The New York herald., 1871-11-29
FINANCIAL Ind COMMERCIAL.

WALL STREET,
TUESDAY Nov. 2S-6P MI
on Change to-day wheat was heavy but steady.
The cotton market was unchanged.
THE RxPoaTs OF THE WEEK.
The aggregate amount of exports, exclusive OF
specie. from the port Of New York for the week end
ing November Is. 1871, was $5,o42.547.
MONEY EASIER.
The money market was easier. and The rate on
call loans, which had been seven per cent In the
earlier hours OF business, declined 70 per cent
before the close OF banking hours many borrowers
on stocks being able to get accommodation at the
lower OF the last mentioned figures.
Prime paper was steady at previous quotations.
Foreign exchange was nomlnally unchanged. but
late in the day large sales OF prime sterling occurred
at 1881. IL was rumored that these bills had been
made against the negotiation OF loan OF 9i, 600, 600
In London by the Pennsylvania Railroad.
THE NEW LOAN AND THE CALLED BONDS.
kilograms from Washington received this atter-
state that Treasury checks for six millions OF
gold payable December, have been mailed
to parties IN New York IN payment OF
an equivalent amount OF the fve-twentles
OF 1852 sent in for redemption. subsequent
dispatches state that so far, Treasury checks for
eight millions OF coin have been sent to various
parts Of the country, inclusive OF New York. This
Is the Grst development OF the progress made by
500. .0Oo, 900 Of ve-twen,es named for redemption
on the lst prox. The bonds are thought TO be
largely in the possession OF the Syndicate, but nu
merOus bankers and private parties have
seen fit to send their bonds 10 Washington
direct ana the eight millions above specified
Is doubtless the amount 30 far examined,
found correct and redeemed. The exact result OF
the complicated movement into and on: OF the
Treasury OF coin and bonds Is apparently beyond
the ken OF the shrewdest In wan street. whether
the whole thing will eventuate IN simple exchange
OF old six per cents for the new fves or in large
transfer OF Treasury gold to the street In exchange
for an excess OF bonds cancelled over those sub.
scriDed for remains 10 be told III the future No one
Is able to predict anything now. The Wall street
markets are keeping step by step with such develop
ments as transpire with reference to tins Important
movement, and hence we find, as first result
GOLD wEAK-l11 11oss.
The early feeling In the Gold Room had been
steady, bur became firm when the government, by
refusing to buy bonds, implied possibility that
there would be sale OF gold tomorrow, the price
advancing from 1l0N to Ill But the market here
became weak on sales by parties who had the
Washington news Ia advance OF others, and evcntu'
aiy went or to no 0-l8, especially as IL was also
pressed with sales Of gold against the reported
negotiation OF foreign loan by the Pennsylvania
Raroad and with Sill other sales in view Of vague
rumors that a number Of subscribers to the new
nves would forfeit their two per cent deposit and
default on the balance Of the pay ment the effect
being to compel the government to disbursc coin for
the redeemed bonds without receiving any return
nom the new five per cents. We give the rumors
for what they worth. Doubtless they are greatly
exaggerated; but should here ana there q stray
subscriber fail to make his remaining payment, the
Treasury would be much less rich in coin, neces-
STATED as it would be to keep It's promise to redeem
the full amount or scaled" 62s. The course OF the
rln 10 ahn In a