The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-07-20
bank discount hNe viii derive bench nom little con
sideration Of ''c,s sact

oanR ohooun' -" viii derive beneh nom 2 Mtt6 con
sheraton Of .ns fact.
The Expectations this port 70 dave c1cess those
q any previous year. and the crt Of specie largely
In excess Of any former Cd. 9th are going on |
steadily % morrow the steam will probably take out
over half million; Saturday p, kess may take out two
millonf- making five millions Of ars for the for night
Last weeks mportations six an quarter mlions
those OF the week before fea. and half The indi,a
iiors are that seeks w' be fully age the last
the ports ~ ths port for he molth viii
Tot fall fur saort Of $26o,ono Yet there aoancsl
Who not scrup cay that the banks might safely
sroro 70 increase ,be.r discount line
1t seems bu' too hkey tnA. The New York
marko, for dry goods and many oher foreign i'm
will THE fan be glutted, and hat banks ~ill wi.
drain ofrpsce which, II they uppepsred FOR
t, ~l put snen 10 grave inconvenience rests pisioy
:h,m &c DECIDE how far the inconvenience ehsn ex
.ud ,bsy keep reducing their discount ae ~ fat
speox declines, there viii DO asoc, end
.lisef be feii outside rauks O, tia
-urlers, a sney delay toe contraction cpsas thee
a ~ TSr7-Ines ~ y Odd themselves in o5,ober mex,
dangerous position.
Fe IT, rest ne country a. large carnit Nc u perna
er loer BY sxcsesise imports Every Sso Of dry gooas
,nppsa from Ger oasy Ua,ed sacr SOLD here
ess than snd send !. over, enric1es
ms couJty At Ea coe; OF sbe manufacturer acd TIE m
"a aotarer. Nihe Germsrs, sns fsn, send us City NIL
90 dc than ,se country Iesl wants, She loss
ia fell on hem ana their agents hsre, and the
purry AZ large viii be able 30 re,.enish
stocks O. unusually low price This, il
true, lie DC. the g1rt OF trade whch u ia agree
ibe 20 carry with foreign Daons; oa. the res pohsi-
0,,y the presen condon Of things rests, not With
hose VITO will proaS by collapse IN prices, but with
vino ~ill cse by sucn event
There inquiry ter money to cay several lenders
navpg stnd from the market progress
Of evens Ro 1nl 1t impossioe, however, 70 alter oar
quotations. The best mercantile paper 81 aays still
sets readily a. per cent abort frs. csss a;cep.ances
sae5; fir long paper. two nsrre' To- according -
ne standing Of the parties s.; Call osas Cootinue 10
apge from 10 6, lie after Ggars beug densn led at
bark the former accepted ~ parties
u the troxets oices Exchange Europe s dai, wa
ut charge Of rates. We cou;nue 10 quote sterling bla
llo4 q FOR 60 dsJs aud llOsl q for sight francs
6iA a5l2}a for 80 days, ana 10 for sght. The do
msnc for francs has sacke1ed Of 'a'e che amount OF
sp.cstogo outin the Saturday Will probably
ne about half million o, dollars.
rhe stock market opened very firm and strong his
morning after The fIss CALL the osders Of the
bav.re been executed prices gave way somewhat; be
abe boaros they rallied in the afe.nJo9 they
gain rather lower cosas heavy. These fluctuations
natural in snch set we have The pre- lopde-ans
force the board the beag eide Inc leading o.a
obbes have contracts onndg tor thousands Of lares
q stocs which oapnos be baught without cIGs ne
rial advance prices On the osher hand there
ball operators who very Gid and very cautious and
sho no SO FAX as learn, Operating ia
with each other; these parties assisted by mode
rate purchsses oy outsiders This brief statement OF the
poH on OF parties s enable the publ, to understand the
rapid vibrations OF tie market AID TO form an opinion
to s pi obabe course 10 the future When the bull party
deodedy in The ascendant tbs market does not vibra
but rises seaoil5 from Gay 70 day again. when
the bears enjoy undspu.ed control, the market
uniformity in downward dir scton Is only waea the
parties evenly balanced wnen, as at present,
change ssems 70 be coming the dealings a. tie
board that prices move ie7ergny, Tsns ani falling al
tenately tGo three times Gay. For the leading sps
culave stocks the prices realized this morning the
higbee that have ruled for time Nssouris advanc
ed a New York Central, "a a; Reading, 4; Pacific
naii,Is. Iueev Pars.s go. - -
call. The Western stocks we're all fracaon yer Rock
Island declined a. Gaepa, a Michigan Central, 4; South
guaranteed "a Toledo Is The beirs prepared
state that ~ these roads will pay the mex. int,
rest On their bonds Tas apprehension s not yet So
by the managers who have come l.te interest IN the
EATER In the afternoon The market Yer. q CON
ceIted and successful attack being made Michigan eu.
arteei and stocks closed heavy At the following qro.a
.ons:M,soars, 93H Is; Nev YORK Central, 74aI "A
| Erie, ess q; Hudson River, 354 u; Harlem, To-;
ReaoiDg, AK e; Michigan rensrai, - 43; chgau
Southern, ia S; do guararteed 23}4 Il PsqGml III
q; limos Central, 65 Galouc and Chcago, 6i5z
u; Cle7esnd ana Toledo, 2I3s 25 Chi;.go and Rook
Island, o. a 4.
The folio @og was the business Of lie Sub treasury to
day.
For customs. ~ 900 90
LotAl i3.l0t 81
q
The exchanges at the Bank Clearing aouse ths morning
SIS ,245 ,l76 % and the balances 81 o64 1902 ca
The oli~ing dividends have been declarei:-r,e Blnk
of Mobile semi annual dividend o. Eve per cent pay
to the stockholders registered 10 Sans city, oa mad
n, be kerconnts' Bang 'he Come Insl-snce ronpsqy
! dividend OF zen per cent. payable on demand.