The New York Herald Newspaper, December 12, 1873, Page 9

FINANCIAL AND COMMERCIAL THE ATTITUDE OF THE GOVERNMENT Wants of the Inflationists and Arguments . Why They Shall Not Be Supplied. THOUGHTS FOR THINKING MEN. ‘There is Danger in iad ‘ek Misfortune in Yielding to Ignorance. A DOLLAR IS A DOLLAR. Real Money the Test of the Situation. "THE STOCK MARKET TO-DAY ‘Gold, Government and Railroad Bonds. ALL Sraner, i} THURSDAY, Ye . . MJ if the public may judge from the at couriers went forth by the Senate ol the United States and ‘the speech of Hon. Charles Sumner, the danger of Anflation is neither present nor prospective. There jare undoubtedly a score or two of active plotters ‘from the West and Southwest who, pledged to their ‘constituents, will make urgent endeavors to se- ‘cure a larger volume o! currency, although it be at ‘the cost of financial havoc, but we have good rea- on for the statement that the government and its advisers and supporters are committed against Surther expansion. And what are the reasons? First, if we cannot now pay our $400,000,000 of promissory notes, we certainly cannot be helped "to pay them more speedily by adding to their num- er. Recognizing the fact that CURRENCY IS ONLY A MEASURE of values, and that the accuracy of that measure depends entirely upon the convertibility of the currency into that which is the measure of values Fecognized by all the world, we do not see how we are to be benefited by legislation which renders the currency variable iu value from day today. A yardstick is a useful implement, because every- ‘body knows exactly what it means and what it ‘measures, A dollar or an eagle is useful in the same way, because it is a measure the use of which everybody knows. But if that which we call “a dollar’ means to-day one thing and to-morrow another—as will always be the case with a cur- rency non-convertible into values recognized as standard by all men—then AN ELEMENT OF UNCERTAINTY 43 introduced into the business relations of the country, making derangement and discord every- where. Only that man, therefore, who disregards all experience and ignores the teachings of all his- tory will advocate any action which hinders the earliest possible resumption of specie payments. Fluctuations exist even in the value of tne precious metals; but experience has shown that these fluc- tuations are less than those of any other com- modity having the proper requisites for a measure of values. To the gold standard, therefore, we must bring the value of all our issues of paper if we Would avoid FINANCIAL STORM AND PANIC. Secondly, it is perfectly natural for the debtor Glass to desire to have the figure, standing against them represent smaller actual values, as they certainly wouid if our paper issues were in- creased. During the late war very little was thought by the Southerners of carrying a burden Of $10,000 or $50,000 as a representative of their debts in Confederate currency whenever such kind of payment was accepted. So, at the present time, shrewd and not over nice men who are in debt would be glad to depreciate our own currency, totheend thatthe process of paying these depts may be made as easy as it used to be in the South in 1664, But that any man who Is 1n @ sound finan- cial condition should think it an aavantage to have the ‘figure’ which represents his property doubled, when its “value” for exchange into other commodities remains the same, is past compre- hension. Congress will have its ‘sober second thought” upon this all important subject. Already the rampant demands ot . MEN FRESH FROM THE BACKWOODS Rave yielded to somewhat of common sense, and the party is said to be diminishing who, forgetful of the laws that govern trade, have sought by sundry wild schemes generally, but ignorantly put, forth, to change the current on which the ship of State 80 successiully sailed since the close of the war. Of course here and there will be founa a man who believes that the government can coin “money” out of “lampblack and rags” and that the product ts “real” money. The fools are not all dead yet, but, thank the Lord, they are in the minority. THE STOCK MARKET. The stock market, while active, was not so profit bie as to call forth much comment. There was much of realization. There was more of ‘“wash- ing.” It mayor may not be true, but the state- ‘ment was given to the writer that, out of 80,000 shares “reported” as sold, jess than 13,000 repre- sented actual transactions. If these are tacts— and we are collecting the evidence—either Peter Fenk or Buchu has reached the recesses of the Stock Board, and the institution is going to the bad. It is time forreform. More than one infu- ential operator has already expressed his opinion, ‘The balk of sales to-day was embraced by Pacific Mail, Lake Shore, Western Union, New York Central, St. Paul, ©., C, and I. C. and Ohio and Mississippi. ‘The leading feature was Union Pacific, the managers ofthe speculation in which are understood to be cautiously realizing. Of course it is dificult to ob- tain the facts, and they can only be reached sup- posititiously by watching the moves on the chess- board of the Stock Exchange. The machinery has many strong pinions, and they revolve ovedient only to co-operative instructions, It is reported that the Lake Shore and Mivhigan Southern Rail- road Company propose tie issue of a second mort- gage series of bonds for $25,000,000, with the object of paying off the floating debt and “other pur- poses." We have alreacy descrived the manner in which some of the great railroads ‘are meeting their obligations, and this action of Lake Shore only affords an additional illustration. Paper debts seem to be the order of the day. The ‘mortgage is now being registered in 30 diferent ‘counties through which the road passes. The foat- ing debt referred to embraces $4,500,000 and 94,000,000 debenture bonds, The remainder when obtained is to be used for finishing the double track and “other purposes.” When this mortgage 4s issued the capital and debt of the road will stand 25 [ollows:—Capital stock $50,000,000, consolidated bonds $25,000,000, and second mortgage $25,000,000, makiog & total of $10,000,000. No additional fail- ures were reported to-day, and that of Messrs. R. ¥. Herrick & Co., reported yesterday, hus scarcely made a ripple, inasmuch as the firm are ‘understood to be surrounded by friends whose influ: ence, aid and practical sympathy will speedily ena- bie the.house to resume business, The tatlure of a ‘Wall street man whose whole career has veen marked by honor often develops bis grandest strength, and when as in the present instance, ‘shat of Grinnell & Oo., and others whose names are familiar, events and not impradence compel tem- porary misiorwune, both creditors and public judg. ment are generous in their scrutiny of causes and resulta, THE UNITED STATES TREASURY, The balances in the United Stat the lose of business to-day we $960,000; coin, $85,250,000; certificates, $11,500,000 outstanding legal tenders, $872,056,000; increase @ince yesterday, $566,000. The customs receipts NuW’ YORK HERALD, FRIDAY, DECEMBER 12, 1873—TRIPLE | SHEET, ‘Were $308,000, The revenue receipts were $207,029, ‘The Assistant Treasurer paid out to-day $82,000 on account of interest and $166,000 im redemption of five-twenty bonds, GOVERNMENT BONDS closed strong at the following quotations :—United States sixes, 1881, registered, 114% a115; do. do, coupon, 1183, @ 118%; do. do., 1862, registered, 10%; do. do., five-twenties, 1862, coupon, 1i2a 1124; do. do., 1864, coupon, 114% @ 115; do. do., 1365, registered, 11334; do, do,, 1865, coupon, 114% 115%; do, do., 1865, new, registered, 114 a 115; do. Go., 1865, coupon, new, 117% a 118; do, do., 1867, registered, 11434; do, do., coupon, 1867, 118 a 1184; do. do., coupon, 1868, 11734; do. ten-forties, registered, 110%; do. do., coupon, 111; fives, 1831, coupon, 110% a 111; six percent bonds, Pacific Rautroad, 111%. RAILROAD BONDS, In railroad bonds there was a moderately active business, and quotations show but very little change since yesterday, A smail lot of Canada Southern firsts changed hands at 64, The latest bids were as follows :— york Con 6's, 187, 88 1, LAWT'S, COM... ‘Vol’ & Wab Ist mex... 94 st D ie Ist m Erie 2d m 7's, Erie ddim Erie 4th m. Long Dock bond: Hud & 7's, 2d m8 f, No Cen int m new Pitts, Ft W & Chic Ist Ritts, PEW # Ohic Sd mo 9 Mich ( Mich so ik 2am... Mich So & NI £7’.p.c.1M Oley & “ Lake Shore div bds. Luke Shore con c bd Luke shore con r bds. cold ds. sion Pac As fold, RD 82 nion Pac lg 7 a6 1, Lacd 9 pi mire 7 ‘YH Istin, Ata twa Ist mo eM i Chic & NW 1 Chie and NW int bis & tnd C lst in a Chic & con bd » ED. Chie & 8 Wastin Peoria & War, WD Y&N iH O's, ie Rowse E ist Gaur F& Minn Ist ii. Han & THE MONEY MARKET, Money was comparatively easy and could be nad on call at from 7 to 5 per cent. Business paper is in good demand at rates last qnoted—to wit, from 9 to 12 per cent for prime names and 12 1015 for second class. Considerable sums from the banks are beginning to find their way to the Stock Exchange and are entering into the old round of speculation. Foreign exchange ciosed firm, with business at 108}¢ for prime bankers’ sixty days sterling, and 10934 for sight. Commercial bills sold at 107% a 108, THE GOLD MARKET. Yor the moment gold is steady, but it will not be surprising if a sharp movement should shortly take place as a consequence of the requrements of the Treasury, the now known weakness of which will necessitate arrangements for certain gold pay- ments that must be made by the government on and after the ist of January. No government like ours can afford to be denuded. The prices to-day ranged from 109%% to 10954, the closing price. The rates paid for carrying were 7,6, 5, 4and3 per cent. The final rate was 4 per cent, The opera- tions of the Gold Exchange Bank to-day were as follows Gold baiances.... Currency balances 1,899,814 Gross clearances. 24,644,000 CLEARING HOUSE STATEMENT. $68,9: $1,103,996 Currency exchanges..... 942 Currency balauces. 201,081 Gold exchanges. 91,768,453 Gold balances, 403,647 SOUTHERN SECURITIES were dull and without any feature. The sales were coniined to Virginia consols, 5,000 of which changed hands at 503,. The latest bids were as follows:— Missouri sixes, 92; do, do., Hannibal and St, Joseph issue, 90; Tennessee sixes, old, 7814; do. do., new, 7834; Virginia sixes, old, 35; do. do., new, 40; do, do., consolidated, 5035; do. do., de- ferrea, 944; Georgia sixes, 65; North Carolina sixes, old, 25; do. do., issued to North Carolina Railroad Company, coupon, 35; do, do., funding act, 1866, 16; do. do., special tax, 12; South Caro- lina sixes, January and July, 1144; do. do., sevens, 1888, 15; Texas tens, 1876, 82, THE FOREIGN MARKET. The Bank of England rate has been reduced to 4% percent. To-day is the ticket day, and to-mor- row the usual fortnightly settling day. The rate of discount in the open market for three months’ bills is 4 per cent, or 3s per cent below the bank rate. Bullion in the Bank of England increased £618,000 during the past week. The proportion of the bank reserve to liabilities, which was last week 45% per cent, is now 483g per cent. Consols for money, 91% 2 92; for the account, 924, a 92%. The upward movement in American securities causes increased activity in the market. United States five-twenty bonds, 1867, 9844 ; ten-forties, 9214; new fives, 924;; Erie shares, 374; New York Central shares, 793, a 79%. The quotations in Amsterdam are:—Central Pacific mortgage bonds, 81};; Union Pacific first mortgage bonds, 72; Union Pacific shares, 2734; Northwest preferred, 64},; St. Paul preferred, 55%; Erie shares, 39}4. HIGHEST AND LOWEST PRICES. The following table shows the opening, highest and lowest prices of stocks to-day:— Opening. illo Toe N.Y. Cen. and H. R. stock c. 9534 3g sew eh a 44% 16%, Northwestern .. Northwestern pret. Rock Island Fort Wayn Milwaukee al, Milwaukee and St, Paul Olio and Mississippi. New Jersey Central, Union Pacific... , O, and LC. Pittsburg eevee Western Union. Pacific Mat... 3042 In Philadelphia stocks were steady. We quote:— Pennsylvania sixes, 100; Reading Railroad, 5414; gold, 10935: Philadelphia and Erie Railroad, Pennsylvania Railroad, 43), SALES AT THE NEW YORK STUCK EXCHANGE, Thursday, Dec. 11—10 A. nn} Before Call. 100 shs Un Pac RR 1300 do. 900 shs West Un Tel bo q 10. 925000 US 6's, 14 $1000 bat spe ¢.'67, end ie OY US FB "00.06 115% “5000 aK do, 50 ae som 08 9: D,¢, C5, n. en hog oe cur fs ned r 1400 US 9%, ideal ecb e UL $g 1) U8 6", ¢, "BL.bo LOK Board—10:30 A. MM. 26 she I Cen RR,,| BS © td 100 Mich Cen RR ees a sé S353) ao raek = SESSEES SE euyegse eee do. 10Chi& NW RR. be 554, WM aSET MD. "100°" Go. of 10) Ca South Ast fe we 55 10000 Mor & Es con 9246 600 2000 Alt & T H2d m BE 8 20 50W0 Mich Cen 7's 100 Sshs Bk of pe * ot 400 do E 100 Mil & St PRR pibe < 200 Kos, H&E RE..be 100 Ouie t ‘sin 68” 100 Tol & WRK... be 1) US Ex Co. 100 Pav MSS Co 700 wo 109 a Pr 3 300 B85 293g 00 884% 100 204 200 38% 29) 200 39° 200 295 30 83% 500 0. 2934 39° 1we,c& 26 39-200" do 26: 89% 100 do 26: 26% 300 2535 26; 5000 Erie 3d m. thoes Ga Pac IER ine ai 1000 Un Pac7's, 1 Un Pe 10's, we S2SSESSSESEx.e¥SEEx 100 do. 50 Han & StJoRR.... 27% 25 Han &StJoR pt.be 344, Find 100 Rens & Sar RiL.be “ 200 Liville & Nash 60 10 Ohio & Miss RR 5 100 dou e585 uo $10000 US 6's, r, ‘81. ‘8000 Can South Ist 100 shs Del & H Cani 100 Han @' Piso REDE. moe al 0. ouosrNe PRIOES—3 0 O'OLOOK P. M. Western Un Tel id a 7 Ur Quicksilver wig 1 L&W 100 TH Wi 3l f Express OL 8 i836 a) Weils-¥argo 8x 73, a 78 9 8 AMEE BA. oooos BG Lat om 4 US kxpress.... 68 a Ok By Pacific Mail... 88% & ++ B2% & 58. New York Ucn. 99: * Wig @ BW% Erk “fe 8 2 a 27 Ie ai 3% @ B! Bost, Hi sf 26% a 2675 Lake bore... 78 7 COMMERCIAL REPORT. Cotton Irregular and Higher—Wheat Firm=Corn Firm—Oats Firmer—Flour Pork Steady—Pectrolcum Quict—Naval Stores Dall. THURSDAY, Dec, 11-6 P. M, Business in merchandise continued fair to-day, but there was still considerable Muctuation and, | srreguiarity. On ‘bangs to-day the movement in flour was moderately active. Wheat was hela at fall prices. Corn was firm, with a moderate de- mand. Oats were generally held tor an advance, The pork market was quiet but steady. Lard ruled firm, with a fair demand, Cotcon.on the spot advanced on some grades ic. per Ib. and on others 4c. per Ib, but buyers responded slowly to the improve - ment. Futures closed at an advance of 'c., after tre" quent fluctuations. Jorrke,—The market for all descriptions was very firm, but quiet. Cargoes were generally held above the views of buyers. The demand trom the country, which was fairly active, was supplied at previowsly current rates for jobbing lots. We quote tio, ordinary cargoes, 21340. & Be, ; fair do., 2c. a 2%4c. ; ood do, Ae. a 2440. prime do., 24%c. a 25e.; extreme range for lota, 21%c. 2%e., gold, per Ib. 60 and 9Odays’ cred ment bags, 29¢, Singapore, 2ic. a 27c.; Marloalbo, 24c. guayra, 2c. a 25e.; Jamaica, 220. a 2334 19346. @ Be. ; Vorto Rico, 22340. a 24340. ; Costa Rica, Be. a Se; Mexican, 2c, a 24c,; Savanilla, 2c. a 25340, ; Cue a 80c.; do, grass mats, Bc. a 31}<0.; & 2%6c.; La ON on the spot ruled irregular, The reyised quota- tions appended show an advance ot ic. per Ib. on ordi, nary, «Cc. r lb. on good ordinary. per Ib. on strict (ood ordinary, ie. per Ib, on mdling and 3gc. per Ib. on middling and rood miadii The sales were at tr- regular prices, the market clos! ing quiet and prices to an extent nominal. sellers, however, were very firm in their views and the offerings were moderate. bce} after consi idoratie excitement and irregularity, closed ai an advance of 34 Ordinary Good ordi Strict good ofdinar; Low middling. Muddling. Gaga middling. 7 focand fre basea on cotton iM store, running in ade above or below the We quote “plan alabana. NOrteans, Texas, February, 54 av L5%c, bales. ‘To-day, up to tliree P. ‘short notiee 5 7-160. sbi at bs abe 200 at 15 7-i6e.. 00 ai short notice; 3) at lic" 100 at Io Taos bore nod at 1517 ‘January, 400 at 15%¢., 300 at 15 11-16c., 100 at 15 48-320, 100 at 1521 Sho, 109 at Ip 35320. 10) at Like. at 15 23-320,, 200 ut I5%6., on ae “i6e,, 300 at) 10: 409 at p fie ee it a t anton ‘at 16 1-160.. 20) at 16 1-340., 100 Retain sea es 00 at * ; Mar t 163s0., 60 at iste, cto at 16 Liebe? A "100 at 16 27-82c, cjg ftge on boiird, oe Tat ie 16, 9: Iie. Bc, 10st. 200 at 100 at 16 27-32c., 200" at 16 13-16¢. 16 1816c., 100 ab 16 27-30. 100 at 16 Charleston on private terms. Total ales On. The receiDts at me ports were *“Gaiveston, New Orleans 7188: Mobile, 1.068; Sarannab, leston, 2.285; Wim! mingion, 236; Nortolk, 2714; 622, Boston, ia hiladel itt 16, “Total, Bi This day last week, 23,86. This day last year, FLour an Grarx.—Receipts—Flour, 9,785 bbls, ; wheat, $43.5 bushels: ogen, 17.806 do.; corn, meal, an bbl 1s. and bags: oats, 25300 bushels: rye, 7158 do. market ruled steady. Ship) lities wore held: more Humly.. ‘The sales Were 1400) Dols. Kye flour, was quiet and without noticeable lo change, in in price, Buckwheat flour ruled firmer and close 45 a $5 60 tor Pennsyl- vania and $3 10 a $3 35 for State. Corn meal was steady, yitirsales of about 1,400 bbls, at $4 for Western, $4 40 tor dy wine and $4 for caloric. We quote :— 50 9 $575 600 a 650 675 a 70 ate 73 a 7H Supertine Western, 575 a 625 Extra Western 675 a 70 Extra, Minnesota i 700 a BO Kound hoop Ohio, shipping 675 a 700 Round hoop Ohio, trade brands. 6S) a 700 7 a BBY 650 a 675 700 a 7% 7% » 800 5.50 a 10 50 Nominal. 500 a 600 450 a 550 57 a 62 Southern, extr 700 a Bo Southern, tain! 85) a ll 25 Dorn meal, Western. 360 a 375 Corn meal, Jersey 350 a $60 Dorn meal, rani wie 415 a 425 Oaloric.....+++ 33228 at $i 5éior lowa spring in store, $1 Western, $1 75 for white Canada in bone g1 Ba tor Chicago, $1 55 for No. 2 and No, 3 mixed, $1 6] for No. 1 Milwaukee spring. At the close holders asked $1 58 for No. 2 Milwaukee spring. Corn ruled quiet, but firm, with Sales of about 128,00 bushels at, 78c. 7c. for mixed h mixed afloat, 78c. a 3c. for white and tor Western mixed instore. Oats were firmer, with a fair demand and moderate offerings. ‘The sales were about 90,00 bushels, at 58c. 2 59. for mixed atloat, Sic. a 673g. lor do, in store and Sitsc. a 60lsc. tor witite'at jarley was held too high’ to admit of basinese tye sold to the extent of 500 bushels Jersey at Freicnts.—Business in the line of berth freights was less active today, with rates not materially changed, though a trifle nrnier for grain to Liverpool. ‘Vessels tor e in moderate request trom,the grain and eum trades at about previous rates. hy Inenes: were To fine By Steam, so Bites esti ene ayicrans: the nominal rate for grain was 2d by ‘sail, 16,000 bushels grain. at Iliad. per 60 Ibs: Too bia. Flour, at $5.60, To, London, by at ede cheese, at 65s.; 30 hhds. I. Kentucky tobacco, at 52s. 6d. ; me Rosin on by, wail, 3100 bois. eure at ds. 1 and 300 d rivate ira To Hi tees leather, at . Norwegian bart nce to a direct port United ‘Kingdom, with 3700 quarters grain, at 7s. 7! ; a British bark hence to Cork, for orders and United Kingdom, with 2,000 quarters grain at 8s, 3d. ; an Italian Ee with Saw) quarters do. sume vovage, at8. Ued., and a bark nda quarters da, also same voyage and rate; a causes ‘bask hence to a direct port United Kingaom With 2,600 bbls, naphtha at 7s. 3d. ; fe Danish bark hence to with 3,500 quarters grain on private terms Britis! bri gp Bence ta to Corunna with 4,200 bbls. retined troleom atas. tor bbls. and oc play: erie a tn bark hence to Antwerp with 6,000 bl fined do. at 6s. 3d.; @ Bremen ship igeenariered) “hence 0. Bremen with 8,000 bbis. refined at 3d.; @ British brig ot 341 tons, register epee to Montevideo, with lumber and measure- mg pig goods a 25, om Jobbing lots, were re- Snackat or contin firm, particular tor stock this date includes 670 hnds. of ane 1,313 do. of Porto Rico, 1,304 do, of English Islanas Zab bol Is. of New Orleans. We auote ay sate lo... malts . iota deans, soc. Navat Stores.—Good straight lots ‘of spirits turpentine are generally held dimly at lc. though once in u while small outside lots are obtait e Wharf at lower figures. Saies 45 ae - oot ne 4u}ec. and 100 Wl ried odin has been in bette: request t ‘si about steady prices. Sales 677 bbls: i Tots at 82, ei fs mall poles ates 10, 250 bbls. ood rained and No. 2 at ‘and 200 smali bbis. at $275. In tar we pouees salen ot 60 bbis. Wilmington at 3 25, Thteh ‘The market for ‘crude continued very Sole 8 Sot and potent guotabie change; sales of 50 bols. this price bid for next month Shipping crude dull and‘nominal at 1c, aidace Rennes was quited steady at 14. for Decem: ber and ide. a l4%c. for January, but the inquiry was only moderate; sales of a cargo of 2,000 bbis, ihis month, at léc. ‘Cases fieady, and in better request; we heard of 10,000 sold at ive. uoted at l9e. a 19440. Naph- tha qniet and steady at 8c. a 8%. The advices from the Creek were of Generally quiet and weak markets, +h quotations as follows:—Titusville, $110 a $1 12%; bit City, ft $105: Petroleum Centre, -y and Parker's Sc. At Eniladelphia the market was firm, but quiet, at 13\e. a 1dge. for December and 13%4c. a I3\ge. tor Janu ary. Later Wwe heard of 4,000 bis. December’ sold here ai by ee ay ~Reseints-Pork, 1.878 pDIs + beet, «7 ages; cut meats, 2264 do.; lard, 1,458 bbls. and S8tinS kone The market or mieas pork was mod active, principally for tutures. We Dbls., spot, at $16 bbis., for February, bbis., tor March, at $16, and 500 bbls. tor d Dressed hogs were ws and quoted at 63¢c. range of ong Mg ht. Bacon continues e mand and ales 15) boxes of long Sion spot, at f; TO oy 14 do., for January, at 743¢. ; 250 boxes of ack- erces: stlort clear, to arrive,'at 7ixc,, 2.00) boxes of long and short cleat, for Febyriaty. a ‘at 78c., and 500 boxes of short clear, for di ‘ef continued in fair request principally tr smail lot, and. the. market remain steady. heard ot sales of 120 eae in toms ae prices within the range of ‘$10 Hirst and second grade plain mess bbis., ee $1250 for extra do. bbis., $2) a $21 for prime pre Vek tor Indi ‘erces, and "8. a ms Were quict but steady; quoted within the range of $19 a $25 for common to choice. Cut meats continued in fairdemand and not quotably changed in sactions col pickled shoulders Ate. &7c,, chiefly at Tec. smoked hams at llc, ; boxes dry. salted shoulders at 5%c. a B%e.; 500 pl ns. IT Ibs, average, at 10c., and 15 boxes clear bs average, at lic. Lard closed firm at hig! ¢ sules comprise 300 tierce: clty, 9 on nee spot, at S'4c.¢ lierces, December, at 8 1,500 there February at 8%¢. ; 1,000 tierces, March, at terces prime. seller's option December at S%4c., and the eer 159 tierces No. cir. at7%c. Butter and cheese were quiet and a without Ae SE anes n price. ‘Rror.—' nd in a distributing way was fw and the market frm at fhe Tecent improvement. The sales were in small pd or uote :—Caroling M4. & Bhgc. 5 acne, 6 fc, and Rangoon 6%sc, « 6740. suai The iaarkes sor raw ar was inactive, weak and without worthy sales; closing dull on the no: mlnai basis ot er TG for fy os ing, and 7°, for prime Fei, ie od guar ral {or stan for Sona" kt 1. “Senmrs, Wait, ‘Cretgiiton their ‘circ ular ¢ of this date, sum up as follows :— Hhde, Boxes. Bags. Stock feecerintned by _aetnal cour ula fom December, 1c BkSTS 92,980 $1497 4,863 Receipts since. December Fes 8225 9800 1 Totals...... 2,743 57,778 Sa227 | 4303 Sales since December iy... 104802 Osea 5.309 40s Stock this day, December 11, rey ee 1873. "saad seat 315,027 4,870 rf, 18 1872. 19,781 48,653 62,766 91 Compari with ore ote ar pete 2hOSL 87,902 235,900 3,107 ‘cemnber 45, 1870. w+ 901% 75.458 S1R190 742 interior to. common, prac, Re: oe Dod fal Tae. & 756 prime’ to to Chiles, Bier "a8 S74e. conteiti 70. ¢ mo! 19 to a) to Rico—itonning, FY. fair to cl oo, Bike. ir 80, 1, 6 ‘Saha igen Butea texte a ah on fee. oa rior and ext phe ti? M6 STRARINE & le firmer and fairly active. Sales 100 tierces prime a atin A th was mh but quiet, with 85,000 Ibs. prime sold 7 Whisaey.—Receipts, 920 bbis. The market was mod- erately active and prices were again advanced le. per gallon, Sales 38) bbis, at 960, DOMESTIO MARKETS, ton firm: gémeral temandy PO rae A Re. Cott ordinary, 1240, Net receipts. 4gv0 Salen 4.300. i, 60,884. bores ® rie y rf a Britain, ‘eefine should have Yesterday tne ex- Deteaaperks to Rew Unceans, Dec. 11, 1873. otton active and frm: middiings, 16e.; low snl Lge: atrict giainary, Me” 'Re recelpta 7. in the Continent, 2.518; to ¥rance: 2168 ‘tela, gis ie evening, 6,200. Stock, Mtatate Cotton frm: ight ofterin celpts i les. Ebert cast rin ee Net re- fastevehing, 1,000. Stock, sor. tes, 1,200 ; rc. 11, 1873. eating “isie.: low Savawnam, Deo. 11, 1 plotten firm: cat buen Sia fo receipts, “Ms bales. xporis—To Great r the © pd ng eet Tod bg il he Continent, 4,175, |ARLESTON, Dec, 1, 1873, Cotton strong; herp on ie ee fp. ; low midlings, stri Ihc. 2 if Cc. ordinary, isc. Net receipts, Reb one seaports Cotatwise, EAD. Eien, ahr ee: Wuracinazox, N.C, Dec, 11 197% . Spirits of turpentine firm at $3'4c. ‘Rosin quiet; $215 for strained, “OFude turpenine aod i $3 for hard, for yellow dip, Tar firm,at mreago, Dec 11, 1873. ber ; $! ruary; No. 3 spring, $1 09; rejected. $104 a $1 active and higher; sales of No, 2 3 mixed at 5Bkgi December: 03%0., January; Siige.. Febru ary ire, . & 2c. Oats opened firm, bul closed dull; No. 304c., January: rejected, 3 a 370. Rye firm andscarce.’aj sic. for No-d Marley! duit and lower, at $1 Wi tor NO. b fail: $1 0b a 8105 for No.3 spring. Pork advanced and in tair demand, but irregular: megs nomi- nally $14 3735 a $14 50 cash ; sales at $14 W w$Lo 25, Febru- ary, closing at $15; March’ sold at $15 50 a $1575, closing at fs 5), Lard steady at $3 p $810 cast; $8 0 February. Bulk ments steady ; sales ot fartiy cured loose poms at 4%0.; short rib imiddies, Gige.; long clears, 64 Packed lots held at gc. higher. Green meats sold at 44,c) 4Xe. for shoulders, Sige. for short ribs, Ze, a 7c. for hataas Dressed hogs auil and $5 25; frozen, Whi ey in fair demand and ig her, at Ile, $5.60. wile Sirecoipta 12000 bois Hour i45, 00 bushels wheat 16,008 do. corn, 35,000 do. oats, 2,000 do. ‘rye and 27,000 do. bari Shinmsepis—1g.000 bbie ur, 73,000 bushels wheat, 1,00) do. corm, 20,000 do. oats, 2,000 do. rye aud 11,000 do. baricy. Totepo, Dec. 11, 1873. Flour firm and in fair demand. Wheat dull and'lower; senber Michigan, $1 43; January, $1 february, No; 2, n fair tole $1 41% Cor lower: high mixed, cash, 5844c. a 58%c.: January, c.; February, 58c.; low mixed, cash ai January, i New, 5546.’ Oats dull and a shade lower. for No. 1, 44e. for No. 3. Clover seed sold oy “Dressed hogs duil, at $5 60 a $5 65 offered; $5 70 a $575 asked. Recelpts—2,000 bis. flon: bushels wheat, 6,00) do. corn and 2,00) do. oata. Shipments—6,000 bushels wheat, 32,009 do. corn and 2,000 do, oats, Burraye, Deo. 1, 1873. Lake and rail imports for the last 24’hours 700 bla. :, wheat {9,380 bushela: corn, 24.400 4 57.400 do. "barley, A240 do.; peas, 1.050 do. Kull ship: ments—Wheat, 35.880 ‘pushes: corn, 44.741 do.; oats, 47,40) do,; barley, 0.60 do, Elour firm: Wesiorn ground spring, $7 bakers. @ $5 25; amber, 33 a $8 90; ‘white, 32° Miteat in goon inquitys but buyers are. ‘unwilling "to pay the prices demanded’ no ales to report, | Quoted :—Milwaukeo No.1 spring, $1 44; do, No, 2 do., $19; Chicaro No, 2do., $135; red winter, $155; ‘white winter, $1 70a $175, Corn steady: sales ot Eorhes No. 2 mixed Western, in fg lota, at 6c. Oats firm; 2 Western eid at 48c. S0e. | Barley pominal; Canada, st 6 65. Western, pais ; two-rowed State, $1 2; spewed do, $1 y nominal; Western held at $l. Barley male quiet: Canada, $175 a he i Seow $1 a $l the: articles unchanged, G0, N. Y., Dec. 11, Flour steady ; sales of 2000 NST Teton No. pts $3 75 for amber winte! for white winter, $10 for double extra. Wheat wieaty, ac quiet sales of car lots No. pale fg (ed at $! Corn firm, but quiet; sales lot Wc. Barley sig? eaghanged. ppus cialaky upinke ‘Oansda, held at $7, Cora meal-$1 35 for bo ted ‘and Poited perewhr Miltteed umchange stuffs, 1; middlings, $3 a § nti beens freghts—Fiour to Philadelphia and Boston, Receipts, 15300 bushels York, 60c.; to Albany, wheat. HAVANA MARKETS. wana, Dec, 11, £373. Sagar—No. 12, Dutch standard, 12k: a 12i¢ foals: por a= robe. Exchange active; on the United States, 60 davs, currency, 79 a 81 per cent premium; short sight, do., 53 a 85 per cent premium; 60 days, gold, 90 a 91 per cent pre- maltum j short sieht, do., 88a 100 percent premium, "On Paris, 85.a88 per cent premium. Spanish old, 37 pre- miumi bid; 90 asked. On London, 112 a 115 premium. EUROPEAN MAI MARKETS. Lonpox Mower Maexer, ww, Dec. 11—12:30 P, M.— Consols tor money, 91% a vaine “ior the speouns 2 D255. United States five-twenty bon: 2 fe Sole: New York Central, 70} 1 F, Me Railway shares, Ene Eanlway, shares, M.—Krie Railway shares, 36%. PW. Gbigols tor money, Nia te ioe thee coast, Gay aig The upward: caovement ia American securi en caused increased activit: BS the market. United States five-twenty bonds, 1837s, 93%; pen foes a6 new fives, 9215; Erie Railway beets 8 Chited States ‘Bonds—New dives, 9243 Hife maulay 48 ares, Bounse.Losnox, Dee, 12:30 P. M.—Paris des- cel 1s quote Rentes at 59f. act Gite Corron Marxer—Liverroo . 6 PL Rrenroat on the basis of middling up! bene - nothing Data ood ordinary, shipped January and February, at 8 reals. Ot the sales to-day were Aineriean. Sales On the. basis. of middling Grieana nothing below good ordinary, shipped mbet and January ats 76d. She market wap quict and unchanged: Salsa 12000 bales including 2,000 speculation and export. Sales on the basis of middiin: phan, nothing below good ordinary shi] Novem! oF 1o., shipped January cbranty, wes b-160, Oasids of Onicann. nothing below food ordinary shipped December and January, at 844. ales on the basis of Novetuber sat 8 66d nothing below i ordinary shipped Novern! + do. do., de- lverable February and March ‘RPOOL EADSTU PFS Fak —LrverPoor, Dec. 4a. 13s. per wpe tor . for red western ae igs. 2. ‘#. 4d. tor red winter. Flour, 23s. a Der Dbl. for Weslern, “The market is trim. Corie 86s. 8d. per quarter. LiveRroou PRovisions Maaxet.—Liverroot, Dec. 11— bh eee ‘Lard, 40s. 64. cwt. Liv OL. cer —LivEnroor, Tallow, 88. 6d. per cwt. Spirita of turpentine, ‘Sls kay °Yioxpox Provuce, Manxer.—Loxvox, Dec. l1—Rven- ing.—Linseed oil, £299. per ton; spirits turpentine, Sis, per cw + + FINANCIAL. A —UAPSLEY & BAZLEY, BROKERS, 74 BROAD. « way.—Stocks bought and sold on ' commission; privileges ‘negotiated sin’ stocks on members, Exchange or responsible parties. Explanatory circulars mailed to any address. AN MEMBER OF NEW YORK STOCK EXCHANGE having capital, and desirous of increasing business, .. box 170 Herald Uptown Branch office, clackioes addre; see place of A MEMBER OF THE STOCK EXCHANGE IS OPEN for an engagement with some firm; salary moder- ate. Address BROKER, Herald office. URLINGTON, CEDAR RAPIDS AND MINNESOTA Railway ‘Compan; 3 First Mortgage Bonds ot the Minnesota Division will be taken in exchange at histest market value tor valuable Real Estate in New Jersey. Ridress kB: CLARK, bux 3,636 Post office, New Yo "ASKINS & BRAINE, BROKERS, 11 BROAD STREET- Stocks and gold bought and sold for cash or on mar. gins pe ieaee negotiated on responsible firms, which | Be wad in place of cash margin. this enables any one with small capital to speculate with little risk. Explan, atory circu lars 1 mailed. J BAVE $7500 (estate FUNDS) TO LOAN IN ONE or more sums (small amounts preferred), on first city property; no proposition over 5) per cent valu tertained; no bonus expected, only lawyer's toe bursemenis. Owners only heed address EX Dox 4,044 Post office. OFFER FOR PERMA NT INVESTMENT, $14,000 reliable 8 per cent Bonds, six months interest, due January 1. which purchaser will have benefit o: Ad- dress PROFIT Pi OFITABL INV: ESTMENT, box 113 Her: MANUFACTURERS. WITH ESTABLISHED BUSI. ess Of sterling character, wishing to increase their capital re to $50,000, or dispose of an interest, may find opportunity by applying to BRINCKERHOFE PFRAZER Brokersin Manuiacturing Stocks, 48 Broad st IPREASURER'S OFFICE, Kansas Pacrric Ratuwar Comranr, | Sr. Louis, Dec. 6, 187s S Holdors of bonds of the Kansus Pacific Railway Com- pany, Union Facitic, Railway Company, Rastern 0) sion and Leavenworth Branch are sted to send their addressea to me, giving a description of the bon or bonds held by them. aud how many, so that any’in formation issued by the company maybe duly matied to 8. GREELEY, Treasurer. E HAVE FUNDS FOR PURCHASING GOOD FIRST and Second Mortgages; also to loan on first class city property, improved or unimproved. WARD & LEAVITT, 54 Wall stree W Asixatox “PUBLIC WORKS EIGHT PER CENTS exchanged for Permanent Improvement Seven Per Address L. D., box 3,150 | Cents; difference paid in cash. Post of TISVESTMENTS IN WALL STREET THE | $200 .~itaten days haye pall many’ot our custom: ers $2000! sums as low.as $10 can be Invested without | Fisk; ‘82 page explanatory Shar on applica: tion. He ankers aad Broker W I street, “New York. GOOD BROOKLYN SECOND MORT- $3.100- 100.4 gage for sale. ‘Address HEAVY DISCOUNT, jerwid oMee. (0. WASTED Finst MORTGAGE ON It 5.0) acres eligibly located and rapidly advanc- ing land in the city of Newark, N. J.; now worth $20,000; an excellent Investment for trust iunds. "Principals only address A. D. K,, Herald office. $14. 000 AND $5,000 TO LOAN, ON. MO AGE on first class. cit Prt + existing Mortgages purchased. Rit Pine street, 5.00 FOR MORTGAGES ON CITY AND sountiy 3 Property + principals only need He WILLIAM Counsellor at Law, 39 jassau street, roo! Oftice Hours 12 to 110. 00: TO LOAN IMMEDIATEL " J and mortaa e, at mod rot class property uly <i wallings or store ALON @ St AN, SL Kast Sevent ISSOLUTION,—THE ART ing between Anton Keopmann ‘and Wil- liam Dreyer, under the fi opment, & Dreyer, ix this day dissolved by mutual consent. The business hereafter will be conducted by the anderst WILLIAM DREYER, & White st New Yorx, Dec. 9, 1873. —_+-+____-- SHABP PRAOTIOE IN YONKERS. In the City Court at Yonkers, Westchester county, yesterday, Fran Morton, a New York thie!, was adjudged guilty of stealing an overcoat valued at $20 and sentenced to six months in the Penitentiary. During the previous evening the accused “lifted” the coat irom its frame at the door of a clothing store on Main, street, aot bay. ing donned the garment, procevded to the railroad depot, Intenidng to take the next ain, for the Some 20 minutes oi aere the property bye} in Captal been as missed gin, a notified of heft, hi ite 0 the depot and se- | von Morton ave 04 heywne’ stepping ow voard a tb See i THE MONETARY SITUATION. An Encouraging Outlook—Resumption of Industrial Activity in the Manufac- turing Centres—Another Li on Lake Shors—Foreign Loans and the Moncey Market. Notwithstanding a temporary reaction on the Stock Exchange, the result of realizations tempted by a desire to secure the profits of the rise of from 10 to 25 per cent in leading shares during the past four weeks, for holiday disbursements, the outlook in the monetary situation gives promise alike of # Merry Christmas and a Happy New Year, From all sides comes the gratifying report of a revival of industrial activity throughout the Union, which is thus pointedly summarized in a journal devoted to one most important branch of this activity :— “From the very full and accurate information now at our command, says the Dry Goods Reporter, wa feel fully warranted in anticipating, under ordi- nary circumstances, a complete and entire re- Sumption of the textile industry of the country at the commencement of the new year.” Ia New England THE COTTON AND WOOLLEN MILLS ARE GENERALUT RESUMING operations. The great Lowell factories are now nearly all working fulltime. The Fall River milis, whose entire stoppage seemed lately so umminent, have increased their operations, Some are now working ‘uil time, and there is scarcely a dowbt that all of them will do 80 on the 1st of January. from the manufacturing centres in Maine and New Hampshire the accounts are favorabie. Im Pennsylvania the textile factories are again atart- ing up, and from Paterson, N. J., we have the good news of the resumption of some of the ailx fac- tories at that place, This revival of industrial ac- tivity is attended for the most part by a reduction of wages of irom 10 to 20 per cent, The Wamsutta and New York Mills, however,and some othera have increased their Operations at former wages. From Pittsburg comes the encouraging intelligence that THE IRON WORKS IN VARIOUS DIRECTIONS are giving notice of a resumption of business on @ Substantial demand in the market for iron, 80 that there is reasonable assurance that in that, our 4ta- ple manufacture, the worst is over. Everywhere the business outlook is of a more cheering charac- ter than it has been for two months past. The money market proper, one would have thought, would have been subjected to a peculiar strain yesterday, in view of the announced loans which are being or are shortly to be offered. First in amount came the information from London that the Rothschiids were seeking contributions to A HUNGARIAN LOAN OF ERE -SEVEN MILLION DOL- ARS, Side by side with that was the statement from Vienna that the Reichsrath had authorized a new Austrian loan, the amount not veing stated, which is, however, oraenlly distinct from the Hungarian loan above mentioned, as Hungary now has tts own legislative body and is only subject to the Crown of Austria, not its Parliament. Later came the pub- lication of the fact, accompanted, of course, with the necessary jnference, that ree in the matter ‘was to be taken immediately, t! THE LAKE SHOBE AND MICHIGAN SOUTHERN RAI way directors at their last meeting authorized the tssue of second mortgage bonds to the amount of $25,000,000 for the purpose of funding the floating debt—about $4,000,000—and retiring, when holders desire, the $6,000,000 debenture ne The re- beet iy $15,000,000 to be held for uC Bs 0808 aa are needed, notably tor finishing the do ble track to Chicago. The securities of the OnmnaDy. would Sieteeaiee to toate feat follows eee copia. 50,000,000; consolidated first mortgage bon $25,000,000; second mortgage bonds, $25,000,000. Taking the official gure of the company tn its last formal report we find the fouowing:— Share capital........ Cost of road, Funded and floating debt. Actual stock interest. New loan or second mortgage bonds. .$25,000,000 Legs amount to be applied to redemp- tion of debentures and floating debt. 10,000,000 49,000, (23 ~ 15,000,008 Actual stock interest 834,000,125 —against a nominal share ‘capital of $50, 00,000, i is stated, in connection witn this new loan, that with its successiul placing May be expected con- tinued dividend payments. Query on $50,000,000 suppositious Stock OF $34,000,000 bond fide stock? Notwithstanding, however, this pressure upom the money market, as above hoted, THE BANK OF ENGLAND still further reduced its rate of discount, makin; the mintmum 43; per cent. Outside the Bank of England three months’ discounts were obtainable at 4 per cent. American securities were strung and higher. In this market money was easy on call at 5 to 7 per cent, as the extreme rates, and prime discounts 9 to 12 per cent. The outstanding bank certificates are now stated at »,000 and outstanding legal tenders at $872,056,000,’ being an tacrease Of $556,000 since yesterday. HOSFOKD STILL MISSING. The Pine Street Firm Knows Nothin, of His Whereabouts=The Street Rumors About the Case. ‘The firm of Augustus W. King & Co. continue to assert that so far they have been unable to trace Hosford, their late cashier, in his wanderings from the piaces that knew him so well but a few days ago, and they are equally ignorant, judging from the small amount of information they are willing to give concerning their examination of their books, as to the exact sum of money or money equivalents Hostord 1s said to have made away with. It is fortunate for the firm that itis rather an insignificant one, when compared with the majority of the banking houses in Wall strect and its immediate vicinity, else their persistent @etermination not to let anybody know what the alleged defalcation really amounts to would be looked upon as open to grave sus- joes Even as it is, the fact that nothing has en nade public concerning the result of the in- vestigation said to have been made b; by. the frm to ascertain just what inroads Hosford did make into their funds. has given rise to a great ny ugly rumors on the “street.” Though they are doubtless groundless, still it is easy tosee how they have gained currency, in view of the mystery which has a Pi pethe to shroud the doings of the defaulter. However, the firm may have some good reason for their reticence that ordinary people cannot just now see the full force of, and, as their iriends Say, Know their own business best. One of the rumors afloat yeatenday, concern. ing what were purported be the reat facts of the defalcation was of By ‘serious @ charac- ter that a reporter of the HERALD at once called at Mr. King’s office with a view of imparting it te him and getting from his own lips either an ex- plicit denial or confirmation of its truth. The re- porter, however, was unable to see Mr. King, and in his Absence there appeared to be no one in the office who presumed to have the pene to talk about Hostord or Leng | concerning the detaication. It was rumored late in the day that the missing man is quietly sojourning in Connecticut, in @ little village not very far trom the State line, and that when his week is up he will have made everything satisfactory to Lis employers. It was also asserted by some that Mr. King knew where he was, and could have him arrested. if he earn- estly desired it, but that a compromise stands in the way of the usual method employed. to bring a thies directly within the meshes of the law. REAL ESTATE. ‘The real estate market continues to. exhibit the same dulness, awaiting farther developments in the great financial problem, The only sales made at the Exchange Salesroom yesterday were as fol- lows:—A sale of the four story brown stone nouse and lot, 18x80, situate on the northwest corner of Madison avenue and Seventy-third street, held by A. J, Bleecker, Son & White, by order of the Supreme Court, in foreciosure, under the direction of Patrick H. tig referee. The se, was sola for the highest bid made over and above mor ana interest and expenses, amounting to $30, bid of $10,000 over that amount was the only made, and the Propery was struck down for that sum, John Roth, ti ntitr in the legal action, by the purchaser. Protal price of the property, ‘The same auctioncers sol1 dy order of the Court, in foreclosure, under the direction @f James W. Blatchford, referee, the three story brick house ana lot, axils '3, on the north side of Twelfth street, 240 feel t of Third avenue, to Dr, Michael Hogau, for “S18, 713. THE BLOCK IN THE GANAL. ‘Trade is still Impeded by the continued block om the Erle Canal. The movement of the vast amount of produce and cereals, the latter amounting to, over 3,600,000 bushels of wheat, corn, oats, barley and rye, are kept in check by the continuance of thick ice. Besides these are hundreds of boat loaas of onions, apples and other kinds of produce alt locked up inthe Eastern division of the Erie Canal, which extends from Schenectady to Utica A gen- tleman in this city, who is well on the Exchange, ‘received wdespaten. trom the Produce ditor of the Mr. im which the Tatter says that Mr, let water into the Eastern division of me We nd that boats mn the Western move. All de} ‘able, will al day it was deal owe (oe PA the can