The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-09-27
FINANCIAL ANC COMMERC iAL.
WEDNESDAY, Sept. 26-6 P. N.


made on Saturday. but unless a material change
should be wrought in the foreign exchange mar.
ket, the season Of heavy shipments has ended for
Me year.
There is nothing new in money to report. Banks
and bankers are lending on call at 81 2; few
borrowers are getting money at 6; but this is
The exception; fine short paper goes at 81;
Ae general rate for first class names, over
- days to run, is seven per cent. The recent
intelligence from Europe is calculated to ease the
money market. The Sub Treasury 70. day received
@e6 600 for duties; total receipts, s22s,76o pay
nents s4Ol 1855; balance this evening" IS 223 1856.
The stock market was again greatly excited this
morning and for n time outside orders produced a
further advance, the favorites of the hour being
Harlem, old and preferred, and New York Central.
At the close of the board, however, prices gave
way, and stocks were offered pretty freely at the
decline. The recent advance in Erie, Central and
some other New York shares has been so rapid
that holders naturally tempted TO realize in the
hope Of reaction which is pretty sure to follow so
feverish an advance. rise Of 10 per cent in Erie
. per cent in Central, and q per cent in Harlem
cannot well be maintained without some refuX
even those who are the strongest believers in the
upward tendencies of the market have been quietly
diposng Of their stocks during the past two days,
and the amount of stock the street has beenpro-
portonately increased This is not so much the case
with the Western shares with the New York stocks.
For ten days or so, ever since the break down in
breadstufs, the public have neglected the former
TO speculate in the latter, and Galena and Rock
Island consequently three or four per cent be-
low where they were few days ago. As the re-
action begins in Central and Erie speculation will
probably fasten upon the Western shares again,
and it will be their turn to move The increase In
the earniogs Of these Western roads, though not so
large as it was in August when they were compar.
ing with very lean month in 1859, cannot be con-
sidered unsatisfactory. The Galena earned in the
frst three weeks OF September, over and above ex-
penses and interest, nearly one per cent on the
stock; the Rock Island. In the same period earned
nearly / per cent on its stock. The remain
der Of the month, and the months OF DC.
tcber and November, will probably do
still better. The advance in Harlem to-day
was from 2ll for the old 70 22', and from 50
for the preferred to 532. Central sold mp TO %, but
closed 81 bid, against OH at the close yesterday.
Hudson sold at $50, closing 64a bid, against $50
yesterday. In the Western shares there was less
change. illinois Central sold in the morning at ssl,
closing in the afternoon at s7l bid against sst bid
at the close yesterday; Galena at 7sl bid, against
49, Rock Island at 7s, against so; Toledo at 49,,
against 40. At the close Of the day the market was
weak, the following being the authorized quota
tions:-virginia 6's, sl2 90; Missouri ss, 79i I;
Canton, 81 a 20; Cumberland Coal preferred, l3l
l4A; Pacific Mail, 50 "a; New York Central, 9li
4; Erie, All a 4; Hudson River ca! a !; Harlem,
32i 4; do. preferred, 63i 81; Reading, Asa so;
4. Ng:al.x Cor an1
Northern Indiana, % o /; do. guaranteed, ASH 4;
Panama, l26 l. Illinois Central, s7i a .; Galena
and Chicago, 7si Il Cleveland and Toledo, asa
49, Chicago and Rock Island, 7ss al.
We are informed, on authority upon which we
believe we can rely, that notwithstanding the re-
cent compact between the four trunk roads to the
West, the New York Central and the Erie continue
70 carry freight from Boston through New York to
Western cities at less rates than charged to the
same points from New York. On some articles the
discrimination in favor Of Boston and against New
York is said to amount to much fifteen cents.
Without stopping TO comment upon policy which
actually dscriminates against this city as port OF
entry we may observe that there Is reason to fear
that some, at least, Of the managers Of the two
Southern roads are-sorely against their will
satisfied that the present compact cannot lat. The
Superior skill and activity OF the agents of the New
York roads, added TO the superior location OF
the roads themselves, have this fall secured
for them what the Southern roads consider
On undue proportion Of the Western traffic. Hence
It would not be surprising TO hear at any time that
the Southern lines had dissolved the compact No
thing of the kind has yet been done, and the South
ern Presidents are OF course unwilling 10 give any
Official coun,enance to the ramors regarding their
future intentions. But parties who have means OF
knowing affirm tLat the month Of October viii wit
ness the disruption OF the present cordial under.
standing, and renewal OF the railroad war. II
was hoped that the large business this fall would
BE- enough for all the roads; but II that large
as II IT, some friends Of the Southern lines are not
satisfied It'll their share CT 1t, and think that dc.
monsifation at the present time would prove ulti.
nately profitable. A rupture was barely avoided
ct the late convention at the 81. Nicholas Hotel;
our information leads as 10 fear that Il has only
been postponed.
The City Chamberlain controversy has gone
through another phase. The American Exchange
Bank has ceased 10 represent the Artisans Bank
NJ the Clearing House, and the Park Bank has
taken its place. What the cause of the change
was the public are not informed. The Artisans
Bank states that II was Effected Tor the convent.
ence Of the Chamberlain but the American FIX
change Bank publishes card, In which II states
that "the arrangement was discontinued because
the condition on which Il was 10 undertake the cx.
changes Of the Artisans Bank was not fulfilled to
iu Che American Exchanges) satisfaction At
any rate, the Park Bank win now cash checks Ger.
tilted al the Artisans, and Of course win secure
itself by keeping the city deposits. The Park Is
large Institution In high credit and has always
been managed with skll and prudence. Two or
three years ago Il offered 10 allow four per cent
interest on the city deposits; We do not hear, how
ever, that any such Arrangement has ye, been per.
fcc'cd By Mr.. Plat.
The reports from the cotton r vions during the
past fortnight have been more favorable, and