The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-04-23
NEW YORK HERALD, MONDAY,

There are very few Southern buyers left
| in town. The trade with the North and West is,
however, larger than was expected by many For
the last few weeks the imports have been less than
usual; it is to be presumed, however, that the de-
cline was accidental. With money at per cent
here, and bank expansion of $4,000 900, the
importers are not likely to reduce their orders,
while the manufacturers the other side are pret
ty to ship all their refuse stock to this coun
try, as usual.
The grocers have had quiet week. On Wed.
nesday rally took place in the sugar market, and
a small advance was obtained upon the extremely
low price of the early part of the week; since then
the business has been quite active. The receipts
have been unusually heavy. Coffee is quiet. Teas
are very dull; at late auction nearly half the cata
logue was withdrawn. Wool is lower. The bran
| dy market has relapsed into dulness
The export of specie has been quite moderate,
and the banks should net show much variation to-
morrow from their last published average, which
was s23,626, $751; This time last year they held
$26O6s,l55. On Wednesday the Persia will probably
take out over half million in gold but steamer
will shortly be due from California with something
over million to replace the void; so that, for the
present, no apprehension need be felt with regard
to the bank reserve. The receipts for duties were
very heavy for the first days of last week, but fell
of toward the close Of the week. The Sub-Trea
sury balance does not vary much it stood yester
day evening at 81 53l 4s3 against 4l3,975 at the
close Of the week previous, and s6,sll Ol3 at this
time last year. The government receipts have
held out much better than the most sanguine ven
tured to hope at the time the Post Office Def
cheney bill was passed in Congress.
The bank loans stood last Monday at $l29,9l9-
OILS, against $3.50, 600 7sl the Monday previous and
s07 at this date last year. 1t seems to be
generally expected that they will show an increase
tomorrow. Notwithstanding the emphatic express
sion of opinion elected by the expansion beyond
one hundred and thirty millions fortnight SINCE
the increase Of specie and deposits is understood
to have induced several banks to expand still fur
ther in order not to let their means lie idle; and in
banking circles line Of one hundred and thirty
one millions is shortly expected. If this point be
reached now, when commerce is only Just awaking
from the lethargy of 1859, how much will the
loans amount to, n few years hence, when enter
prise has been reawakened, and the market swarms
with borrowers?
1t is impossible to quote any change in money
though the tone of the market is easier than 1t was
a week ago. The rate for call loans on stock Sc.
curties or negotiable paper is per cent; for first
class short paper 5 for double name, a 6 months
paper, first class, 81 single name, very choice
6 Z; second class paper, a s; names less gene
rally known, 10 IL. The stringency in the
London money market appears to have subsidized,
and no apprehensions are now entertained of its
affecting our market
Foreignsexchange closed yesterday with firmer
feeling than was noticeable week ago, but rates
have not varied much. The asking rate at the
bankers was 100 for 60 day sterling bills and lO9l for
sight bills for francs, 5132 SIS for short sight,
and 5l64 l7 for 60 day bills. Some of the foreign
bankers are shipping specie to Paris against sight
bills; but it is not easy to understand how the ope-
ration can be made profitable. Small as the specie
shipments have been this season, money has been
lost on both silver and gold.
The course Of tho stock market during the past
month has been as follows