, 1872-12-30
WALL STREET.
Review of the Monetary and CONNER.
cial Situation During tho Fast Week
Business Yesterday.

Business Yesterday.
Special Despatch to The Chicago T1ibun..
New YonK, Doc. 29.--During the past week.
the etringency in money has increased and the
pressure has been greater than during any pre-
vlous week this eeason. There hare been iso-
lated cases OF money-lending at the legal rate Of
interest on call, but tho great majority OF bor-
rowers have been forced to pay from 1-32
to x per cent per diem, or from about
II to 1925 per cent per annum. These
remarkable rates have attracted but little
attention comparatively, and the brokers hayo
paid them with apparent unconcern. There is
an increasing pressure Of public opin ion calling
for tho repeal OF the usury laws. The outflow
Of currency to pork-packers. and the various
arrangements caused by the snow blockade. have
tiors as usual, since election, hare been adverse
to monetary ease. The gold operations OF the
Treasury have been moro extensive than usual.
During the week 93, ,678, 600 have been paid out
deemed, and $1,000 600 sold on Friday. This
makes the total disbursement Of $4,709, 100 gold
fer the week, while about 81, ,100, 900 have
been taken in for customs. At the close OF the
week many individuals and corporations were
gathering their resources previous to making
annual settlements, and paying interest and
dividends. It is estimated that over 575, ,O00 900
will be disbursed at this point in January, and
the necessary preparations for oTen one-quaftcr
OF this sum sufficient to temporarily disturb
the money market.
Important events in this country within about
fifteen months have exercised o detrimental ef-
feet upon tho financial situation at this point.
The Chicago fro transferred to the West
tho Last, which Vas always regarded us
fixed or permanent in this city. The Boston
FIRE repeated this operation on arnaller scale.
The creation Of new railroad securities has been
o+o ityytS
within Six months the volume Of railroad bonds
and stocks has been largely Increased. Some
Important aud extensive lines Of railroad in the
Northwest and Southwest have been pushed to
mnncat improvements have absorbed for the
timo being large amount OF money, much Of
which has been drawn from this point.
Gold speculation was heavy early in the week,
t!rmer feeling prevailed, and there was an ad-
vance to l12:l on specie shipments and full bid
ding rates Oh Government gold.
Foreign exchanges have been strong, With 4
marked by good demand for Government
bonds md other first-cass investment socuri-
tics, hut the offerings hnve been light.
Tho railway and miscellaneous speculation
started off buoyantly, aud prices advanced up to
Tuesday afternoon, since which time the market
has been irregular, with frequent intervals Of
weakness and lower prices. Business on the
STOCK Exchange has been smaller than usual,
While the HnctuaNOnB nave been confined Within
narrower limits, with the exception OF worry
few shares. There has been an entire absence
in extremely fashionable" securities OF any OF
those violent movements soprominent for months
past. The smaller class OF professional spccu-
la,ors and outsiders have continued to buy
during tie week for the "January risc," and
arc now thoroughly Il fortified for this expect
cd event. at the close, despite the continued
striugency in money, there was 3 buying move-
ment on the part of smal operators which stiff
fened tho market, and carried tho general list
up from the lowest prices previously made.
The foreign commerce Of the port for the
~eek was as follows General merchandise i'm
ports, including dry goods, s4,575 1896 produce
szpo5tss, s.a s,,. sa'7s4Ss6; Specie specie 49,: exports,
ports since Jan. i, ss75, ,s21 7oI M
against $685. ESQ., 164 last year. Total ex ports OF
produce, S236 027, ,474, against S237 1854 041 last
year. Total exports Of specie, $50, $50, ,333,
against $685., ,033 last ycar.
The bank statement, while showing large
loss in legal tender notes. is favorable as far as
The bank reserves are concerned, they having
ieen strengthened by S4,463,7o0 gold, while the
t,=s in legal tenders is $3,507, 100.
no total liabilities OF the banks
an the averages Ct the past
lAst week. Tho loans have 5een decreased
l,239,0 600 The banks now hold in what they
reckon as lawful money 81 835,75o above tho Is
1er cent requirement. Last Week they 10 held