The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-23
FINANCIAL AND CONNER CIAL.


THURSDAY, NOV. I'D +. NJ
ne seueo Of the banks last evening produced
- ssy . much better feeling in all commercial
sssiar. There was more currency for paper AZ rates
Nsxkus lower than those Of yesterday. Cholee
agssar~s are wanted At 10 II per cent, ana the
SSpy Of money on call ia decidedly increased
nssy capitalists appeared in the street this mora
~ Who aeem 20 ne ready 10 buy paper AZ soon
e tAe s.nefcAi effects OF the acton of the banks
s~c b.youd question. 10 the course OF few days,
n s.thins occurs 20 disturb confidence, we shall
,r.s.hly have = much easier market. On the
osr Exchange too. and IN the foreign bill market,
/, As.lthier tone prevailed. More business was
400. IN brcadstnfis, and the inquiry for bills
b almost active The Bank Committee for
Ssrsts-isg exchange offered l02 for some
sssn TO twenty thousand pounds Of sterl
~ uis morning, but got very little. The
vvsva'e nsnkers are selling some OF their own bills
sss picking up Southern bills at the South and
sssansntary bils here. From the aspect of bust
ss~ 4. looks a. though the machinery of commerce
ga getting 10 WORK again.
rtrre was marked Improvement on the Stock
assA.nge to-day; all descriptions were better,
vsS an active demand, which lasted throughout
- Day. United state 5's OF 1874 advanced one
pr cent, and the amount offered at the price
sail; ytrpnias "a. Missours q Tennessees A..
A his rate the State Auditor of Illinois will not
ssed 10 press his demand upon the banks for more
security. There was active business in all the
railroad shares. New York Central was done at
sue time at 7il decline of from the closing
pase OF yesterday, but rallied, and closed
amer the second board at 76A. Erie advanced 2
per cent and wanted at the advance. The
Waata loue ~ no lint ad.
ssneed aiterward and closed in the afternoon at
marked Improvement. Comparing the prices cur
rant the close OF the second board this afternoon
vah those of last evening, we note advance Of
per cent in Hadson River, l in Harlem, in Read.
hae, 2 in Michigan Central, in guaranteed, in
Panama, q in Illinois Central, I in Galena, in
Toledo, 3 In Rock Island, u in Pacific Mail. The
market closed firm at the following quotations.
DATED States SIS 1874, % ss; Virginia IS, 50 a
A; Missouri 5's, n 1; rennessees, so3 sig; Can
he. lag Is: Cumberland Coal preferred, 81 q 10;
Pacific Nail, ~ a 4; New York Central, 763 I;
nre, 500 y 4; Hudson River, 4s4 l; Harlem, $50
81 10. preferred. IS 81; Reading, 36i 81; Michi
IS Central. 81 So; Michigan Southern and
Esrth srn Indiana, l,s a Is; do. guaranteed, 32l q
81; Panama, ll3 /; Illinois Central, 57i 81;
0slena aad Chicago, ca . 65; Cleveland and To
brso, 20 o I; Chicago and Rock Island, 55A q Sc;
Aicaso, Burlington and Quincy, III 3 "a.
The Philadelphia and Washington %. CO. banks
nspended specie payments this morning. This
Vas caused by the bank suspension at Baltimore,
10 which city these banks were debtors. On Mon
day last the Philadelphia banks showed specie
of 81 lis 1872 loans amounting 20 26,775,-
SIS circulation Of 81 79l 752, and deposits equal
- So, s33 ,l2l. Assuming that their bills re-
seivable are ordinarily good, the banks are per-
betty solvent. The question is asked in some
quarters what effect will these bank suspensions
have upon us in New York? If we owed money TO
Philadelphia the specie would be drawn from Us in
payment, and Tins the suspension might injure rs.
But az We do not owe money 10 Philadelphia or
Baltimore, but, on the contrary, are creditors of
those cities 1t Is not easy to perceive that the
bank suspension in those cities is going TO
hjnre Us in any way. II il probable that,
Aner a time, the Philadelphia banks viii
sssd their specie here. There will be no demand
Ssr IL a. home, while here IL will always ho useful
h 1867 specie always flowed from the banks which
had sus pended to The banks which had not Had
there been no foreign drain at that time all the
ssecie In the country would have accumulated at
New York, and our banks might, perhaps, have
D~tn hblt 70 tApAlls hhu 50 save lltll7ttNtS.
This was the last day for payments on account
Of The first half Of the ten million loan awarded on
nd October aud about three-qusrters Of million
In gold were received on account OF the Office of |
IN Sub Treasurer Ia this city. As some OF |
the successful bidders may have RENTED |
treasury notes direct 10 Washington in pay |
n-nt Of their awards. ii is impossi |
bic 10 say positively that any bidder |
has defaultsd II Is understood. however, that at
least one New York bidder refuses to pay, and |
pleads a. bis excuse that the Union Is already dis.
solved. OF course Mr.. Cobb will make short work
with him. The stock awarded TO him will be sold
by the government broker. and he will be held for
We difference between the price at which II sells
and the price at which II was awarded to him.
he transaction cannot cost the government q
great deal Of money in any event, unless, indeed,
Me party who now refuses to pay up should be
bund when sued 10 be not worth powder and shot
The business Of the Sub Treasury today was M
ALLOWS
-sor customs ssovO %
rsyuene.. 20 b2s o.
soSo,so0 ~
In view OF the approaching meeting OF the
Southern dsunonist conventions, IL il worth While |
10 lock into the statistics OF the States which pro.
pore 20 separate from the Union. Five States are
said by the South Carolina leaders to be ready for
secession-t to wit South Carolina, Georgia. Flori.
Ia, Alabama and Mississippi. No one has claimed |
North Carolina or Louisiana. or Texas. or Arkan. |