The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-02-14


Decrease. .s16586a ise,7s4 80 l,lOe'sas
Increase. Si''o"'
This is much more creditable statement than
the last II the public could be convinced that the
banks were really inclined to administer their
business on conservative basis, confidence would
revive much more quickly than it is doing. The
loans now stand about 500 900 above where they
stood fortnight ago, and $4bo0O00 below whore
they TODD this time last year. The specie has not
varied much latterly; at this time last year, the
banks held about $2700oOOo. The real amount
held by the banks to-day is probably about
$40 200 O00 "a the last California remittance az
rived 80 late that il only counted once in the ar
rsanges. The specie gain by the banks VIXEN the
Post Office Appropriation bill passes will DO unpre
sedented, and may lead to dangerous conse-
quences. We recommend bank stockholders to
watch the course Of the banks at the present time.
There was rather more paper Offering at the dis
count houses to- day, and full rates were obtained
by lenders. Some of the importers are probably
avaiing themselves Of the low price Of exchange
- make their remittances, especially the delays
which impede the passage of the Post Once APP
preparation bill render the future Of the money
market uncertain. On call the supply Of money at
nix per cent is ample, and, in the absence Of any
speculative movement in stocks, is likely to remain
90 The old established houses are still receiving
money from their customers at five per cent.
Foreign exchange opens lower than last week,
Aone of the leading bankers being willing to draw
Ut lOsi for sterling bills. Francs are held at 5lsl
. $40. The brokers are generally disappointed at
ths dulness of exchange. This time last year
thers was an active competition for bills at
rates which permitted shipments Of specie to
cover; now, though the imports are as large as
they were last year, no one seems to want ex.
change. This condition Of things is only tempo
rary; We shall in . few weeks see exchange high
enough to satisfy the drawers. But the dulness Of
trade with the interior operates against the i'm.
pSrters.
The commission brokers report an increase OF or.
ders for State stocks, sound bonds, with an occa-
sional inquiry for some of the more popular rail.
road stocks; but the outside business is not yet
heavy enough to enable prices to resist the efforts
Of the bear jobbers at the board. To-day Mssouris
were sold short with great freedom by prominent
operator, who hammered the price to 80; the
closing bid for cash being so. Apprehensions
are felt lest fresh supply of these bonds should
be suddenly thrown on market by the failure Of
Western banks whose issues are secured by depo.
sits of Missouris. Nothing has occurred, thus far
to justify any immediate uneasiness on this score
Central was freely offered time on the strength
Of renewed assurances that the Pro Rata bill viii
pass; the closing bid 70s against II bid Satur
day. We presume that the prospects of the bill
are no better than they were. Galena was sold
down to 81 closing 574 bid, against 67a at the close
on Saturday; the sales are predcated on the con-
tinued decline in the earnings of the road Pacific
Hail was lower in the morning. but rallied in the
afternoon, closing at an advance of 1t per cent
With the exception Of this stock, Hudson River,
and State and bank shares and good bonds, the
whole list was rather lower. In the afternoon the
market was quiet and stocks closed steady at the
following quotations Virginia per cent, 90
sal; Missouri per cent, so /; Canton Company,
162 II; Cumberland Coal Company preferred, l5l
. le; Pacific Mail Steamship Company, 81 a 80;
New York Central Railroad, 7OE Q III; Erie Rail
read, 81 a 8; Hudson River Railroad, 400 !; Har-
lem Railroad, 9 l; do preferred, SO "a; Reading
Railroad, 500 40; Michigan Central Railroad, 37t
. Z; Michigan Southern and Northern Indiana Rail-
road, 81 a 4; do. do. guaranteed, 142 !; Panama
Railroad, 1872 Il Illinois Central Railroad, 564 I;
Galena and Chicago Railroad. 574 Q 1; Cleveland
and Toledo Railroad, l92 a &; Chicago and Rock
Island Railroad, 623a5.
The business of the SubTreasury to-day was as
follows
TOTAL receipts. ..................... s2Os 6S g