The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-31
FINANCIAL. AND COMMERCIAL.


THURSDAY, August go z. NJ.
The money market continues active; many Of
the bankers are getting ] per cent for their de-
mand loans, while quite a number Of leading
brokers are borrowing at 8. Money lenders,
week ago, entertained the hope that call loans
would rise high enough TO enable them to make q
profit by melting their acceptances at bank, and
loaEing the proceeds to the brokers; but there
seems little prospect Of this at present. At Cal
the brokers are borrowing as much as they want
and, unless some unforeseen &C ,dent should occur
there seems TO be no reason for expecting any
fui Their advance at present. The banks are not
lending much on call, but their depostors are, and
III is comes 10 the same thing. In the course OF
fortnight the probability is that the public will
have become accustomed TO the present rates, and
that She panicky feeling which exists just now viii
In We subsidized. Sood 4 months paper is still
wanted by The discount brokers at per cent
according 20 quality.
There is nothing doing in foreign exchange to-
day, as usual on Thursdays. From the appear
snce of the market, it looks as though the recent
advance in sterling would hardly be maintained
to morrow. The shipment OF specie on Saturday
does not now promise to be as large az usual.
The bears continue to exercise control Of the
stock market, and we have to report farther dc.
cline since yesterday. There is at present no ser
Gus opposition to the downward movement in
stocks; buyers appear to be holding of, in the ex
pectation of a lower market. No one can tell +,
however, when the turn-whch all admit to be in
eyitable before Iong-may come. New York Cen
trail opened at s4-the price after the board yester
day--iell to $50 at the end of TIE first board, and
closed at $50 bid. The Western shares were all
lower. Al the morning board, comparing the
prices with those of yesterday afternoon, Rock
Island fell IA; Toledo, 1; GaIena, !; Illinois
Central, !; guaranteed, II; Michigan Cen
trail, 2. In the afternoon these stocks were
generally lower. Private letters from London
allude TO the speculation in Illinois Central, and
say that the belief in the value Of the property is
quite likely to carry prices to Is discount before
many days. Hudson River declined halt per cent
this morning, closing 661 bid, against 81 at the
close yesterday. There is very little doing in Pa
mama OF Pacific Mail, and prices do not vary per-
ceptibly from day to day. The panic about the
opposition line has pretty we'll subsided; it was ri
dculous. Mr. Roberts steamers are not likely to
make much difference to the business Of the Pacific
Mail, wherever they may be- atthe present time the
travel not large enough to tempt any one 10 divide
it, State stocks and bonds all rather lower this
morning, being probably sold ont in conse-
quence of the turn in the money market.
This afternoon the market was lower, and closed
unsettled at the following quotations. -United
States IS 1874 1929 l03; Indiana State, 9os a
90; Virginia State 6s, 9ol oo}; Tennessee State
G's, 901 90l Missouri State 6's, 81 sli; Canton,
1913; Cumberland Coal preferred, lla 10; Pacific
Mail IS 10; New York Central, $50 $50; Erie,
p 27j; Hudson River, 56a 56l; Harlem, Ia q
III; do. preferred, i4l As; Reading, Az 45l;
Michigan Central 6ss a 6sl; Michigan Southern
and Northern Indiana, 19I 20; do. guaranteed,
IS 43I; Panama, l24 l26; Illinois Central, s53
$50; Galena and Chicago, 77A IA; Cleveland and
Toledo, 45l Asa; Chicago and Rock Island, 7ei
,9,; Chicago, Burlington and Quincy, IS ssh ILL.,
nois Central bonds, 96i eG3.
The following is to- sbusiness at the Assistant