The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-06-04


sinoe January l. .s4s,sn,b 74 ss,,saC22 ss,sls.7s4
EXPORTS EXCLUSIVE OF srsuy
1868 1859 1880.
F.: ,s: ::;s;;.s sss
snos January !. .a ,s2i csc a.slo,s4 ss,sss.sss
ExPoErs arsK
Previously reported. l2esO,lsa aSs7e7bs l2,a77 4sa
Since J,nuasy $40, 1872 2ls 2soo2,7ao la,os6,e si
The receipts Of cotton at the ports, though
small usual at the season, are in excess Of those
of the same period last year. Last week $4,000
bales were received, against 81 900 same week of
1859, and $1,000 same week Of 1858. The total
receipt is now 4s5s 900 bales, and the prospect is
that 1900 600 bales will be reached. The growing
crop is said TO promise well, though in many parts
complaints of drought continue TO be heard. Many
OF the tales which are circulated with regard to
damage done to the crop are traceaole to the ope-
ratons OF spectators, and, on the whole, we sec
no reason to doubt but that, thus far, everything
promises handsome yield.
The grain and four markets were tolerably &C.
tive last week, and fair business was done at
rather improved quotations. The export demand
keeps up; there were liberal shipments of corn,
wheat and -four to Great Britain. Should any unfa.
vorable news arrive with regard to the weather in
England, we should witness q very excited time on
the Corn Exchange. Thus far the receipts, both at
the receiving points West and at the shipping
ports, fully confirm the statements which have
been made with regard to the excellence of last
years crop. Our canals and railroads are doing a
fine business; the grain receipts at Chicago to date
are about equal to those Of the same period of 1858
and 1859 combined the increase In corn being
especially marked. As the time approaches for
the formation Of reliable opinions with re-
gard to the crop Of 1860 much concern is felt
on the subject. especially in consequence Of the
reports Of drought which have been csrrent From
all that we can learn, the crops in New England,
In the valley of the Mississippi, and in Kentucky,
Tennessee, Georgia and Alabama, have suffered
-.ors less severely from want of rain. In many
places they are alreaoy un a''s~,-> s-u-,s. this
applies peculiarly TO the Southern section of
the country, where they should be nearly ready
for harvest In Ohio, Indiana and Missouri, -e
are told TO expect nearly average crop. In Hi
nois, Iowa, Michigan, Minnesota, Pennsylvania and
New York, very good crops are expected. Recent
rains have repaired the damage done by the
drought and the wheat crop Is looking finely.
On the whole the prospect Is not unsatisfactory,
though the want Of wheat in the South may cause
advance in prices this fall. The area planted with
this spring was in excess of the average, and
farmers looking forward hopefully to the future.
Ii is, Of course, too soon TO form estimates. All
that be said In that the farmers have thus far,
been enabled to do their work well and thoroughly
The banks will probably show an increase Of
coin tomorrow. Last Monday they showed m
average Of 500 ,i3l,7 49, which was. however, less
than they really held, o. the remittance by the
Northern Light on the 2Gth- 81 y5l9, 1903 was some
$500 coo in excess Of the shipment TO Europe on
the sane day. Beginning the week thus with
something less than $4,000 900, they increased
<heir reserve almost daily by receipts from Phiaiel
phia the South and the Sub Treasury. II ~ believed
that about half million reached the city last geek
from Philadelphia alone. The SubTreasury lost
money, the balance last evening standing az
te62l ls3, against Sc 9sa SEQ at the close of the
week previous The shipment Of yesterday
81 500 l9o-will not affect the statement to be made
tomorrow, a. the gold sent abroad was couotsd
FIVE days In the averages. This time last year the
banks held t2s ,72s,3ll In coin, and the Sub Urea
sury s4o26 $50; total, $27, 754 sell against about
$50 900 900 now.
The bank loans viii not probably show any ma
terial change. Last Monday they were
cas-, 700, which was an increase of sl-ee
81 on the week previous. The bank presidents
would, m general rule, be veil pleased to increase
their lcans; and, In view Of the large specie re-
serve, the dulnes Of exchange the cautious policy
pursued by the mercantile community, and the
general evidences Of returning prosperity which
meet the eye on every side, moderate increase IN
the discount line would create 10 apprehsnsian.
Bo. the very causes which would justify the ex.
mansion render II almost impossible. There IL 20
little specu,, tive business doing, and merchants are
trading within s safe limits, that suitable paper
, extremely scarce. md the banks find II barely
possible to hn mp their In. es' ~ is quite possible
that this cause may operate TO any increase
Of discounts at present, notwithstandin inc desre
rh,c,. the banks feel TO earn interest o. tnen
capital.
We note a fursn,-- decline 10 The value Of mo.
1ey. Money Is nc~ offered, % call, hy barn. Al !
well as capitalists, at ~ per cent and FIRST class
short socertances are eagerly taken at the same
igure. We hear even Of transactions as low as
our per cent; these, however, are exceptional
'ases. Many OF the brokers are taking money on
he ordinary collateral st Eve per cent frorn the
lankers with whom they generally deal; where.
However. the broker seeks TO take advantage Of /
The cash luctuation In the market. the rate Is not
above ~ -Four six months paper, strictly first |
class, ranges from a 10 - per ceut single names,
highest grades, s 8; names less generally known
20 az Ia alo, as usual. The political distur.
,ances In Europe DO not seem 10 have affected
,rr money market, though they have been 80 much
alked OF on the Stock Exchange