The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-21


public will be not a little disappointed with the
record Of their fsst DAYS work. Perhaps hey may
do better hereafter.
There ia no relief as yet In the money market.
Some OF the banks-es especially the Bank Of Ameri-
ca, the Bank OF the Republic and others
ed for their customers this morning with unusual
beralisy; and there was, in the street, some little
inquiry for very choice paper al II IS per
cent; but, on the whole, the pressure may be
said to be undated II i. continues
many days longer failures viii Be numsr.
Gus. Several small concerns are reported % day
to be in trouble; some failures also are reported
from Albany. Several Albany bankers arc here
on the subject Of the distress prevailing among tie
interior banks, which have advanced pretty heavily
on produce, and are severely Inconvenience ~
the present dead lock. II is suggested by them
and by their friends that unless the banks discount
more freely the exchange operation viii not be Il
any use. They talk Of an increased dsco1n.
line of ten millions of dollars. So IA. as
we can gather, the general sense q our bank
officers is decidedly ayerse 20 any such cypan'
sion. They 40 not consider that they could
risk i. Whether they can risk the contrary
policy is question which they do not seem to
merchants, il the trading community and TIE banks
in the interior are refused bank facilities q. pre-
sent the city banks will be broken before another
forth sht elapses. It win become they think, 80
|. did in 1857 question whether the banks shall
suspend or al the merchants break; andtha q1es'
ton he bank depositors viii decide 10 their own
way. This is what tho advocates Of expansion
urge; those who take the opp osite view contend
tha. lie banks, with SO, 800 900 Of gold hand,
no foreign drain, DO drain OF any consequence -
the South, and regular supply Of over 81 900 900
from California, can defy the spite OF disappointed
borro vers, and will not suspend in any event. Tie
banks are certainly n a very different position
from the one they occupied in October, lsj7; ii
they have little common sense they ought not 10
allow themselves to be broken. Their own safety,
however, as well as the safety Of merchants,
requires tina re produce which is Eow piled Up
a. every corner betwe here and Chicago should
be got to market, shipped 70 Europe, and turned
into money with little delay as possible. II the
present exchange scheme should prove insufficient
10 achieve this end, other schemes should be
adopted without delay.
The stock market was very tuoyant before me
board this 3raing, and the leading speculative
stocks soil ~ IN advance os FIVE per cent from the
lowest prices Of yesterday. On The call however
the supply Of stocks exceeded the demand, and
things fell Of At the close Of the first board 4
nor spread that the Eank Committee were wasting
tine, anu coyld not agree upon the details Of
their scheme for the purchase OF bills and further
decline ensued. IN tie afternoon stocks were
Quiet, and TIE market closed weak. There WIS
quite rails in State stocks this morning. vrginiis
advanced per cent, Tennessecs Il, and Missouris
q per cent. II seems 10 BE generally understood
that very little will come of the call OF the Illinois
state Auditor upon the banks Of thai State FOR
more security Tor their circulation. Good Western
authority states that the Auditor viii take nothing
By is notion that The banks viii not--cannot, in
fa.t-incresse .heir deposit OF state stocks, aud
that they will not be wound up. Banking in III.
nois is-like foreclosing mortgages in Wisconsin
or collecting debts in TcSas-a very uncertain busi
ness; people who bank, and those who dea with
bankers, have both 10 trust good Dc Il TO rroYi-
dcrce. IN he course Of a few weeks, perhaps,
state stocks viii be up again 70 thcr old figures;
meanwhile, tie Illinois BANKS aill probably Ugh.
the Auditor with Djgnc IONS and stag his proceed
ings. New York Central luctuated actively To- lay.
Before the board this morning j. sold az ~, then
fell back 70 ~, rallied TO 3l, aud finally closed ~
- bid, against "a yesterday evening. The West
err s,ecis were IN wanted ~ en- advance this
morning, bu, were more freely offered as the dap
advanced. Comparing The prices Of this evening
with those Of the close Of business hours yoster-
day, We note an advance OF per cent in MssOuris,
Der cent Ia E.rginias, in Tennessces, ? in IA.
cii.c Nail, IA Erie, ia Michigan Central, in Pa.
mama, ! in Toledo, in Rock Island; and decline
OF / IN Harlem preferred, in Reading, in gaa.
ranteed, and ia Galena Illinois Central md Hui.
sou River we're wthou, change. The United States
fves Of 1874 continue 10 sell al o, which makes
the new loan worth about 90. The following were
The closing quotations Of the dsy;-Unitcd States
ga Of 1874. s. l. Virginia G's, IS s9i; Missouri
G's 6s a g.; Tennessee 6's, 81 ]; Canton, Ia
IL; Cumberland Coal preferred, ]; Pacific Mail,
"a a I; New York Central, q. ]; Eric, 2, y;
Hudson River, 50 a I; Harlem, Isl IA; do. pre-
ferred, ia %; Reading, 32i 32i; Michigan Cen
trail, 81 :; Michigan Southern and Northern In
diana. III !; 10. guaranteed, 81 !; Panama,
100 10; Illinois Central, s.. -; Galcnl aud
Chicago 81 4 I; Cleveland and Toledo, %; chica-
20 ard Eocb Island, 81 7; Chicago, Burlington
AMI palncy. ca j..
The following ! . comparative statement OF tie
exports (cacusiye OF specicl from New York u
foi en ports for the week ani since January l..
ror tho vsss.. ,- 1872 s,s ,.l osos sass,s
Previously reported se,2323s4 81 s2s4s6 sslo o5s
sinee Jan i..... Sbssisso So 2sa,'i: ss,ioi.os
ltw!ll be seen from the above that We dead lock
IN bills dld not interfere with the shipments las,
perhapc lee efactz will Ia aiucasnct ,,1r,