The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-09-21
FINANCIAL AND COMMERC GAL.

THURSDAY, Sept 2o-6 P. NJ.
The money market continues fairly active, with
on. change Of quotations. A relaxation in the
British money market may shortly be expected, Il
the recent favorable harvest news be confirmed;
and, as usual, any increase Of ease there viii re-
vertebrate upon or market here. The receipts Cor
dates continue fair; they amounted today to
.l37 ,00O-the total receipts q. the SAB Treasury
being i2l5 ,3lo the payments sl42 1885, the balance
This evening, IS 81 ISL.
There i nothing doing IN foreign exchange.
The leading bankers are asking 1921 AMI 5l3i
but there seem 70 Be no buyers q. these rates. To
morrow, probably, will witness more activity. The
Saturday steamers may take OFT half a million il
gold.
Stocks we're active to-day and irregular in price.
As d general rule, q. tie morning board, the West
ern shares were lower, being affected by the pre-
yaiiing fears growing ont Of the decline IN bread
..41s, while tho New York shares were generally
Ii better demand. The feature Of the day was .
sudden demand for Erie, which was bid up 10 36l
by leading broker, and closed 90 bid, against -
at the close yesterday Large short sales OF stock
/, have been made within the past week az lower
agl1es and the advance is very costly to the bears.
| II Is, apparently, mere stock movement, without
material basis. New York Central was steady n
the morning n tie best price Of yesterday AFTER.
noon; 10 tie afternoon session q sold a. c. |, and
closed that bid, against ss q: tie close yesterday
| Hudson River advanced this morning, and closed
in The afternoon at bid against 81 yesterday
| ing. Harlem was also ! q better. On the other
1 hand al tie Western shares were this morning
1 a per cen. lower, except Michigan Central,
| which reacted 1 from tho decline Of yesterday;
in the afternoon these stocks were rather better.
| Tie business IN al the railroad shares Il very
large, AMI while prizes decline In some instances
there are no evidences Of dulness, and tie CON.
mission brokers are busy. Spectators in the
Western shares are waiting with some interes. to
| see tie effect Of the decline In breadstues on The
earnings Of the Illinois roads. Railway bonds con-
tinuc active; state stocks are neglected. II he
state Of Missouri intends to pay her interest her
boxds are very low. This afternoon tie market
was quite active, and stocks closed quite irm al
the falowiny qlotati0ns;-virgnia per cents, u /
| a 81; Missouri per cents, 1ot so; Canton Com.
pany. 2I5 al Cumberland Coal Company pre-.
fcrrcd, 1 n III; Pacific Man Steamship Company.
81 q s.; ,cw York Central Railroad S. !: Erie
Railroad. GO a }; Hudson River Railroad. GO /;
Harlem Re ilroad, l9i Il DO preferred. 40 a /;
Reading H. Lroad, IS !. Michigan Central Rail.
n
dana Bairo ad, ~ /; do. guaranteed, AZ A /:
Panama Rai road, l25i 1854; illinois Central
Railroad, s7a 4; Galeua and Chicago Railroad. 7Ss
!; Ccvelan AMI Toledo Railroad III j 4;
Chicago and re OK leland, s9l %.
The improvem emf in the British harvest prospect,
AMI tie coussqu snces Of that improvement. mon
our own fool m arkeis, are matters % TIC very
highest important TO every section Of this coun
= 4 - rnfrsSfr,v a. ......~.....
Gu. The Union. AT the ume Il was supposed the
British wheat crop was failGrC our spectators
had con,ryei 10 sise tie price Of wheat n tits
market 10 81 Is a 81 v for Chicago spring and OF
superdne state -four 10 - Is IS ~ The barrel.
How prepos;erous the V prices were, and how
heavy tax they imposed ppon consumers Tor tie
benefit Of growers and spectators IN Grain, may
be Inferred from the fari that ~ this time las;
year, with crop rot much more than half that q
ls0o, Chicago spring wheat was selling II this
market q, 70 cents. and snpcr6nc State foar at
81 80. In other words though tie sapply isnc srly
double VIA, Il was yea ego. speculation. tased
on the presumed necessit = of Grea, Britain, had,
a week ago raised prices Il riy per cent above Tie
level d September, 1850. Ttic recent panic "a the
Corn Exchange has done some hing " correct THIS
anomaly, although IN all proh.'tility prices have
only Just begun 10 decline e their Natural standard
As compared with the quotations ctrren' ten days
since -four has fallen 70 cents and wheat IL. i5c;
both, however, arc SIN very considerably higher
than they were year ago. though according TO
the memorable law Of supply end demand they
ought TO DO lower. A few moro favorable
reports from England viii probably cnaIle
consumers here to compel stu further conces.
sions from the spectators. Tie grand error
which i always committed by spectators
In grain 4 10 take the British grain market Is he