The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-07
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cures were quiet, and the only noticeable a'era'on was
an mprove in Michigan southern. a., 90,
IRON the London Pos, CITY article oc. =,
The market for the public funds has shown steady
tendency towards Improvement advance of about 4
per cent has been established and no relapse took place
n, The close OF business. As inmated yesterday,
some Apprehension entertained in certain quarters
that The directors Of the Bank of England would apply
ana measures to the discount of commercial
paper al their weekly board meeting oday but after
some delberaton il resolved 10 postpone the nitia
don OF that policy for the present The knowledge that
determination caused further purchases OF money
stock and under the combined influence of
very easy money marse, IN the stock ,t Exchange 9,
the market became firm and consos touched 80 for
The November account which figure they closed eveniu
ate transfer have been at ssh . and q and for the
accoun, $50 y = and ,t-the final prices being ssh
abundant supply Of money for first class paper per
cont per annum, and upon the whole, the demand for
mercantile accommodation has been somewhat qucter
to-day No limitation having been made at the meeting
OF the Bank directors to the date OF offered for
discount more ease was apparent in the afternoon than
during the morning and per cent reduction was maae
I'm certain in the discount charge for very elg
Die signatures appears that he shipments p. ,,
as time expected owirg % TIE high rates
of insurance required and the great risks 'chich mnu oe
encountered IN tie disposal Of money on rs d'r'eai an ne
United States The position of the New York banks with
respect to their metallic reserves was too strong TO en-
courage very extensive shipments, il being felt that when
revival OF confidence took place the rebound ,could DC
saorr sudden and remarkable than the panic What
with the high value OF money this country the enor
pnously high premiums of insurance. and the risks and
Uncertainties that be in the United States there
much chance OF profit the RENTER, unless OBJ
tanned by the purchase of commodities at greatly dcpre
cated values The specie Withdrawn from the Bank to
day for purpose transmission the United
has consequently been of small importance, the total
amount cling under GO 900.
From the london News (City Article), Oct. %
The money market remains quiet. AT the bank to-day,
yesterday the demand was very moderate. In the
discount market there also entire absence of pres
bank minimum, and the supply of money, though ade
quate not large to-day The disposition TO contract
high value of money, will result eventually in diminish
ed demand but would appear that for the partial allie
Walton of the in the money market are IN no
small degree indebted the investments of the public in
government and other securities The recent heavy fall
have almost daily had occasion 10 point out, mas
prompted large bona fde absorption Of stock, and the
process assisted by the of trustees
aud other parties who have just received the div
bends. As money has thus flowed into the Stock Ex
change bankers and capitalists have watched their oppor
tany and borrowed largely IN that establishment de-
posting security portion of the reserves OF stock
which they usually hold and employing the money in the
discount Of bills and in other ways By this means the
supply Of the open market has been attery
creased and the Bank of England has obtained some
spite, after the recent heavy demands upon it, The pro-
Cess witnessed Is remarkable in many respects,
especially indicating that the immense boards OF money
existing in this country ever ready to come forth
eligible opportunity and minister the relief of
stringent money market To-day further loans
amount taken from the Stock Exchange, deposit
OF government stock yet money continues in full supply
in that establishment and commands only about per
cent
stood TO be in Of withdrawal from the bank for
mittance 10 Ireland. Some amount also taken from
the bank to-day for transmission to New York per the
Canada. which will leave Liverpool Saturday,
and will probably take considerable We know
of parcel OF floooo being Withdrawn for this purpose
day No bar gold taken from the bank to-day for
expectation 10 the Continent but there is good demand
for that quarter in payment for silver of which
sold for the Eastern packet OF the 4th of No
vember. Yesterday about 100000 in silver reach
ed the Thames from Bouogne and Ostend per the
Phine and Holland There is present gold
sale IN the open market and these supplies of silver
must Of be paid for the necessity shortly arise
of taking gold from the bank, unless supply comes in
from Australia The only important amount OF Australian
gold actually known TO he approaching f2oo,
600 on board the ship Avon The fact that the vessels
Last in from Australia made unusually quick does
not encourage the expectation Of any considerable mme
daie arrivals OF the precious metal and whilst the
pec Of immediate supplies Is thus poor, the Bank Of
France understood to be losing gold which may
ipse upon the necessity Of increasing 10 foreign pur
chases
From the Loadon Mercantile eazette, (oy Artclc Oct
FRIDAY, l ocIocK p. M-Somo small parces of gold
have been taken from the bank export America and
the Continent and the late Australian supplies have
been absorbed, drain upon llScly to
be renewed with greater force more especially the
Bank OF France losing its bullion, and VIII doubtless
purchase a supply In this market IL Improbable that
shall have many Australian arrivals Tor some little
time and hence, with an increasing demand and dimn.
ished supply the only will be TO draw gold from
About ESQ 600 Of silver i announced from the CONT
nent, for which must Of course remit gold.
There Is little demant, money at the bank, but out
OF doors i s, suciehty active 10 generally command
the bank OF per though instances reported
OF N only having been charged There oppeary 10 Je
characterization 10 Discount american IIr on any terms
Money ~ exceedingly plentiful on the stock Exchange;
but while the drain f. gold continues the rate of discount
must be kept up
prices continuing 70 be supported by the purchasers
account OF the public THE tends 10 make stock
and money plentiful amongst the dealers who Dor
rowers Of stock for the next acconn; al per cent
IRON the European Times Oct. ~
Under the adverse crcums tances Of the unfayorahe
news from America and the rise by the Bank Of England
Of their rate Of discount TO per cent the money market
has maintained an altitude q caimness and steadness
most gratifying The recent release OF the dividends and
the high rates offered for loans have been the Of
largely supplying the discount market with money.
Neither al the bank out OF doors has any undue
been felt. Tie advance IN the bank rates seems
greatly % have checked the expectation OF gold TO New
York The Arago from Southampton, has taken csc 900
from France, but only G. 300 from England while the
totally the cybf Baltimore from Liverpool only IS 300
II intended 10 send f20 by the latter vessel but
the bank movement caused the principal portion be
Corntermanded. The quantity OF goods being forwarded
very small and this fact viii tend to improve the Anne
The return from the Bank OF England for the week end
ing the 18th October gives the following results when
compared with the previous week
sbIe deposit e. ,sSS Oh Decrease 60 ese soS
Other deposits ..... II dS2 AZ Increase .SS sos
on the Other side Of the account
Government securities flo 1851 Decrease f3oe o6s
Other securities. .... 20 53e565 Decrease. $50 3I2
Notes uncnployed.. 3,2IT 1885 Decrease. sO7 2I5
Tue amount q notes in circulation a2l ,245 being
nn increase Of 81 p3 l35, aud the stock u bullion in both
departments is fa,52sl7s showing decrease Of f5s5
ae5, when compared with the preceding return.
There has again been good business dong In the bull
lion market. and several arrivals have met ready pur
chasers al last week's quotations Gold has been taken
tcr The Continent 10 some extent aud the Bank Of England
has also taken parcels. The market Is pretty
ncary cleared Of American eagles and holders ask higher
rrtes than the printed prices.
Foreign gold in bars (sandard) per oz.......f3 II
SILVER ~ bars (siandardl .............
Coo con-Iortleal pieces ....,s......... Is
American eagles observation-disclosures 16 TLs
Dcuboons, patriot. ................3 10
Ditto spanish. .............. 3 is
Napoieons. ..ss.s.s*.........s...s. 10 .