The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-25
FINANCIAL AND COMMERCIAL !:
MxpNEspAY. Oct. 2l-6P.N

WEDNESDAY,, Oct. 2-6P.M.
Inc money market continues easy and moaov
on cali can be had everywhere ct per cent. Pa
per OF the highest class ranges from to per cent?
lower grades, "a . 10. Nothing has vet been
heard OF the Southern paper which the Southern
banks are unwilling to discount In consequence a
the prospect Of Lincoins election il would be verv
welcome here, if it be really worth anything.
Nothing was done in foreign exchange to-dax.
The steamer took out only $lS,s6s. The market
closed quite dull.
On the Stock Exchange the panic still continued
this morning. and prices were marked down or
per cent lower. The margins of weak bulls are
becoming exhausted, and Their contracts closed at
heavy loss. Thus Hudson River was done -
low as 81, decline of per cent; Central at 81,
decline Of ri; Erie at 30, a decline Of Iii Rock
Island at 66, o decline Of "a; Illinois Central at
&c, decline Of 2; guaranteed at 7ss, do
cline Of 81; Toledo at 80, q decline Of 8 per cent.
and so on throughout the list Between the
boards the market was still lower. In the after.
noon the market was unsettled; some stocks were
lower, others higher. Erie fell as low as 80, and
Central to s7A; most Of the Western shares were
also fraction lower than in the morning. At the
close, however, there was rally, and the market
closed better than it had ruled during the day.
The following were the last quotations Missouri
s's, 7Sl q 4; Canton, II 10; Cumberland Coal
preferred, 100 a IL; Pacific Mail, 81 I; New York
Central, SO a 4; Erie, 32a I; Hudson River, 81 .
!; Harlem, l6 a l; Harlem preferred, All A;
Reading, AT a 4; Michigan Central, 81 4; Mohd-
gan Southern and Northern Indiana, II q |; do.
guaranteed, 3s3 40; Panama, liz /; Illinois
Central, 76 o 1; Galena and Chicago, ia "a:
II IL IL IL l.. I'D Dnnlv
Island. 64l al.
The Stock Exchange has for three or four days
gone through a panic which reminds one of old
times. The speculative railway stocks have fallen
from TO 10 per cent in about three days. In tho
meanwhile money has remained as easy as ever;
railway traffic has continued to increase; the exports
ofproduce continue enormous; the export goldhas
fallen of; the wheat and corn crops fulfil the most
sanguine expectations; the cotton crop, though II
will probably not be as large as that Of last year,
will be large in good condition, and Is coming to
market early; the banks have curtailed nine NIL
lions in two months, and are stronger than ever be-
fore; in word the panic on the stock market has
taken place in the face of such combination OF
elements Of prosperity and confidence as probably
never was witnessed in this country before. Thia
surprising phenomenon is ascribed to the general
dread of political disturbances consequent upon
the prospect Of Lincoln's election. 1t is little
remarkable, however, that neither federal nor
State stocks, which would be the first to feel the
effect of any real political trouble, have shared
in the decline and real estate in New
York, which would suffer far more than Western
railway shares in the event OF dissolution of the
Union, has not been affected in the least. Even
the stock of those banks whose customers reside
at the South, and which would infalliby be broken
in the event OF any attempt to dissolve the Union,
is maintained in the face Of the threats and terros
by which we are surrounded; and these binka
themselves are SO prosperous, and feel so htae
real regarding the future, that, unless ru-
NOR bellies them, they are not wholly disints-
rested spectators Of the pending panic In the stock
market Altogether, it seems TO be fixed fact
judging from the general prospect-that the dis
solution of the Union is to injure Western and New
York railway stocks, and nothing else. In the
mean,ine the Illinois Central Railroad, which, with
the MiNiHppi, Is the principal chAnuel Of commu-
nication between the West and the South Is doing
the largest business II ever did, in carrying West.
em food Southwark and Southern cotton to the
North A party of gentlemen from Florida arc
here, negotiating for the establishment OF . new
line Of steamers between this port and Florida, and
offering to guarantee an unusual amount OF tranic;
and the largest private banking house in the city Ia
doing larger business in Southern bills than 1t
ever did before.
The business Of the Sub. Treasury to-day was az
follows
FOR Cubtom6.. oxOVV W
fsymenbs. lo0Vsy VI
nAlAnoe. ,oSo ~
The exchanges at the Bank Clearing House this
morning were s27,s36,Al5 rs, and the balances