The New York herald., 1875-12-26


''Winter retires discounted" I" says comic
paper, ''seeing that his services can be dis
pensed with"
The skating rinks are crowded with peo-
pie, both at London and Brighton.
BUSINESS AND FINANCES.
Business during the week in nearly all
financial circles has been slack and stagnant.
With the approach Of the holidays there is
q closing up of transactions, and few new
contracts are being made. The prevailing
tone of the markets, however, is one of stead
mess, and encourages the belief that after
the LIST Of January revival will occur in
many branches of trade, and money will find
more active use in carrying forward the va
rious projects upon which England depends
for her wealth.
FOREIGN SECURITIES
in the main have been from steady to firm, not
withstanding the prevalence of rumors con-
cerning Peruvian and Egyptian Stocks, that
were calculated to affect the entire market
pathetically. In the latter less than
usual activity is shown, and, pending the
result of the mission of the Hon. Mr.. Cave,
M p, who has gone to Egypt on matters con-
nected with the recent purchase from the
Khedive of his shares in the Suez
Canal, there is not likely to be ma
terial change in prices. Concerning
THE PERUVIAN BONDS
there are contradictory reports with reference
to the payment of the January coupons. 1t is
said that negotiations for an advance to pay
the same have been broken off in Paris and
transferred to London. There is undoubt-
edly disposition here to render aid to the
Peruvian government, provided the latter
will give sufficient guarantees to make par
ties investing reasonably secure. Reyerting
to the purchase of
THE sUEz CANAL,
English, French and German journals con-
tinue to discuss it's effect from various points
of view. well known military and naval
critic, in recent number of the Cologne
Gazette, declares that, from q CONNER
cial-poliLical aspect, there can be no
doubt that the gain to England is
great because the command of the Suez
Canal supplies the last link missing in
the chain of stations on the road to India,
uniting Gibraltar and Malta on the one hand
with Alden and India on the other. He
claims, however, that the gain in material
power is not SO great as is represented by
many journals; that
THE KEY TO EASTERN EUROPE
is not Alexandria or Port Said but Con-
stantinople, and that in order to
neutralize the power of the latter po-
sition by fortifying Suez, England would
destroy the international" character of
the canal and evoke the protest of other
nations. The writer further argues that in
the event of war the defence of Egypt and
the canal would necessitate division of both
her land and naval forces, and possibly
make the purchase thus turn out
source of weakness rather than of gain.
A number of English gentlemen who are
interested in commercial affairs are now Wis
iting Egypt on what in America you would
call prospecting tours" and the result of
their observations is anxiously awaited
ERIE.
The Erie reconstruction scheme described
in my last despatch continues to grow in
favor. The Times says that the PROPOSE
ton ought to be accepted as one
which represents the interests of all
parties. The FTndncier says that if the
company is honestly operated on cash
basis, the return of American prosperity,
which will be hastened by the Centennial
Exhibition, will place Erie on sound basis
and make it a dividend paying company.
The Erie consolidated sterling mortgages
have been well supported and show q further
advance:
AMERICAN GOVERNMENT BONDS
have been strong on demand for export.
There is an evident disposition on the part
of our people to buy the currency bonds,
based on the belief in an early resumption of
specie payments.
AMERICAN RAILWAY BONDS.
The best class Of American railway bonds,