The New York Herald Newspaper, December 5, 1873, Page 9

FINANCIAL AND COMMERCIAL Lessons from Railroads---Troubles Inci- dent to Watered Stocks. THE MONEY MARKET. Affairs in England--The Rate of Discount Reduced to 6 Per Cent. ial aeaieen Stocks and Speculative Influences. ee eee Gold Lower —Government Bonds and Other Securities Gencrally Steady. WAL. STREET, ’ Tuunspay, Dec. 46 P. M5 Yow porsons bear in mind, when criticising tie stock market, the extravrd.vary )rocess of “water- ing" that has taken place ta various railroads or consider how much tuts policy is responsible for bringing these corporations Ww the brink of bank- ruptey. A few figures will strongly tilustrate the difference between certain lines, Wich are mainly parallel ani completing, ior tac same class of bual- ness; — Mites Capital Roa, Operated. Stock, New York Central. J od 428,300 New York and Er. ssn 937 16,111,100 Total Capitat Roads, Debts. and “apt New York Central. ..¢16, New York and Enie., 3 Pennsylvania, 6. Baltimore and It willbe seen that ¢ ew York Central Ratl- Toad has to pay out Of its earnings interest and dividends on $105,000,000, the New York and Erie on $118,000,000, the Pen isyivania on $116.000,000 (since April last author.zed to be increased by $36,000,000 bonds and capital stock), and the Balti- more and Ohio on only $26,000,000, The difference dn the management of this last mentioned road is shown in the fact that iv has a surplus of assets which represents earnings invested in various beanch and connecting roads, and in steamships, hotels and various great improvements, and not represented by stock or bonds, and which samounted in October, 1873, to the sum of $29,034,404. We do not suppose there is another railroad company in the United States that can make such an exhibit. The addition to the surplus fund in 1873 was $2,882,134. The company, in the Meantime, has been lavishin its expenditure upon its main road and extensions, During five years its outlay has amounted to $25,574,984, all of which camo from SURPLUS EARNINGS except $8,500,000 borrowed in London. Its surplus earnings constitute a reserve. Hence, while its rivals were staggering under loads begotten by m- Nation and panic, this company made its semi- -annual dividend of 5 per ceat in cash, Ivis, there. fore, not only independent, but its debt is gradu- ally diminishing. Had ali of our great roads been Managed with equal conservatism; had they even used their opportunities when earnings were great, to apply the latter to the reduction of their deot, some at least of the causes of the late panic would not have existed, and we should not have seen the mortifying spectacle of monster corporations mak- ing the most flattering of exhibits to stockholders and giving to figures all the truth they could con- sistently bear, while the chief officials were se- crectly engaged at home and abroad in endeavors to borrow money enough from capitalists to sus- tain credit and make dividends, A PROPOSED GOVERNMENT TELEGRAPH. “It is intimated that the Postmaster General is maturing a plan for the purcuase and consolida- tion for government purposes of certain telegraph lines outside of the Western Union Company, which are to be used !n connection with the postal saving system, weather reports and general business. It 1s known that for a long time a monster company has been in process of organization, with a view to the sale of their interests eventually to the gov- ernment, but if the report be true the Postmaster General has anticipated their action and is the first in the fleld, It is said that apart of the plan in. volves the utilisation of army and navy officials, instruction in telegraphy at Aunapolis and West Point, and thus making a governmental telegraph thoroughly subservient to all general and ind. vidual objects, somewhat after the manner of the present mail system. THE MONEY MARKET. ‘The principal feature in “he money market is the reported gain to the associated banks of $133,000, making the sum total of legal tenders which they now hold $37,233,000, On cali loans the rate was 7 per cent, currency and gold, with exceptional transactions at a commission of 1-32, Foreign ex- change closed steady at 1077 a 103 for prime bank- ers’ 60 days sterling, and dull at 1087; a 109 for de- | mand, THE GOLD MARKET presented no salient features of interest, and prices in the absence of any important information declined. The opening figures were 108%, from which point the market continued to sag until 10834 was reached, when there was an advance to 108% and a close at 108%. The carrying rates were 1- 7 per cent, currency and gold. The operations of the Guld Bank were as follows:— Gold balances, ' $1 385,280 Currency bal: . 71,617 Gross clearances... * abieoe! 000 GOVERNME’ NDS followed the course of gold and were somewhat weaker. We quote as closing prices the follow- ing:—United States sixes, 1881, registered, 114% 9 114%; do. do., coupon, 117% 211814; do. 1862, registered, 11034; do. do., five-twenties, coupon, 110% 3111; do. do., 1864, registered, 110% ; do. do., coupons, 112; do. do., 1865, registered, 1105, ; do, do., coupon, 1125; a 112%; do. do., new, 1153f a 116; -do., do,, 1867, registered, 112!;; do. do, coupon, 11644 @ 116%; do., 1868, coupon, 116%; ten-forties, registered, 109}; @ 110; do., coupon, 109's; fives, 1881, coupon, 109% a 110; six per cent bonds, Pa- ciflc Ratlroad, 100% a 10975. THE FOREIGN MARKET. In consols and American securities little was done, the former being weak and the latter un- steady. The Bank of England gained during the week £627,000, which in part accounts for the re- -duction of its rate of discount from 6 to 5 per cent, Jt appears, however, that notwithstanding this in- crease of speoie, the rates of reserve to liabilities 28 three-quarters of one per cent lower than it was Jast week. the closing prices were as tol- Jows:—Consols for money, 91% & 92; consols for account, 92% a 92%4; five-twenty bonds of 1865 (01d), 93% 2 035; do. Of 1867, 98a 9814; ten- Jorty bonds, 917¢ a 92; new fives, 92 29215; Erie Railway shares, 38% a 38%; New York Central shares, 77%. The rate of discount in open market Jor three months’ obilis was 4% per cent, or % per cent below bank rate. Rentes at Paris were steady at 60f. sixty-three thousand = pounds went into bank to-day In Amsterdam prices were as follows:—Central Pacific first mortgage bonds, 8134; Union Pacific frst mortgage bonds, 69%; Union Pacific stock, 24%; Northwestern preferred, 62%; St. ant pre- terved, 64; Erie shares, 42, THE UNITED STATES TREASURY, ‘The customs receipts for the week ending on the 20th of November were as follows :— B ag 280,45 New York. Det a8 Philadelphia The Treasury balances at the close fy busi- hess to-day were:—Currency, $5,250,000; coin, $83,000,000; certificates, $30,250,000; outstanding legal tenders, $36%,500,000; Increase since the 1st, $1,000,000, The internal revenue receipts were $263,000, SOUTHERN SECURITIES were steady, with no transactions save in Missouri 8x08, Which are quoted at 90's, and Tennessee new eixes at 74, The following were the late vids: YW YORK HERALD, FRIDAY, DECEMBER 5, 1873.—TRIPLE _ SHEET. ‘yennessee sixes, old, 74%; do. do., new, Fe ‘Vir- ginta sixes, old, 34; do. do,, new, 40; do. do., congohdated, 49; do. do., deferred, 9%; Georgia sixes, 65; do, sevens, new, 85; do. sevens, en- dorsed, 70; North Carotina sixes, old, 23; North ar- olina, issued to North Carolina Railroad Company, coupon, 30; do, special tax, 9; South Carolina aixes, 22; do, do., January and July, 9%; Missouri sixes, 903,; do, do., Hannibal and St. Joseph issue, 8724; do, do,, Asylum or University, 86; Arkansas sixes, funded, 30; Arkansas sevens, Little Rock and Fort Smith issue, 17; do. do., Memphis and Little Rock, 17; do. do., Little Rock, P. B. and New Orleans, 17; do, do., Mississippl, Ohio and Rea River, 17; do. do,, Arsansas Central Rairoad, 19, RAILROAD BONDS were strong at the opening and well sustained throughout the market, Central and Union Yaoifics advancing. There were also considerable purchases of Alton and Terre Haute preferred, the recent report of the company furnishing encour- agement in the shape of substantial earnings, which 1t is said promise a dividend. We note sales of New York Central sixes of 1983, at 90; dos, 1381, at 90. Lake Shore, dividend bonda, at 90; Central Pacific, gold bonds, at 93; Union Pacific, first, at 80 a 803% a 8014; do., tens, at 6744; do., sev- ens, 714%; Hannibal and St. Joseph, eights, con- vertible, at 77; Delaware, Lackawanna and West erm, second, at 9853: Toledo and Wabash, first, Lows division, at 82; do., equipment bon Js, 1044; Pittsburg, Fort Wayne and Chicago, first, at 108, Ohio and Mississippi consolidated, sinking fund, at 8944; do., second, 7344; Pittsburg, Fort Wayne and Chicago, second, at 97a 9714; St. Louis and Iron Mountain, second, at 73; Chicago and Northwest consolidated coupon, gold, at 80; Mil- waukee and St, Paul sevens, gold, 8254; do. eights, first, 101; Cleveland and Pittsburg, third, at 96; C., and I. C., second, at 61, ie following were the bids as amended by the | sale: New York Cen Ie ie hy Ran & Ft Jo te. Han &StJo 8's, con Del, Lack & W Ist m Del, Luck & W 2d ma Tol & Wat Ist mex Tol & Wab Ist mst L. To. & Wab 2d ae BF ‘Vol & Wab equip bas, Gt West Ist m a nm con'm & 8 £63. & Susq 2d bis. NJ Cen ist m, new Pitts, bt W & Chic b Bitte, We Wa me & Pitts dtu im & Alton s & Aiton 181 ll 2 & Alton in wg Ohio & Miss cov B's Ohio & Miss c% 83, Ohio & Miss xa Bt Louis & 1M St Louis & UM 2d Mila st Ss,lat mn, PDL & SUP 7's, gold, RD 8214 Mil de St Ist Lac 3) TAMD 75 iit Bose i 80%q 2d m OL Tol; Peoria & War, iD 6 ab hpearn a War, WD 60 tate aid bds,. oitic bds.... 74 Chic & N W exten Chie & NW istin, 5 i Chic & 9 W coug bds.. 80 Cedar F & Mina ist in. THE STOCK MARKET was not so steady to-day as usual, and prices suf- fered a reduction, which disappointed nota lew who have counted on much higher figures. The tendency was downward, and the early steps of the movement were shown before and immediately after the second call, when the decline ranged from }4 to 2/4 per cent, Subsequently there war a recovery: in some of the ieading features, which induced the hope that prices wouid be stronger to- morrow. The best business was done in Western Union, Lake Shore, New York Central, Pacific Mail, Northwest common, Union Pacific and C., C. and J, C, One or two transactions were made in Erie, but they were not encouraging, Evidently some unpromising news has been received from abroad, The prevailing impression is that several of the largest operators in the recent rise have unloaded and are prepared to take another tack. Many of the speculative influences of the day, especially during the rallies, were occasioned by reports from Washington of the in- troduction of sundry bills suggestive ol further inflation, It is a question whether much of this Congressional buncombe 18 not displayed in the interests of Wall street, and by men who have something at stake in the various small poois that abound, HIGHEST AND LOWEST PRICES. The following table shows the opening, highest and lowest prices of the day :— Opening. Highest. Lowest. N.Y. Cent. and Hudson River stock cons’ved.. 931¢ 934y 923g Hariem. Erie. Lake Shor 119 8g 119 Fort Wayne Milwaukee and St, Paul, 38 Mil, and St. Paul prei.. 59 Ono and Mississipph., New Jersey Central. Union Pacific...... and Ind, Central. Pittsburs.. Western U Pacific Mail SALES AT THE NEW YORK STOCK EXCHANGE, Thursday, Dec. 4—10:15 A. M. Sem 8 6's, 131, ¢ C65, n NG 13 i a1 5000 US 6's c, "BL..be 1L9% 8000 do... © 10 10 A. M.—Before Call. a ais On Fae BR NWRE i 0 sth 2900 US 5.206, a | 65, n.b © 09 sha West Un Tel du of, La W. KM. thw Pac St 88 ¥e¥e seyey: Board—10:30 A. M. 400 she Mii $100 NY Con 6's, ‘83. HOW) NY Cen 68g !87 10 Miseourt Ws. D@ B00 da bhore div bbe TY Can soutie Istm, WO de we 100 Cen 7 10 a0... a 9% Wo do m™* 10 Si oo © a i 120 ie 101” 180 o 1 sl ae : i 8 ” ret * tot iat i x SISISSSES: re a ee B EESS SSc8e eet ip Erie irae 106 tiarien 0. 100 Pac M53 300 do | | P. M.—efore Ca! 20 shs LS & MS BR EF ee =) * re SSS yeresssh <5 ert he iw lo. 20) Chi & Alt Kt 100 Chi & Alt RR pf. Sw, Cal ORK, 100 di RSS ERAS: ae <i: Ea REE: $600) Tenn 6's, new. R wns nintnrasntaraa: PST ETE ESE SS Serer is Panena rn 1000 West Un 7 eeveee We ont & Ai 2b Alt d& T i SD wel. rie Whit, be {box Y ce 20) Pac £, 200 On > & Mise 1618 20) Erie! lwxYC aii WRR.US CLOSING PRICES—3 O'OL9CK P, M. Del, L & West... 9 OHV aN Wo...) 486 (hi & NW pret. 2 New Jer Cen = happens... ite elt Ohio & M « pi eeeeeeeee PEPEER- SERED “ COMMERCIAL REPORT. cba Gustinnannattn Active and Firmer—Flour Dall Dull and Lower— orn Firm—Oats Easler—Pork Un- nged—Lard Quiet, Firm Coffee Active and Firm—Sugar Market | Very Strong—Fre is Steady—Petro- Jeum Dull and Unchanged=Naval | Mores Quiet and cady—Whiskcy Quiet and Lower. | TueRspay, Dec. 4-6 P. M. | Corrun.—The market here has been quict, but | Very firm, From the out ports an active business | Was reported at Mi prices. We mote sales of 505 bags Kio, ex Ontario, bere, at 2uc.; at Baltimore, 3,470 bags, ex Limos; 2,440 bags, ex Robin, on pri- vate terms; 3,000 bags, eX Paladine, at Wye; at New Orie: 4,470 bags, eX Harry Stewart, on pri- vate terms, The stock this Cate other than Rio, 1,865 bags, We quote:—Rio, ordinary cargoes, We. a WORe.; fair do, Ihe. @21Nc.; good do, 22K, @ 23¢.; prime do,, We. a WAC. ;*Oktreme range for lots, Myc. @ We, gold, per ide 6 and aya’ credit; bags, 2736c. @ 28),¢.; do., grass mata, 27}4c, & Singapore, 2c. a 2ie.; Maracaibo, 23)¢e. a 2e. ; Laguayra, Ze. a ie. ; Jamalea, Who. 'e. ; St. Domingo, Ie. a 19}. ; Porto Rico, tle. a Zige.; Costa Rica, Zl. w 23!40. Mexican, 2c. a 2c.; Suymnilla, Bo, a %e.; Curacom, ‘he, atic. Cortom on the spot was fairly active, The appended quotations, show au advance of 4c. per tb., at which the market closed quiet, Future deliveries were in fair ro- quest at 3-16c, ac. per Ib. guprovement in prices, We quote — dave ER ! —4 | UpAanta, Ordinary. We Stiiee e004 ordinary 185.16 Low midaling: 3% 6. Middling....... 16° 16 rood unkddinmg. 22°. 1758 ne ah, My —The quotations are pased on cotton in store running in quality mot more thau half a grade above or below the grade quoted. The sales were :— To-day. Last Boe'g. Totat, Export... as ie 1,394 Consumpti Lotz 6,905 Specuistiol 4 1 Totals........... . 166 2.003 4398 Included in the above are 1,50) to arrive. For future delivery (basis low middling) the sales have been as fol- lows:—Last evening, after three o’clock—December, 100 atldge.; January, 100 at + 80 wt US 19-320. ; Febru- ary, 300 at 1516 l6c.; March, 200 at 16%40.: April, 800 at 16 1b-l6c. Total, 1,50 bales. To-day, up to three P. mM, December, 100 wt 15%9¢., 100 at 15 13-38c., 300 at 1o2¢c., 100 at 15 15-32c., 300 at 15 15-82c., cy ‘e Lodge, 10 at ITs eo 1a at pas 3. Pp at 15; 200 16 See's 200 at 16 ey ae ib 1i-dbo-e dee 0. wis tat C2) 1,100 t istic, i 15 “i F UM. ac ignje’ Cotal 13,000 bates. cirahu tot nab) bales. The receipis at the Various ports wore as fillowsssiatveston. 2 S22 bal annah, Nortoley aia 1,038; bo: 14" Total, 25626 This dav last ast year, 29,533 Rates on cotton As follows:—To Havre, by steam, l3¢c.; by o Htaniburs, by steam, 034 anarks per fon i ibs, sie ice. by sal, Tae.) Bo Bra by steam, by, ail, Tye. 10 Lavirpool jam, T-l6des Dy oa Wioun ann Guain-ecolpir-Fiourr 15,80 bola. wheat 82,900 bushels; cori, 600 do; corn mea, 35 Dict oats 9,375 bushels; baricy, 500. do. ‘Phe flour market was dull aod heavy. Some grades were placed at_ concessions of The sales toot up 8,600 bbis., inciud- il Kinds, generally at the inside, prices of our quota- Corn theai wad in moderate request, with saivs at $3 © a $375 for Western, $415 a 1 $4 4 $4 10 tor golden ear, and $3 5d We quote :— panes 375 a 6% - 55) a 70) Choice State...) 2700 w 7h) Superdine Wesicrn +55) a 60) is Western 60 a 675 +67) a BW 4 hoop Ohio; shipping brands 650 a 700 ind hoop Odio, trate brands. 6h a Tim i) we bw” 650 a or TW a 7% St. boul 70 « 50 St, Louts, choice family 8.) a 10 Callioruia. 4 2 Nominal. Rye flour... » 50 & 6) Southern, No. +430 a Southern, superfine 575 a 6 2700 a 8 650 all ester 730 a & Jersey. Ss a 3 meal, Brandywine 415 a 4 Calorie 380 a 3 Puneneons. 8 00 £. 0. b. —Wheat—the market was duil and from 1c. a 2c. lower, The salos were avout 10,00 bushels at $140 a $1 45. tor Xo, 3 hi pring. $1 19 a $1 47 tor nngrace! sprit $s nd $182 afloat for boatloads ot No. 2M pall iots of do. ‘sto ¢ $175 tor white Michigan, dull and tending downward. Included in ‘ihe 8,000 busheis ot No. 2 Milwaukee, to arrive soun, at §) Corn was a shade easter at the opening, but subsequently closed more active and firm at yester: day's prices. the saics foot up 175,000 bushels at 704sc. a 72, tn swore for mixed and 73e. a74e. for do. atioat, clos- ing firm at 7c, a 770. tor white Western. Outs were in lair request aud about le. lower. The sales aggregate 0,000 bushels at Ao. in store and BSc. auoat tor Western mixed and ste. wie. tor white. Barley und rye inactive. No sales reported, and prices héld nomi- ly as previously quoted. uuigute There has been very little consummated in berth freights today, but rates were not essentially changed. Vessels for ‘charter were in fair request and commanded about previous rates. ‘the engagements Were +o Lavernool by steam, S400 bushels of graiit at 126d. 16,00) do. ot do, at 16) bags of bones at 50s, des ot cotton at 7-164. i ‘it runs, and, by sail, 200 ible ‘of flour to tli at és., and 50) uerces ot beer at Os. 6d. n, 400 bbls. of cottonseed ont at7s. 3d. ‘The char- mbrace a German bark, hence to Londonderry, Sib quarters of grain aids. Xd.) British bark, 475 tori, hence toa Continental port, general carzo, on private hence'to Bristol, 2.3))'bbls. retined bark, hence to a Con- um and products on @ mame Voyage, 4,600 Dbis, of retined petroleum on private terms; a Britisit bark, toarrive trom Philadelphia, to the Un King- dom oF Continent, excluding. Tuten ports, 4,00) bbls, of refined jeumn & ritish bark, to arrive from Philadel ha to Continental port, saine exciusion, 4,50) i petroleum on privitte terns. quiry tor domestics con: ades the market remained petroleum at ts. tinental port, 2,700 por private terins; a ritish bark, lene 1,143 hhds. of Cuba, English islands and New crop—Cuba, clayed, I7c, a Bic, do. do.. grocery. 2 {ish Islands, 290. 0 éBc crop. New Orleans, d5c. a Soc. Nuvat rones.—For spirits of turpentine the market yrs dull, put vaiues remained the suiwe; quoted wt dle. for merchautable order, | Sales 26 b ¢ dtc. and 17 bbls. in vard at 4 Rosin was gulet. Smali lots or strained were obtainable at $2.6) a $2 70 for commen to good, but mo round lots were oftered at these prices. We note ales of 275 bbls. at $2 6, 75 of Which were on the dock. The finer grades were quoted fore. Tar and pitch were neglected and nominal, Pernouecm.—The market for retined was generatly quiet and somewhat irregtlar. Most holders, however, Were asking 15340, for balance of monsl. Salds were re: ported tor Hecember o' Ago., 5000 at Lid. and 1,000 Db1s. at Liye. ik wes Inactive, but | steadily held at Sic was freely bid. Cases were quoted nominally ST ise. “and ‘napntn Shc. The | Philade! be ia market was quiet a stea’ quoted Os tor December delivery ai tor Januar, 1 f00 or the latter month at that price, ‘The mar- | and Values nom | beef. 605 pack- | bbis and. tie an! dull and bomin ual | Dols. sold ket at the oll producing poimts was dull inally the same aa previously reported FRovisions.—Beceipts—Vork, 2.929 bbis : ages; cut meats, 8926 do. ; lard, 745 bi ‘The market for mess pork continued for lots on the spot. Forward delivery atir Atiention and sales were reported of 9H) bbls, ior Febru. | ary at $15, 260 bbls. for Mareh at $15 25, and 40 do. tor do, at $16 50, Bacon—Market act pat firm, Sales boxos of short clear on the doc! da sale re. | ported of & boxes ot Pa at The. ased h. easier; quoted at Siac. fe fer. heavy to Tig! Bigs nt6ho. Beet—he inquir been moderat, but without leading to any Toadderapie: buaitions Lots were atte aout 8h of ages at toll & bbia.; $20 a jor Tndia do. te | and d kgrhchg taal 5 were quoted steady at froin $19 a $28, as ex- | tremés for common to choice. Cut meats met ‘with a | moderate demand, with prices not, essentially change |. | f | Sales were reported of smoked hat i average, AU ile.; LoD) pickled do, at druc: for 11 a lz Ibs. avers, 1,500 pickled Rhoutders at6)cc, and 600 d do at?! | Lard—The market for Western bet firm, | closing at sc. cash: S608 Life fo ecember; Sis¢. 2 | peg januar, le. for Febroary and 3 March. 10 tiere or fe heard of anles of a8 soc. ‘a Ble. tierces for December at 7 750 Werces for do. at Se. ; 40 tlerces tor March on pri terma City was firm “at Se., with sales or 20 tlerces of ately ‘at that price. | Timited, “business was consummated ina job- Shee way, with values ruling stead The sales were about 60 argos of Carolina at 7c. @ 7 ye. or 7c. a 7ige., and 150 bags Rangoon sof Bathigoon in bond at 80 1S a ‘here Was valy a moder ing to the prunes of on the basis of 7%: les of 730 hhied. of & air to. good. We ate terms, 73 hhds, | VF note § of centrifugal at S3,c. and 700 boxes of clayed at Tye. Refined sugar was in light request and quoted as f Jgws Standard, As, 9 C15 OM A'ty M4. 5 Yellow, extta O, Biye.'a fe. hurd, wae. Whit! Greighton & Morrison, in their Gsrcular of this date, sum Up as follows :— Hhds. boxes, Bays, Melado, Stock (ascertained by actu count, imeluding tion) December 1, Receipts since December Totals... 5 Sales since De; this day, December 4, recy (73 187 4,090 | Comparing’ With stock’ De- } ib 13 ++ 20,526 45,651 46,000 = 193 | } F 49,452 202,008 9,107 | | Comparing wit cember 8, 1870 82,662 87,018 820,510 742 | —We quote —Cuba—Refining, inferior w common, 6i.c. fair to wood tain, 76. & Tisc.3 good to Drime, | a TMC. 3 Etvcery, tar to good a centri: sinseoes hhds an do, dc. bby Guba el ard, Rea" oe) 34 18 to Is, 8% 6 ran to 20, oye. a 16! prime to choice. igs and by he} Porto perior, tera Pac, | | Stes RiNe ue dull, In the absence of reported sales | we quote, pomiualls, fe, Low was in Ioderate request and steady. Sales, j 29) bbls. of Western At Tazc, And HON Ibs, of prime at ursxry.—Receipts, 667 bbls, The market was dull | and jawer Sales, 309 bdis,, at Wigc., closing at the H DOMESTIC MARKETS | Ganrestox, Dec Cotton—-Demand fair oe ordinary, 13Jge ed ina j2ige. Net receipts, 3.273 bales. Exports to great Briwin, 2.81; constwise, 130," Sales, ish Stock, 43,878. iw ORLEANS, Dey 4, 1873. Cotton firm; mdatings, tet low middlings, Ie. ; 4, 1873. | good ordinary 4, Net recei ts, Wye bale: | Fi%s. “Exports to. Great Britain, 8,980," Sales, 8 evening, 6,700. Stock, 151,078. Dec. 4, 1873, Cotton tending up: middlings, Toc. a low mid. ro striet good “ordinars ings, Liye. a 18 ide. & Mic, Net receipis, 2008 ales. Exp oMstWise,'2,485. Sales, | 1,200; 1,00) yesterday. Stock, Cotton & et receipts, |i | bales. i France, 3,976, Coma i ARLESTON, Deo. 4, 1873, | cotton strons; midduings, 145-5 low midaiingss if 6.5 strict good ordibary, He. Net receipts, 4,633 bales. ports tu Great Britain, 4,058, Sales, Stock, 49,163. its of tnry EXPLAL | ADDRESS, mission and lawyers’ ween | CALL Witurnaton, N. C., Dec. 4, 187% oh ntine steady at 374¢c, Kosin steady at jor strained, Grudeturpentine firm, at $2 tor hard Sha'es's tor yellow dip. var nel at ty Dee, 4, 1873, i WV | alee he tM Mee Ht g cola TINE rey Printer. $1 for double exten, Whent quiet; white Cannan el i joa si P term autiand Gaethnaudt catse ot CHASE'S SUCCESSOX.. he bu Barley dull; sates oO busbets ait A Hille Choice Canada at $1 6% Corn meal nighe ‘ed, $1 355 Ror ae) reek See blige auchiange ads ‘shorts | Bartber Comments of the Press on that ton. Railroad freighis™ “Four fo ‘piulwaelphta and Boston, Appointment of Mr. Williams. == ~ Wc. ; to New York, We.; to Albany, 420. The journals of the country still discuss they Lake and rail in porta fi bois; whea 0 do. ; om's, 350 tie ‘Western ground 3 it a Pes, ; bakers’, $7 25 ay" winter, white winter, ‘$ a ‘a pevere gain tiis morning ingrid ite ires being out of order but jew transae- gle autwaukes, No, 1. soring ‘wt ho. “Flour quiet; aro Fa red win: 2: whita winter, BLO) abl 10, -G ts bushels No. 2 Weatern a¢ ble. tern rta iH FA at tise. Ac, Barley, wonuini nada, uy a s farses $10 o $I 50; tworrowed State, four sowed ntate, $1 “0. A Malt steady $1 5 a $160; Wesiern, $1 5) a $1 00 Other litlolen an un changed. TOLFDO, Dec. 4, 1473. Flour quiet and anchanged. Whesi— Demin hight; poltere deny amber Michigan, cash, $1 43; No. 2 red, 1 3% Corn dull and a shade lower: high mixed, S3iKC. 5 quar, Obdge slow, mixed, new, sie Gata steatly? No. SOK, eg ete Hels wheat, 21,00 do. corn and eon 6,000 bushels wheas, 5,000 do. corn Onicaco, Dec. 4, ade Flonr quiet and unchanged Wleut ‘steady; So, LL & $1 Ly do. $107, 3/0. nui Clover see bbls flour, 10,000 bu do. oats. qihipmen and 5,000 do. oats active and. hi 2, ste, e firm. ant scarce et ‘and une hanzed: $1025 February. Kulik meats steady Short rib widdles, 6i¢c. : short clear d short ribs, 5%0. “3k AD a $5. Receipts— hels wheat, 30,000 do, corn, 1d 16,000 do, Darley, | Ship: iy wheat, 4,000 do. EUROPEAN M. MARKETS Loxpon Moxey Mann: Consols or money, 92 States fv shares, 39. sontr 1» N36T 4, 9884. Puates thy rie |B shares. 38 Py Railway shares, !87; F.M.—Consols ior money, 91% « 92; tor the 92%. Unied stuies five-twenty Bonds, 186 1887's, 9 Parts Bourse.—Lonpox, Dec. 4—3 P. M.—Paris de- areas rentes at uf, $V. M.—Freuch rentes closed VEKPOOL COTTON Market —Livexroor, Dec. 4—6 P. M.— Sales on the basis of middling uplands, nothing below good ordinary, shipped November, at 5 shfyped November and December’ at 85 the ‘basis ot middling uplands. nothing Middiings, dehiverabie December at + .L0c. is quet and unchanged § 12,00) bales, ineinding for sreculation aud exnort. Sules on the busts of Middling uplands, nothing Lelow good ordinary, shipped November at 8 61d. Cotton to” arrive, 1 io Sales on the basis of miidling upla ordinary, shipped L it doliverabte, tings, shipp dio. do., shipped Dec ron viddhing uplands, Bed. ; midd ine Sad. 6 ales to day were Ame ca Dec. Kirnrooy Baxausrorts Manaer. -Eivunrool, P. M.—The market for breadstufts ix quict. Livamroon Provisions MARxir P. M.—Bacon, 10s. 6d. per ewt. for 1 Beet, 89s, per tierce for new me new mess Bacon, 48 per ev envoot Proover Mark Refined petrolem Linseed oil, Ox Puonuck, Mauxe Cuicurtr Linseed, pirity turpentine ope 31s. a 3is, 6q., and velo at'Sis.a Seed. perewt. Lin: seed oll, £80 per tor Pitucueuw Maweer.—Anwene, Deo, Petroleum, &30 for fine pale American, A A & BAZ « way and No, 9 New street. on commission, on margin or ior ipvesiment. Stock aud Gold Privileges negotiated. A. MANUFACTURING, CONCERN, | ESTARI ISHED 836; assets over $3C0,00—Competent, retinble per son, pels $20,000, can command, through adver tiser, the fnancial management this business tor owner. Address 1 Id office. PARTY THAT CAN LOAN 83,00 OR $4.00) ON security and can keep books, wanted immednately ; food salury. Address SECURITY, Herald Brookiyn ranch ofice, Furst, MORTGAGES BOUGHT AND SOLD. LOANS negotiated by J. A. HOYT & CO., 38 Wail street. NOR SALE.—ONE SHARE OF BLOOMINGGROVE Park Stock for $225; cost $45, Address Win. FisKGU- 257 Broadway & BRAINK, BROK 11 BROAD STREET, old tor cash or on mars negotiated on responsible firms, which place of cash margin; this enables any one pital to speculate with littie risk. Explan- ulars mailed. 1FE FSTATE.—ADY. SER, AGED 48 WILL is his life estate in $12,000 for @ fair sum in cash, For Particulars and iuterview address LiFis ESTATE, box 13) Herald oiite ASKINS _ Sti els and Gold bought and SUAPSLEY vi BAZLLY, “BROKERS, BROADWAY. TNION TRUST COMPANY, OF NEW YORK. Notice 18 hereby given that the Union Trust Company will resume business Mond: Bek December 1, I RD KIN TANTED—$10,00 ON G, ‘Presidents VW CUMBERED “MAD! ON avenue Lots worth $40,000; prefer to negotiate with principals. L., box 442 Post office. ‘WARXTED—ON CHOICE, NEAR BY NEW JERSEY proved property, n oan of $8,000, Principals ad- dress: ki NER, box 152 Herald oMtee. E CAN MAKE LOANS ON FIRST CLASS IM- proved on fee or purchase first mortgages on unimproved real i SAWARD & LEAVITT, ot Wall street. $500 WANTED of $25carh given, Address 1A’ months, on good first clams © & bonus kA. M., Herald Uptown | Braveh office. BROOKLYN Prine 3.500 TO LOAN-—ON CITY OR D0) improved Property, first mortgage. 78, Herald office. (36. only address, BONU 810.000, Bar a'®,, 809 7%, FRAN oid and ‘mortgage on New’ York in: proved Propert teluss. One ber cent com, z JLEN $14.000 worth $35 Herald Site.” $15 000 TO $20.00 TO LOAN ON FIRST CL improved city property. JOHN SHIRLEY 81 Ceder street, room 5. $70, 000 3 TO 1, AND FOR INVESTMENT IN i mortgages, on improved Sad unimproved «$20,000 for Brooklyn, F. BARTLs 3, 66 Wall street. ER & LAUREN ‘50 Pine street. WANTED—ON FIRST MORTGAGE of aplenuid brown stone House and lot Principals only address GiLT SUMS TO SUIT, ON es, bond's and the same dD, 69 Liberty suit For Second Mortgages treet. $113,000 estes 22. cashed sree tonable discount. PAL N # SLOAN, 3 East Sevenicenth strect. — MUNICIPAL AFFAIRS. Board of Aldermen. The Board met at the usnal hour, President Vance in the chair, The minutes of the previous meeting were read and approved. Alderman J. J. Morris called up the message Of Mayor Have meyer of May 16, in which His Honor nominated Messrs. | Wyllis Blackstone, Thomas B. Tappen, Jonn P. Commings and Smith K. Shaw, Commissioners to provide for the fnal completion of the new County Court House of the city of New York, pursuant to | section 11 of chapter 382 Laws of 1870. Alderman Morris moved to confirm the first name, on which Alderman Monheiiner calied upon tue Clerk to read chapter 760 of the Laws of 1873, which treated on this sunject. Pending a reading Alderman Reilly | moved to lay the bject over until the speci meeting to-day, which was carried. The board then Sjourned, Among the spectators present were Police Justices Bankson T. Morgan and George EK, Kasmire, and Mr, Salem H. Wales, President of the Park Commission. ese Board of Assistant Aldermen. A special session of this Board was held yester- day, @ bare quorum being present. Tne only transaction of any importance Was a motion to | reconsider the resolution authorizing the Mayor to offer a reward of $5,000 for the discovery and con- viction of the party or particggrbo sent the infernal machine to the Comptroil on the 26th ult. On Motion of Assistant Alderman Healey, the resolu- tion was adopted, Assistant Aiderman Simonson ‘was not ready with his report on ordinance, but will present it on Monday in fll. The Board adjourned withuut transacting any important business. OITY AND COUNTY TREASURY. Comptroller Green reports the following dishurse- ments and receipts of the treasury yesterday :— Claims |g number of warrants 66, amounting to.$54,620 Pay rolls, number of Warrants 402, amounting to... SM ead Total number Sverre?” A! ~~ to.. $120,54 From taxes of 1873 and interest.» “if From arrears of taxes, assesst: oul From coligction of assessments ai os} ts 2309 ‘el ss 1) a 56 From licens rors From fees and fines. Cor From tees and fines, D' TOAD cee eeseeereeey fet Courts... m4 | a FIRST | merits of Attorney General Williams for Chief Jus~ tice. The say! ina unable appreciate, ‘dat they serve to re- lieve the dull monotony of our public affairs, The Worcester (Mass.) Press thinks the appoint~ ment is @ worse move than the public were preparod to expect, evon from Grant. If the President had conferred this position om some relative of the Dent family, or evea upom the stately Senator from New York, as Was proposed by Mrs. Grant, the publia would wave been tn nowise surprised. The public have long ago stopped asking as to the why of Grant's appointments; but the recson for pasa- ing by 80 inany able men and ay pointing George H. Wilhains to the high office of Rhiet Justice wile rematn lor some time a subject of meditation. ‘The Springleld Hepublican (republican) charac terizes the nomination as “Grant all over,” and says :— Whatever his defects may be, the new Chief Juse tice has uegaiuve qualifications that, in these latter days, have acquired a very positive value. He i heither @ corraptiontat, nor asot, norarake, He is at least as hovest as men average in this bighly oxygenized atinosplere of ours; ae las never out raged the pubiic sense of decency; 1a an impure cily he has led a pure life. The Boston Post (democratic) says:— Mr. Williams is not aman of mean ability. on the contrary, he has filled one or tw» subordinate judgestups with tolerable acceptation, and has proved himself a goou consulting lawyer, tu short, he occupies u legal level upon Wuicli hundreds of others in the country stand, but he possesses hardly @ stugle one of those marked qualities which should distinguish a Chief Justice. The Cmetnnati Enquirer (democratic! Grant has tonnd a Chief Justice. He might never have discovered him if he had not previously made & remarkable discovery ol an Attorney General. But ry man Can discoverNitness wherein fit- xist and Grant is no ordinary man. The Boston Globe (republican) believes that “it will not be preten that the new Chief Justice ts the peer of such judges as Hoar or Curti: or is such au able or erudite lawyer as Mvarts; bul What we kuow of Mis past career justifies us in be- leving that he willmake a very respectable Chiet Justi The Potsville Miner's Journal (republican), re- ferring to bis appointment as Atiorney General, remarks :— y At the time the appointment was quite poputar, Germantown Chronicle (independent . | but tie duties of the position lave not been dis- charged tu # manner which bas indicated that Mr. ‘| Willams is tue best man in the country for the | eXailed position to which he 1s now to be ap- pointed, ‘Lhe Washington Chronicle (republican) says that itis not doubted that Attorney General Williama will make an excellent Cnief Justice. Says the Chambersburg (Pa.) Spirit (inde- | pendent) the country was not prepared for this. ‘The odor emitted from the Attorney General's office since Mr. Williams’ entry upon its duties has been any- tiiing but sweet, and it was not expected that to him would be’ addressed the mandate, “Go up higher.” The President will tail, in tnis selection, to meet the demands of the people. The Scranton (Pa.) Times (republican) says:— The appointment of Attorney General Williams ag Chief Justice oi the United States Supreme Court is a much better one than we had expected. Judge Williams is a sound lawyer, and we believe his vate character is unstained. It is hardly probable, however, that he has the Knowledge or ability of some who will be his associates. This red ,hot broadside is trom the Syracuse Courier (democratic) :— The verdict we would render on the appointment of Attorney General Williams to be Chiet Justice is, it might have been worse. We have come to lool forward not without apprehension to any act which is lett to Grant to periorm, which involves grave eed interests. We ought to be thanklal that he didn’t appoint @ horse jockey or some other oi tis kindred spirits, We have especial reason! lor thanksgiving that he didn’t give the place te brother-in-law Casey, brother-in-law Dent, Bem Buuler, Ackerman, the drunken Durell or some one else of thatilk, Let the country be deeply grateful considering that there was a Chiet Justice to be appointed and Grant had the nawing of him, that 1t bas got Of as well as it has, The Newark Register (independent) feels that— ‘The President has done in this matter what pleased himself, as he usually does, He has passed by the better material and taken an interior and cheaper article. We ieel that he has done the Bench and the Bar an injury, and one that is not transient or of a nature to be compensated for, but an injury well nign irreparable. The Buflalo Express (republican) believes that— Mr. Williams is a plain, quiet man, of good bat not brilliant abiity, who will make no seriou | blanders, and will do his work taithfully, but will not add especial lustre to the high place he occu- pies. Inferior to Chase and Marshall, he is prob- ably the superior of Taney, who was General Jack- son’s Attorney General previous to his appoint= ment, as Mr. Williams was General @rant’s, The Providence Press (democratic), says:— From Chief Justice Chase to Attorney General, Withams! The fall is too sudden. A decent re- | spect ior public opinion should have prevented” | such a deterioration of the Supreme Bench ot the nation. ‘The Cincinnati Times (republican) remarks :— His fitness for the position will not be ques» tioned vy any one who is sufficiently informed aa} to the standing oi our most prominent public men. | to have an intelligent opinion, | The Boston Daity News (temperance) | speaks :— f Mr. Williams will, we have no doubt, fill the of- | fice with credit to himself and the President, , whose selections 01 men for important offices havel | generally proved judicious. | The Petersburg (Va.) Jndex (democratic) con- | siders the appointment one eminently unit to ber | made, ana declares :— President Grant has a remarkable genius for finding out the worst people possible for the offices, at bis disposal, and this ms last appointment’ uifords us an additional illustration. Tne Newark Journal (democratic) says, ander the head of “Getting His Reward” :— ‘The most conspicuous public act of his life was, | his treatment of the Louisiana usurpation, when he sustained Pinchback and his Pinchback govern- ment, which @ majority of the Senate committee refused todo. ‘Brother-in-law” Casey was vitally | interested in the sustaining of Pinchback first and Kellogg alterwards. thus FUNERAL OF OFFICER BURNS. | Impressive Services snd Large Attends ance. The remains of the late Officer Edward L, Burn® | were conveyed to Calvary Cemetery yesterday and placed in their last resting place. Atabout eleven. o'clock in the morning the coMn, containing the | body of the dead officer, was removed trom his residence, 69 West Thirteenth street, to St. | Joseph’s Church, on Sixth avenue, accompanied by a guard of honor from the Eighth precinct. The ) Commissioners of Police, Superintendent Matsell, and Inspector Walling, who arrived at the church about half an hour previously, received the brave. | dead and conducted the casket to the centre aisle, | where it was deposited. Almost 28 soon as’ thet | comm was placed on the stand the organ pealed | forth, and the solemn services were begun. The | enureh doors were then thrown open to the public,, | and in a few minutes the vast edifice was filled. | Nothing could be more impressive than the scene in the church as the choir broke out with thoy | “Kyrie.”’ The whole interior was hung with biack., the vestments of the clergymen were of the sama shade, and the greater part of the people in they qalleries were dressed in mourning. On either side of the centre aisie were seated the police of | the Eighth precinct, and at the head of the comin, divided in bodies, Pav the Commissioners of Police. A deatne, like stiliness prevailed for several misonss) nee the cofiin entered the sacred house. Tne Iriends and relatives of the deceased were conducted to; places near the remains and the services Went Om; ¥0 the point at » which the pastor of the church, the; how wetter ell, ascended the pulpit, He Mnatie atouching and Appropriate address, highly, the police and warmly appreciative or Shetes pervices ne ne. community. After aa the body was accompanied to the cemetery So z toree Ls police under command oe ol Dermott, detailed for the purpose. followin is the order in which they moved :— Ten Mounted Police, under ee of Sergeant West=; | Police Commissioners, im, ander ( Matsell ans Superintendent Matsell, and ‘ompani % men each Command oh Anepectar Pou © ol bla a Ce ey an . suPrrounde ue coe under, command of Captain | jiams and four sergeants. | Carriages of Relatives ani Friends, The route taken was through Waverley lace, Broadway, Bowery and Kighth street to the ferr; a ‘The $500 sent to the Police Commissioners and $1,000 due the family from the Policemon’s tun Wwiil be handed to the Widow of the decaased by ti Commission rs n ott \