The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-06-08
FINANCIAL AND COMMERCIAL.

Exchange Europe nat, and yesterdays prices are
sb,aiDed with difficulty by drawers. We continue how
ever, quote STERLING bills at ITO 1l0 for 80 days. and
noh for sight, francs 8 10 for 60 day bills and SIS
Sor sight The shipment of specie morrow, from pre-
sent appearances, promises to fail slightly short of mil
ION and half of dollars there being very large number
Of clippers. rhs amount may no xevsr be increased
the last moment as was the case Saturday last The
correspondent of the Rothschds shipping only $500
Money is in fair demand, without excitement the
fet The banks are offering money call at per cent
and several OF them are discouutiDg for their Gus
TONERS. In the street hear of extravagant
rates for paper which is considered doubtful; but
lenders of money report that they do not hai it
very to place their satisfactorily at anything
per cent The from England by the
gty Of Washington regarded holding out prospect
OF reduction OF the Of interest by the Bank of Eng
land and further per OF of general in mooey mat
tiers, which would naturally be el this country de-
sidediy as in England
No further failures announced to day. Aessrs.
Trenholm Brothers will send OF their firm to England
70 morrow, to take Of their bills and hold their cot
ton for the bank at Charleston. generally expected
that unless further decline should take place,
the creditors will lose nothing The liabilities of Me- Du
rand whose suspension also caused by the decline in
so,on, estimated al $500 600 Tue news per the Gu
srd anxousy expected by the cotton houses
Should it be unfayorable further embarrassments
may be expected.
II is understood that, few days since, Wall strest
broker, by name E. Belknap, of 60 Wall street, was
rested at the suit Of the Springfield Mount Vernon and
Ptsbure Railway a charge Of disposng OF bonds Of
that Company The in question gave bail and
liberated To-day further Developments appear in the
1t that in December last Mr. Bslknap, who
had been for three years customer of the Union Bank
and stood well the opinion Of the late President Mr.
Benipg presented himself that gentleman and stated
that he desired to pay off loan of $4,000 which the
hank had made him stock securities He handed his
check the Union bank mot certhed) TO Mr. Deming
who then returned him his securities On leaving the
bank Mr. Beknap stopped at the teers desk and pre-
scented check for $50 0o0, observing that he had just
been negotiating loan. The teller certified the check
without hesitation. AT 2 P. ~ that day the then
cashier discovered that the bank had been thus
drawn upon to the extent of s1es coo, and had
NO funds OF Mr.. Belknap's in its possession. On
calling on Mr. Beknap for explanation he told that
he (Mr b had been disappointed in obtaining loan
from private banker, and could make good his
count. The securities which be hnd obtained from Mr.
Demng that morning he had for warded TO
Boston, and would have them again his possession
until his fathers estate had been divided. some
discussion the cashier at length obtained the above
honed bonds Of the Springfield Mt Vernon Pttsburg
Railway, which said to be worth about $50 600 Mr.
Demng then made loan TO Belknap of the amount
obtained by him, and awaited the Of events The
bank has since obtained mortgage Beknap's share of
hs fathers tate, which worth SEQ 600 He is the
een the late John Beknap Of Boston, and for
years been engaged in business bank note broker,
With extensive connections among certain Class OF
Try banks.
The stock market continues depressed and prices are
acaiu lovyer 20 progress having made thus far
toward a settlement of the railway contest New York
Central sharply attacked this morning The price
opened 72 declined to TN, sold at IL, seller sixty
and Tx bid. Erie done at 5 the unsecured
bonds at 90 There is good deal of talk about the proposal
which has been made certain parties to lease the road
Me parties offer TO pay interest all the debt from the
cate of the lease and after three years 10 pay small
dividend the sock. This would be great improve
ment the present state Of things The Western stocks
lower There heavy GALES Of them based the
damage cucumbers and cabbsges by the late frost
doubtful whether the attempt 70 belief tina, the
wheat crop been injured will be successful; in pas
years money bas been made oy these stores but they
are becoming difficult to digest The truth is, of course
that wheat unpjured thoush wheat fly may nave
suffered somewhat. Bonds in fair demand State
stocks better at the second board there very
little business DONE and prices lower. The follow
ing the last quotations:-renneseees, 90 q eo1
Missous, 81 81; Vhgnias, 96 81; Canton lS2; Cam
berisnd, is IS; New York Cenlral 721S "a Erie, SO
a 65S Harlem, 10 10; preferred IS 36h; Hudson
River, 81 3l1z Reading, 351l 35H Michigan Central
81 AZ Michigan sosneTn 81 ~ ap' M 80
6SA a $50; Toledo z53s 4; Rock Island, IS So
Illinois Central bonds, SO sos Pacific MAIL sex 10
The exchanges the Bank Clearing House day
SIC 274 eco, and the balances 81 ,5.l ,4so
The business of the Sub. Treasury TO day was as fol-
lows,-
rn,et ro,a;nts 200 o.