The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-09-10

1873 1859 1880
ss s1 ss 4sYess .as sss &;
s,ose su-rry J. s1o,5is COS 4,4702S eo,45o,sis
Exsosrs o. SPECIE -.
For N. ,eeF ss1I 800 2 ssg4s !. si ass $50 $50
.,pcc ganrssyI So l42 $50 son ,2os ss,oa1 sl2
The grain m arszsts have been greatly excited
since our las. weekly review; prices have ad-
vancsd, and tore business has been done, per-
hap. than ever before in this market. The very
latest advices from Europe are shade more favor
able Than tia previous news with regard to the
harvest; still it Is too late in the year for any
general rec owe y Of the wheat plant and II is fear
cd that III injury done to the potato in Ireland is
also past remedy. Under the circumstances ship
-nents of fooC being very freely made from this
side, and for the first time for many years the
shippers are making money. Corn, of course, will
not go forward freely till the winter; when it does
begin to mrve the quantity shipped will be large.
The repeal Of the French customs duty on bread
stufs viii lead TO some considerable shipments to
France; altogether, we presume that export
OF milliea dollars worth of cereal food per week
rom this port may be counted upon for some time.
Happily for consumers, wheat and flour are coming
sorward SO freely from the West that there is very
ntdc aALktl VI htu duhhnCc III tiie PRIV.
The fall trade with the interior has now fairly
begun, and we believe that jobbers rather dis
appointed at the amount Of sales that are making.
The South supplied itself so literally last year
that il has a surplus Of goods Of all kinds and be-
sides, until something further is known OF the ex-
cent OF damage done 10 the cotton and corn crops
BY the drought, jobbers will not be anxious to
grant large credits to Southern dealers. The West
rs very bare Of goods, md the large crops of this
year will enable dealers to replenish their stores;
but, IN the first place, the West owes good deal
Of money still 10 the East; secondly, the crop is
shl unconverted into money and viii hardly be
available for the purchase Of goods for some little
time yet and thirdly, Western merchants seem to
have learned prudence, and are not plunging into
extravaganza in their old fashion. Our trade this
all with tie interior VIII be satisfactory 10 all par.
ties (except. perhaps, some of the iobbors),
provided the impOrtatons Of the remainder
Of this month and tie next are moderate;
ehould they prove excessive, the history of last
tails business viii he repeated, for Il is already
evident that lie country i not going 70 discount
It's means this season.
Il i not likely thar tic bank average Of specie
which viii ~ published tomorrow win show much
variation from the statement Of last Monday. Tie
only export that viii ten against the average was
that Of saturday, lst, which was 1854, 73i; and
against thin tho banks received on Sunday 1884 553
an gold from California. The Sub. Treasury lost
money Lost week, tic balance yesterday standing
n 81 533 $50 against s. COZ 62i at the close Of the
sreyious w.ek aud 81 1888 $50 at the corresponding
date last year. The last specie average Of the banks
~ss 80 035 .sso-a decline Of 81 os3,1ee from the
previous statement. At this time last year the
banks held. AZ ,5G7 AS in CON- Many expect that
derate Increase OF coin win be shown to morrow.
: The condition 81 the foreign exchange market has,
however, dispclled Tie uneasiness which was felt
areek ago with regard 10 the tendency Of the
drain 81 bullion q Europe. The last bank average
OF discounts was sl2g. 027 ,s9o-a decrease Of
81 81, l0T nom the preceding week. At the cor.
responding date last year the bank loans averaged
ais s2i 40. The reduction Of a mlEon and
half In loans IN . single week has exercised
a beneficial eject upon monetary circles.
Tiore confidence 4 felt and less anxiety
Sxpressei shan was the case when the possibility
q bank expansion 70 sl1j 900 600 was contcm.
plated. u j. perhaps 20 be regretted that the
banks should ever place themselves In such stua-
son 70 reader such violent and Sudden changes
eSessary. hat. having committed the error, they
trhaps 90 wei IN repairing Il at the earliest mo.
al At the same time We regret that the banks
a Igii IN their duty II they deny 70 Western Dor.
a. e. tie accommodation tina; may be necessary
~ a. movement Of tho crops. City borrowers
az 40 care IL themselves there will always be
,er. y.elough hess for the legitimate purposes Of
r,ss. aai i better for tic country al large that
norev aacgld be ono or even two per cent dearer
ere n A. hat there should he any hinjrancc 10 the
.o,,,,, Az q grain 70 the seaboagd from the want
! ,..n. v IN this matter INC banks mus, No
t..sh TIC light q common sense rather than
.,,~.scr, Not many years ago one Of tho shrewd.
=. 1000, ~ Ia Tie street used % say that when
$3.50. uk loans reached 600 900 900 II was
-. ~ - stocks. ny adhcring 10 this maxim
= 80. y pney. Tie bank loans have just
- Seoo 1000 ana ne operators who
~ $50. ere p~t very proud of the
...4.,.,, They forget. seemingly. that Tie
,ua time growing in wealth. produc.
80 ", 9ulaHou, and tha, an expansion
- ovc..., We when our exports were slJ0..
=, ~ y ,.e.,,otr bciow the wants Of she comm.
~, ,.,,, ,sss ~, orts sueant to sioo 900. 900.
-, ~, 49, I. 10 QSo,Gbc change in rass.
w quote call loans @ per eent. eSeePs where
the collateral i Cover uneA' or state stoek 10
whish cases mouey cah ~ la ~ 70. snort
o.. class sccePtances 20 Nea 4 me later oslng
,he rule: Q mouths par v a. - 10, aceord
ing 70 quality. The none eroksa arc doing
faf business. but Acre = s'il want q arst class
,sror The trade viii, the INT fri's ! oct active
= was last year, aid there = ie's goa paper
making. Leading authot. ties con Nh'c y Pssd'eta
srt, money market this AT. ivy i-h " slow,
.oweyer. where The demand or mon ~ : v eSSae
roa. snd in the absence Of TN. in'or nenoS' Dor
.o~er. are beginning % reooye cg4*se' us
$3.50 "a