The New York herald., 1873-12-31
An IndispOSitiOn to Speculate Until After
ihe Meeting Of Congress.
MONEY IN GOOD DEMAND.
Gold Steady and Government
Bonds Firm.
THE PAR OF EXCHANGE.
The New Arrangement Between the English
and American Markets.
WALL STREET,

VUE6DAY. Dec. 3O-o r. M.
Nothing occurred In the street to-day to elicit
comment. Prices are generally unchanged, and
there is little disposition even on the part OF the
principal operators to take any steps that shall
provoke speculation until after New YEARS.. Not
few "points" are drifting about second and third
hand, concerning this stock and the other, but as
long the leading cards are held by the men
whose millions have made the market, and who
can as easily break it, there is little use in pre-
dieting for the immediate future. Wall street
always succumbs to money bag, and he who is
the most plethoric is the time being the king or
the situation. At the present moment there are
no natural influences at work. In other words,
there are more 'guessesn than facts-more sub
terfuges than truths. Nor shall we have settled
basis until after the meeting OF Congress- 1t is
but fair to add that "balloonsn are in high favor
THE STOCK MARKET.
Western Union sold at TN tax a T2% a T2X a
73 q 73H 736 a 739I. Pacific Mail opened at SIX,
sold up to 3sss ss5s and closed at ssH. St. Paul
nuctuated between 41% AK. Lake Shore was
firm at 76h 76k 761I a 761l. New York Central
sold at 98j1 90 a 99A. Bets we're freely made
tnat this stock would go to par before the 1st Of
January. Union Pacific was steady between 30h q
3Ok. Ohio and Mississippi sold at 30h 80 3Ok
3Oh 30H. Northwest common moved from SEX
to 57 and retained its strength al the close at ST.
The preferred stock closed at so. Wabash moved
from 4sX to 49I, closing at 4ok. Rock Island
opened at 99H and went to par, the lesser price
being 99H. c., c. and /. G. vibrated between 27 q
27H. Hannibal and st. Joseph was steady at 27h
'a27h Boston, Hartford and Erie sold up to 33h.
Harlem was quoted at 100. Panama, b. g. closed
at 100. Alton and Terre Haute common reached Is.
Atlantic and Pacific, 12h.
THE FOREIGN MARKET.
n mr..
changed market. We quote limited States FIVE
twenty bonds, 1868, old, 106; 1867, 1o6H ten
forty bonds, l03H new fves 1o3h; /; Erie Railway
shares, az AK. The above prices are based on
the new method Of reckoning the American dollar.
BY this American funds are quoted at the rate OF
4s per dollar; not 4s Cd, as heretofore. Paris de-
spatches quote rentes at 5Sf. SIC. In Frankfort
United States vetwenties 97sS for the issue OF
1862. The new method OF quoting sterling ex.
change, which goes into eject with the new year,
Is In pursuance OF an act OF Congress OF March 3,
1873, which provides that "a contracts made after
January /, 1874, based on an assumed par OF ex-
change with Great Britain OF s. "A 40 to
the sovereign, or pound sterling, shall be
null and void.n On the passage OF this act
the leading drawers Of sterling here agreed
to quote the pound sterling at It's actual price
In American dollars; thus, instead OF saying
to-day that sterling is 1851 and I0oA IL would be
quoted at $4 s4 and 81 SS gold, respectively. The
new par or sterling exchange is expressed by the
figures 81 SO 65-100 for the pound sterling, which Is
practically the Mint par. In view OF these changes
the London Stock Exchange have adopted for
stock quotations four shngs per dollar, which is
i've dollars to the pound sterling The following
specimen shows the method Of quoting the value OF
the pound sterling under the new method, as in
contradistncton to the equivalent rates under the