The New York herald., 1872-12-06
FINANCIAL and COMMERCIAL.
The Money Market Active,
but Steadier.
THE AVERAGE RATE ON CALL 1872
The Bank Of England Rate Of
Discount UAaltered.
CouSoIs Lower and United States Secu-
rites in London Firm.
GOVERNMENT BONDS BU0YANT.
An Irregular Movement at the
Stock Exchange.
Advance in Western Union
and Rock Island.
A FURTHER DECLINE IN PACIFIC MAIL.
The Rock Island Speculation and
the Explanation Thereof.
PERPETUAL MYSTERY OF PACIFIC MAIL
A Threatened "Squeeze in the
Advance in Western Union
and Rock Island.
A FURTHER DECLINE IN PACIFIC MAIL.
The Rock Island Speculation and
the Explanation Thereof.
PERPETUAL MYSTERY OF PACIFIC MAIL.
A Threatened "Squeeze in the
Gold Market.
WALL STREET,

WALL STREET,
THURSDAY, Dec. Sop M.
On 'Change to-day cotton was In good demand
and rm for spot" but slightly easier for futures.
Flour renamed steady; wheat was dearer and
corn unchanged.
THE FOREIGN MARKET.
The Bank OF England directors at their meeting
this noon made no alteration in the discount rate,
the minimum of which remains at per cent, while
the street rate continues quoted 5h per cent. The
bullion OF the Bank of England shows gain of
fll5,00O for the past week. At the London Stock
Exchange our bonds were firm and
THE NEW FIvEs
fraction higher, but consols towards the close de-
clined an eighth, for reasons not explained, unless
BY the renewed apprehension of crisis in France,
which Is mentioned in the press cable dispatches,
but can hardly be SO serious as represented, when
rentes come good as 5302. 1t Is not unlikely, of
course, that cOnsos are suffering, as they must
constantly, from the competition OF so many tempt
ing securities paying SO much higher rates OF in
terest offered so abundanty in the London market.
MONEY ACTIVE.
The money market was active at the stercotyped
and stringent quotation Of per cent currency to
132 and interest. The borrowers at per cent were
few and far between, and got their money only on
cOllateras Of first class character with ample mar
gins The real and average rate of the days busi-
cent per anHum-which the ordinary borrower on
stock coiaterals paid quite cheerlully. In some
cases 7 per cent coin interest was accepted by
lenders; but these cases were nearly equally Offset
by transactions at per cent and o commission OF
1-a2 Towards three O'Clock the market was rather
easier, aud closed at coin bid with the offerings
at I-32 dat
MERCANTILE PAPER
was In good request, and the note brokers express
n Tho OFT
considering the activity Of the call loan market.
Rates show no further relaxation as yet however,
which Is not unreasonable, In view OF the only re.
cent diversion of capital to this kind OF invest
ment, aud prime names are to be had at 10 IL
per cent discount. Foreign exchange was easier
on the fear of lookup OF gold tomorrow, and the
leading drawers lowered their rate 4 per cent,
prime sterling closing on the basis OF 1OS1S l0ssx
for sixty-day and 10 1lo,s for sight bills.
GOLD sTRoNG-112X 1131i.
The gold market was strong under purchases by
the clique. whose operations were revealed in the
large amount of gold bid for at the Sub-Treasury,
and later in the spirited demand ior gold for use
: tomorrow. as high as u per cent being paid in
engagements Of this nature. It Is diflcult Of
course. to say, and is at most only conjecture
how far they will forthwith pursue the scheme ind
Gated to-day, but that .lock-up is In preparation
seems pretty evident. At the same time a good
show Of buster and slight "squcezen may be the
cover under which the clique intend selling out
their gold as a precaution against the inevitable
fall In the premium which must come between this
date and next Spring or when derive the full
benefit or the cotton and other crops now going
abroad so generously in constantly increasing
volume. The bids at
THE SUB-TREASURY
called for total of s4,225,ooo, the prices offered
ranging from 112 to l13.OlL The million was aold
at 1888 113.O2h. The SubTreasury paid out
$4,000 on account OF interest and $500 on account
OF redeemed hve-twenties. The course of the mar.
bot Ia al,o in tha tah1