The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-12-21
7os,l2l
bse ,o45 3e,53e

decrease bse ,645 39,539
The decline in specie anticipated by all who had
watched the OF the drain the South At the pre-
moment the banks do not, in all probability, hold
so o0o and OF this from 100000 to 81 900 900
viii 20 out the Persia besides any shipments that may
be made this week Southern ports AT the present
OF depletion, by the time the new ten million loan
Is taken the bank reserve will have fallen
below twenty millions. Tho country and
viii be MI the better that account; but such
decline in specie will be felt severely by The borrowers
whose wants consulate the above 1927 05o 010 or
loans. Though the banks only show in Their statement
some four millions Of loans to brokers' il wei known
that brokers net the only persons who occasionally
borrow stocks, and that the amount Of money now
ined out stocks directly and indirect y, by the New
York banks is much twenty-fcur than four NIL
Ions. II might become necessaryinieed, when the new
ten million loan awarded, it must become necessary
for the banks 10 call at least part of these loans.
Tha, they viii do suddenly, without warning and
muaneously with each other, experience forods to
deny; what the consequence must be every one can rea
dIy perceive.
To day there is change in the money market which
is fully supplied with money at the last quotations Rather
ciicumsnecon in the choice Of coaeras and paper
is being exercised al bank and at the loan brokers' FX
change Europe keeps up; the best bankers sterling
bills going at lo92i q, and francs at 5l2 1871.
The PRINCIPAL topic q discussion among financial men is
tie government loan All parties agree that the lean
VIII not sell well the last and that It's rate Of sale
might have been higher had been issued earlier. Tho
fvos Of the loan which issued months ago,
sold to-day At 1919 at which rate many of the original
buyers lose money
The Stock Exchange very duh and depressed TO
day, the only exceptions the general decline being
Of the state stocks and Panama. which stronger The
DISAPPOINTMENT stocks dealt in al the board were the West
roads-chehy Gaena and Rock kland-both OF which
declined heavily. Rock Island az time touched 59 but
recovered to at the close The Michigan shares
rather steady. Reading active yesterdays prices
New York Central neglected ard did not vary much
Illinois Central declined two per cent the best bid at the
close being &C, while the bonds offered at 81. We
have believe that the affairs OF this company
BY means the desperate condition which they
represented by parties the street. The amount Of
ney required year viii be less than 5000 00o which
could be raised by assessment Of So share on the
stock The English holders, however prefer the
money by the sale Of bonds We believe that they are
prepared 10 10 so without delay taking the coppany's
seven per cent mortgage bonds at 100 cents On the
dollar The English shareholders are quite able
TO take lhesl bonds and divide them up among
each other; it is their fancy TO do so rather
than 10 ny fresh assessments at present Were this
paratiyely small amount raised the company would be
from trouble any I'LL January, 1900 ana
rise in the price of grain should take place year
would naturally do profitable fall business The
1t pres 2nt-owing 10 the depressed condition OF
things in the West and the inability Of many Of the tc
1ans Of the company TO pay UPS about ri 100000 the
amount required for interest, &C. about 81 600 The
closing prices Of stocks today thus quoted by GToes
beck s. Hoyt'-Nissouris, SOS az; New York Central
s35a A.; Eric ~. =; Reading, SIS ~ Michigan
Central, 49, 40; southern, Preferred 4Ta4 = Gale
M, 7oN ~ Illinois, 90 67ai; Toledo, 81 Il Rock
Island 20 - Pacific Mail, eo9s =. The market closed
heavy.
The following was The business Of the Sab Treasury to-
day
prom Ah-toits
Ints 9syh'ts..s $3.50 4.
iota psiahce biS' y5U0 VI
The hargce n the Bank Clearing House this morning
amounted TO 81 OH CO. and the balln 1874,
374 Il.
The bank Of toe State Of New York has received from
the second Auditor = Virginia the funds to pay tie
coupons l.; lsnuury the bonds Of that state
The Broadway Bank has declared semi annual diy-
deud Of aye pr cent, payable January 3.
The receipts ~ the Boston and Worcester Railroad cor
IT, wear ending November 30 Were ss23 re7 si-a de-
crease 1867 seSe5o s.. Toe expenses have been
reduced s4gGi3 aGleavny income sufficient % pay
six Ter yearly dividend and the Of $50 900 FOR
the sinking foni Tle surplus remaining after these are
deducted IL s2ovol.
The following a summary a. tho anthracite coal trade
= TIE lchgh and schuysil regions for the week aud