The New York herald., 1872-12-12
nee Jan. .$1S4. 526 $227, 5sl s225
THE FOREIGN MARKET.

Since Jan. $1S4 S4S52s 1927 5sl s225, O47
THE FOREIGN MARKET.
The London quotations come steady and about as
last reported. United States bonds are not quite
80 firm, but the changes in prices are not impor-
tant. Consols are quoted ex the ''Christmas in
terest," which Is not payable until January s, or
one day before Little Christmas, owing to the excl
sion Of time made by the adoption in England of the
Greg0rian Calendar. Eries were reported h lower
for actual business, with the quotation before.
The Paris market shows lower prices for rentes
but the decline is probably reaction from the re-
cent advance rather than result Of fresh political
agitation. further reduction in the Bank Of Eng
land discount rate Is looked for, but will hardly be
made for week or two to come.
ADVANCE IN FOREIGN EXCHANGE.
There was further advance in the rates for
foreign exchange, the leading bankers asking 1887
for sixty days and 11OH for sight sterling bills, but
allowing commission Of q for round amounts
The current demand for each mail steamer the
past few weeks has been quite active. and the
bankers in covering, have denuded the market OF
commercial bills. 1t is healthy sign when
merchants remit in this way, and close up accounts
rather than borrow gold and exchange against the
chances OF decline later in the Winter. The vics-
Btudes attending this species of speculation have
deferred the merchants this year from repetition
Of the practice, and it looks as II 1872 would close
On q quite general
SETTLEMENT OF FOREIGN ACCOUNTS
and smaller mercantile interest on the "short"
side OF gold than has been the since the close
Df the war. There were no new developments
TO the suspension of Jacob Freres OF Belgium The
following were the closing rates STERLING, sixty
days. commercial 10s 1885; do. good to prime
bankers. 1Osx 1857 do short sight, 11O4 l1O&;
paris, sixty days. 5.s2k 6.2sh; do, short sight,
5.23X 5.23x; Prussian thalers, II a ny; Ant
twerp 5.31K 6.2ek; Switzerland, 5s1A q 525;
Hamburg, s4,< o6A; Amsterdam, 3oA 4oA;
frankfort, 4Ox Al; Bremen, OAK 95h.
THE NEW LOAN.
The refunding OF the national debt through the
negotiation OF the new loan is beginning to re-
enlist attention in financial circles 1t is said that
the offer Of the Rothschilds to take the remaining
$780, 900 OF the per cents at par, In gold, with
the privilege Of calling all the AZ per cents within
"a year, has not been Withdrawn, and that Secre-
tary Boutwell, will close with it II not instructed to
fthe contrary by Congress. As the new lives are
now selling In London at S9-equivaent to about 9s
din g0ld-it Is difcut to how the Rothschilds
are going to make profitable market ior the
bonds after they buy them.
.'F MONEY ACTIVE
The money market was still quite active but
perceptibly easier tone was discernible, although
the modification was not Of any important extent.
The business OF the day was at Z, coin, to 1-32,
others again at as low as plain per
cent, the latter being exceptional and OBJ
tained only by favored borrowers on first
class c0laterals The early closing Of the
ioan market was rather feature OF the day, ac
counts having been all adjusted quite while before
three O'Clock. Petitions In circulation urging
the passage OF the bill introduced in Congress for
the repeal of the usury laws. Commercial paper
was moderately active. and the note brokers re-
port a continued large inquiry. Prime names were
quoted 10 II per cent discount
SOUTHERN SECURITIES FIRM.
In the Southern State bonds Tennessees were
strong, and advanced to $780, AS before stated
the inquiry from the railroads has ceased, but new
buyers are found in parties who look to see the
State resume interest and the bonds advance to
90 q 95 within the next eighteen months or two
years. The recent rise has also been helped by
large purchases to cover some venerable contracts
on the '.short" side The South Carolinas were
more active and better. The South Carolina
sevens, which were created under an act authoriz-
ing loan FOR the relief Of the State Treasury
have been dealt in quite largely at IS. yir-
ginia consols were better, and Missouris
steady. The following were the
CLOSING QUOTATIONS.
Tennessee, ex coupon, SO a s2h; do, new, s2h q
BS; Virginia, ex coupon, 4S q so; do, registered
stock, old, 80 . A; do. sxes consols, SEA q
BOX; do. skies, deferred scrip 16x 16;
Georgia SKIES, 70 so; do. sevens, So 90; North
Carolina, ex coupon, SAX SO; do to North Carolina
railroad, 50 90; do, funding, 1885, 27k 80; do
do, 1858. 20 %; do, new, % Is; do special tax
I13 80 Is; Missouri skies, s4x sS; do. Hannibal
and st. Joseph, so 90; Louisiana skies, SO 90
do new, so 90; DO, levee skies, so 60; do. do.
eights, 70 90; do. do. eights 1875, 70 80; Ala
bama nves, IS 90; do. eights, 80 s4 South Caro-
alma SKIES, 81 IS; do, new, January and July, "a
aNh; do. do. April and october, 2Sh 2S; Ark
ansas skies, funded, 45 so.
THE RAILROAD BONDS.
The railroad bonds were firm with well dis
tributed inquiry. Union Pacific frsts advanced to
% and incomes to s2h. Central Pacific frsts ad-
sanced to 1o1A. Hannibal and st. 10. conver-
tibles sold at 93k. The following were the bids at
the call: -
New York Con 6's, 1893 81 Toi Wab I'd m ,...... 90
New York Cen SIS, RES Tol &Wab equip bds... "