New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-06-13
on.n1rnoIAI AND MONEY MATTERS



Mo~DAY. June PIP u
-. a.. Stool is heavy. and with the eN-
,e,,,on Of Harlem and Long Island u in'cn'e' i"'
,so8encv Of the fancies H. downward treasury N''''
= ,c-e heavy. and sod al q prem. There are up
pcsr.n,es Of an attempt TO keep down 0o'erne"' 90
80. until after the new loan has been declared.
IT. exchange market is heavy and quiet. To-
80, d. n.cket day but there is yet only moderate
demand fox bn. and rather easier rates are generally
.,ho.,tea TO- sterling drstcass ranges from lOl 70
M ha GOOD bills with bin. ladng attached sold at per
cen, Franc. are entirely nominal a, 22i a 5 D.
T., Freights there is a fair business doing aud
,,,es are improving Engagements 10000 bush Corn
,e, made AZ 81 in bags and ID IN bulk for Liverpool
and "a 10 London Heavy freight taken At = %
a2js aud herces Beet at IS Cd a 81. Two more eh
r,senents were made for Gulf service by Government
II is confidently st,icd that an Ensi'h mousse
here i. authorized 20 make bid for the whole loan i''
account Of foreign caita-ts Nothing would pc more
likely than that this should be true Ainiu I'D. H'Ns
KINGDOMS Of Europe capitalists must ana u uncut 90
make perfectly secure investments bHi'" ''''''
are the ftvorte u.y but our securities yie'"s niue"
larger interest and equally safe must sooner OF 'leI
s,,-ac, the atfenton Of noneycd men abroad and lead
10 lsrye investments on this side the water
The sr,op,,t Of. specic " hich went by the United
State. wa bnt ri De- over 100000. For the Hermann
abo $4,000 has been Keyed Tor some time past 7He
sails on the 10Th.
The CIV Banks show but a small decrease I'D
the coin in vault The amount in Bank and Suo-Irees
vrv on the 2Jth April was sG3g7O00 on the l5ih May
s6ssl 900 and on Saturday la-i; was S'''iOJJ 'ho"
ing deorea-e Of $4,000 since 18th May but an ID
crease Of 10000 since 18th April Notwithstanding the
large shipments in the interval
The condition Of the Exchange market remains
still an enigma 10 the shrewdest operators in Wallst-
How long this specie drain il to continue Is puzzle
beyond their mastery II Is the only incubus on com
mercia a,airs remaining and creates very genera
discussion We believe the present high rates Ter TX
change have never been sustained 80 long as III me
present instance while :he Banks paid specie. Doubt
less the market has been in measure sustained by the
fact that since the commercial crisis that swept over
England and the ,ninent but few drawers oil S'ei'
linz have posc.sed On undoubted credit Second ca-s
bills even with bills lading attached have during most
of the time been almost entirely unsalabe excepting
to those leading houses who thus been enabled 10
bnv and sell al their own prices Such houses ~
Browns and Pickersgilrs have completely controlled
the market and while buying at 4ds per cent have
been drawing tll0l2l The almost entire cessation
oftrade with the Continent having cut of the supply Of
bills usually generated by shipments to that quarter
has forced al remitters buy Sterling while the Crisis
there has forced home dsproporuonatey large
amount of our indebtedness The very low prices al
which merchandise and property Of al kinds has been
selling Tor cash on the Continent has asst. ted to swell
the amount RENTED by many sums which in the resu
lar course Of trade would not have gone Undoubtedly
the low price which Cotton has reached and the almo-t
entire cessation of brcadstu exports in the face OF eX
cessive Spring importsons, have been powerful ele
Ineut IN producing the present state OF tie balance Of
trade This matter il, however, now mending Our
exports of bresdstufs increasing, and Cotton Is
again going forward while our imports are nearly fifty
pr cent less than this time last year For April and
Nav they were eight millions less at this port than du-
ring the same period of 1911 As we have before M n
toned the drain now is looked upon the street as in
great measure artificial and is likely to be soon ar
rested Il is thought TO be somewhat curious feature
in this matter that while large OF coin 90 from
this port by every steamer and packet, the Boston
steamers take little or nothing And this is considered
10 be an argument against the Legitimacy Of the drain
The Washington Insurance Company Of Cmcin-
natl have declared dividend of 40 per cent 10 the as
nred 10 per cent to the stockholders and per cent
20 the crphoders out Of the profits Of the past years
business.
The Planters Bank OF Savannah has declared a
eem!annual dividend of four per cent
The Frederick County Md Bank has declared
dividend OF 81 per cent
john g. Mex enze, Esq. has been elected Presi-
dent Of the City Bank OF Montreal and d. p Ross Esq
Vice President.
The quantity Of Coal sent 10y Reading Railroad
last week. is 322l5-by Canal, ll,55s-for the week
4l773-total by Railroad, 4s743i-dtto by Canal
lll9O0 There is an increase on the Railroad OF
about 1000 tons and falling off OF about $500 by the
Canal The demand for Coal has slackened of LITTLE
since the advance in the price Of toll and freight
Amount OF Coal sent the Philadelphia and Readn-
Railroad and schuylkil Navigation for the week end
Ing on Thursday evening last: