The New York herald., 1874-12-24
WALL STREET NOTES.

WALL STREET NOTES.
THE SPECIE MovEMENT-QUERY: WHERE DOES
THE GOLD COME FRoM?-MR. Cox's REso-
LUTON IN TIE HoUsE-THE TRIAL BALANCE,
DECEMBER 81 1S74-ANoTHER FAILURE AND
IT'S LEssoN-yERY PACIFIC MAr,-NRw
ORLEANS, MOBILE AND TEXAS RAILROAD
The most important point in the current situa-
tion in general business, so far as the same is
nected In Wall street. has reference to the exist
ing gold supply OF the country. With the present
agitation in favor OF decisive financial policy
looking 10 specie resumption. a knowledge OF
this is most essential. The heavy. drain to
which we are at present subjected and which
has been sustained without any very con-
siderable advance on the premium although IL
has gradually grown suffer OF late, has awakened
some suspicion concerning the means whereby
that drain Is met, especially as our grain ship
ments do not furnish US the abundant profit the
country had looked for from the large crop. We
threw away an opportunity there that we Will bo
fortunate II we get next year. The
SHIPMENTS OF SPECIE THIS YEAR
have been growing very large oflate. amounting
last week to So, $685. with total since January
last OF $5a, ss2 against $47s4l 725 for the
responding period OF 1873. Gold to-day sold Qhc
highest dgurel at 1llx. while during this month
last year 1t sold up to 112M 1.-THE highest Gguret,
difference OF one per cent, against an increased
shipment this year over last year OF over
$12 sol, 900. The shipments for this week have
been already heavy and the engagements Tor to-
days steamers are stated at Sl000.000. Beside,
secretary Bristow has directed that the pay ment
or interest due January next be commenced
to-day without rebate. This IS o more than usual
anticipation, explanable perhaps in a generous
nap fhn f1arh WIN
to these interest payments Tor current expenses
TO q merry Christmas. The street, which is
ONLY LOGICAL WHERE FIGURES ARE CONCERNED.
is beginning to ask, Where Is all this gold coming
from ? II knows well enough where 1t IS going to,
but wants further Information as to whence such
free supply that we can ship $l2 900 more than
last year without Affecting the premium to the
extent The question Is asked Are we shipping
our reserves and, inasmuch as we might do so
without It's being at once discovered, in conse-
quence OF the current use OF gold certificates in
lieu OF con curiosity Is rising as TO the exact ex-
tent OF the security benind such certificates That
ton INTO the House YESTERDAY. BY Mr.
ferred, directng the Secretary Of the Treasury to
require from the presidents and cashiers OF all tho
national banks In New York city report, under
oath, wltnln days, Of the exact amount of gold
CON- gold certificates and checks or memoranda
OF indlylduals held at such banks at the close Of
business December 10, aud to transmit the
same to the House." The value Of such informa-
ton cannot be overestimated IN the consideration
OF any plan looking to specie resumption, and the
inquiry ought to be extended TO the Treasury
Department, whose coin balance mas at certain
periods not been above Suspicion. Tho condition.
Oi the market here Is beginning TO create alarm in
commercial circles. borrowing rate OF per
languid premium. No better time than the pres
ent could be chosen wherein 10 learn In baro
terms, without disguise,
WHAT Is THE ACTUAL EXISTING GOLD SUPPLY or
THE COUNTRY
here in bulk. This Is the starting point for specie
resumption, and, as we are Just closing out year
Of nquidation and settlement In the hope or enter
ing upon new year OF fresh industrial and specu-
we stand Disguise now would be only the seed
or fresh perils next year. Knowledge would be
cannot hope for any thing like early resumption Of
specie payments let the country by all means
know II. II the reverse, so much the better. Il
will help to the desired event. Mr.. Cox's resofu.
s0n y the most inteligsn, moyemen. toward
Congress this session. Among the
CURIOUS FEATURES
Of the gold situation was the arrival yesterday 0,
81 ,0O0 600 gold coin from San Francisco. II viii be
recoiiected that this amount was but recently
shipped tnither. It's quick return was not Ell
planned ON the street.
was reported on the street about noon yesterday
Wnere Without esos upon the W. ms
kets. AS we approach the period OF yearly SETTLE
ment more n o. sheSe are % or wisnoat nneas
test OF sOvency, and IL Is quite possible tnat not
q lew who now consider themselves sound may %
disappointed in Its lesson. The next lew weeks,
extending, It may be said, to the middle OF Ianu-
ary Will be period OF purgation In business CIR
Giles, intensyine the experience OF the past year.
1t is well 1t shoald be The trade of the country
will get rid OF elements OF danger, the tree Of busi.
ness life will nave lost only its rotten branches.
and a larger and more sound growth is sure to
follow. THIS renders Mr.. Coxs motion all the
more pertinent TO the situation, as It Is well that
the BANKS and, as was suggested, the Treasury,
should for the safety or the future, so through the
same purgation the private firms OF the country
contributed nothing Of Itself to history yesterday
Francisco. She enters at once upon the Yoke.
hana ltne The subcommittee OF the Committee
Of Ways and Means OF the House asked BY RUFUS
examine che company's books was appointed. and
has arranged TO meet IN this city. az the Filth
consists OF Messrs. Burchard, Kasson, NiblacK.
Wood and Dawes.
NEW ORLEANS MOBILE AND TEXAS RAILROAD
meeting Of the bondnolders OF this road met
yesterday afternoon, corner Of New street and
on a 81 the road
The road begins At Westwego, SIX miles above
New Orleans and ends at Bayou Goula, an insig.
nifcant port from which no traffic 10 obtained.
1t was resolved at the meeting that the western
branch OF the road be pushed on as far as Grand
terminus. This, it was stated would give the road
connections with the mail boats which touch at
sos sos o
ex Governor E ID. Morgan. Charles Morgan, L. p.
Morton, Charles Moran al and - L Won HOFFMAN: was
port upon the iurther extension OF she road to
Texas. 1t Is proposed to issue certificates the
extension to Grand River, which shall be prior
lien on the road.
RUNOR DIsCREDITED
The report OF q combination between the New
York Central Railroad and the Canada Southern
Is said to be uniounded.
RELC OF BLACK FRIDAY.
Mr.. Albert Speyers OF Black Friday memory,
brought suit IN the Supreme Court against the
widow OF James Pisk Jr., for $l@sy5, commission
OF One-eighth per cent on $ll,9 200 gold cotn
purchased for Fisk september 4, 1869. Judge Van
Worst awarded judgment yesterday to defendants
with costs.
RACTNG EAST RIVER STEAMBOATS,