The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-27
FINANCIAL AND CONNER iAL.
MONEY MAHKEr.
THURSDAY, Aug. BE-,

| The news which was transmitted this day over
the Atlantic wire, TO the effect that peace had been
| concluded between the Chinese and the maritime
! Powers Of Europe and that further successes had
attended the British in India is calculated to
exercise considerable effect the markets Of Ed
rope. Specie will to great extent cease to flow
towards Asia. China, it will be seen has agreed to
pay heavy indemnity all Of which will be paid in
silver. 1t is likely that it win amount to enough TO
pay the expense of suppressing the Indian rebellion.
Should this he the case Great Britain will retain the
swo millions of pounds, or thereabouts, which she
has latterly been sending every month in specie TO
! the Asiatc continent, and will save, besides, the
severe drain caused by the Chinese war. 1t cannot
be doubted bat that consols have risen considerably
! on the news.
| Partly in consequence of this news and partly
from digested consideration OF the report OF the
Conference Committee Of the belligercnt railw lys,
and the statement of the July earnings OF the New
York Central, stocks were buoyant this morning,
! with an improving tendency. We have not been
able to discover any traces Of outside purchases the
commission brokers declare that they are receiv-
ing no orders to buy, but the speculative iobbers
in stocks evidently the alert for movement.
They seem to have concluded that stocks must
ing, provided the Erie and Central quarrel
be adjusted and the money market remains
as easy as il is The leaders among the bulls
are generally the old bulls who were 80 successful
between October and March last and who have been
30 unsuccessful ever snce the bears consist Of some
Of the remains Of the bear party Of last year-thc
steamboat party and one or two prominent opera.
tors The forces are pretty evenly divided; but the
4 T..
the buIls. Central this morning improved : per
cent; Exc, j. Reading, Z; Michigan Central, ];
Southern, 4; preferred, Z; Gaens, 4 Rock Island,
Z; Toledo, j. Milwaukee and Mississippi, !, &c. Pa
cifc Mail was per cent better Panama was
steady. Delaware and HUDSON was a shade lower.
Among the bank socks the only sale OF consequence
was fifty shares Of Merchants Bank at III There
was a sale Of the new government IS at the low
est sale yet reported. Nirrnas were rather better;
MiSouIis held their ground without change ia price
The La Crosse land grants were : per cent better.
TIE market closed firm. and after the board was
almost rampant.
After a brief period Of extreme excitement. how.
ever, slight reaction took place and prices settled
down at the closing prices Of the morning. These
the curreat rates at the second board but the
business done wss small, and no scarcity OF stock
was noticed. The only change Of any consequence
that took place at this hoard wa. an improvement
Of FER cant In Erie based, il is presumed on the
prbSble results Of the meeting of the Erie directors
which took place today, and passed upon the pro-
posed bargain with the Central. The closing prices
at Groesbock uoyt's after the board, were:--
Mssonti's. 81 !; Central, 10 Erie l79 q Isl
Reading, 4sl i9l; Michigan Southern, 49, a "a;
Panama. 1885, Ia; Illinois Central 7Cs II:
Gslerla, so J: Toledo, 3li 4; Rock Island. 72l
n Pacific Mail, 5SI !. The market closed steady
The exchanges at the Bank Clearing House this
morrirg we're sl7s97,lu Oj, ard the balances
sl,a1e,g0 S.. The Metropolitan certificates remain
az 5000
The business Of the United States Assistant
Treasurer nj this port has been follows ths day:-
Total rcccp ~. $685. C.
vi N1ica ucll epstoslS. 5000 90
-oai "a, tiA,1i3 ~
Total balance t3 5fo'cli 81
There is no change in money or exchange TO re.
port md little business doing in either. We quote
sterling exchange ~ 1905 a 1929; on Paris, SIC a
5.lIl on Bremen, 10 7si.
l. Is said That Tie branches Of The Tennessee banks
VIII resume specie payments on the Isl Of Septom
Der. The Nashville Patriot gives the following Ia.
BILE the gist Of the results obtained by the Inyes
tgating Committee into the financial State ir.
regDartics, and especially the overpaymeat Of in
&c.,