The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-07

TOTAL lor nine montnS. .xlu,6Oz
The amount of cash duties received during September
81 Sos &c., against 81 1886 received during
month last year.
Money very active to-day but rates not changed
On demand the principal lenders getting seven per
cent, though some loans continue be made at ca.
Very prime four months paper, with two names,
done day seven; eight is however rapidly becoming
the rule. No single name paper with perhaps few very
exceptions passes below eight per cent bank
Good customers obtaining money 90 90 day paper
at the legal rate of nteres 1t seems however, 70 be
generally understood that the banks will show very
markabe contraction this week.
Exchange Europe is dull some Of the bankers say
the market has opened for Saturdays steamers The
Rothschds correspondents holding 11o sterl
ing 60 days bills and lox for sight, for francs 5lo and
6I3h. These rates are, however, rather above the
market The specie shipment Saturday does now
promise to be large From present appearances much
more than half million will go forward
The stock market opened day with considerable acti
witty, especially New York Central which was shade
higher than yesterday afternoon Between tho boards
the market steady and rather weak in the afternoon
prices generally rather better, though there
very little business OF Central the sales very large
at prices ranging from 78 to 7S the price closed 7s
bid large deliveries Of stock sold yesterday made
to-day, and created unusual demand for the stock
The Western shares generally neglected Yesterdays
prices with the exception Of aena Rock Island which
were firm without any advance. Reading fell of sud-
denly 10 80 per cent closing 40 bid The of stock
on this market has greatly increased Of late Pacific
Mail fell to TO- closing 724 bid; this Is decline Of nine
cent in three days State stocks rather lower
and railroad bonds In tho afternoon the market
was rather better, and stocks closed steady the fol-
lowing quotations:-Mssouris 1914 x; Canton, TX a
and Coal a. poci Moi; u,
New York Central 7sX q 70; Erie, * a y; Hudson
River, IS u; Harlem, az a 4; Reading, 40 a X;
Michigan Central, AK -; Michigan Southern, * a
81; do. guaranteed, 3ox y; Panama, III Y; ILL.,
nois Central, SO "; Galena and Chicago, TN III
Cleveland and Toledo 2ok n; Chicago and Rock Island,
65%ah
There considerable talk in street about the ate
contest between the Pacific Mail and Vanderbilt The
last news from the two steamers by the pilots
ows-Thc steamer Northern Light left her pier iNeen
minutes behind the Baltic. She passed the Baltic below
Staten Island the passengers giving three hearty cheers
When the pilots left the Northern Light was six miles
ahead The pilots say she flying away, with the sig
nal "U. s. MAJ" streaming from her mast head.
The business Of the Sub Treasury to-day follows
Total receipts ......... &1o3 1866 0s
-ror custoins. OBSERVATION-DISCLOSURES. $1,000 90
no;aI pay mens'.....-. ............... 202rs2 %
baihnct $50. 364 20
were go 1907 430 IA and the balances 81 o4s $40 66
We have received from a leading city bank communi-
cation on the report OF the Clearing House meeting Our
correspondent denies right to be present at such
iDgs because, he says the Clearing House Is "ereiy
place where the banks effect their exchangesa purely
private matter with which the public have nothing TO do
We deny the fact is not that the Clearing House
rs "merelya place where the banks effect their cx
changes" this were true bank presidents would have
no business there than reporters From its first es
Establishment to the present time the Clearing House has
not only served as place where the daily exchanges have
been effected, but likewise the only place where bank
presidents have met to discuss and decide upon matters Of
common and public interest II the Clearing House
that the bank presidents discussed decided on the re-
aase proportion Of specie which each bank was recon-
bsanded TO retain in its vault Was not this public mat
terY and were not the public entitled 10 know tho views Of
the leading bankers this omentous subject 1t & at
the Clearing House that institutions are admitted
into he great family Of city banks, Not many
monbs ago. FOR instance the Mechanics Bank.