The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-09-21

yers united by brandenbourgs of silk and kind Of
running wreath Of braid the material whether OF tat
feas batise The mantelet Fontange Is trim
med with frls and instead of collar has hchu pele-
rine tying carelessy in front Bonnes Of tue
and lace all the ightest materials still In demand
paies de riz mixed with coored blends have very
pretty effect Some bonnets ornsmsnted with fau
taste particularly II mixed with velvet For straw bon
nets they very made of poult de sole trim
med with lace pnked ruches several fls falling
on the crown, with bsvoet to match.
Tn. Latest Financial Intelligence.
From the London Chronicle Sept 81
The Money Market has been buoyant to-day and
prices have undergone some Improvement Consols
opened In the morning at to for the account and
s7H to q for money, at which quotation they remained
until the mi Idle Of the day. when on its becoming
known that the Bank had decided reduction of the
rate ofipteres they went Immediately to ssh buyers
for the account They afterwards receded to So to
q at which price they closed at three o'clock After
business however they again done at 956 buyers
for the account and s7 for money The other stocks
are as follows the Three per Cents Reduced 49, the
Three and quarter per cents 99S to q; Bank Stock
1876 to 8; India Stock 23s to AZ; Exchequer bills s. to
6s. prem.
There change in the quotations of foreign
rites the business transacted in them during the day
having been very limited
The share market il generally frmer aud some de-
scriptions OF shares may be said to be better
to the course which the bank likely to pursue
consequent upon the improved position in which the
returns last published showed to be placed read
will observe have been fully realized to day The bank has
reduced the rate of interest advances to the middle of
October from 5H to cent As regards the existing
sources of the bank, when viewed independently of
other considerations they generally felt to afford to
the directors ample justification for the step which
city appears to be that which than
sion have ventured to express that as much OF the
MARKET arises merely from the loss Of
confidence the indication of more fcile accommodation
which is afforded by such step as that taken by the
bank to-day must obviate to certain extent the pres
by bringing capital freely into the market,
much of which has been kept back either from fear or
,x.oltn. rttslt haa nf h.tka ttv,,aa
Trade has been sorely pressed during the last few
months, and, at the Sacrifices of heavy discount
rites has been next to impossible The foundation,
however, on which We rest is undergoing daily i'm
proyement The harvest, en- which so much connected
with the Of every branch of trade depends
is placed to its safety and abundance, beyond
doubt The condition Of France too in this respect is
from similar cause, equally cheering and there is at
least for time to come, reasonable doubt but
that food will be both plentiful and cheap
Those whose experience enables them to recoec for
past the fluctuations of the prices of money and
corn will not fail to remember that cheap food and dear
money have never for any length of time and
if the circumstances which affect the financial question
of to-day did not involve the consideration of inter-
ests of Importance there could be question of grad
ua decline in the value of money applied to loans
and discounts But the feature which has taken
such root in this country and in France the railway
system depending as it should do the surplus capital
of the country is accused Of fastening itself the cap
ial in which it had right to participates; instead OF
living it the interest of capital it has at
tackled the principal This evil, it will be perhaps
tended should have been sufficient deter the directors
from any relaxation in the rates of accommodation
the movement day must be considered as
made in that direction But from our own observation
feel that the market value Of money the
decline elsewhere than at the Bank of England that
the demand for accommodation becoming restricted
in very great degrees and think therefore, that the
indication which the Bank has Afforded while it involve.
decisive reduction in the price of money sufficient to
encourage return of speculation will assuredly
bring out the capital which the return of activity ir
trade cannot fail to demand. The question Of the rail-
way calls is serious enough but there wide difference
between precpitate reduction on the face of adverse
circumstance and the prudent relaxation which in
atty waits on events about to occur elsewhere
We are glad to be able to state that the drafts OF
Prime, Ward Co, of New York, Overend * Co.,
which have remained unaccepted for some days past,
now in order. We informed that the whole Of
the drafts accepted Overend Co late this
ternoon AS stated by Tuesday, it was expected
that the matter would be satisfactorily arranged before
the sailing Of the packet and happy to find that
this has been the case The continued rrepularity
the drafts for days has been the of much
anxiety.
The greatest variation in the chispublic securities and
principal railway shares within week occurred in that
ending the It'll ult during which period Consols fell from
S8ss to S6A, difference of less than Ia per
and exchequer bills from los. prem, to 5s prem Ia
railway shares Eastern Counties declined from 20 to 10
Great Western from ll5 to l09 London and Nerth Yves
tern from l6 to no. and Midland from l27 to 100 To-
wards the close OF the month prices have improved
corn of which give the official weekly averages from
the GGTette is an exception The prices Of wheat Al
quotations sales having taken place Monday tho 30t
ut at from sos. to Cos per quai ter
| The difficulty Of obtaining discounts in Manchester
and the pressure the of the banks there
appear to have led to the employment Of of
bankers their London agents in certain SUBJ
sttutes for cash The fact that such drafts
ed by the manufacturers requiring money, in place
actual cash, shows how extreme the pressure
mercia affairs and the want Of banking accommodation
must be. Advices from Manchester state that b" Re-
has again been had by of bankers
counting the paper for their regular customers in three
months drafts on London, which bills have been handed
to the spinners and manufacturers instead cash
However legitimate this mode OF payment may be- it
been objected to by Of the merchants here being
rather exception to the usual of paving
spnners and manufacturers who require ready cash for
the payment Of their work people which, in dis
trct amounts to something like flO0 900 per week
which must be either procured for them by the pur
chasers of the goods, or the bankers here "
In addition to the failure of Messrs Kirkpatrick Co.
of Liverpool, which we announced yesterday regret
to report the suspension of payment by Messrs IL & q
Gregg Of the same place. Their liabilities are reported
to be OF large amount.
BANK OF ENGLAND. An account, pursuant to the act
7th and sth Victoria cap 81, for the week ending Au
gust 2s:-
ISSUE DEPARTMENT.
Notes issued .E22 sos 900 Govt debt Ol5 lOC
Other securities. 1891. 90f
Gold coin Y bullion 1906, 3oa
SILVER bullion. 1859 80
900 f22 1855. 900
BANKING DEPARTMENT
Proprietors' cap1. ETA $4,000 Goy't securities
Rest: -. 3,6&,2O3 Including dead
fublie deposits I'm weight annuity. Ell III ,3lt
ciuurng txchequer, other securities. l67ll,l8l
| Savings Banks, Notes $1,000.
| Commissioners of Gold and silver coin 573.78:
| National Debt, and
| DividndAccounts) 7,l93,H0
| Other deposits 7,l05,70l
Seven day and other
Diils.. 7B97lO
E33,326354 cas- 32s rs
| Dated the I'd day OF September i8i7.