The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-11-24
PRICES AND SALES OF STOCKS IN NEW YORK.
= NTH
No quotations received for Second Board.

The New York Tribune of this morning says
There was moderately active Stock market this
ing, with general tendency to Improvement which
not however, fully sustained at the close The bold &C.
ton of the banks last night which practically was sus-
pension OF specie payments, it supposed would ope
rate in the the actual suspension in 1857
and this impression brought in BUYERS from the outside
well as from the ranks of the shorts The bears were
not very active and the commission houses had larger
amount of orders than of late The of bank sus
pensions at the South and the tone of Southern pot
cal adyces were not reassung, and checked the
upward movement but as the day advanced and these
bank suspensions, it found had no real influence
here upon financial matters their effect was lost and
the market again assumed its buoancy and between the
Boards well sustained. At the Second Board the
business much larger than usual and higher prices
were in almost established The desire to buy
was very marked and there was but moderate resistance
made to the rise. Some of the chronic bears however
still predict disaster and sell moderately The street
must be very short on borrowed stock and short seer
options while the cash stock has been largely
reduced by the cash buyers of last ten days The
bears recently selling quite reckessIv IN
options regular without the stock in hand trusting
to the slaughter of some real holder for supply of shares
to meet their contracts. turn of the market which
would force these bears to buy in their shorts would
terially accelerate the upward reaction.
The over supply Of foreign bills prevents any improve
men IN rates put there fair business doing and pro-
duce ps hnd that market which they lacked few DAYS
ago Very good sterling have been sold TODAY at
lOoalo2 per cent. Bankers ask 1030lO5 but no line
could be sold above l03 and almost any signature could
be he'd at that. Francs SIS SOFAS 40 without mich
currency The growing ease in money will undoubtedly
bring remitters freely into the EXCHANGE narlc
and bring about greater activity but the general mnre
sion is that there is actual superabundance of bills he
yond the demands # importers and that the rate will
not at present materially advance In this case we see
nothing to prevent considerable importation of gold
from Europe and alarge advance the rate of
at the Bank of England.
The feeling in the money market was more cheerful TO-
day. although the relief is have any very
marked effect. Demand loans were easy at per cent
but in the discount houses business does not show
much increase of activity The rates of paper are
nominaly easier for the seller but the transactions show
niue or no change on the best grades The range 12
10 percent, with exceptional sales at SlO per cent II
is anticipated that will be considerably ameorated
next week.
The Philadelphia Inquirer of to-day says:
The Stock market has been feverish and excited TODAY
owing Principally to the conflicting opinions en-
as TO the ultimate effect of the suspension of our banks
frlces however, were generally steady, and in
speculative shares, although there but little doing
the tendency was to improvement especially at the
close of the day " $3.50
The suspension of the banks has created a decidedly
better feeling IN the money market, and rates. though
nomlnay about the same yesterday, rather look
ing downwards and among the note brokers there was
considerably more inquiry for first class names The i'm
mediate effect OF the suspension here will undoubtedly
De 10 releve the mercantile community, and through
them to extend better feeling throughout the various
branches of trade but whatever may the ultimate resu
1t is matter of real pleasure such unanimity Of
purpose and harmony Of action in their Jealous erts n
grant facilities and restore confidence
An important decision has been lately rendered nv th4
supreme Court OF Illinois, that note PAYABLE with ex
change is not negotiable 1t is merely contract in wr
tng 10 pay an uncertain sum of money, and
clared on and proved such 1t is promise to pa
certain, which is requisite of promissory note
By the Illinois law, contracts which not negotiable
and none are negotiable except by endorsement whether
drawn to order or to bearer to person named-mus
be sued upon in the Of the original payee and ar,
subject to all the defences which can be made between thu
original parties. This decision will include bills of ex
change.