The daily union. [volume] (Washington [D.C.]) 1845-1857, 1846-11-21
Commercial Correspondent.
NEw YonK, Thursday, Nov. 10, 4 .

INC money ana STOCK markets continue exceed
'"sy uei ihere Is absolutely no speculation 10
S'ochs Al present. notwithstandng that money Is oy
no means searcei and as for purchases for invest
"eh'' rev ana small are the brokers' commissions
earned IN that way. The taking of tho new loan
Impaired some degree Of buoyaney TO The market for
day. and long broker bought lot OF the old 6's,
mat Is the le63s, at lO7, which is equal to loo IN
iefeSt OIL lfthat price could have been established
would have liked 1884 as the opening price OF the
new stock. This being followed, however by the
English news Of decline in nour and provisions,
and fall IN continental exchange, and also by the
news Of the seizure of eonduets OF s2,OOO,oOO by
Santa Anna, adding "fuel to his hste,") with Its
consequences, the requisiiion for eight new reg-
ments by the War Department, produced heavy
feeling and a disposition to sell stocks "short "
That is, your patriotic gentlemen, In anticipation OF
and The new 6's were sold at 1901, seller 20 days
This is brokers' operation, as thus as mention
ed In my last, the new stock having 10 years to rum
Is worth--to pay per cent per annum interest
ioo'7o. broker, with no capital whatever the re-
fore puts IN bid for say $50 200 at 100 lO; 90 soon
as Il Is aseertaoed that he is to have the stock he
sells Il out at lOOI5 sellers option 20 days; which
means, that the buyer Is to take and pay for II on
any day OF the next 70 that the seller pleases. As
soon, therefore, as the treasury notifies him that
his stock s ready, he notifies the buyer that he must
take IL. He receives therefor l0075 with one
hand, and pays the government 100 10 with the
other--a difference OF ! per cent In his favor; but
the buyer, according to the rules Of the stock mar
kei, must pay interest the amount until the con-
tract closes. 20 days interest on 5000 Is per
cent, which, With the difference, Is per cent or
$500 in the pocket Of the broker who had no capital
and did not risk cent. The stock has neverthe-
less advanced and, at the close Of business to-day,
per cent premium is offered, and Il asked for the
new stock; and l0l is offered for the old, seller
months; and 1861 asksd months. There is no cash
stock on the market
| On Wednesday, large payments were made on
the new loan. John Ward q CO., paid in near half
a million, mostly in specie, although the law does
no, require specie until January 1. The operation
Of counting by the treasury officers, and re-
counting by the naval officers check, proceed.
ed vell,and satisfactorily to the great honor OF bank
directors, who have been accustomed, on settling
days, with slip ofpaper in one hand, and pencil
in the other TO follow the cashier with feeble steps,
ia single hle, TO the vault and as the officer points
TO row Of boxes, dmly seen In the rear Of the
vault, to take down the numbers marked thereon,
and then, on carefully adding them up, Il they
should agree with the sum set down on the ledger,
general lifting up ofspsctacles, and exclamation of
establishment at the accuracy OF the officer, closes
the bank examinations. On more than one oces-
son, when the demands OF the public have caused
the dusty boxes to be disturbed, the supposed gold
coins found to be cents, and the silver to
have slyly "sloped" The operation OF the indePen-
dent treasury is likely to root out many dusty box
from its long resting place in bank vaults, and to send
ita ronienta about doing goodu like the proceeds Of
| - a, -.
the silver saints winch Cromweu ofuereu 10 DC meN
al 1o,,o for s;,oilsr ,ois.;o,