The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-24
FINANCIAL AND CONNER GAL.
FR1nAY.. Nov. q3-6p. NJ

FRIDAY, Nov. 23-6 Pm.
The offerings at bank this morning were very
large, and the discounts unusually liberal The
Bank Of Commerce discounted a million OF paper
and two OF three other banks from three to five
hundred thousand dollars each. This prompt eN'
eeution of the resolve of last Wednesday has had
marvellous effect on mems minds; cheeri'lness ana
hone are now the order the day. the discount
houses the inquiry for paper Is increAshs' VIC
note sales Of first class at ten per cent, and larger
audience at the principal brokers oliceS' Ii Tue
.onr,e Of day or two Il nothing happens 10 check
,ne recovery of confidence, we shall probably have
rates down 10 the old figures. All parties seem to
,rree ,bat the suspension Of the Philadelphia
and Baltimore banks viii rather benefit than
nipre us. and that their specie will now
eome here The hope is that the
New Orleans banks viii be able to
stand tie pressure, and that they and our own
banks will not need 10 suspend. II this can be
achieved the suspension of the other banks will
not be fatal to business. To-day the New Orleans
quotation Of sight exchange on New York is one
per cent premium, which will send specie North;
but this advance in Northern bills is an an omaly,
and will cease as soon as purchases of cotton for
Northern account begin TO be renewed. In the
course Of day or two, if things continue TO mend
the agents Of Northern houses viii begin to buy
cotton again at the South, and exchange win fall
BY their last statement the New Orleans banks
held over $40 600 900 Of specie; this may, perhaps,
be swelled to twelve or thirteen millions by New
Year. This is the only loss which our banks are
likely to be called upon TO endure. Two failures
are reported to.day-Messrs. j. f. Wylie
y Co. of Water and Front streets, gro
GERS, and Messrs. Samuel Harris IL Sons,
OF Baltimore. The latter is not believed to be
very heavy affair. Messrs. Wylie owe about
$3.50 COO; they have large amount Of merchandise
and other assets, and very few preferential debts.
We understand that they were offered money to 60
on, but declined to incur debt which might di-
miush the common fund out of which their general
creditors must be paid.
Sterling exchange continues dull. Bankers ask
from lO3 to l05; the market is supplied at the lower
figure. Documentary bills are worth about 100 for
sterling and 5.45 $50 for francs. The smallness
Of the demand from the importers astonishes
drawers. 1t will be found. We apprehend, that the
slack demand for bills arises at least as much from
the heavy shipments and light imports this year a.
nom any want Of money among importers.
The stock market opened with some strength,
then fell off, was better after the first board higher
In the afternoon, and closed with an upward ZEN.
dency United States and States stocks were gene
rally steady; Tennessees advanced per cent. In
railroad bonds there fair business, al slightly
better prices. The demand for money having
fallen off, the better class Of securities are not
pressed for sale as they were when it was inpos.
sible to borrow at any price. All the railroad
stocks were in better demand. Comparing the
closing prices of the day with those Of yesterday
we note an advance Of per cent in Pacific Mail,
I in New York Central, in Erie, in Hudson
River, Al in Michigan Central, in guaranteed,
in Panama, In Illinois Central, 2! in Gaena,
IN Toledo, l in Rock Island, l in Chicago,
Burlington and Quincy. The idea appears to prevail
On the Stock Exchange that we have seen the last of
the panic and the panic prices. The folio wing were
she closing prices Of the day:yirginia 6's 50 /;
Missouri 6's, T0i II; Canton Company, IA a Is;
Cumberland Coal, 0 10; Pacific Mail, so sol;
New York Central, III a !; Erie, 81 q l; Hudson
River, AZ a 4; Harlem, l5l !; DO. preferred, S54
4; Reading, ~ /; Michigan Central, 55l Z;
Michigan Southern and Northern Indiana Isl l6;
do. guaranteed, 49,! 3il Panama, ll6 III; Hi.
nois Central, so! GO; Galena and Chicago, 66s
a 67; Cleveland and Toledo, 2ss 80; Chicago and
Rock Inland, 5Gi a /; Chicago, Burlington aud
Quincy, T2l 4; Illinois Central rs, 81 a ].
The business Of the suh-TEossasy 20 aay wNs as
solows:--
Receipts slSS lb5
--gor customs oVVVV
Payments sso9st
Balance 4Eolos
The exchanges at the Bank Clearing House this
morning were s2l ,06l .5l2 20, and the balances
81 ,533 SEQ IL.
The following quotations Of sight exchange on
Nov York AT the cities named will show how the
bank suspensions affect tic internal exchanges
B.,mere ......................... per cert prem
Philadelphia. .....-......,...'..... $40
BE ton ..*.r..s..s.s.ss. -
New OH ans. ........s.st..ss..s.ss
Mobile ......ssss ss."sss.
The following are the rates for currencyto-day:-
New York and New Eng Hand ............. y discount
tAVt view Jersey "
West Jersey and Philadelphia. do
Interior Ptnuty lvAaia and rylArd al0io
OHIO, Indiana ard Kentucky .......... do
Canada. ....s.s.... ......s....s...s.
Illinois, wlfoo1en, Iowa, Missouri. ....... 10 do
koFtn Carolina Georgia. A RaHua 10 do