New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-10-19


nancy ma,ke, and consequent low rates % IL
,erest which viii Prevail not only here bnt II hnfopA
drr;r, the nov, few months The Bank statement
of the w.es shows a continued accumulation u d.
post. in orr banks ana the same aggregation OF cap
ital Is coinp on in London and Paris. Such state
Of thincs ha. - natural vert in speculation, ana
sucb resnl, is looked for in the present cHse Inc
most innor,a,t advance To- day was in Mlchigah
Southern Guaranteed which opening at y, advanced
randy TO 5,l having been 81, Saturday. ms
movement "a based on the improved condition o. the
Road and the prospect of scrip or bond DIVIDEND
next wear or perhaps sooner. Reading was active
and although heavy at the opening bids, closed IN de
napd at an advance Of I, cent, private purchase
Of 600 shares having been made after the Second
Board 81 TIE bull influence in this stock comes
mainly from Philadelphia, where they possess great
confidence IN permanent improvement IN rs traile'
New.York Central was not very active. and the pears
IA NOT appear very anxious TO pat out short conracp'
7, closed at s;I against $50 on Saturday. Enc wa.
duIl. and has entirely lost the leading position for
merlv occunied a. speculative stock. We wee mis-
h,,n.a :, relation To the reelection OF s!y Moran a.
President. Tie election takes pacs, we believe, to-
morrow WHEN, we understand, minority of The
Board will object to a erstiauance Of the pres
receipts Of the Ete, up to last Monday, show
| a decrease OF $4,000, compared with the
same time last year. Rock Island was buoyant
and the reject bears appeared disposed to bull H.
1t touched 57i against 6Ji on Saturday. The oppor
tunty of the advance was taken advantage Il to pa'
ont 800 shares at seller sixty at 66l Toledo was
heavy in the mornny. but advanced to 3l at the Sec
ond Board. Pacific Mail aud Panama were steady
4 ri d. Il.
$4,000. The movement which We have before
alluded to- the absorption Of good State Stocks, con-
tnues aud rates are advancing, especially for such az
are rot likely to receive any immediate increase from
new issues Missouri's, of which some remain yet to
be s.ued 10 railroads are steady, but North Cardinals,
Georgias. Louisanas Minnesotas, &c, are being
picked up for investment at higher rates. Il is
generally believed that befcce January these
stocks will all touch par and the belief is certain
| " not without good basis. small sale of new
Government Loan made at 1911. The letters from
abroad conveythe impression that after January when
this loan begins to draw interest there will be consd-
cradle demand fer it for European investment. Rail
road bonds especially the Erie issues, improving.
At the latest the market had an improving tendency
for the leading fancies. The closing prices were: Mis-
souri, 81; Virginia. 81 d9fl; North Carolina e6l 81
n. Y Central. silal; Erie, 1871 az; Harlem, IL;
Hudson River. 2s; Reading 81 /; Michigan Central,
56ia ]; Southern, 24 as Guaranteed, 5il 0jj; Pana
ma ll9alI9, Pacific Mail, 1861 :, III. Central 50;
Gaena, S2a So; Rock Island 81 !; Toledo, 3ii a
IS, &c.
| In foreign bills the market, without activity, i
steady at the rates Of last packet Sterling 1907 NO.
Francs 5150512l.
Freights are rather rmer. To Liverpool: 800 bbls.
Flour, mostly at Is. Cd; $4,000 bushels Wheat, ID;
5000 bushels Corn at 3d.. 500 bales Cotton at 3l6 a
7.32d $50 barrels Lard at los. To london: 80 three
onarter boxes NJ 2s.; COO boxes Cheese at 30s To
Glasgow: 400 bushels Wheat, on private terms.
To Hamburg: 400 bags Seed, per steamer, at I'D. To
Rotterdam: II barrels Ashes at 20. ship from
Savannah to Liverpool at about I'd.
The business of the Sub-Treasury Receipts,
$3.50 093 0s-s49 eco from Customs; Payments, siS2,
I22 65-sis,000 California Drafts Balance, sog75,-
SOS II. The aggregate payment of California drafts
since the last steamer is about 100000 and one for
$4,000 remains unpaid by Of some informally
in the Endorsement. This brings the remittance by the
| last steamer to over 81 ,tOo,000.
| The statement of we KY averages of the Banks
shown, was not looked upon in the street as favorable,
the line of loans showing unexpected expansion, while
the specie lower At the present low rates
of interest the banks forced to unnatural expan-
SION IN earn uNuthiiN,
| largely contracted volume of trade cur city
bank loans forced TO point very nearly a. high as
was touched last year The business of the country
was expanded To its utmost limits. Ii is true that
some twenty millions have been loaned directly and
Indirectly to the General Government but this would
be but little more available in of such crisis a.
we had last October than the mercantile papers in the
portfolios Of the banks 1t is certain that but for the
dead calm which prevails in the monetary world our
banks would be in dangerous state OF expansion.
They have loaned about sixty millions of dollars
which do not belong to them, and which
they boand to pay on demand. Their ability TO
maintain themselves when so expanded, on borrowed
capital fully shown in the results of last October.
The increase Of loans is 100000 considerable
portion of it being from discounts for interior banks.
Many Of the banks, in order to keep up their lines,
have been forced to buy paper in the street. The los
of specie is 1868 O0o of which nearly $500 900 has
been by the Bank of America, probably drawn by the
Southern banks in correspondence with it. The nm
drawn deposits sustained remarkably well, proving
that the wants of the interior are not as large as
was anticipated they would be.
The following is comparative statement of the con-
dition of the New-York BenkS for the weeks ending
Oct. and Oct Is;
sl2S 500 249 sl24 ?6 7Ol Ine sei7452
Specie. ;.'.''.'.''' aso;va SooSss ne go SSS
Depo.ts........ l05j5Sss0 100, ig7n5S Inc. Sol, l3
Uuarawn deposits. s6Sso,2i Sc 5s9562 Inc. 1918
The Exchanges indicate some improvement in bust
ness. mainly, however, at the Stock Exchange.