New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-02-02

dealers are bpinning TO come in and look after
their Spring stocks but are not yot buying heavily,
and the trade cannot be said to be active. The fact
that some of tho heavy dry goods houses which
were compelled in consequence Of the panic to ask
for an extension. have since found their affairs
80 much improved to give assurance
Of the prompt meeting Of their obligations,
and in some instances before maturity. ~
regarded rs a very hopeful indication for
that important branch of trade. The imports for
the week again show an increase in dry goods and
decrease in general merchandise, tho total imports
having fallen off about S3OO0,OOO. The exports have
also fallen off about half million. Business drags
by reason Of the hating, hestating INDIGESTION and
inaction of Congress upon the important question OF
finance and currency. Naturally enough, merchants
hesitate about entering into extensive arrangements
for the Spring trade, now close at hand, without
being able to form reasonably accurate
idea of what are to be the financial measures of the
Government. 1t is therefore due TO the great bust
ness interests of the country that Congress act with
more decision and promptness than it has indicated
of late upon the important and knotty problem be-
fore it. While much anxiety prevails upon the sub
ject, the general impression seems to he that
Congress will legalze the issue of greenbacks mp TO
$780, ,OOO and authorize free banking. 1t
is also family hoped that as n sort
of offset to this unnecessary and unwise
exhaustion provision may be made for the redemption
after the LIST of July next of $2OOOOO legalenders
per month by the issue of gold notes having two
years from date to run. Should this be done the
irredeemabe greenbacks would stand on the ISL OF
Nav, 1S76-a little more than two years hence-Just
where they stood before the Secretary commenced
the illegal issue of what he calls his S4,OOO0OO re-
serve viz: 1856 100000 while we should then have
in circulation S4iOOOOOO of notes redeemabe IN gold
From this the public can ;gc for itself about what
time IN 80 next century we shall be likely
TO reach specie payments by this process. sim
we tonight. perhaps in these times and with this
Congress. to be thankful for very small favors.
Money on call has been easy during the week at
3 to per cent on Government securities, and
to brokersy at to per cent for the
usual stock colaterals aud there has been
brisk demand for first-class mercantile paper ut &
TO per cent while the very best sometimes goes
at 81 The market for United States bonds has been
good. without material changes in quotations
Southern State bonds have been inactive,
with some little demand for Tennessees,
while tho demand for frst-class rail-
way mortgages has been good, with largo
and well distributed sales Gold has been dnll all
the week. and without any apparent effects from
the alleged speculative movement, the range OF
price having been ll1s and III and the closing price
TODAY ILL., the same as last Saturday Foreign EX-
change has been strong and weak by turns, with
limited business In railway and miscellaneous
stocks the market has shown strength IN the invest
ment shares and as n rule weakness In the specu-
| latives especially during the earlier part OF the
week. On Friday there was rally in prices OF from
70 Il per cent, which was partially lost to-day.
But the business of the week shows
general decline in fancy stocks and an advance in
,l;,v;1 o,I win oh Y Central Harlem
and Atlantic and Pacific Preferred being exceptions
to the rule The closing prices to-day, compared
with those Of last Saturday, show an advance in
Panama Railroad of 1 per cent; Erie 2; n. j. Cen
trial. p; Delaware, Lackawanna and Western, 81;
Atlantic and Pacific Preferred, D. and Michigan
Central, 81. Also decline in Ohio and Mississippi
of per cent Lake Shore, /; n. Y. Central, Hann-
bal and St. Joseph Preferred and Pacific Mail, each
Z: Western Union Telegraph, (! Harlem !; North
West Preferred and Hannibal and st. Joseph Pre-
ferred. each !; Wabash, /; st. Paul Common and
Preferred, Il, and Northwest Common, per cent.
To-day the stock market opened steady, and soon
became strong. when Lake Shore sold at 81, North
West at 59s n. Y. Central 1884, Erie jOt, Union Ia
cifc 35., and Co. c. and |. c. 3s, and the whole list
became animated with well distributed dealings.
The animation, however, was OF but short DURATION
for by midday dulness was the rule again and
prices dropped from to per cent with something
of a rally later in the day, the market closing firm
The above mentioned stocks most active, IN
Guiding also Michigan Central, which sold up to s5l
Two new telegraph stocks have recently been intro
duced at the Stock Exchange, the Atlantic and Pa
cifc and the American District. The former is the
principal rival and the latter the ally of the Western
Union. An active demand prevails for the
District stock which supposed to emanate
from some of the Western Union managers.
The opening highest, lowest and closing prices of
active stocks sold to-day will be found in the follow