The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-22

Goes IONS nave now beeD ralse1 NFNGA, seS'-4lHsyf
must be definitely settloi. 1no way p lilo ohe-
before commercial matters oan res1n e the saraas
aspect which thcy W0re n Aagas. last Tho 5sre
between the North anl the South mns' ~ isirly
and sqBarely Joined anl prosecuted , sn2l juS.
reDt before OF. i3encia Affairs vii les. anon !.
basis OF un4uestiopable stability. But, IN lie
meantime add ion he present, our mer,hants AMI
our banks are safe. This i matter ior profound AMI
general congratulation. II gives us pleasure -
add that large share Of the credit OF tbs new g.
rangemcnt il due 10 Mr.. John A. Stevens Pre.s5ell
OF the Bank Of Commerce who proposed il, and
urged il upon the other banks with energy AM
perseverance,.
The ewsfror the South to-day Is not encouraging
for those who have interests IN that section OF the
country. Southern bank notes are discreditsd 4,
and cannot be passed above twenty-five per cent
discount. By telegraph we hear that the banks os
Baltimore, Nd. and Richmond and Petersburg,
Va, have suspended specie payments. This was
generally expected These banks have been in .
weak condition for some time; the disturbance
created by The political sgitations Of the day has
proved fatal to them, as might have been anti,i
pated. The suspension Of the South Carolina banks
and most OF the Southern banks, excep. hose OF
New Orleans, is probably mere question OF time.
From New Orleans We learn by telegraph that sight
bills on New York are held al = premium nc.
discount quotation which shows that cotton ship
ments have ceased and that gold must Cow North
ward. This panic and these political agita.ions
are evidently going 10 naict al amount Of injury
on the South that can hardly he estimated. It j.
70 be hoped tia. The planters AMI merchants OF
those sections Of the Gulf States where Tie corn
rops Jailed this year have had the forethough. ~
supply themselves in time with corn and 3roVi-
sions for their winters consumption. Nothing
would be wanting 10 complete the Measure OF the
mseries OF the South this winter but famine, with
the possible consequences among the slave popu-
lation.
The only change that was noticeable q. lay in
the money market was sight increase II the
amount OF money offered 10 the brokers on call.
Several old houses rad more rendered to them To-
day at seven per cent than they could use. Paper
continues very hard Of sale; rates range from l.
per cen, upward and az these figures buyers are
scarce. Not even in 1857 was mercantile paper
more difficult 10 dispose Of than Il is a. present.
Several failures are'reported to-day--a dry good
house of some character and standing, and several
houses on the Corn Exchange. The receivers Of
brcadstuiis seem to be the most conspicuous snl
ferers by the present panic. Four prominent deal
ers at Albany sre reported TO have failed.
Though this was not packet day, the 1ank Com
mittee for the purchase OF produce exchange re-
ceived quite number Of applications, and made
arrangements for tie purchase Of about $4,000
sterling Of bills.
' Business on To stock Exchange commenced this
morning Wit, better feeling on State stocks, but
less inquiry Tor the speculative railroad shares
After the first board the usual di0lculiies were ex
perienced in obtaining stock for delivery, and c
slight advance ensued. In the afternoon some
rumor Of the proceedings Of the banks reached The
ears of the jobbcrs, and very smart upward
N oyement began, which lasted till five O'Clock
with general recovery IN prices. United States
SIS advanced per cent; the advance in Virginias
was equal 10 Il, in Missours 10 l., in Tennessses
10 /. New York Central was done o. low as IL in
the morning, il rallied % - between the
be Ards sold al "A after the second board and was
wanted NJ 7ii afterwards Since the present panic
began over IL 900 shares OF Central have been
sent 10 the country. Hudson River vas hammered
down 10 80 this morning; it sold altcrwarl AZ fi
and closed az against ~ yesterday. Among the
Western shares Gaieua was the most mercuria
II sold o. 50 this morning; ia the middle oC ihe day
TIE astounding news arrived that the directors had
met and declared dividend OF five per cent: on
tho strength OF this the stock advanced 10 6Q. n,
and finally G.! bid, against 81 yesterday. Tie
other Western shares were lower ia the morning
but better after tie rumors about the bank move.
mont began to circulate Comparing the prices of
this evening with those If last evening we note
an advance Of / in Erie, / ia Reading. u In
Michigan Central. In guaranteed, in Panama.
/. in Illinois Central, | in Toledo. | ia
Rock Island, 5 In Burlington, IL Pacific Mai.
The market closed strong, the following being the
quotatons:--Uuited States IS 1874, ~ y; Wiz.
GINA 6s, ,ol 50; Missouri IS, 50 } Tenncssees.
rs 80; Canton, IL a l.; Cumberland Coal pre-.
ferred 81 a 3; Pacific Mail, "a !; New York Cen.
trail, "a. l. Erie, 81 ]; Hudson River, Al: a;
Harlem, IA Is: do. preferred, ~ q 81 Reading.
39i q 3ii; Michigan Central, 40 q 50: Michigan
Southern and Northern Indiana, l3i a IA: DO. qua.
ranteed, ~ ]; Panama. l0ei 10; Illinois Cen
tral, SIS a /; Galena an,SChcago, 81 4; Cleveland
aud Toledo, - a A; Chicago and Rock island 5e5
81; Chicago, Burlington and Quincy G7l 50.
The business Of the sub Treasury 70 day was as
follows
Receipts fiib,sls 81
--For ssions,-,...... ................-. +4cOo %
oF 20 50
Bsiaree. ssb rs
Tbe following j. a statement 81 The movements
Of Gotten .dE tie las, week and since ist OF sep
TENDER last, compared With uic iyc preceding
years
- R,cefI -, --E-pors fer Pali Wess =
Fae ,.sos ~ G.sat %
war Nm; Britain rranee oh.rP
1850 p 90 14l Geo 1900 2oco 1000
a. lol 10 .sspeo 5000 eco 5000