<; do, 1o-s0s reg
sstered, 102x 1903; do, do, coupon, 1854 1o5x;
do., o's, Pacific Railroad, eo1s o o9Iz.
Tho defeat of the Omnibus bill in the Tennessee
Legislature caused advance in the bonds OF that
State to-day, which sold at 64I before the boards
and on the nrst call to 60. other bonds ex-
hlbited marked improvement in sympathy with
this advance and more active inquiry. The follow
Ang the closing prices:-Tennessee 6's, cou-
pom, 6Sk 6o15; do, new, 6s5s 6SIi; Virginia 6's
,ex coupon, 65k 81; do. new, 81 IS; North
Carolina 6s. 65 90; do, new. 81 as2sl; Missouri
Hs, sex a. 90.
The stock market exhibited very little interest to-
day opening strong on most shares in the MORN
ing. continuing firm, with good inquiry, until the
.sfsernoon when II fell or and became dull with de-
rclinmg prices. This market Ia always the victim OF
certain combinations cliques rings, less
Uealthy and important, who are interested IN infiu-
sencing certain leading shares alternately up or
tdown with view to ultimate profit. The latest OF
these enterprises Is said to be bear combination,
formed for the purpose OF creating panic on the
stock Exchange by depreciating values and. IL ne
ccssary, locking up money to accomplish that end.
Ut d SAID Pacific Mail has been manipulated by
fhis party. who also cssayed the same move
bnont IN Rock Island, but failed. They are
said to be wealthy and have control OF several mil
Atoms OF dollars. Per CONTRA 1t is said the Erie clique
Are nghting this bear party and have entered upon
q bull campaign. the xed object OF which is to REIN
state Erie In Its old place the stock list. With
such forces arrayed In conflict there Is likely to be
lively times IN the stock market before long. The
following the prices on the street before ten
O'Clock this morning:-Pacinc Mail, 1lls a 1l2L;
New York Central, 1854 1861 Fort Wayne, llo& .
11oK; Michigan Southern, se,l seS; ROCK Island,
Io7X ioyx; Northwestern, 1879; do preferred, ss14
s7sH.
At the first open board Pacific Mail sold at Il2,
New York Central 1853. and 1c5L: st. Paul pre-