The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-07
FINANCIAL AND CONNER GAL.
MONEY MAR X Il II.
Fanny. Nov.


lh,r, Was an active but not, as u general thing,
such buoyaDt stock market this morning as we
noticed at the close yesterday In some securities
quite an improvement is reported, while others re-
main without material alteration. At the first board
to-day Tennessee State IS advanced per cent; vir.
gina o., A; Illinois Central Bonds, .; Bank of Com
mcrco, A. Pacific Steamship Company, q Delaware
and Hudson, 2; New York Central Railroad, \; Mi.
chigan Southern, preferred, q Panama, IL; Galena
and Chicago. II; Cleveland and Toledo, 4. Reading
opened at 50, advanced to IS, aud closed at 34--sn
Improvement OF on yesterdays closing prices.
Brooklyn City G's fell of per cent this morning.
State stocks have advanced very fast for some days
aud some Of them are now so well up that most OF
the margin for improvement has been exhausted
As money becomes more abundant il will seek other
securities such as first class railroad bonds, and
take them up to points nearer their intrinsic
value a. productive investments. AT the second
board the market opened and closed with an up
ward tendency, and with more than the usual ac-
tiyity in operations. Tennessee State 6s advanced
per cent; Canton Company, /; Metropolitan Bank,
81; Importers aud Traders, /; Reading, q; Mich.
gan Southern preferred q; do, old, l. Chicago and
Rock Island declined per cent: Erie closed at Ia
Per cent, heavy,
Some II the drawers OF foreign exchange have ad.
vanccd their rates, without finding buyers Most Of
the transactions made have been at los per cent.
The highest points ruling 100 lilo per cent, but
these rates are asked BY houses which have no de-
sire to draw There reports in the street about
large shipments OF specie next week. II Is very
likely that during tue uext thirty or sixty days
specie will be going both ways across the Atlantic
without much gain either side but after that time
the amount win in all probability set entirely this
way. As soon as cotton begins to 80 forward &C.
tiyel, the supply of sterling exchange must be
largely in excess Of the demand. Our importations
have dwinded down to the smallest figures, and do
not much more than equal our exports When 1t Is
considered that this Is the rst importing port, aud
about the third exporting port in the country,
pretty good idea can be formed Of the limited
amount Of our aggregate import trade. This alone
will, Ia timc remove many of financial diilicul
ties aud place " again ia position g. tqudate all
our indebtedness, both foreign aud domestic The
total importation for the year ending Jane 80, 1858
will, beyond all doubt, be more iiu,.tcd than has
been known for many years. The total expectation
viii q course be les than last year, but the decrease
viii bc IN the shipment ST buHivn--i reduction not
likely 10 du ~ much harm. II the position OF our
foreign trade will permit Us to retain California
remittance IT gold for twelve months the general
finances Vi the country win be placed upon q very
strong aud substantial basis. The season has com
,ncnced nyoably enough to cnSire such result, if
the screw. ore not prmahrciy' loosened. Contrac
ton aud liquidation ore the only sire remedies for
~, liMeltcs aud they should lie rigdly and per
-c,cringiy praciecd
M. ..AIs,ala tAl tug Iglalg Central RNil