The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-01
FINANCIAL And COMMERCIAL

=. FRIDAY, Sept. 80, 1850.
The furry in &c money market appears to have sub
sided money abundant call at per cent and short
paper finds ready purchasers at OK There IS sni
dkncnas "a the part Of the banks and bankers TO ds
kong psper is mostly disposed of by being lodged
collateral for demand loans IN the present condition
cfsrase, and with money cheap as il is abroad the
market presents great obstacles in the way Of advance
n rates.
The foreign exchange market is dull and somewhat
lower rates have been accepted by drawers especially
IN the case of commercial bills The leading drawers
Offering 1897 for commercial bills, and asking lfol4
FOR their own but at 1l01a the demand IS very slack
Francs are quoted at 5l2l. l3%. The shipment to-
does not promise TO be as large as was at one
time expected Including silver, it seems from present
indications that the total shipment will not exceed
million, tbereabouts of which the Rothschilds'
agents ip than half Considering that since the
California steamer arrived only $4,000 have been sent
abroad this be considered small shipment and the
banks will make better show Monday than was at
one time expected.
On the Stock Exchange to-day prices we're shade bet
Yer. The market opened very quietly, but rathered
strength the call progressed after the board it was
very steady: in the afternoon however, there was very
bttle done, and the general market closed weak New
York Central continues the leading speculative stock
opened at 81 -, advanced TO 81 and closed at 81 bid.
There nothing from the road the business eonn-
good thought may not up TO the extraNagant
estimates which were current few days ago Galena
and Rock Island were both rather better. The former
opened 1885, sold at "a, ard closed at 1a4 lid the lat
ter opened at Coz sold at e. and closed al 681s bid
The month ending to-day will show, on both roads,
handsome increase last year Ilnon Central was
steady The Michigan shares inactive. Toledo fell
of suddenly two per cent without any other than
the absence of orders buy this stock TO have
friends the Board Pacdc Mail also declined two per
cent to the paint at which s;ood few daye since; yes
terday's advance simply due to demand for stock
for delivery Hudson River rather more in demand.
The business of this road for the fiscal yer ending this
day has been the best done on the road. State
stocks and bonds in fair demand at steady prices
The last quotations of the day were as follows-vrgna
6s, e4l4 a X; Missouri 6s, s34 q; Canton, II a
x; Cumberland Coal, II 1919; Pacific Mail 7os. SO;
New York Central, s114 a q; Erie, s y; Hudson
River, S5 u; Harlem, el5 "; Harlem preferred,
Sc a; Reading, 43A A; Michigan Central, 49, a
~ Michigan Southern, ga g. Michigan Southern guar
pnteed % d Panama. III "a Illinois Central, 665S a
CT Gaena and Chicago, 1879 a. Cleveland and Toledo,
21A q; Chicago and Rock Island, 66js q; Illinois
Central 7's, S814a
The books Of the Erie close today for the election Of
directors is supposed that the receiver Mr.. Nathaniel
Marsh will be elected President whether the other drec-
tors will be reelected or remains be OF late
wears the stockholders IN the Erie Railroad have taken
little interest in its miserable doDgs they have
generally been willing 70 send their proxies Mr.. Drew
Mr. Marsh and these gentlemen have reeectei their
own board year after year Tie stockholders viii no
doubt forward their proxies as usual this occasions
has however been suggested tina. Mr. Drew should allow
some new men TO into the board and see whether
they cannot suggest something feasible and more
thp of nut
by the Board Of preGse:: There doubt many ex
eeent among the Erie directors cut as they have,
as q board of direction, achieved most remarkable
dasco, 1t would be but decent for them now 10
give new men a chance. People are anxious to know
how long the receivership is TO last. As Q worry
Ing machine, it may be, and no doubt is, an
efficient one but II is said 10 cost twice much
the monstrously expensive Moran regime did. As road,
the line will not begin to revive till it emerges from its
present state Of disorganization and uncertainty.
The dry goods import entry for the week is large
agal$ $50 0o0 against 81 200 600 same week last gear,
and 81 900 600 week in 1857 Yhe total import en-
tries for the calendar year to date are So against
600 for same period last year, and 2OOvJo Tor
same period in 1857. Over two months have elapsed
since we drew tho attention Of the dry goods importers 10
the menacing accumulation Of stocks this point Their
answer then was, Ars asuse secbadiy assurances
thai most OF the goods arriving here consigned
account Of owners in Europe and that in September the
imports would fan OIL The auction sales which are taking
place. and the ruinous prices 81 which many dissertations
of fancy dry goods selling the moral Of tho tale
Country buyers will find it their interest TO come
/ 20 New York to lay in their stocks
It is understood that the Vanderbilt line OF steamers IN
California will carry the mail and after 9th October in
she evennow pretty cerainhat the johnson contract
be fulfilled We again assured by friend Of the
Pacific Mail Company that that has not lost dol
lar since the opposition began If this be true, it good
for the Cafornians as in the event Of the oppo
zion ceasing, the company which succeeds in retaining
the route viii have for increasing the fares.
Dividends have been declared Of four per cent by
the Shoe and Leather Bank payable 10TH and q
four per cent by the Bars Head Bank payable on DO.