The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-27

Inc ,paaepce OF this move in New York before
ering into extended purchases Of bills Nor ms sur
prsnE wbeu IL s remembered that the basis OF 81 nj
lar OF leading buyers operated no
later han Friday lat in sterling At lOa whereas me
may, the business 10 day indicated partial return OF
Confidence. eucieut amount OF cotton Was worked
Ing the cemard general made arrangements 10 ship thus
relieving the market 70 the ZANE extent rs II they
had sofa Exchange went 90 more soey The s sAes
with some at ss1s s0l We we're assured also
looked upon as exec ptiopa Drafts with documentary
evidence might be placed At a97n round amount
Of francs sold al 81 co which puts the quotation
range for all kinds - 81 rs. sale Of sixty days
sight on New York was made at az discount aud an
o.ner ,Sana ana Jun, ~n ne a s ~ .gs,
al discount, which fully u per cent below the mar
ket rate Fifteen days sight was sold to fair extent at
"a discount, and five days at Il discount Sight was
scarce and in demand, with sales outside as nigh a.
Il premium The banks have put up the counter rate TO
for The demand for money continues pressing, but IS
confined altogether 70 bank as outside negotiations can
discounted paper be Part renewed, but the col
lection account which is roG very heavy, admits o. no
such reduction The banks freely applying her In
come towards alleviapg the pressure are deter
mined expand The sudden rise sight funds has
moreover fortified them IN the adoption Of this course Ia
the meantime 1t 10 useless to deny that there come
very sharp corners and they can only be turned by Tree
sales Of cotton The banks must therefore encourage the
movement by liberal purchases o. exchange.
Money matters were quiet yesterday rather than ex
cited The oistrust with regard TO Illinois currency is
gradually giving place TO mere confidence In M intrinsic
worth and hoders inclined 10 submit TO any
sacrifice get rid of H. Most OF merchants are now
taking at par for goods The discounts At the oanks on
all excep, the Bills Of those banks that been thrown
out at Chicago remains At per cent. Currency is be
coming plentiful and the only respect In which the
market now stringent Is the short supply OF excnange
The nominal rate IL per cent premium but the banks
only ceiling OF very urgent ne
cessity Outside parties have 10 pay any rates that the
brokerr choose TO demand.
The Cincinnati Gazette, under date Of Thursday
evening, remarks:-
Bankers commenced drawing early In the day al Z
rrem on New York. bu, theY sold very sparingly, and
CHI not 70 be mad to any extent Ia the afternoon
below / prem There was no demand 10. Baltimore, and
we capnot give . quotation New York checks sod In
that market 10 Gay =, 81 prem Boston Also was gene
| and tod al y Tho market closed unsettled, and we
emit quotations for the preaent q not the Intention
Of the Valley Bank 20 advance rates above p, but win
be compelled to coctract n bus.ness while rates are 30
much higher IN other qraters Gold reiaed In The Of
| ternoon q. per cent prem very little doing In Time
4 bills. an raics are pominIl.
The shoe business is one CT the first branches Of
business to suffer by the money pressure. The
Newburyport Herald says tina. "some m,nufac-
turers are saspending Payment, and more are sus-
pending work. leaving the jours' out of employ
ment. large number are in that condition in this
quarter-men who have not been idle before for
with the goods accommodating on their hands, and
the goods cannot be Sold because the demand is
small and credit suspended"
| The Boston Pos. of saturday says
Bank specie ss so2 AGO. loss OF SITS 500 From what
we cen Gather banks gill quietly dsregard the specie
limitation law, and discount Is much "a they please IN
this view they milton more coin without neon
vcnienoe and az o. course, discount reason
ably. THIS mornings dispatches from New York say
that the New York banks viii draw more coin from
| N uere, cXCcpt
among those who expect to be directly benefited there
b. Bat the feeling IN The stIees and a. the Stock board
n better.
despatch from Philadelphia, dated on satur-
day, notices sigh. exchange on New York at a 3
per cent premium II says
The moaey market here has been made very easy by
The acii1n ruspendng spccc pay oents The al
vantage q discountng hus aiaraed Operating very
previously odeied NJ two per cent month"; was In do
maud, and sod to-day a, three quarters per cent Ths
dcul,y Of sufficient specie for general crcua
,on business s, however, becoming seriously FOL. by
milo classes and gives CAUSE for much complaint
Some o! the nodat.ng tAs demand by
ceemps their 1ve dollar notes. ye. the circulation OF th
balls Of other States though In yolaton Of the law
viii soon be rendered necessary.
The Missouri State Treasurer has issued the fol
lowing notice.
JEFFERSON err, Nov. 81 1890 !
Nrsaor-Rr RAupoAp HpSps.--Notco 10 hereby given "a
al hooers OF Missouri Railroad bonds that the coupons
the semi annual n'eres. 90 sAd bonds VIII be paid %
I
and AFTER the FIRST day OF January next.
A W. MORRISON, state Treasurer
The earnings of the Michigan Central road the
ird week of November were as follows
Third week 1880 y
/ +" loov. .........s.s.. 5000 "
Increase so'So3 "
The Galena and Chicago road earned the third
eek in November
meo Sal %
incre0e .............. s's32 20
The Wisconsin !Saae JoUgfsol furnishes the fol.
iewing statement Of the securities deposited by
banks protec. their circulation. 1t is compiled
From the forthcoming report OF tie Bank Comp
;roller:--
on the let Of October whole amount OF circulating
notes out Gsnding -es a. 6l ora ~hich secured 81
| public sr cks a. pa- value aud spscle, a. follows
Ufcorshl Elk ter cent...... ............ stcc 00t
Hinbesou, eight per cent .................. 1900
California sevcu per 90, Jo
! Georgia 81 per cent. .................,s90 500
Georgia scyen Per csai ................ &,ooo
rllaoir sx Ter cent........, ............. sos g.
lo-sa seven per 1899
indiana tw,, ard q bar Par ssat........ ssoo
r....s.y ). per- ...,...........,.......: g:
Louisiana hvc per cent. ..............sfo0c o
| Louisiana elk per oo2f. .Il550o
nsso1r six per cent .......-'.',.'.s... tos oos
Michigan Elk per cent. 900 100
Eorih oarona siS pr een;......"......... 500 600
OHIO az pfr cent 10 900
Ienseesee ak per cent ................... $50 900
| yhglnl- Ore per Ccpt........,.....,... 600
- IS 600
milwaukee and waterfowl F.Arosd bonir, eight wv
per 70 900
ro,ai...................................sssi5 $50
CSeSc'. lsSfi2g