The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-08-05
FINANCIAL AND CONNER CIAL,
n - N EY n A II X EFT.
WEDNES DAY. August A.

WEDNESDAY, August 4-6 P. NJ.
On Monday next, at noon, the Secretary of the
Treasury will open the bids for the first half of the
authorized twenty million loan. Very little can be
gathered from the statements of interested parties
as to the probable amount of bids, or the rates. An
opinion is prevalent that the loan will not be taken
up, as was at one time expected, by any single
foreign house, or combination of houses; but that
it will be well distributed. This opinion seems to
rest on the which are current respecting the
amount rendered for by various parties, which are
said to be generally small. A contemporary ascrbes
TO the Secretary the belief that the other ten mil
lions will not be needed. This delusve hope will
soon be dspelled. 1t so happens, just at present
that the importations from abroad are coming in
pretty freely and, as a necessary consequence. that
the customs receipts at this port are increasing
Any leading merchant will certify that this is not
going to last; before month elapses the brief re-
vival in our import trade viii be over. 1t will be
well for the government if it can meet Congress
with any decent surplus left of the whole twenty
| millions voted last session.
The America went out to day with s7256n IL in
specie, which is near enough our estimate of Mon
day. Exchange was held at our last quotations up
to her sailing; but we hear of transactions above
1909 1897.
The Stock Exchange this morning was dull ana
depressed without particular change in prices. Ia
the total absence of outside orders, there seems to
he sort Of general impression among the brokers
that speculative securities ought to advance yet there
are few who have the holiness to take line on the
bull side. II is well known that for some months
several prominent and wealthy operators have been
buying largely the knowledge that they are large
holders and the annrchpnsiop Last +boy ,o;ol.
take advantage of the first upward movement
TO relieve themselves of the load, act as check
upon the enterprise Of the board generally The
bull operator ia Reading continues the contest with
the bears, though with less success than yesterday:
as compared with the closing price yesterday after
noon the stock closed this morning lower. The
bear interest, as usual is now becoming so large in
this security that the demand for stock for delivery
will soon sustain the market. Panama was likewise
duler and shade weaker this morning; the few
sales that made we're at concession Of one per
cent from the highest prices yesterday. It seems
that the English are not in the hurry that was i'm
agined to buy up all this stock. The Western rail-
road stocks were shade heavier. Gaena sold at
seq; Rock Island at below yesterday price; To-
ledo 4 lower Michigan Central, q; Southern, 4;
do. preferred, I. Milwaukee aud Mississippi was
accounts from England are said TO be more hopeful
Is dull AZ last quotations. Erie il lower; Central
steady; Hudson and Harlem both shade lower
good deal Of pressure is being brought 10 bear 70
induce the Central to diminish or pass the dividend
Several country newspapers are much concerned lest
wrong should be done. We have seen no reason 10
change the opinion heretofore expressed on the sub.
ject. There was a sale of New Jersey Railroad this
ulOruinO "a 1os1 Co
The business done in bank stocks and State securi.
ties was very light, and without change of price
Pacific Mail recovered two per cent this morning.
several parties having taken advantage Of the decline
to rally TO its support
The dulness Of the morning continued throughout
the day and at the second board prices we're lower.
New York Central fell of /; Erie, 4; Reading.
Panama, ? per cent; Rock Island. l. Pacific Mail
rose "a per cent. In Crosse bonds sold freely a;
decline Of per cent from the morning. The fol-
lowing were Groesbeck 4 Hoyts closing prces:--
New York Central, So; Erie, l71; Harlem. IL:
Hudson IS; Reading. i9l; Michigan Central. COZ:
southern, 23l Panama, III; Illinois Central. 73J:
Galena, Sc; Toledo, 35a; Rock Island, 7jl; la
Crosse, A.. DC. The market closed heavy.
The exchanges at the Bank Clearing House this
morning were $lG5lO.05O IS, and the balances
sl.09l 2si 30. The Metropolitan certificates remain
az S. 600.
The following was the business Of the Sub Trea
sury to-day
US fl3ep7b o.
~ "hth from Customs. ...........s.s.... Ii2000 %
~ lTe, fq6 %
Dshoe BIS 667 %
TIE Boston Post Of Yesterday thus notices the
money market Of that city,
some o. the broker report siabtlv increased de mani
ur money but 10 oiher channels the market seems 1,
rave gained In esse and abundance. Upon tie wh1is |
,nere no charge worth speaking Of The banks cont
me " ieb0 on cal ~ I've per oeat Recent TRANSACTION
lu oasses and sugar have tho qg4utv of gro
of paper - the street and thereby have advanced ne
fac cn ih~ c@s on notes say per cent The greiisg
pNt :" rahAnt business Continues 70 be done a. 81 Der
cent We quote the best roper offered az si< ~ a Al
though naIe outside peculiar negot soos A. ,c,
prices lbe bank specie has again reached npe r,lope
Boston " heavily IN debt n Ncw YORK
The movement Of The banks in the four pripcipal
cities Of the Union in which weekly reports az
made, as shown by their last statements /. a. fol.
lows
:, -, Lgs.. D,p..t. sJ.t,. Ci.rs,,j,g
boston, Aug $3.50 coo q 10000 $50 W bse5se
hiladelrbia, do. 1909 T55A7s0 lT0In 2Efge
Orleans, July "a ll,eE oa nES,i7i Oeis2g 7Ss9n
Tois s2l7 572 SIG Ii5 izl So 62aIeo 1929;
Last Neek.... 22t925 14lol.l5S 62,2924Sl 236Jl49t
The statements Of the Boston banks for the past
two weeks compare o. follows
JNlg &C. dyqpx 9.
tsps soek $50 90, $50 sa92ll $50 Dec, sso7co
i.osns dkcoupts bs602,6Oo So 10000 Dec 352 900
Due from other bks s2ss 200 5,757O0o Inc 5ii7Oo