The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-29
.s42. 4os,677 42,ss4 1853 '.6s, 5ss ass

Since Jan. L.. s42 400 677 ~ 1884 800 ess i5s
The increase over last year now amounts 70 over
SIS, 700 ,000 The shipments of produce are becom-
ing very large. The shipment of wheat and -four
to Great Britain during last week was about
sos 000 Heavy shipments of cotton provisions,
oil, &C., were also made TO the same country.
We note a consignment Of Washoe ore to havre.
II seems pretty evident, from the tendency OF
trade, that we shall this year ship more produce
from this port than we ever did in any previous
year.
The money market is called active, and brokers
are paying seven per cent, in some cases. for tenn
porary loans, The standard rate, however, can
hardly be quoted above Ga g, and at the discount
houses desirable paper is still very scarce. The
bank statement has frightened good many peo-
pie, and for day or two money will probably be
harder 10 get than it was. Some of the more
guine traders look however, say they look,
without any apprehension, for an expansion OF
sl35 900 900 this fall Their idea is that the exist
ing general prosperity and the enormous increase
of production this year justify bank ex-
pansion, which would have been unsafe when
there was less real wealth in the country. We
are not aware to what extent these views may be
shared by bank managers; but if the banks
going 10 expand till their discount line reaches
tI35 900 000 the money market will be very uneasy
throughout the autumn. Much higher rates than
those now ruling there is hardly any reason to an
ticipate.
Some of the bankers have raised their rates Of
foreign exchange and we now quote sterling bills
10 ! for 60 days, and 11Os a ! for short sight,
francs being, as before, 5.l3i lag and $40: for
short sight. The demand is not very active; the
shippers are supplying fair amount of mercantile
bills at 1904 q 2. The Persia, which sails to-mor-
row. will take out about $500 900 in specie; most OF
the shippers are going to wait for the Saturdays
steamers, which carry gold at a lower rate.
The stock market opened dull and heavy this
morning as it closed last evening, and sales Of
some Of the railroad stocks were made at de-
cline. After the first board rally ofa per cent
took place. in the afternoon the market was with
out change, and stocks closed steady. The decline
OF the past day or two has encouraged the bears,
who are hammerng the market with good deal of
courage ii has also brought in some new buyers.
Should the bears persevere, new advance would
rest on more substantial basis than the last; with
out bears, rising market is always treacherOus.
New York Central, which closed yesterday 81! bid,
done as low this morning as 81; it was after
wards wanted at sag, and closed that bid. Among
the Western shares Galena was the most depressed.
II sold in the morning down to 70, decline of per
cent from yesterdays closing price; rallied to 79l
/, and closed so bid. Michigan guaranteed was also
freely sold by the bears, who made contracts as
low as 45s on time; it closed 46l bid, against 46s
Yesterday. We understand that the road is al.
ready doing fine freighting business eastward,
though the lakes are open and every vessel en-
ployed. Toledo was rather better; Michigan Gen.
trail and Rock Island were steady at the morning
board, and the same in the afternoon. Illinois
Central sold down to SGT, and closed ST. bid,
against s6a bid at the close yesterday. The bust
ness in bonds and State stocks was light. The fol-
lowing were the closing prices of the day:-United
States SIS 1874, 1929 1891; Indiana State, COL a
81; Virginia State G's, 9oa a 81; Tennessee State
6's. 9ol &; Missouri State 6's, sla Z; Canton,
| l95 a 2Ol; Cumberland Coal preferred, lag Isl;
| Pacific Mail, 79s {; New York Central, sIl i
Erie, 2sI 20; Hudson River, 57i Z; Harlem, l7E
Is; do. preferred, 452 a 46l Reading. 46 I;
Michigan Central, 7l3 ~; Michigan Southern and
Northern Indiana, 22 a !; do. guaranteed, 46! /;
Panama, l24 12J; Illinois Central, s7i Il Gale
ma and Chicago, so a /; Cleveland and Toledo, Az
a Il Chicago and Rock Island, s2l /; Chicago,
Burlington and Quincy, sel; Delaware, Lackawa-
ma and Western, %; Illinois Central bonds 9Ci Z;
Delaware and Hudson Canal, 9il; Pennsylvania
Coal, $50.
The following was the business of the Sub.Trea.
sury to-day
Total receipts sls5 $50 90
-for customs ls2 600 %
Total payments. $40 Oh ~
TOTAL ohaiCc'... oO ,ooO 70
The State Comptroller has advertised for tenn
porary lean of two hundred thousand dollars for
canal purposes TO bear interest at the rate of five
per cent per annum. payable quarterly, and the
principal Tembursabc on the lst of October 1868.
Proposals will be received until noon of the .5th
of September next.
The exchanges at the Bank Clearing House this
morning were &2l ,006, l5i 90, and the balances
sllli,7jO "a.
The Essex County Bank of Newark, has dc.
cared o semi.annual dividend of three and half
per cent payable on the LIST OF September.
Oelriclls 4 Co., OF this city, have commenced
salt against the city Of Pittsburg ~ SIS 900. con.
pous which the company hold ior ralroad interest,
The receipts Of -four and grain at Chicago on the
f,h inst. were as follows:-
Tlo.r bos.;.' 2392
Wsa, .10I,1I4
~ ........'.s........ .................. s9156
:. . ''''''''''''' '''''''''''''''.''s... $500
rats 90. '''''s...s................ Also
Be-. '.'''.'''............,..... 20
'N''! $3.50 - says
ghe Philadelphia Leas> " of the condition Of
The fcllovn...~ is sumr,s.. ne returns to the
be banks Of llliaois. as 'hOwn in~. -
State Auditor, on the first Monday Of Jus.
PssoWre
ccSs deposited security for circulation SO CTS 900 10
Teal estate. Observation-Disclosures, 1isI25 So
votes ~ other -, " hanf .,.t,t.,,,. 2oIoGs "a
cNv iue The oahsfi'' '........... looo y54 10
oans and discounts. 36e pd1 81
s-er.c Or bend. CSC 1TG 80
1cp1si,eI with other banks 1908 6l6 az
ryicnsce ACKNOWLEDGEMENTS. % e3s 90 |
ash items ACKNOWLEDGEMENTS. 80, "a COS SO |
surplus stock 2O16& 50
suspended debts Observation-Disclosures. l02e 90 |
rroft and Ices secourL ................. co32T ~
4
Total. al l@S oso 81
Iluliit0s