The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-12

FINANCIAL AND CONNER GAL

SUNDAY, Nov. IL, 1850.
The week ending yesterday witnessed pretty
general curtailment of business in consequence Of
the prevailing political anxietes. Tie Custom
House figures. which we subjoin, do not convey
an idea Of the movement that Is proceeding among
merchants. Every one seems impressed with the
idea that, whatever comes Of the present Southern
imbroglio, business Is ireparaby injured, and The
prospects OF the spring trade, which were 50 bril-.
liant month ago, ere very gloomy indeed. No
merchant ofprudence will order large consignments
Of spring goods under present crcumstances;t will
be wei, indeed, II the houses engaged IN the South
ern trade can weather the storm as II is. Not a
few Southern houses WIN act upon the suggest On
Of the South Carolina Legislature, and take tits
opportunity Of repudaing their debts.
The following are the tables Of the trade Of the
port for tie week and since January IL
IsPosrs
ny goods. -. 400 ee as 50, i,a!ss7a
GenTmerchardre asieeis lsss,opO s,os5,S3
TO;Alfor the week % oi7sis 24ss,ess 4as. SOS
Previous yrerOrd 2oa SCI 2t2siSooS lssoos, so
SAGE saus,ry lsiss Ia si 20.ss7 O5s 20 sss DOL
srFoSrs o. PRopuor xrHAspss
ror the week $50 SO lss s' $40 rs 49, .ss
irevi'ps! reported = vsofe zoos OtT y oI5 AZ
Since January as ,s7o,2i0 ss,a28.sle l4ss, io1
ExrosTs sFrcE
1855 1859 1850
Prenoasy reported q e74 COS o. sosse2 AZ ST. rs
since J.pc.ry 81 .ss8,5is 6 SIS .2sS SONAR
Tie banks will probably show a loss Of specie
tomorrow, as their depositors have been sending
money freely 10 the South. Their last statement
showed an average specie line Of sa2 ,lai ,osi-a
decrease Of 1908 COS from the week previous; at
the corresponding date last year they held $40 22s
81 in coin. In view Of the heavy shipments OF
produce, and Of tho condition OF the foreign ex.
change market, our banks can afford, without risk
or Inconvenience, 70 allow their specie line TO run
down 10 ils, 100000, between this and New Year
We usually send three q four millions every De-
cembcr 70 the South, which comes back to Us in
the course u the early spring months the uneasy
condition Of Affairs down Soa:hrenders II peculiarly
desirable that our remittances 81 present should be
prompt and liberal. The public need be under no
apprehensions ss 70 The South drawing our specie
from ~. The debt OF the South TO the North q
probably never less than ten tines he amount or
gold which We arc lilely = send to New Orleans.
The Sub. Treasury continues to gain money; the
j
O. $50 as AZ tie close q last week, and A sos.
es7 II he corresponding date last year. The ban,
discounts will probably show q ourtailment 70.
morrow. The last average was sl25, 2sl,js., an
increase Of 81 ,sTi ,05s from the week previous At
The corresponding date last year tbs banks had
loaned sl20,lls,Os7. Tie withdrawal OF deposits.
IN consequence q the shipments Of gold % the
South, v IL probably Lave admonislci Inc banks
70 stop re expansion which began fortnight since.
The uneas,ness In financial AMI commercial
circles, consequent upon the political sgtations az
tie South, has At last aiis cted the money market,
and we note marked advance in rates since last
week. Call loans on good stocks, with wide mar.
Gin, are still offered at seven per cent. Bat very
little paper, indeed, could have been passed yes
terdsy a. that rate. We quote at present the best
short paper per cent, and first class l months,
endorsed, a 10 per cent. Names no. generally
known 20 a. al kinds Of rates. per cent 4 month
being fan AVERAGE for good names. The advance
n rates is due, no. 70 any increase n TIE demand,
or Elimination In tie actual supply, bat 10 feeling
Of panic, which induces lenders . withdraw heir
fands nom The market. should the presen. IN.
easiness subsde, money would rapidly fall price,
and tie market would resume IT, wonsel aspect OF
case.
We have 70 report further decline IN foreign
exchanges. The asking rate AZ the leading bark.
ing housoe . los for serlirg ani slsl 20 FOR
ffan.s D.; TIE hes. bills ,an Be had a. 1919, ard
some irss class bis, drawn - oas OF tho leading
banking houses, we're sd YESTERDAY AM Jay be.
fore ~ l07. Ner-ertls Ills have soii 4. unus1sl.
~ low rsfes-lo5 and upward. Holders 81 Sills
Drawn or endorsed by the Chsrlss.on banks have
experienced great iHEcuisy u iisposing Of them.
no hlrs- + South cn-olra 80 ~ rc-e ~ lea