The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-25
FINANCIAL AND COMMERCIAL.

FRIDAY, August z4-5 p. N.
TIE money market continues pretty active, at 9
sOr call loans, and 6 q for first class paper &C.
sording 20 length. We hear, however, of line OF
first class paper go days to run, going at 7 per
cent. Per contra, a leading house borrowed yes
serday, on United States securities, a very large
sum indeed, at 8 per cent, and relent 800 900 of
1t New York State stocks at 4, for fifteen days.
There is no difficulty in borrowing on fair market
able stocks at 8, and lenders lind il difficult
10 get over that rate for money. The
Bub Treasury business yesterday was fair;
she receipts were s2s2,soO, OF which sissooo
from customs; the payments, 1857 ,oss; the balance
Mis- evening. IS 1892 ,97s.
An active business has been done in foreign ex-
change for the steamers which sail tomorrow. AT
She leading banking houses the asking rates have
been lO9g ITO for sixty day sterling bills, and
llO1 for short sight, for bills on Paris, 5.l3l
la for sixty days, and 5.lOS for short sight. Good
mercantile bills are offered at 1901 5. The
steamers which sail tomorrow will probably take
cut a very large amount Of gold, chiefly
coin. II is impossible to estimate the ship
men. 81 the time we write, but it will
probably be between 100000 and $1,000, 900.
The stock market opened this morning with con-
siderable buoyancy, and a marked advance was
realized in all the speculative securities. As was
The case yesterday, after the board slight reac-
ZION took place; in the afternoon the market was
steady at the reaction, and stocks closed without
change. The most buoyant stock on the list was
Illinois Central, which sold as high as SO this morn.
bg-sn advance Of 1I over the closing price yes
serday. AT midday theprice was about $50; at the
close $50 was bid. We did not give currency
This morning to the rumors regarding Mr..
Nathaniel Ranks appointment as Vice Pre-
sident and resident Director of this
company at Chicago, as at the close of business
hours he had not definitely accepted the post 1t
seems, however, to be taken for granted that the
snair is settled; and as Mr.. Banks administrative
capacity is well known, the company is receiving
congratulations on the acquisition. Rock Island
and Galena were 1 higher this morning; the ad-
vance in the latter, however, was checked by free
sales, and the stock closed at sl} bid, against so
at the close yesterday. Toledo advanced l per
cent in the morning, closing 4s3 bid against Ash
at the close yesterday Michigan Central ad-
yanced II per cent and Southern, both kinds,
rose about as much. In the afternoon they were
pretty steady. Hudson River was wanted at 60 at
the morning board; it fell off afterward, and at
the close only $50 was bid, against $50 yesterday.
Central advanced /, Erie Z, Harlem /, at the
morning board in the afternoon they were all
rather firm. The business in bonds and State
stocks continues light but prices are well sustained
The issues of the Chicago and Northwestern are
IN demand at improving prices. The last quota
lions Of the day were:-virginia 6's, 90i 81; Mis-
souri, IS, s1J 50; Canton, 20; Cumberland Coal,
preferred, Is a l6; Pacific Mail, 79i 80; New
York Central, s4i a Z; Erie, 29J 30!; Hudson
River, $50 59l; Harlem, Isl a 10; do. preferred,
AZ a As; Reading, 46 j Michigan Central, 70 |;
Michigan Southern and Northern Indiana, 23i ];
do. guaranteed, Az 49, Panama, rs 1885, Illinois
Central, ss3 a 4; Galena and Chicago, sll 81;
Cleveland and Toledo, isa a Z; Chicago and Rock
Island, s2g s3l.
The importation of dry goods for the week ending
this day is in excess Of that of the corresponding
week of each of the two past years. The figures
ere So JAS ,o00 against 81, sll 900 for same week
last year, and 81 ,2l3 900 for same week of 1858.
Last years excess over this year is now less than
nine millions. If our importers increase their or
ders much more they cannot fail to bring about as
unfortunate state of things as beel them last year.
Tie South this fall, cannot afford to buy as freely
ne she did last year; anu the West has old debts to
pay before contracting new ones.
The City of Baltimore's news at Cape Race is
commercially favorable. Cotton had advanced t.
and was buoyant at the advance. Breadstnfis
were higher and steady. Consols had declined (
4, owing, it is said, to warlike runors. It will
probably turn out that the bad harvest, which
always Affects the funds prejudically, has more to
do with the decline than foreign politics.
The monthly return of the Bank of France. as
made up TO Thursday, the 9th of August, shows the
following results (the exchange taken at 2jf to the
ponnd):- ...
Eoin and bull .......... Increase. 81 900 900
Bils discounted ............ Increase 49,. 100 600
Notes IN circulation Decrease. LOO 900
Tre.sury deposits Increase. $50 900
Pyiy ATE deposits Iucrcase.... 0v0 90
Advances public securities. Decrease is't0v'o
The most satisfactory feature is the increase Of
fl00,O 900 in the bills discounted. following the In
81 len on - q,