The New York herald., 1872-12-28
FINANCIAL and COMMERCIAL.
Another and Seyerer Squeeze" in
the Money Market.
RELAXATION AT THE CLOSE.
The Coinoident Causes Of the
Scarcity Of Money.
The Snow Blockade and The Detained
Mails and Expresses.
THE SPECIE EXPORTS TO EUROPE.
The Gold Market Higher, with an
Eventual Relapse.
RISE IN THE CURRENCY SKIES.
The Refunding OF the National Debt and
Suggestion for Mr.. Boutwell,
and Congress.
ANOTHER DULL DAY IN STOCKS
RISE IN THE CURRENCY SIZES
The Refunding OF the National Debt and
Suggestion for Mr.. Boutwell,
and Congress.
ANOTHER DULL DAY IN STOCKS
The Board to Adjourn Daily at Three
O'clock Until January Q.
WALL STREET,

.
On 'Change to-day cotton attracted rather more
attention, ruling steady for spot," bat nrmer for
''futures." Flour remained quiet and steady.
Corn was also quiet and unchanged, while wheat
was IN improved demand and decidedly better.
THE DRY GOODS IMPORTS.
The total imports OF foreign dry goods at this
port during the past week were $977,472. The
amount marketed during the same period was
Ss21 ,so5.
THE GOVERNMENT GOLD SALE.
The advertisement OF the Treasury Department
20 sell o million gold eicited bids for total Of
s2sooooO the prices offered ranging from 11l.2e to
Jl221. The million was awarded at 1875 1921.
FOREIGN MARKET.
The curtain was lifted to-day, and revealed the
condition OF the foreign market The quotations
Of United States bonds are steady and almost pre-
csey as they were before the holidays. In consols
There is a wider difference in transactions for
money and those for the account, quotations In
she former case being u lower indicating nrmer
money market; explained in the fact possibly,
that next Monday Is
SETTLING DAY
Ut the London Stock Exchange-an occasion the
approach OF which attended by more or less activ
ity in money. Eries opened at 4ssl, but fell or to
A9L on reported failures among SPECTATORS but
rallied to 4s,8 at the close. The Bank Of England
French rentes came steady at $3.50, the Bank Of
France showing a trivial decrease In its bullion
account, viz 600 francs. The signs ali indicate
that the foreign stock markets are as dull as our
own.
MONEY is STRINGENT AND IRREGULAR.
The money market was again quite stringent,
che scarcity being felt more keenly ON account or
the delay In the arrival Of remittances from the
interior, occasioned by the snow blockade. 1t Is
are made to New York, In the natural current Of
she domestic exchanges, not to speak Of the con-
signments OF money 10 this centre to pay the nu-
merous January coupon and interest dividends OF
the various railway and other corporations and
enterprises making New York the headquarters OF
their financial business. All these thousands OF
money packages and drafts are belated and de-
tanned in
THE SNOW BOUND MAILS
and express pouches throughout the country, and
their absence is peculiarly aggravatng at this
time, because the banks expect a call at any mo-
Ment from the Comptroller OF the Currency, and
they are naturally anxious to be in the best trim
possible against q demand for a statement or their
condition.
1t is also the season when contraction is the rule
In the process OF settling up accounts for the year.
AS consequence OF these several influences the
pinch in Wall street OF most incisive charac-
ter, the rate on call, which opened at y per cent
running as high as 4 per cent in addition to per
cent The fear OF tight money had stimulated early
borrowing, SO that after the climax had been
reached, at quarter before three O'Clock, there
was
A SUDDEN RELAXATION
down to per cent coin before quarter past three
O'Clock part Of which is referrble TO the dsburse-
ment by the Treasury OF currency in payment for
bonds bought yesterday, while some OF it was also
due to overborrowing on the part OF brokers who
had provided themselves too literally In the earlier
part Of the day. Commercial paper was still dull
and nominal at the quotation 10 q IL per cent dis
count for prime names. Foreign Exchange was
steady and nrm on the basis OF 1904 l0eh for
prime bankers sixty day sterling and lloh for
sight bills.
GOLD UNsHrTLED-112h A 112st 112.
The gold market was alternately weak and
strong. The opening price was l12h, from which
there was an advance to 1929, on the engagement
OF much 5000, 600, gold, for export to Europe
tomorrow. With the subsequent expensiveness
OF carrying gold and the withdrawal Of portion
Of the gold put up for shipment, the market de-
Clined to 1l2. The suoTreasury paid out s. 900 on
account Of redeemed fve-twenties, $734,00 on ac-
count OF coin interest and S12s 900 on account OF
currency interest. The course OF the market is
shown In the table:
81 N