The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-25
Increase. siso,So6 sl,a44 5000 900 o 90

decrease = 1913 $50 1928
Thus appears that the Of the has been
very slight that with the exception Of the deposits
which have fallen Of $3.50 ,o23, the other amounts
comparatively unchanged The gain in SPECIE spite of
average export is due Of course 10 the large drafts which
made Inst week upon debtors in New England and
Pennsy lvana Next week will witness translation of
a large part Of this specie from the banks to the
sub-treasury, to the advantage of both. We
wish we could hope that simultaneously with this
necessary reduction of specie the banks would pro-
coed reduce their loans. But among ban8 there
sign of any such thing curtaiment. The
import trade Of last week. and the high price at which
exchange stands toerabe indications Of the extent Of
the that will be done this year If the banks begin
with hundred aud thirty millions Of loaus, where will
they end?
To morrow is packet day; but yet there is nothing
worth mentioning doing in foreign exchange. The nomi
nal rates remain as last quoted-1O9a for bankers
sterling, and 1888 1924 for good mercantile bills
francs at Sis $40. Money has been dali and quiet
today the general feeling among lenders well Dor
induced them the OF the loan
We hear OF few transactions very low rates in very
short paper and the brokers borrowing low as
they want. But the unwingness 10 discount long paper
at the old rates is to-day very marked.
The stock market continues TO present the aspect has
worn for some time past. The commission brokers
are thoroughly idle; a few prudent persons are
availing themselves OF the present high prices to
turn their stock into money; with this exception
the public has share part in the transactions
Of the Stock Exchange. Since Board of Brokers was
first established it is doubtful il there ever was SO little
buying behalf Of people, either for investment
speculation. Within the board the unequal contest
which has been pending for the last month"; between
speculative house some half dozen or more bears
continues to enven the The speculative bull buys
everythng-Missouris, New York Central, Harlem Viz
gnss, Illinois Cent? al Panama. Rock Island and Galcna
but especially New York Central Stocks which he buys
remain steady stocks which be peglccts, as Reading
and Michigan Southern, decline If he we're away
for week there would be collapse This is the
only feature Of tie stock Exchange at the present
time When this feature is stated the task OF the re-
porter is fulfilled; until 1t Is stated, that task
neglected and the public left ignorance Of the real
matters Pacific Mail shows a tendency
ircm the extreme depression of the pas, week It still
siaucs, however, some per cent below the point at
which Il ruled after the dividend declared Panama
IN Ike manner, has fallen or per lis div
dond. Missouris Ia. The rule be- that while
people in these times will hold stocks dividend they
nre almost certain to sell them aferward, and thus
hat The pa! ment Of dividend is likely to cause
decline the stock. Reading was very weak to-
day We have received, from a quarter apparently
wen iniormed some structures on the last report
which 60 to show that the Reading has ceased
10 he profitable enterprise, and that il has before IL
career Of extreme difficulty and embarrassment What
ever be the facts shall hereafter give place
Of the cacuatlopstherc can be question, think,
but the purchase Of the Lebanon Valley road
error, considering the prospects Of that road and the
trying position in which the Reading itself at the time
the purchase was made Gaena sold this afternoon, ex
dividend, at 90, equal to H. dividend The closing
prices at the Stock Exchange werc-Mssocris s6% ~
Central, S4sl u; Erie, lax x; Reading, ASH y;
Michigan Centya SO " Southern guaranteed 46js AZ;
Illinois CcntHYtsx 90; Gslcna, go u; Rock Issnd,
oo%a Al Pacific Mall se% a X. The market closed
steady