The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-07-25
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million of dollars worth Of wheat and -four TO Great
Britain As whole the statement must be regard
ed as very favorable. The export Of prodsce and
merchandise Is now nearly sl3 100000 in excess OF
that of last year 10 same dae the export Of specie
SIS 500 600 less, and the imports of foreign goods
1900 900 less Our position is thus 81 100000 bet
ter than il was at this date last year.
There is no change in the money market The
rates continued 20 be per cent for call loans,
and the same for strictly first class short paper for
prime paper, a months to run, So a Ga per cent.
Yesterdays bank statement is not favorably
viewed in financial circles, though serious appre
hension of trouble is felt just yet. Tho Sub-Trea-
sury receives o great deal Of money, but gains
nothing, the disbursements are so heavy. Today's
business was:--Receipts, s2N ,25S, of which ;l9i,-
900 from customs; payments, s3Ol ,057; balance
this evening, $j,339,sl5.
The Boston steamers mail closed with dull
feeling in exchange. Most OF the bankers asked
for their sterling bills l09z 10 for sixty days,
and ll01 for short sight for bills on Paris, $40,
for short sight, and j.l3l for sixty days. The COM
petition among drawers Is so keen that the profit
on drafts drawn against gold produce bills Is
often less than nothing. Still each house wants to
preserve control Of the market, and continues TO
supply bills as cheap as It's rivals.
Contrary to general anticipation, the stock mar
ket opened buoyanuy this morning, and prices of
all descriptions Of stocks advanced from to per
cent The oldest operators were unprepared for
such an advance; many of the leading bulls have
been selling out and others have been holding
back in the hope Of being able to buy at lower
prices. 1t is hardly possible to account for this
days risc except on the theory that there is an I'M
dercurrent OF outside buying far more active and
general than is popularity supposed in Wall street.
As usual, the Western shares were the favOrites
Rock Island advanced L. Toledo H. Galena Il,
guaranteed 2, Illinois Central l, Michigan Central
II, while Harlem, New York Central and Erie were
in scarcely less demand. II looks as though there
was less stock in Wall street than usual; as il the
900 or 5000 shares of each stock which have
served the brokers for their daily deliveries for the
past year or two had been reduced TO less than half
that number.
Operators had relied uron the poor traffic on the
Western roads and combination of untoward acct.
dents TO produce decline in prices; but the very
properties which should, according to ordinary
rules have fallen Of, have proved the swiftest 20
advance. In the face of the news of the actual
VI -ht'Vih'y 4hy'iH sun hSahict
the New York Central, the stock rises o l per
cent in the face of decline Of over 80, 900 on the
week in the Galena earnings, the stock rises | !:
in the face Of the established certainty that new
are going 10 the Pacific Pacific Mail adj
yances o. The tide OF opinion flows in that direc
ton, and there is resisting it. Hudson River ad
vanced II per cent, closing 90 bid. The directors
advertise that half million bonds Of the Cd mort
gage issue will be awarded TO stockholders at 9j per
cent. The money Is to pay off the floating debt,
lay ton miles Of double track, and complete some
buildings required by the increasing business ofthe
road. We understand that arrangements have been
made by which a few individuals agree - take
whatever proportion Of these bonds il not sub
scribed for by the stockholders. The market this
afternoon was active. and closed Grm at the follow
ng Virginia 6s, 81 3; Missouri &c,
SlI a 50; Pacific Mail, IS ,; New York Central, |
80 !; Eric. 235 4; Hudson River. 5jl J; Har-
lem, Il I; Harlem preferred, ~ '; Reading. 49, |
4; Michigan Central, 50 q 2: Michigan southern
md Northern Indiana, ~ l.; Michiean southern
nd Northern Indiana guaranteed 39l i Panama, |
i26, :; Illinois Central, "a; Galena and Chicago, |
20, ]; Cleveland and Toledo. 81 3; Chicago and
Rock Island, -, &c.
The following il q statement OF the movements Of
cotton for the past week, and since lst September
last compared with the five preceding years.