The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-17
Increase $l60,5C3
Decrease Si5,Z3' 0lo,Iof 40 fof

The decline in the specie reserve appears small when it
ia remembered that over two millions shipped to
Europe Next week the banks will probably show con-
siderable ncrease in this department. The increase Of
icans small it is, is step ia the wrong direction the
banks will undoubtedly, do mischief they let their loans
exceed hundred and thirty milops before the fall
trade opens. Not perhaps considering the large amount
of government securities which they hod-that there
would be any real DANGER but thar the public mind would
be 6t turbed by large apparent expansion Pru-
derce, just now, will yield profit hereafter.
We can at length record advance ia the money mar
ket To day the rate for call loans five per
cent though there very little doing at this figure.
The for paper are also rather higher We quote
first short paper endorsed at per cent, with occa-
sonsl very choice acceptances at 5< first class six
months paper endorsed, at 4 single names as second
class paper, TO- How long the advance will hold,
it is hard to gay Most Of the drawers Europe have
put up their rates 10 llo4 "a e for sterling sixty day
bills and 1lo% z for sight bills but the leading draw
to draw at 1905 for sixty day bills. Francs
sciog at SO HI, before. The forced suspen
o specie payments by the Bank of Austria will natu
rally heck tho demand for specie at Vienna is possible
this may have had something to DO with the policy Of
the spondent Of the Rohschds. the steamer from
BOSTON to will take out specie from hence
probably about $500 900 in bars.
The Stock Exchange opened this morning with heavy
dull feeling ON the speculative stocks New York Central
was done low as TX, on sellers option and the
Western stocks equally depressed Most Of the State
stocks, however, remained firm; and as the day pro-
crossed the demand for railway stocks for delivery
recovery in these also. There rather more outside
business among the commission brokers, though is yet
very small. Men with money are waiting to see what
effect the war will produce the money markets Of the
world the next few days eapse without disturbance
in money market, s likely that the prospect of in
GEeased traffic on the railways will lead more inquiry
FOR railway stocks The movement in Rock Island shows
what will be the consequence Of few purchases for in
vcstment. All the leading railway stocks
Rock leland business Of twenty thousand shares a
day zone on basis OF four five thousand shares 10
we street. There is hardly Western stock which might
Dot DO caused to advance ten To fifteen per cen;
oy purchase OF three to four thousand shares and
'no party winch made the purchase timed L.
50 us 70 make the rise in the stock corrcspon
wnthe increase OF traffic the road the o,ernton wo,,d
p'oVeVery Pronaoe' The grea. which the bear
have Lad s guarantee that they will adhere to the
policy with their usual obsnscy
MsBouris done to day as low as sss< ON yo,,ou
option; the cash price at the close s4 Other s,,
stocks were steady The public must beware of suppos
frg that State stock market here should sympatblz
at the present crisis with the London market for Amer
can stocks London brokers' during tho panic of April o.
sacfnced everything they had American stocks with the
resi- Tor the sake Of providing to meet their en-
g'goments the decline implies loss Of faith these
SECURITIES Holders OF good State stocks may rely
npon is tha. every year the war lasts Will in
Grease the fntrins'c value Of thor property R,il
way boods were rather lower Michigan Southern second
mortgage bones were done low as 5s--prcsty cheap
for bond on wh,h the interes. 10 CERTAIN. Nsw
York Central opened heavy tu, stock being scarce Tor
delivery the price to 70 between the bs,ra. Ara