The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-09

Inc lineage ffeSS Oh luesuaS evening Says
The past week has been one Of unusual activity. In
fact since the LIST Of September business all rail-
ways and in the city has been steadily increasing The
gratifying fact was announced yesterday morning that the
shipments Of wheat for the last month exceeded those of
the month in all the previous history of the CITY,
This increased activity has about drained the banks Of
currency, to speak more accurately 1t has brought
down the amount in hand to the lowest working limit
Yesterday and to-day reliable produce paper
offered than the banks could take single house dis
counted to-day the amount Of $4,000 This was the
last day for the collections Of the LIST and 4th Of October
and learn that they were very generally met. We
told they would be heavy but footing the figures
Of five Of leading banks found them $171 ,0O0-a
much less than expected. Probably they were
at least 900 per day Monday and Saturday pre-
vous. large proportion Of this local paper The
fact is significant and shows that warnings regard
to purchasing as few goods as possible have had the
proper effect. Our merchants and .jobbers, however,
have full assormens and can meet all the demands of the
fall trade
Exchange went down 10 4 on Monday and these are
the 1current figures today. The pressing demand for
currency makes holders anxious to sell Sight drafts
Buffalo and oswcgo freely offered in the for
currency at par. This is equivalent to about * 70
New York, which may be regarded the outside rate.
In the present state OF the market further decline
be confidently expected. There no demand for gold
and rates are nominal at ~ premium. Little or
nothing doing outside OF bank. Our railways are begin
ming TO showthe effects OF the crop and the greater
activity in business circles.
We read in the New Orleans Picayuae Of the LIST inst
Capital is everywhere abundant and the demand con.
tnues limited both at bank and on the street In fact.
when consider the activity in general business depart
II
financial circles appears somewhat paradoyical to the
casual observer An effort this week put up rates has
thus far failed and the market closes quiet at previous
quotations.
The exchange market has been unsettled from the open
ing 10 the close OF the week Daily offerings have been
light and the demand throughout Indicated unusual mac
tivty for the Rates uctuaed from day day
especially in sterling bills and sight checks the North
but at close Of business this evening prices ruled precisely
at the same figures quoted in review for the pre-
vous week. We repeat as follows
Clear sterling bills. 81 81 per cent premium.
Bill Of iadng drafts 81 per cent premium
Francs. ST. q 81. Is per dollar
Sixty day bills the North i z per cent discount
Sight. u dis. to par 4 per cent prem.
The st. Louis Democrat OF the 4th says
II is almost impossible, without loss for the savings
and other houses to sell Eastern exchange at the regular
rate OF premium for Missouri funds, they have TO
assert these funds and purchase the exchange at pre-
MUM 1t must, therefore, be only for the public good
that Of these houses still continue draw at this
rate for their customers.
A few OF the houses sell exchange the Fast at
per cent premium but the following the rates the
State Saving Association charges it, regular customers
to-day
FIR Gold. No Fand H. d Wis.
Sgh' on the n East, * prem prem. "a prem.
The same house buys Illinois and Wisconsin currency
at x 7. discount for Missouri taking Ohio, Kentucky
and Indiana al par.