The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-15

presented Immediately. The banks ere therefore likely "a
gan This week from the Treasury Within the next
weeks however, the remainder Of the new loan will have
TO DO paid up-about six milisas more-which will come
out Of bank
The market for the discount Of business psper
very nrm to-day, and none but strictly Arst class names
ofonger dates than four MONTHS discounted at
per cent while the transactions below that agure mostly
at six, confined 10 prime acceptances having from
sixty days less TO ninety days four months to rum
These rates are street rates. the banks charge full legal
rates.
Domestic exchanges with neshborng cities are in favor
OF Wall street, especially Boston, but with New Orleans
and the South generally the exchanges are rather against
US. The New Orleans banks at last dates we observe
have increased their specie line $3.50 00 while their loans
are stationary.
Money abundant at the increased rates of late asked
The banks mostly ask per cent for call loans and
seem quite ndsposed 70 loan at all CALL reseryipg their
means for their customers The trust companies loan
call at per private bankers at yc The dc
however, has been very limited to-day and readily sup,
Piled
Land warrants are very inactive: the Homestead hill
pending in the Senate has disturbed the market and
very few parcels have been sold. The feeling however
among dealers better to day. and there have been
Inquiries at current rates than holders would supply
The non arrival Of the overdue European steamers has
made business very stagnant 10 day The merchants
swered All their last letters on Saturday by the Kangaroo
and are awaiting rather impaenty for the ne 1t news 10
make up their mail for Wednesday.
The bank state ment published TO-DAY has had an nm
favorable influence the stock market and contains
lessons Tor caution 70 all our hnanciers and merchants
AIKEN in connection with our large importatons which
can hardly be deemed excessive if the CONSUMPTION Is
equal to them. Yet they bear heavily on the money
market. N'
being expected, bank deposits rapidly running down
(over four and half millions the last fortpigh and
ne consequence must be general decline in prices The
heh rates or exchange at the period very I'M
usual This the period for heavy shipments of cotton
which, with other exports usually equal to supply all
the exchange wanted Now large exports of cotton
are insufficient and gold is required supply the balance
as no other kind Of produce is shipping Our breadstulls
ana provisops are not wanted abroad in any
significance.
Compared with previous years, theypresent condition of
tnings quite contrast In 1866, began the year
with thirteen millions Of coin, which was Increased by
the middle of February 10 seventeen millions thence
gradually running dewn until the end Of September when
was 50, 800 600 only In 1856 began the year with
eleven mons and which was increased 10 seventeen in
June; and in 1857 began the year with eleven mil.
Lions which increased to thirteen and half in July.
This year have already decrease of about four mil
lions, which is likely to continue
The most noticeable part however is the decline 10 de.
poss, which usually increase ut this season. which
within few weeks have been Withdrawn the extent of
Sc GOO, showing that there much more employment
for money The South is likely to take specie
rom IFS within short time Amid all this il is satsfar
tory to notice that business is the There is
rather money in general circulation and less vet
VIII be allowed TO lie dle but less Of it will be employed
in the stock market.
The stock market is in the most apathetc state There
orders outside the board brokers' who enjoy the
game among themselves exclusively Money must become
less and less abundant as the payments for duties in
crease and the remainder Of the loan paid up so
tina, stock loans will be greatly disturbed within the next
thirty days The sales Of stocks very limited day
NO prominent buyers appeared. Pacific Mail Steamship
stock was The heaviest and declined "a per cent the
board where il closed ~ but after the second board
there sales at 75 afurther decline per cent max
ing the total decline in day 81 per cent New York
Central, with limited transactions, held Saturdays prices
Chicago and Rock Island declined u, and Gaena and Chi
cago 4. Reading advanced - and Panama u. Mich.
gan Central fell ~ Harlem preferred dealt in more
freely, both cash and time, Saturdays prices Mchi
gan Southern guaranteed stock declined a. and the
common stock q. Erie was firm Michigan Cen
trail fell of a and Canton -. Hudson River
was steady. The government loan is firm
er, at an advance of n the opinion gaining ground
hat the administration will not issue q loan Mis-.
souri, 6s declined a There sales of $50 oOo and
were pressed on the market California 7s declined
Il. Tennessee 6's firm. Vrginas fe5z Railroad
bonds were very inactive Michigan Railroad per cent
bonds sold at e5 which is decline Illinois Centras de-
rlioed i Harlem firsts advanced 2, closing at o. and
the tbrde sold at 70 Erie bonds were dull few New
York Cenras Of 1875 sold al s9, which is improve.
ment
Bank stocks rather active Ill shares being sold
Bank OF Commerce declined n Park advanced 4.