The New York herald., 1873-12-06
Is II Warranted by Facts?-D Dangerous
Drifting Towards Reefs.
M O ~ L. " T. A - u L Ie
Gold Stronger in Consequence of
War Rumors.
OvERNMENTs STEADY.
Other Securities Firm-Priccs for the Present
Believed TO Be Near the Top.
WALL STREET,
FRIDAY, Dec. Sd p, M.

WALL STREET
FRIDAY, Dec. SO p. MI
While the stock market is steady and prices are
still obedient to the manipulations OF local specu-
lators the external symptoms, the reports from
business circles the dulness of trade the depreca
ton OF values. the discharge or workmen, the
decline In earnings the renewals OF notes In
banks, the thousands upon thousands OF iders
gathered In towns and cities. all tell OF financial
situation that does not warrant what is going on
with deceptive results in and around Wall street.
II it be true that 'whom the gods wish to
destroy they first make madn we shall
not be surprised 70 see another monetary
crisis more or less dangerous In its influence and
SURROUNDINGS. A report is before us showing the
failures for few days preceding the Attn OF Octo-
ber OF something like 24y firms. If this number
speaks for one or two weeks what must have been
the record or the month What may we expect
on the lst OF january How many corporations
viii be compelled TO show weak hands when the
day OF reckoning appears In short, what has
the country to hope for until our paper appreciates
the value OF gold, and policy is adopted by Con-
gress which shall restore public confidence
THE UNITED STATES TREASURY.
The following are the balances in the Treasury -
Currency $6S0,71s; special deposits Of legal ten
ders for redemption OF certificates OF Deposit
So, 100000; coin $s3, 7vs, s,96a-including certid-
Gates, $SO,s65,1 100; outstanding legal tenders,
1868, ,718.
The foregoing report lustihes question or two.
According to the same there is currency bal
auce:-
December Sc, oSo 7ls
Increase e................... $4, 7so, 7ls
Legal tenders outstanding:-
December 1850 000 600
Increase ACKNOWLEDGEMENTS. $2O9S, 900
The balance in the Treasury has increased
s2,6S2,71s more than the issue of legal tenders.
Where does the Treasury get the excess ? Is the
Secretary selling gold or bonds If balance on
the Isl of December OF 81, 1850 900 was enough for
the purposes OF the Treasury, and the receipts are
in excess OF the payments, as they appear by some
81 6s2 600 for the past four DAYS, why is 1t neces
sary, with balance last night OF $5, ,250, 600, TO
makes further issue OF the socalled reserve to-day
OF $5OO000. Is this for Wall street purposes The
Customs receipts to-day were $260.000 The Assist.
ant Treasurer paid out to-day $350o0 account OF
interest and S205, GOO in redemption of fve-twenty
bonds.
THE MONEY MARKET
Money was somewhat easier to-day, and ranged
from per cent gold TO per cent currency. The
latest business was done on the basis OF and
per cent.
Tine foreign exchanges closed dull and steady at
1Os1s for prime bankers so days' sterling, and
1o9,. for demand. Commercial bills ranged from
1917 to 1919.
The associated banks now hold $50, 10000 legal
tenders, an increase over Thursday OF s1,945,ooo.
THE FOREIGN MARKET.
Little has occurred foreign circles o-day, &C
cording to caple dispatches, TO lend additional in
terest to our home market. The Bank OF England
On0 tn hpp nfaa In Do rio ou-ar
buoyant at 5sf csc. The rate Of discount in open
market on three months bills is ~ per cent,
or one-half per cent below the bank rate.
The following are the closing quotations -Consos
for money, 9IzI 90; consos Jor account, 923s;
nvetwenty bond OF 1865 lold), 93as s31s; do. OF
1867, 9711 a es; ten-iorty bonds, 9l7s; new fves,
917s 81; Erie Railway shares, 1874 3Sx; New
YORK Central shares, 77H a Tx. In Frankfort
bonds are quoted as follows United States
fve-twenty bonds, e7s4 Tor the issue Of 1862.
The following are the quotations from Amster-
dam Central Pacific first mortgage bonds, 81 x
Union Pacific nrst mortgage bonds 69ti; Union
Pacific stock, 247s; Northwest preferred, 62h st.
Paul preferred "a; Erie, AZ.
THE GOLD MARKET
to-day was dull, though prices were nrmer than
Yesterday. 1t opened at 100 and closed steady at
1o9,. Io9s1 The rates paid for carrying to-day
were !, 6, g. 2, and 7 per cent, eold the final
rate being per cent. The extreme range was
1O9h a 100.
The operations OF the Gold Exchange Bank to-day
were:-
Gold balances ........................$ 81, ,3e9574
Currency balances. es...................... 1,537S61
Gross ccarances. Al, $685. 900
CLEARING HOUSE STATEMENT.
Currency exchanges. SCI, $40 06O
Currency balances. Observation-Disclosures. 2,671075
Gold exchanges. T,435.559
Gold balances. Observation-Disclosures. 1,72s3S1
IMPORTS or DRY GOODS.
The dry goods imports for the week ending to-
day were $1,09S,li7, and the amount marketed
$902, ,OS5.
RAILROAD BONDS.
These showed but little falling OF in business,
and their prices give indication OF the favor with
,rhioh thar con tinua To he renardad nc narma