The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-07-19

serious inconvenience than losses among the
importers who strong enough TO lose something But
the work Of cuvtsiment must 20 One hundred ana
twenty millions of loans too much sll5 ooo win
the present OF specie, would be quite enough liz"
the country been exporting usual quantity OF bread
sus had the price abroad been such as 70
immediate export OF the crop, the banks might
continue 10 expand or at least curtang for the
present. as IL s there is safety either for banks
merchants the prudent policy pursued he departed
from q single week. The ease with which money is
working shows that the banks have for devi
stne from the present The increase Of spece
carries the bank over twenty three
mlons-for the last time, probably for line %
pome. Next week the shipments OF Saturday last W IL
the aversge; and, at the importing, 1t will
no. 10 to look for a cessation of specie Shipments at all
events until breadsuifs begin 60 abroad freely
Than they doing a. present The increase deposits
accidental the natural tendency Of this department at
HE present time is toward decline
Some bank managers nave expressed considerable
sasiness 10 day at the large specie shipment Saturday
have announced their intention lending alto
gesher for the present But the money market
unchanged Both and stockholders report that
the amounts Of money offered them large usual
rhc for cali loans continues to be g. IS the
Standard figure for paper first class in quality and with
60 days 20 run. is evident that the number OF
borrowers the small TO sustain any mate
rial advance 10 the value of money Exchange du;
quote bar ksrs sterling bills 1lo14 i for 50 days
and l1o34 % for sight. The steamer Wednesday
viii PROBABLY take some specie, though less than the
Saturday packet which charge fraction less for its
veyancs.
The upward movement in the stock market again
sho~ed strength this morning, Though, as natural,
after the few orders Of the morning had and
the operators for rise had made purchases there
rrnde uta vpbi hnu
quently recovered New York Central very active
to-day the price touched 1877, the highest for
time. Parties from albany said TO be buying. ALI
the Western stocks better Michigan Central At
xActed especial attention. the price advanced A. cios
Ing At 4iA bid Galena, Rock Island Southern gusran-
tsed and Toledo likewise better. Hudsoa River was
In demand at advance Of u - q per cent. Pacific
Nail also rose from TO - per the publish
cd sale on Saturday, the result OF purchases made
strength Of the late steamer purchase State stocks
bonds were all steady, and descriptions were
higher to-day There evidently quiet absorption
OF the best of by the outside public In
the afternoon the market was moderately active and
stocks closed quite steady at the following quotations.
Assorrls, o3ts a yugnias CAS- "a; Csntou ISL a
10; Cumberland preIerred, l6 II; New York Central
7S'S y; Erie, 6S a Z; Harlem, lo4 a u; Hudson
River, 1855 q, heading, ASK q 49, Michigan Cen,ral
a414 "a; acngsn Southern, So p; 90. preferred,
a51S q; Panama. ll74 lis; LIMOS Central, e5 n
GaeDs and Chicago Is rs Clevelani and Toledo, 25
%; Chicago ana Rock Island, 6lal Is; Iliaos Ceutra
bonds, sSZ u 81; Pacific Mail, MA ~.
Toe most Important question Tor tie financial and com
mercal world at present what nnporsaons
gong TO bef they prove large in proportion as na
imporiaons Of the sprirg it s eviden, ,ha spscie will
cootnae to flow outward in amounts quite npecedepted
and that great distress must among i'm porters in
cooseq ence OF the inevitable the price OF 90
II, Gu the other baud, hey fall OF, The cornequer a., III
be, first, that foreign goods will Recover in v"
that the dram OF specie will be che" s 80,
The country will go into the A-N '- 80
fxir balance 10 " 49, ~
goods 0'eui' A"o 'ouN"5 oa'' eN0ueA '"
stimulate healthy trade. Many Of the importers
m TO think that the LATER su2poston Will be realized
that the mpostaoDE OF August and September vii be
very light they say that for weeks past has
evident ,he leadpg Importers that the business
being overdone frces have had downward
iendeIcy for time; he5ce, ence Jdiy l. at
al eveuts, few orders for foreign gods
have gone abroad. This theory seems plausible
enough Az least month has elapsed since called re
Of importers the large amount OF imporiaons
at This post and TO the prospects,, they CONTINUED, Of
great ssc! hces auction this fall 1t Is
able ruppose that at least Of the importing houses
sovice and withheld the orders which they would
otherwise have despatched to Europe.
But assuming that there but few cargoes Of ordered
goods 10 arrive after ls Of August what estimate
formed OF the amount Of goods that may be here on
consignment This is q matter On which very little can
be said with certainty Hitherto whenever wars or o.ner
troubles have dtur bed the flow Of trade in Earooe
tie manufacturers OF France Germany have been 10
the habit Of sending their surplus stock here in of
market That large quantities of German goods have in
fact found tier way here consignment this spring
PIT Cp.a 49,,
~ all our large importing houses advise their
friends here thai they short handed, and
cannot fill the orders they have. I. would
that the must have taken large number OF
worken from the factories 10 Europe and especially il
PRUSSIA ths be the case the quantity Of goods thrown
out of market by the will be smal er than NIGH.
have been expected, and the quantity consigned hs
country VIII be propor,ionatey lees. Making every alo
ance however for large decrease production from the
sause assigned, ii stn but too probable that bo,h
Germany and France gill have considerable surpus OF
manufactured goods this tall. the bulk Of which mast az
usual, be thrown upon MARKET sold for what
VIII bring This prospect must always be kept il nind
by all whose business requires them study the move.
meois in manufactured goods and the fluctuations in the
foreign exchanges.
The business of TIE Sub Treasury this morning was az
follows
Total receipts 1876, 1857 40
N"o''He lscU W
Iotal pay ents 1856 3g3 81
nA'-nes'''. 454l, lOo 40
BY the arrival Of the City OF Washington se have one
days later from Europe Cotton was better: gale,
had been made ct advance. Console are quoted
93 u, which is also advance. Breadstuds continue
dull, but there better demand for corn Provs,ps
were dull The oetss will be found under the usual
head.
The exchanges at the Bank Clearing House this morning
were ,975 90, and the bAiAooes s9il 800 S.
The Horrs Canal Company has declared ssmi annual
dividend of per cent upon the preferred ssock
per cent upap the consolidated stock bo.h payable Oh
lie % Of Augut.