The New York herald., 1874-12-07
FINANCIAL and COMMERCIAL
Rev.sw of the Events OF the
Week.
SIGNS OF IMPROVEMENT.
WALL STREET, |
SUNDAY. Dec. ., 1874.

Sigma Of commercial Improvement continue to
be watched with unusual interest by the entire
business and speculative community. That o
change for the better is slowly taking place Is
beyond question. Trade, heretofore stagnant,
has become moderately active; exports notwith-
standing the dffcu.ties OF transport alton, are
going forward with considerable zest; more
freight Is said to be onering. especially in the
German lines, than can well be shipped lor ct
least fOrtnight our grain is also in process OF
movement to Europe, where the produc rion Is
now said to have been largely overestimated in
the early part OF the season. In the dry goods
market similar influences are also at work. the
stock Of goods In bona being IN process OF steady
reduction, while an increase is reported In the
amount thrown on tho market Tor actual con-
sumption. The total amount thus disposed OF
during the month OF November was $6,614,000,
against 900 last year, $69Oo,ooo In 1872 and
$7,41400o In 1871. The commission houses have
been doing fair trade, and the great retailers OF
the city observe
SOLID INCREASE OF PROSPERITY,
as shown Dy the increase Of their sales during che
past few weeks compared with the same season
last year. In short, nearly all the departments o.
commerce present these gratifying evidences. and
the LIST OF January business Will be conducted
upon much more stable and profitable basis.
THE MONEY MARKET.
Money continued Its outflow to the West and
South until the close oil the week. the bank state-
ment indicating by the loss OF legal tenaers the
healthy use to which currency has been applied.
The question was mooted alter the close OF the
market at noon yesterday. as to what would prob
ably have been the result Of this reduction In the
reserve Of the banks upon the prices OF stocks
From the general tone OF the discussion It was ap
parent that the movement was regarded as a
gratifying indication OF recovery in business that
is likely to be felt in all commercial crcles Local
rates lot money on cali loans ranged from to 6K
per cent. but the principal dealings were ON the
basis of and ~ per cent. Time loans were made
at ana ~ per cent Tor thirty days. s and SIX per
cent for sixty days and and per cent tor three
and four months. In gold loans the rates were
S-16 for thirty to sixty days and 616 three
and four months. Prime commercial paper was
discounted At and per cent Tor sixty DAYS and
good paper at and per cent. Four months pa
per was done At 8 and per cent First class gro
Gerry paper was discounted at 5K and per cent
for sixty days. Lower grades were qu0ed at
and 10 per cent Foreign exchanges we've gener-
ally steady, though dull The supply Of capital
seeking investment in time and call loans Is unu-
suany abundant and the offerings more than the
necessities OF the market require, and the January
disbursements Of interest are likely to swell the
amount.
THH GOLD MARKET.
the gold market during the week was generally
strong, until the announcement on Friday that
turn In the tide had taken place In the Bank OF
England, and that that institution had gained
41S10Oo, anu discounts in the open market were
obtainabe at 7-16 per cent. The price at once
receded from 1l2h to l1lK and recovered only Y
per cent at the close The decline may have been
aided BY large sales, and 1t was contended by the
friends OF the bull movement that it would be but
temporary; yet golo has so closely sympatnized
with the outflow from the Bank OF England and
the shipments OF specie from this port tnat any
Suspension Of either process would be likely to
$Iect the price, even in the face OF q sharp pur-
chasing movement. On gold loans higher rates
have been generally paid for use than last week.
FLUCTUATIONS IN THE GOLD MARKET FOE THE
wEEK.