The New York herald., 1873-12-24
FINANCIAL and COMMERCIAL
A Dull Day in Wall
Street.
Prices Generally Lower and the Mag
mates Waiting on the Future.
THE VIEWS OF SECRETARY RICHARDSON
Money Easy and Gold
About Steady.
A NEW FOREIGN VALUATION.
"A Handsome Gain in Our
Exports.
WALL STREET,

strength and weakness has been developed, and
there is little disposition the part OF SPECTATORS
TO engage in new ventures until something more
is known than at present concerning the Intentions
OF our legislators The commercial situation is
likewise somewhat shrouded in doubts, wllch pro-
woke anxiety and until these are dispelled men
cannot fairly measure financial strength and prOba-
billues The time may be near at hand when
things will be guaged by real values, and not by
soap bubbles; when some Of the cheaper priced
securities win come to the front and the higher
priced securities will go 10 the wall At any rate
the 'street" is evidently awaiting fixed cond-
zion OF affairs, premises on which to base its future
work.
THE STOCK MARKEr
was essentially uninteresting and the volume or
business small The weakness was principally ex-
perienced In the early dealings, when the decline
measured from y TO y per cent Subsequently
there was an Improvement OF rom u to IL per
cent western Union led the market but was
closely followed by Union Pacific, Wabash, Pacific
Asil Lake Shore and New York Central. The close
was generally quiet. Western Union opened at
Tk, improved to 721S, but stood at the close at
71X. Om0s sold at 2ek %; Pacific Mail at 3oA
81 36A a 371s 373s q 81 q 3ez Rock Island at
Nh 81 q 95H; New York Central at 955s a 95sz
s6A s5x; Lake Shore at 74h 749s 741< a 74X
75 q 74x; Union Pacific at S01s a 2sA
29H 30H 80; wabash at 4sA q
AsH 4sk; ST. Paul at 40 q 3eh 3ess a 3sH.
Northwestern opened at 545S, sold up to 54s, down
20 5oX, and closed at 543s. Alton and Terre Haute
common was strong at lax 16k. The preferred
stock advanced to 34zS. sharp and suggestive i'm
provement within q few days. dividend on this
stock is confidently promised in May. c., G. and l.
@ sold at 2e1s 26A 2e3s 26s<.
GOVERNMENT BONDS.
Government bonds closed quiet and firm United
tot civ r1Ea
do. do. coupon, llo q llek; do, do, 1862. regis
tered, 1l2h; do. fve-twenties, 1862 coupon, Il3H
1l3K; do, do, 1884, registered, l12k do. do, 1884,
coupon, nay; do. do, 1865, registered, 113h
115; 90. hve-twenties, coupon, I14a; do. DO. do.,
new, ccopon, III 117k; do. do, 1867, registered,
ll3; do. do do, coupon, l17A 117X; do, do,
1S0S, registered l12K; do do, 1868, coupon ll71<
11s; 90. ten-iorties, registered. 1102; do. do,
coupon, lll1; do ives Of 1881. coupon l10K
lllx; per cent bonds OF Pacific Railroad, 1928.
THE MONEY MARKET.
Money was easy during the oreater part Of the
DAY, the small transactions OF the stock market
limiting the demand, and the rates closed at and
per cent. Gilt edged paper was discounted at
from to 10 per cent, with exceptional and super
0ne as low as per cent. Greater caution than
uSual, however, Is being observed in scrutinizing
commercial paper, In consequence OF the many
rumors Of, and the actual failures that have taken
place. The loan certificates uncancelled now
amount to $3335 ,0O0 Foreign exchange closed
weak and actual business was at l0s15 1857 for
prime bankers 60 days sterling, 100 a l09,S for
demand. The demand from bankers has fallen on
and there is very little inquiry from the trade.
200 OF bonds OF 1858 we're exchanged az the
Treasury to-day for new ives.
THE UNITED STATES TREASURY.
The internal revenue receipts were $1s2,907. The
receipts from customs were $245,O00 The balances
in the United States Treasury at the close OF busi-
meas to-day were as follows currency $s40, 33S
special deposits Of legal tenders for the redemp-
fiOn Of certificates of deposit $32 es5 900; coin,
3s5, 800; including coin certificates $3 ATS, 800;
outstanding legal tenders, $376, 234 962. The As
sistant Treasurer paid out to-day $3s,0OO on ac-
count Of interest and $4,000 in redemption OF
0ve-twenty bonds. despatch from Washington
states that it is now quite certain that If the esti
mates are reduced as proposed and other contem-
plated reductions in the government expenses are
made, the increased taxation win not be neces-
sary. Secretary Richardson favors the abolition OF
the Sinking Fund for one year, or until the rev.
enues increase. This would give about $40, 000 600
20 the Treasury, which, together with the reduc-
Sions in the estimates, viii be money enough for
the Treasury without resorting to Increased taxa
zion.
THE NEW VALUATION.
March s. 1873, the Secretary OF the Treasury will,
ON January l. issue circular exhibiting the values,
In United States money, OF the various colnages OF
the world. Among the important changes are the
3olowing:-The value Of the English pound ster-
hing is increased from $4 "a to 81 SO and one-half
mill. French francs are increased from eighteen
cents six mills to nineteen cents three mills. All
goods taken ont OF bond and after January
will be subject TO valuation at the increased rates.
The Treasury ofiicials anticipate an increase OF
shout per cent in custom revenues from the
changes in value which have been made.
THE FOREIGN MARKET.
Gable advices are unimportant. The following
are the late London quotatons:-Cons for
money, 9lX 90; consois ior account, 92 q e21s
4ve-twenty bonds OF 1885, old, o.; fve.twenty
bonds 0f 1857, 94k s4ss; ten-forty bonds, 92 a
O2Ss new fves, sl3s 9lh; Erie Railway shares
S6K Q 36x; New York Central shares, 7sX TO-
American securities are easier. The amount or
bullion which went into the Bank OF England on
balance to-day is f3l,ooo. In Frankfort United
States 1vetwenty bonds were s7,l for the issue OF
1852. The following are the quotations in Amster-
dam:-Central Pacific nrst mortgage bonds, soY;
Union Pacific drst mortgage bonds, 7l1s; Union Pa.
Circ stock, 26%; Northwestern preferred eoS.
NJ, THE GOLD MARKET.
Gold opened at 110x and declined to 1897, but
recovered to l1oA and closed at 110h 1I0ez The
market was devoid OF feature. The rates paid 10 7
carrying to-day were !, 1s2 g. 5. AZ and per cent
gold, and for borrowing, nat.
OPERATIONS OF THE GOLD EXCHANGE BANK.
Gold balances 81, ,50S IL
currency balances. L, ,0S5, ,594
Scid cleared OBSERVATION-DISCLOSURES. "A, ,425 900
CLEARING HOUSE STATEMENT.
currency exchanges. es................. s67, 1856 039
currency balances. ACKNOWLEDGEMENTS. 3,4l5,539
GOld exchanges... .................... 5,053, 3ss
GOiu balances 53s0d8
EXPORTS
The total exports from this port for the week
ending to-day amounted 70 ss,s4s,Ss7 mixed vaIues
which IL an increase over last week OF $172, ,o32
1he exports for the corresponding period Of last
yesr we're s4734sso, and for 1871, $l,o4s,so4. The