The New York herald., 1860-12-07


postpone their remittsnces for the present. A
small business : doing at Motae ana New Orleans
in sterling at &c 100. couple of failures are re-
ported-one grocer in South street, the o.hx
house in the Swamp; neither of them heavy con-
Germs, though both were considered sound before
the present crisis.
Stocks continue 10 decline on the strength Of the
dishsartening reports from Washington. There is a
retail inquiry for stocks from parties in the country
who have money, and who seek 70 avail themselves
Of the present accidental depression ; but the
amount bought from day 10 day does not equal the
forced sales OF stock and the offerings of the
bears, and thus prices steadily decline. II is note
worthy, however, that the commission brokers ge-
neraly agree that al the first sign of daylight their
customers are prepared to buy on speculation.
Comparing the prices of this evening with those Of
last evening. we note q decline of 10 United
States SIS, of in virginias, Of IN Mssouris, of A
ID Ternessees, of in New York Central, In Erie,
q il Hudson River, u in Reading, 81 in Panama,
in Illinois Central, Il in Galena, II in Rock
Island. The market closed heavy OF the fol-
loving quotations. United States SIS, 1874, 93 Vr
pinia S. ~ 76; Missouri G's, 65l I; fennessces
90 q 4; Canton, Ia Cumberland Coal preferred, q
q 10; Pacific Mail, 7e9 "; New York Central, 7Ol
II; Erie, IS !; Hudson River, 81 a 1; Harlem,
l2l l3; do. preferred, 20 a 80; Reading, 81 4;
Michigan Central, ~ l; Michigan Southern and
Northern Indiana l21 a {; do. guaranteed 25 a
{; Panama. los 10; Illinois Central, 52l 80;
Galena and Chicago, 5ss a 80; Cleveland and Tole-
do, 2Ol . Z; Chicago and Rock Islani, Ash d Chi
cago, Burlington and Quincy, go a 6s.
One Of the most foolish incidents Of the present
a,.i. ah haa m ha
tween the Chemical Bank and the other banks of
this city, When the recent arrangement was en-
tered into by the banks for the purpose of saving
the merchants by a general expansion, all the
banks agreed to place their specie in one common
fund. To this agreement the Chemical refused to
accede. II was unusually strong in specie, and
had peculiar class of depositors men OF wealth,
who require no discounts, and who nse i merclya as
a safe depository for their means. Under the cir
cuust nces, the managers Of the Chemical Bank
decided tha, their duty 70 their depositors was su
peror to their duty to the mercantile public; and
as they have never claimed that their bank was
bank for merchants, it cannot be questioned but
they wsre right. The associated banks, how
ever, deeming themselves aggrieved ny the
refusal Of The Chemical to put It's specie
into the common fund, expelled Il from
the Clearing House by set OF resolutions
which we have published. In this proceeding the
associated banks allowed their temper TO get the
better of their reason The action of the Chemical
Bank mcy have been very annoying to them; Dut
It proves quite satisfactory 10 the depcslors 10 that
institu or, and any controversy which may grow
out Of 1t will rather have tendency TO increase
than TO diminish the rumber Of depositors in bank
which openly declares that the interests Of those de-
positors is rs first concern. These not times for
qnarrels among banks, or vransiings about bank
policy The safety Of all the banks hangs thread.
II civil wlr should break out-and many wise men
deem II ineyiiablc--who shall say what will be
conc Of the banks In this city Certainly, in that
event, that bank will not be the least safe which
has kept is specie, preserved itself strong, and
taken care Of its dcpositors at all hazards II
the times do not brighten, these views may
begin 70 be adopted by depositors in the associated
banks, with what result we need not point out
The wisest course. under the circumstances, would
be for tic associated banks TO lose no time in re-
scinding the foolish resolutions they have passed
with regard 10 the Chemical Bank, and thus re-
move a very pregnant cause Of uneasiness in the
public mind.
The business Of tie suo-Tieasury to-day as
follows
Receipts. ...,......s.... sbtps0 70
-For cusiorr. ........................ - eco 00
Payments ACKNOWLEDGEMENTS. ..,..t.. soI2S ~
bsance o,tet SVs II
Tie Commissioners Of the sinking fund Of the
s-s-f Ohio deem il for the interest Of the State 70
withdraw that portion OF their advertisement inyit-
ing proposals for fAtwenty year 'oan.
The other two propositions remain as advertised,
and bids for tile came wiz be received until noon
Of the 18th inst.
The transfer books for Ohio State stock will be
closed from the 18th inst unti the 18th Of January.
At Chicago, on Monday, the buying price Of ex.
charge continued at q "a, and the selling at
per cent
The Cincinnati GdSette of Tuesday says
further decline was estsbi..hod 70 New York
change. The market opened ~ = prcc, um buying and
= semg but balances iECfess'lg, the bgyi7g
skie dropped in ihe at"rnoon 20 "a X, leaving OF
n rrcrrum improbable Inc offerings - produce
~tcrrs gcra ana ,oe fccpls 10 tHc tgFrcr ito
i1 exce o DC demsnd The market having bec1me set
TIED, regular Quotations for "a n cheek,
ans coD:-
gsyiae. ssats0.
session. ....,..,....,.-. = pttm = P1en
tmladeirtls. ....-....,.A4 os 80 ~ r-sn.
Bsffmors. .s.tt...t.t.t aus f-r
NeN Oflcsr.........s... par i prem.
Arsricsn rold........, y prev. '.ei prem.
The Cincinnati Gagci.c of Tuesday saysi--
mo agcrt, Of the Grand Trr1s Railway 10 ihs csy
haze t1at rortfauf