The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-11-24
PRICES AND SALES OF STOCKS IN NEW YORK
II
No quotations received for Second Board.

The New York Tribune of this morning SAYS:
There moderately active Stock market this morn
ing, with general tendency to Improvement which
not however, fully sustained at the close The bold ac
ton of the banks last night which practically was sus
pension OF specie payments it was supposed would ope
rate IN the same manner as the actual suspension in 1857
and this impression brought in buyers from the outside
as well as from the ranks of the shorts The bears
not very active and the commission houses had larger
amount of orders than of late The rumors of bank sus
pensions at the South and the tone the Southern po
cal advces not very reassurng and checked the
upward movement; but the day advanced and these
bank suspensions it found, had no real influence
here upon financial matters, their effect was lost and
the market again assumed its buoyancy and between the
Boards was well sustained. At the Second Board the
business was much larger than and higher prices
were in almost every established The desire buy
very marked and there moderate resistance
made to the rise. Some Of the chronic bears however
still predict disaster, and sell moderately The street
must be very short borrowed and short sellers
options while the amount of cash been largely
reduced by the cash buyers of the last DAYS The
bears have been recently selling quite reckessy on short
options regular without the stock in hand
to the slaughter of some real holder supply of
to meet their contracts turn of the market which
would force these bears to buy in their shorts would
terally accelerate the upward reaction.
The over supply of foreign bills prevents any improve
ment in rates. but there fair business doing and
duce bills find that market which they lacked few days
ago Very good sterling have been sold TODAY at
dOoGlqz s " per per cent Bankers ask 1OS@lo5 but line
could be sold above lOS and almost any signature could
be he'd at that. Francs S5 SOFAS 40 without much
currency The growing in money will undoubtedly
bring remitters more freely into the EXCHANGE
and bring about greater activity but general impres
sion is that there is actual superabundance of bills he
yond the demands # importers and that the rate will
not at present materially advance In this case we see
nothing to prevent considerable importation of gold
from Europe and large advance in the rate of Interest
at the Bank of England.
The feeling in the money market more cheerful to-
day. although the relief is recent to have any very
marked effect Demand loans were easy at per cent
but in the discount houses the not show
much increase Of activity The rates of paper are
nomnay easier for the seller but the transactions show
ttle or no change on the best grades The range is lea
10 percent, with exceptional sales SlO per cent II
is anticipated that rates will be considerably ameorated
next week.
The Philadelphia Inquirer of to-day says:
The Stock market has been eversh and excited TO-DAY
owing Principally to the conflicting opinions entertained
as to the ultimate effect of the suspension of our banks
Pr1ces however, were generally more steady and in
speculative shares, although there was but little doing
the tendency was to Improvement especially at the
close of the day. ~ "
The suspension of the banks has created decidedly
better 1eelng IN the money market and rates. though
nominay about the yesterday are rather look
ing downwards, and among the note brokers there wa
considerably more inquiry for first class names The i'm
mediate ehect OF the suspension here will undoubtedly
De 10 relleVe the mercantile community and throu
them to extend better feeling throughout the yario1
branches trade but whatever the ultimate
II is matter OF real pleasure to unanimty
purpose and harmony OF action in their jealous efforts
grant facilities and restore confidence
An important decision has been lately rendered nv th
Supreme Court of Illinois, that note PAYABLE with ey
change is not negotiable 1t merely contract in wr
ting to pay an uncertain of money and must be
clared on and proved such 1t not promise to ma
a certain which is a requisite of promissorv note
By the Illinois law, contracts which negotiable
and none are negotiable except by endorsement whethe
drawn to order to bearer, to person named-mus
be sued upon in the of the original payee and ar
subject to all the deences which be made between tn
original parties This decision viii include bills of ex
change.