The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-08-30

aibrd merchants all the assistance they can legt
mately expect in October and November, and will
obviate all risk Of general embarrassment. Provi-
dence has interposed most opportunity 70 protect
us from the consequences of over appropriations by
granting the West Q superabundant crop; only
remains now for the banks to beware of repeating
the error from the penalty Of which they hare thus
escaped.
The circle OF buyers at the Stock Exchange
widens, the commission business increases, and
prices continue to advance. The facts presented
in this mornings HERALD in reference to the past
and future movement in Western breadstufs were
The subject of much comment in financial circles;
the prevailing opinion being that, in consequence
of the unusually small shipments of breadstutfs
from the West this spring, the fall and
winter movement will be unusually large.
There are many who can recollect the time when
iorwarders had to wait ten days to get their pro-
duce sent over the New York Central and Erie the
| more sapguine among the operators of the day
predict similar rush of produce to the East this
fall. Thus far, however, the movement by rail is
confined to Illinois. The receipts by the Rock
Island, Gaena and Illinois Central continue to be
very large, and may possibly prevent the antici-
pated decline in the gross earnings Of August, as
States the effect of the crop will not be felt till
| September. The Michigan roads, the Toledo, and
other roads in Ohio and Indiana will probably show
falling off in August. When the tide of traffic
does reach these roads the increase will be very
great The most active stock the list to-day was
again New York Central, which opened at 742-an
advance Of t-rose to 742, and closed at TAI bid.
A sensation was created by q sale of 1000
n1o 30 <6c o.a
and for some time the impression pre-.
| vailed that the sale was fictitious. We
presume it to have been genuine. There were
| large purchases for cash at go TO- on which the
profit accrued is large enough to tempt the buyers
| to realize. The prevailing opinion among the
friends of the stock is that it will shortly stand at
the old price--between so and co. All the Western
stocks were active-partcularly Rock Island,
| which advanced per cent. The President, Mr..
Farnum, is in town, and reports that the business
offering the line of the road this fall will task the
capacity of the road to the utmost. Toledo ad-
vanced Il per cent. The earnings on this road are
likely to increase very largely in September; the
expenses are less than at any previous period in the
history of the property Had the Toledo five years
| ago dscon tinued running on that portion of the
| road which they have now abandoned, the company
would have been in as good condition at present as
| the Ashtabula line, of which the stock is ten or
twenty per cent above par. Michigan Southern
| guaranteed is very firm at an advance of II per
cent. The bears are making their deliveries at a
loss Of four or five per cent, and renewing their
contracts at large difference from the cash price.
| Hudson River was in demand this morning, and
| rose one per cent. The intrinsic improvement in
this property would tell upon the price if the stock
| became active. The business in State stocks and
bonds was very light; prices were unchanged
Erie bonds continue to be in request. Michigan
Southern second mortgage sold for As. We notice
sale Of the new Missouri sevens, issued to the Pa
cific Railroad at IS. These bonds just bind
ing on the State as the skies, which command 824
I. In the afternoon the market improved, and
stocks closed firm at the following quotations.
| Missouris, s2s a 4 Canton, la lsl; Cumberland
Coal, l4A Is; Pacific Mail, s24 ]; New York
| Central, 745 IS; Erie, 81 6; Hudson River, a42
! q So; Harlem, l0s J; Reading, IA q 4; Michigan
Central, Asa 46; Michigan Southern, o 4; do
guaranteed, 25s 26s Panama, ll73 lis; Il
linois Central, $50 &c; Galena and Chicago, 69l
a !; Cleveland and Toledo, Gag J; Chicago and
| Rock Island, 662a5.
| There is no change in the monos' a"o'Avf' Tie
| demand, bull, fruu merchants and brokers, il
/ u
| conservative policy the amount of money seeking
| employment has considerably increased. Exchange
is still quite fiat. Leading bankers ask Ito for go
day sterling bills, but no sales Of any amount could
! be made ut these rates.
The business Of the SubTreasury was as follows
to-day
TOTAL fece pI6 $1xo ,6xj W
~-Eor CuE'onb.. ioSVu0 w
total payments. 49o,V3e AZ
ba2nCe .4,sAaoo %
The exchanges at the Clearing House this morn
ing amounted to s22, ol2 49, and the balances to
| 81 ,34S ,035 &C.
The Baltimore Exchange of Saturday says
The money market has sightened up somewhat within
the week, and money less easy obianaDie than it
both n tho banks and the street Tue street rates
loans have advanced and quote prime endorsed
paper At TX per cent, and clsss single name do
! at 9 10 per cent tor short and long dates.
The cash assets and liabilities of the New Orleans
banks on the Goth inst. were as follows:-
| Banks. Loans Specie. Circulation Depost.
Citizens 81 649,76 62o72 342T COS 4O7S Q5s
Canal ......... S34 Ss8 i4tl,4s3 9s3l30 9I9 4oa
Louisisna....... 2a25as2 2I2!sos sees74 a,2144 ~
Lou. Stase... 3s66t36 $3.50 679 2iS1 800 1850 Sa7
| Mechs and Ira. se46a0 s57,Q47 335S96 656,e57