The New York herald., 1875-12-20
WIN take place unt later in the session The following
MONEY MARKET

The rates for money on call have shown n hardening
tendency during the week, ranging from 10 pcr
cent, gold. Some attempt made to ascribc this
result TO manipulation, but there 10 be good
reason for supposing that II is due to anything but
natural causes aided, perhaps by dstrust the
present speculative situation. The continued drain Of
legal tenders from banks exctcs remark the
now held being down to within $3 600 900 Of That held
sepember6 g. 1873 the Saturday previous to the fail
ure Of the New York warehouslng Company Nearly
all OF the interior exchanges against New York.
which, of course prevents any return OF currency AS
yet there is material advance rates for first class
mercantile paper, but other qualities almost uIsa
able.
THE SITUATION
Is thus expressivcly described by a local writer
'rhcre was stronger feeling in the local loan market
The demand for loans greater and there was
sequently, Improvement in the tone OF affairs The
packers have begun to put their paper the market
and If their applications aggregate much they
ally do the surplus OF the banks will be rapidly
duced; in fact the needs OF the country banks
SO pressing that the surplus is not likely TO last long
Money that was loaned the country banks thirty and
sixty days ago, in the expectation that Il would DO
coming back at this time, TO be again lent elsew = Is
replaced by paper instead OF payment The amount
of renewals by country banks very large there
is also lively demand for additional discounts There
is not much call upon the banks from their city Gus.
toners. Considerable railroad paper has been dis
counted including some made by the company
Gently raided Wall street. and which discounted
at very favorable rates. Rates OF discount the banks
10 per cent to regular customers independent
occasional borrowers better rates made for short
loans On thestreet business is quiet Rates 0 IS
per cent?
EXPORTS AND IMPORTS.
The foreign commerce OF the port for the week was
follows:-Genera merchandise imports, including
dry goods 5l6 produce exports So $40 $50 and
specie exports, s4l4, 75o The total imports OF
chandise since January this year. $310 S63 $50
against $377 $50 for the corresponding period in
1874 and s376,9s3 227 in 1873 The total exports of
produce since January l. this year. 1924 914 s07
against $275 $685. 1888 1874 and $2s7 02l in 1873
The total exports of specie since January this year.
were $67,ss9o3l, against 5s3sl, 463 in 1874 and
$47, las, 057 in 1879
RAILWAY AND STATE BONDS.
Railway bonds especially those of the older issues,
have been in the main trm and it is expected that
they will be better early the year. when, the
result Of interest payable by the government and
various corporations, investors compelled to seek
resting place for their additional capital The huc-
tuations neither wide noteworthy.
In State bonds considerable activity was shown in
Tenncssces lower prices having been established owing
10 ioter from uoVernor foter statng tnat The Janu-
airy interest would not be paid and that the first money
received would be applied to the payment of the loans
made TO meet the interest OF last January. North
Carolina bonds remain in sta1 quo the provisions OF
the funding of 1875 evidently being acceptable
to the bondholders Louisiana consols firm,
having sold up to 81. Virginia consos also
stronger, and some demand Is reported foreign
count The interest due on the secured sinking fund
bonds of Arkansas 1874 to be paid before the
LIST OF January
GOVERNMENT bonds
These were in fair request and freely supplied by
sGerman bankers. They also trfe stronger
abroad, and reported being eagerly sought by
investors the safest of all securities Such con-
don in Wow of the many defaults that have occurred
here and in Europe other kinds OF bonds is un
natural Spectators said to be purchasing in
ticpation of yet higher prices next year.