The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-20
FINANCIAL AND CONNER GAL

FRIDAY, Oct. l9-6P M.
We are requested 10 remind the public that the
deposits on account Of bids for the ten million
government loan, 70 be awarded at Washington on
Monday next, must be made with the Sub Treasu-
rer before four =. ii. tomorrow. From the price
al which the fyes Of 1874 are now selling in the
market, The presumption appears 70 be that the
new award will probably average one per cent
premium.
The money market works more easily. The
standard rate today for short first class paper Is
6per cent; longer paper same grade, 8 q 7; names
less generally known, 10 q u. The brokers
are abundanuy supplied at 81 per cent. The
tendencies in favor Of increased ease in the money
market become more obvious from day to day.
The foreign exchange market continues 10 droop.
We quote to-day, sterling bills, bankers at 1885
Z, and francs, 515t l6l III. As usual on a
falling market, there is considerable diversity in
rates and parties who insist on having certain ia
vorits bills may be obliged to pay considerably
more than the market price. The steamers of to.
morrow viii probably take out $500 900 to 81 ,00o,-
600 in specie.
The stock market was more active this morning,
but prices were lower, and at one time there was
every appearance Of panic. Between the boards,
however, the decline brought in purchasers; some Of
the shorts wisely began TO cover, and the market
rallied in consequence. The condition Of stocks is
very simple. The public are standing OIL in order
to see whether political affairs are going TO have
any effect on the market. Thus deprived Of their
natural allies, the bulls have lost courage, and do
not resist the attacks Of the bears with their usual
vigor.' New York Central and Ere were hammered
mi m m : ha hart 10.
they rallied in the afternoon TO s7A and 3s{, and
closed respectively s7i and 37l bid. All the
Western shares were depressed. Galena sold
down to 75l, and closed 75, bid; Rock Island
to H. closing that bid Illinois Central to ST. clos
ing sll bid; Toledo to 4sa, closing 43l bid. 1t
seems TO be generally expected that the market
will remain duh and uninteresting till after the
election; though, in the stock market, whenever a
certain time IS fixed by general consent for a
marked change, one way or the other the
change generally comes sooner than is antici.
pated. Pacific Mail fell back to 90, with
cash sales of few hundred shares. II the share.
holders make q bad selection Of directors at the
coming election nothing can render the property
safe to hold. There are enough good and honest
men in the company TO constitute an unexcepuona.
BILE board, IL the shareholders only have the nerve
and sense to look after their own business. There
very little done in State stock. and bonds to-day
and the market dull. This afternoon stocks were
tolerably active, but closed dull at the following
quotations. Virginia 8's, e0t 81; Missouri 6's 7si
a 4; Canton Company Is l9i; Cumberland Coal
preferred, ia l3A; Pacific Mail, 90 1; New York
Central, s7ia !; Erie, 37ia I; Hudson River, 90 at
Harlem, 20 1; do. preferred, l6i a az; Reading,
46 a 4; Michigan Central, &c a 4; Michigan South.
ern and Northern Indiana, l9l a I; do. guaran.
teed, 45l a l; Panama, l2ii 1885, Illinois Central,
sli 50; Galena and Chicago, 80 a !; Cleveland
and Toledo, 43i a; Chicago and Rock Island,
hat.
The business Of the sub.Treasury to-day was As
/ follows