The New York herald., 1874-11-16
FINANCIAL and COMMERCIAL
The Events of the Past Week
Trade Prospects.
REVIEW OF THE MARKET.
The Course of Money.
Gold and Bonds.
WALL STREET,

SUNDAY, Nov. lb 1874.
review OF the leading events OF the past week
shows that number OF changes have taken place
which sooner or later may influence general
markets. me journals published In the interests
OF trade generally report q decided Improvement
IN connoence and In the volume Of transactions
This u satd to be demonstrated by the renewed
activity In the various forwarding and transporta.
tion routes. The distribution OF money In the
sSousn aad West In tine movement OF the crops has
had Its natural healthy e1ect and an advance In
the oank rates at Chicago, Cincinnati, Louisville
ana other points is not to be ignored as another
encouraging commercial sign, inasmuch as 1t
shows that the capital sent out from the great
financial centres is performing its mission among
the classes who produce, purchase, sell, consume
and thus give fresh impetus to the machinery Of
trade.
THE NEW ENGLAND MAHUPAoruRERS
VINO had been compelled to reduce their produc.
ton one-third In order to adapt themselves 10 the
great contraction that mad taken place. report
that the prospects OF business point to the ne
'cesdfy OF again running on full time at an early
day. The Untted States Economics says that .from
TINS until the LIST Of January the preparations for
business changes viii be on an astounding SCALE
1t has already come under our notice that changes
are contemplated in the dry goods trade OF this
city Involving total OF $25 600 900. Changes to
corresponding extent are IN progress in other
trades. New nrms have Deen reorganized on the
basis OF old ones, with an infusion OF new blood,
energy and capital. There are vague but OBJ
vtousiy well founded anticipations OF similar
movements In other important branches OF busi.
neu. For one thing, the resumption OF specie
payments BY the federal government is regarded
NJ ioregone conclusion, inducing corresponding
CHANGES IN BUSINESS.
'EOr-[hese afterafiOna new men and canital ara
required. Probably estimate Of s100, ,0O0 600 as
the total amount OF capital represented in the
Arms In this city undergoing change would not
vary materially from the correct figures. 1t is
.dincut to determine the effects OF this unsettled
condition OF aIairs upon actual business opera
tlons, although there can be no doubt that they
exercise an important influence on quotations.
At New Years all firms desire to make as large
returns OF cash as possible, ana this year the new
houses would naturally desire to make favorable
exhibit. ana would consent TO deductions for
cash, which, under other circumstances, wouldnot
be entertained"
Another sign OF the times 1s the advance in
government bonds and some other securities that
arc held abroad and have been returned to
America to be sold for foreign account 1t means
that the recent political changes have been &C.
'cepted BY the people as an earnest Of brighter
future and more substantial results. Banks ana
other dduclary corporations are buying these Sc
currttes rather than lend their surplus money on
call loans at and per cent. Prices having
obeyed certain causes peculiar to this country and
which could not have been exerted abroad, the
temptation to the foreign investor has been to
sell In this market hence sttnening in ex-
change, the shipment OF and advance In gold.
MONEY.
Money on call loans has been In better request
and atsomewhat higher rates, the bulk OF business
being done ats Sk per cent, with extremes q,
and per cent Time loans were mace at ~
per cent. Prime business paper passed at and I
per cent for acceptances and and IL per cent for
single names. The following were the last rates
OF foreign exchange
Stzty Days. Three Days.