The New York herald., 1874-12-27
WALL STREET NOTES.

THE OUTLOOK FOR THE NEW YEAR-THE
OPINION OF ExPERrs-PRosPECrIvE ADvAS-
rAaEs-A rIMoRoUs CONDITION IN STOCKS
GOLD sTHFER.
Yesterday could not have been looked forward
TO as an active business day. 1t was not. AT nrst
there were considerable sales In the stock market
70 realize when later there seemed to be dispo-
sition to cover outstanding shorts. Later the as
position was manifest to do business on seliers
options
Mr.. CO.'S RESOLUTION
has awakened the street TO the desire OF the
know ledge he has asked for-viz., how much ae-
tual coin each bank has IN Its vaults, how much II
holds in the way OF gold certincates
and how much II holds in the way OF
paper OF private parties representing gold
deposits. In view OF what was said previously
in this column respecting the gold supply OF this
country, and the text OF this paragraph, 1t IS
worth while to note what the Express OF last
night says OF the bank statement:-"The decrease
IN specie cannot be accounted for by the current
movements OF coin and bullion at tnis point"
There is evidently something wrong here which,
In the application OF Mr. Cox's resolution, might
obtain solution.
THE FALIACY OF INFLATIoN.
The following paragraph from the money article
OF an evening paper shows practically the utter
FOLLY OF this innation purpose:-"In the money
market call loans were 3 per cent with
81 per cent as the ruling quotation. Prime mer'
camille paper ranged from 51s Q per cent. Alead-
ing and favorte argument OF the imitation
lists is, that although money may be cheap
and abundant enough IN the Eastern cities
1t scarce and hard 10 obtain in the West conse-
quenrly that section OF the country DeedS more
currency. TO show the lallacy OF this statement
Ha hnu va n ~ M lnn hot IN n
q banking house In TINS city offered lately to lts
numerous Western correspondents money freely,
and In sums TO suit, on time at seven per cent In
terest, and was able to lend but an insignificant
amou mt The reply In almost every instance was
decnnation with thanks and remarks TO tue
effect taat money was IN ample supply at home"
THE MERCANTILE SITUATION,
the circular or MckillOp, Sprague Co., "commer-
cial agents. gives the following summary, which,
from such a source, is entitled 10 CONSIDERATION.
This circular says
failures resulting the tall 1873 still
telt Distrus continued and many houses were Under Under
sP sP s wh M ns a M yery IF
to The
s e mas f %
ed IN Ss the 1s na e. that w gHoSs M
evident that the quantity gone into actual consumption
s pa sax aMs es 70 s been & a I
must make the amount OF sales compare more unfavor
ably aa hs se asas ha has been much
more than customary rn wiz 70 some exten,
TO the same extent Tor the payment Of business obiga
been practisei 10 unusua extent 50 much has this
been the case that probably not less than
then, the reduction values the reduction Of indebt
sderaions the good crops ear. the
conclusion Is nev,tabe-he country throughout is in
IN view q this cannot be wrong to anticipate gen
oq thu space or @
ants WIZ begin at once to eacniae A values an ana
advance When: therefore. gold and orr currency be
es su the a wiz h.Sy h %
the financial question little In the future
= we
@ as tie Of q
outside operations and rading tor the i9ture from
however OF doing business in any Of our large
number as those 81 sss but THIS viii be Included
xh we're dSs %
tan Of that year The number o. these would reduce the
Ss n. q
seek relief through the Bankrupt Court not being able
N
' ess
that whicn enables creditors uEder certain restrictions
hand. g trustees chosen hy Ae%seyss sss M
Frauds still numerous but not more SO than
usual. Against large number OF these The Agency has
protected its subscribcrs but men resolved fraud will
still ind victims.
The Southern States though suffering severely In
some portions have on the whole. done WE'LL More at
tention has been given TO Their grain and
result they not dependent on others their
breadstuffs Another thing has worked to their advan
t2ge. At the beginning OF the their credit low
in the Northern and Eastern markets and the conse.
Quence is not only reduction the Indebtedness
their merchants but unusually sound financial con-
dition, though business with tnat section during the
year mas not been profitable
IN the West, though the fever Of speculation
luna I iG nv mo Rnva n pncf
The business not generally easily LED into
operations aside their general business though
the disposition to trade still too prevalent
The survey OF the whole we think, ustlfes In
pressing satisfaction with the and prospects
business Our position enables lis to look over the
mercia interests and ments OF the entire
sionS