, 1873-01-13

%e~--9
md Gold Markets FOR tho Weeks
| business Matters Yesterday.
Special De*pateh to 7a< Chicago Tribune.
NEW YoRK, Jan. 1.-The money market
showed signs Of relaxation in the opening days Of
the week, but afterwards there Was partial
return to etringency. The January disburse-
| ments have not given tia. relief to the money
market which many anticipated. Much of tho
money called in during December for payment
OF interests and dividends has not yet found its
way back to Wall street. The Treasury opera
tions continue TO increase the stringency. From
Nov. l to the present time, the Treasury
has purchased about s., 900, 600 bonds, and paid
out IS, ,529, 900 currency for the eame while tho
gold sales for the aamo period were 910.000,oo0
and the currency absorbed therefor 511 ,124 ,000
Some of tho city banks are receiving National
Bank notes from tho grain-receiring sections Of
the West, but very few legal tender notes have
yet been returned. Tho currency sent to the
sou1n and Southwest to move cotton and pack
hogs has not yet commenced to return. The
! absorption ct money each year BY railways is
very large, and the effect OF this one On our
money market in the fall and winter
months has become very plain. The check given
to tho export trade BY the snow blockade at
Northern ports, and the horeo~diseaso at the
and during this week about e2,ooo,ooo OF gold
coin has been exported to Europe.
Foreign exchanges have been generally firm
on higher basis than last week.
The courso OF gold has been marked by i'll
creased fr1nness and an advance from 111M to
1121z on the rise in exchange aud specio ship
ments.
There has been au increased investment de-
mand for Government bonds, and prices nd-
yanced from to ~, although the highest fig
ureB were not current ut the close.
Tn frst-e]aaR rniiUay bonds there has been an
improved buelncss at full prices.
the stock market hns been very irregular, and
dealings at intervals quite ncii1o in fayorite
shares. New York Central has been the most
prominent feature, and advanced from 99Js to
104. with frequent intermediate fluctuations.
This advance WIS based on street 1umors that
tho Company earned 931 900, 900 for the year
ending with December last; that the net earn
that Commodore Vanderbilt was going to make
another scrip dividend. At the close the gtock
reacted from the highest point, when 1t was
announced that the Directors, At their
meeting day changed ths ID detais n ao Of the S3p
7per cent currency bonds, and 10000, 900 per
cent sterling bonds. Horace F. Clark and Jay
Gould are SAID to be bearing Central, but the
Commodore seems to be more than match for
them. Erie, Union Pacific, and Pacific Mail
have been weak and declined. Western Union
has been active, advancing about 8 Per cent.
Rock Island has been weak, declining from Ill
to 10914 on report that the Company wonld
sell at the morning session Of the Stock .Ex-
change, On Wednesday ne1t, 96,ooo,ooo new
stock authorized some time since
The bank statement is again favorable.
MONEY.
Money Was active at per cont gold to 1-G4,
but closed ut T. There is a good demand for
mercantile pnper ut to 70 per cent.
BoHDs-
Government bonds ruled steady with q fair
business, e1copt in 1863, which aro less active
GOLD AND EXCHANGE
Foreign exchange WAS lower and weaker, with
an increasing supply Of commercial bills. Gold
was dull throughout at 11236 to 112hz.
STOCKS.
The stock market oponcd firm.
but fell of, closing. Irregular;
This WAS based on circular issued by the Com.
pany explaining the reason for q scrip dividend
instead Of the usual cash dividend.
PRODUCE
The arrival Of flour was limited, and higher
prices were asked. The market closed stronger
for family and medium Minnesota, with q mod |
crate business doing. At tho opening there !
most Of the holders we're very indifferent about |
ceiling, as the stock is much reduced, and the !
supplies in prospect light The market !
closed stronger but quiet for low grades
OF spring. Choice dull but steady. Winter !
strong but quiet. Pork Was frmer but quiet at |
spot. Fifty brls new mess sold ut 919.871l. Cr.t
meats wero active for dry salted shoulders, Of
which 500 boxes sold for January at 5 1-16c. Bn-
con firm, but no decided activity. Long clear,
&c; short clear, TIC. Lard hrner, with sales OF
$50 tcs Western Tor January at 8Hc- City is
quoted ut Sc. For future delivery we report
sales Of 1,50o tcs at 8szc for April and 84tc for