The New York herald., 1860-09-18

MED by any distress in the money market or any
refusal Of aid TO merchants, must be hailed as a
satisfactory event. The greater the curtailments
at present. so long the banks can curtail without
destroying the value OF the paper they hold, the
stronger they viii be hereafter, and the better able
to afford facilities TO the Southern banks in the
winter, and the Western banks and our own job
bers next spring. The reduction In the specie col
umn Is less than was anticipated. Gold is begin
ming to come North from the South at New Or
leans some of the banks are asking premium for
sight bills on New York. very small further
advance viii induce free shipments of gold.
The money market is without change, and fairly
active. The supply Of mercantile paper on the
street, though not large as sometimes occurs is
sufficient to keep the brokers busy. Some very
choice paper passes at g. but the general rate for
first class is seven. Names less generally known
go at q 10 II. The advices of an Improvement
in the crop prospect in Europe are calculated TO
anecs the money markets OF the world in benef-
cial manner. The business at the Sub Treasury to-
day was very large; the receipts for duties amount
ed to only $40, 600; but the total receipts were
$446, ,602 the payments, $493 ,523; and the balance
this evening, So, 5s9,447.
The exchange market per the Boston steamer
tomorrow opens without animation, and the lead
ing bankers have made concessions in the hope of
reviving the demand. The best bills on London can
be hadat l0ss for 80 days, and llog for short
sight, for francs, 5.l3l 5.l4s for 60 days, and 5lll
for short sight Even at these rates the demand is
light, and the tendency OF the market downward.
A check to the export movement of breadstufs
might cause rally in the exchange market; with
out some such change, the prospect is not very
bright for drawers.
The business done at the Stock Exchange to-day
was very large, and prices, at the morning board,
were generally brighter After the board, on the
receipt of the Jura's news, prices declined q
fraction all round; in the afternoon the market was
rather lower, and stocks closed dull The most
active stock Of the day Erie, which sold up to
35 then fell back to 80, closing 333 bid, against 33E
at the close on Saturday. There is no basis for
this advance In Erie. The condition and business
Of the road must improve vastly before its
stock can ever be worth $35 q share. IL is
very well managed at present, but that Is
all. The business will barely pay the inte
rest on the mortgage debt, and the preferred
stock and overdue coupons viii come in before the
stock now on the list. New York Central sold this
morning at SO, on buyers option, afterwards at ssi
cash, and closed ss bid against IS bid the close
on Saturday. The business on the road is reported
to be unprecedented. Hudson River jumped up to
Ga, and closed 63l, against Gas on Saturday; the
earnings continue large, though, from the fact that
there are five Sundays in the month, the gross re-
ceipts may not show as great an increase as was
expected. Harlem and Reading were both per
cent better All the Western shares were higher,
the principal favorites being Michigan guar anteed,
Toledo and Rock Island, all Of which sold at an ad-
vance of per cent at the morning board. Hi.
nois Central, which is quoted lower in London,
touched 80, buyer 30, but afterwards offered at
50, land closed IS bid, against ssi on Saturday.
Among the railway bonds the most active
were the Michigan Southern issues, the
Erie's and the Illinois Central's, all of which
were wanted at a small advance. State stocks
continue dull, and are hard Of sale except at de.
cline. This is especially the case with Missouris.
At the close to-day the following were the autho-
rized quotations. Virginia 6's, 81 1; Missouri 6's,
500 . 4; Canton, 81 q !; Cumberland Coal pre-.
ferred, IA a Is; Pacific Mail, s23 SO; New York
Central, sst I; Erie, 33a I; Hudson River, Gag
l; Harlem, l9l 4; do. preferred, 493 a I; Read
ing, 4s a 4; Michigan Central, III Z, Michigan
Southern and Northern Indiana, 234 q 4; do. qua
ranteed, 4sl <9 Panama, 126; Illinois Central, So
. I; Galena and Chicago, 70 a 4; Cleveland and
Toledo, lsi a Z; Chicago and Rock Island, Sly Z.
We are informed by good authority that Q large
proportion Of the paper held by the Artisans'
Bank and cassed by the Clearing House Commit.
tee as suspended paper andlpaper in suit" will
prove perfectly good, and that the profits Of that
bank will more than cover all its losses, leaving its
capital intact.
At Chicago on Thursday the offerings Of Eastern
exchange were very light, and the market was
firm. On the street per cent was freely paid,
and the banks sold at per cent.
The New Orleans exchange and money rates are
thus reported by the Picoyrrne Of September 49,
Money d slightly dearer, end capitalists uniformly pre-.
dict considerable advance. The demand for specie, In
the sbssaoe q ordinary supply Of exchsnge has caused
side operators AK higher rates FOR all grades Of paper
Toe change, however 81 best temporary one, - co.,
may and an increase In offerings of exchange must -
surely follow. Gear sterling bills, loo1 lloi bank
s sSI S .asf sy Sf s.y s o. ass
per prsmiun vim :oms q the banks asEins 4 pre-
mium.
Mr.. Haws, the City Comptroller, opens to-mor.
row proposals for IS 900 900 Of the Floating
Debt Fund Stock Of the City Of New York; See
potice in another column.
Aonexed are the receipts Of the Chicago and
Northw estern Railroad Company. for the first week
in September, iseo'-
From panepgsss sIooe -
Prom freight =. soss "
Total. ..sie,'cS %
Same week in 1885,
From passengers. so =
From nssnh...s'.'... '........s -" W e.oao ~
Cats In rsAo ........ $1,000 20