The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-11-15
FINANCIAL AND COMMERCE.
WEDNESDAY, Nov. l4-s p. N,

more satisfactory to-day. sisht exchange On New
York is quoted al a discount at New Orleans
and the banks are buying sterling bills at 1909 .
losa. IL they had never stopped bayDg they aha
their customers would have been better Oh 'o'uAy
Prom Savannah merchants write that the Pena'hs
political sgttaticns VIII not he sEiered 70 interfere
with business as though confidence was .
hing that could he created or revived at WILL Al
charleston bpsinesa IA suspended, but dispatches
,., :, i,iyay nat the legislature has not passed
the hin authorizing The banks 10 suspend specie
uaxmert.. ara that they will not suspend. From
Mohle ira letters are generally more cheerful
and strong hopes are expressed that when
ne south has lad inc for reflection the
apunion sentiment VIII prove less power
h,L From all sides, however, The report
Is that slaves and cotton lands are declining in
ysine Southern men must not delade themselves
INTO the belief t.at this disturbance can be got
over ia few days or weeks, or that convention,
or any number of conventions, viii calm the
troubled waters. The scarce of the trouble lies
deeper than politicians imagine. The electioa of
Lincoln brought matters to a head; but the ele-
merits OF disturbance were in full operation before
Lincoln was nominated, and they must work out
their appointed results, however the slavery and
anti-savery parties settle their controversy. The
Southern States arc going TO have their reyussion
Iust as the Western States had theirs in 1857. Cot
son land and negroes have been too high; there
has been too much trading on credit; too much
buying Of land and of negroes on credit too much
expansion Of ere dit in every way at the South and
now the bubble has been pricked, aud the collapse
must come. II IS FASTENED, and the distress is
aggravated by the menaces of the poll
ticians; but the catastro ohe must have oe-
CURED sooner or later in any event, and
al parties who have dealings with the South
should prepare themselves accordingly The North
and West must suffer in proportion to the extent
Of their dealings with the South.
There Is more ease today in the money market.
Some capitalists have recovered courage and
there is currency for first class paper at a .
per cent. Second class names are still very diff
cult to paos and unless a change takes place with
In a day or two some failures must BIO expected
Bankers are lending on call at per cent. But
the margins eNacted are unusually large. and
brokers are not very heavy borrowers. The banks
are curtaring 10 protect their gold, which CONT
nnes to 90 South
The expected reaction in the stock market took
place this morning. The low prices Of the past
day or two brought in new buyers, and
relieved the market Of quantity of cash
stock. At the opening the Western shares
advanced 2 or per cent all round; but the
advance encouraged the bears to offer their
options pretty freely and before the close of the
second beard reaction took place. Thus, Illinois
Central, which was al so last evening sold this
morning &: 65, thea fen TO So, and closed in the
att rnoon So bid. Rock Island, which closed yes,
terday at So sold at az this morning and closed
81 bid. The New York shares were better sup
TAI cash and closed ~ bid. against III yesterday
Erie advanced 70 - cash. and closed 3il bid against
2sA yesterday Hudson River sold at 80 cash, and
closed Joi bid, against 20 yesterday. Among the
State stocks, Tirgirias were better; 1ssouris and
Tennessees steady Tie bidfor United States stocks
was higher. The heaviest decline Of the day was
In railway bonds, as for instance in Fries and hi.
nois Central which were offered at heavy con.
oeSzion BY parties in want OF money. New Jersey
Central also which Is not q speculative stock. and
which has been dealt in at Is ll0 sold to-day at
mar. The lest sale yesterday was at III. This
afternoon lie market was irregular; ii closed a,
the following quotations.: States Sc, 1874,
100 7: Halauas 10; Virginia 6's, IS a So; Tennes.
see c.. SCI y; Missouri 81, 723 ~; Canton, II
as Cumberland Coal preferred, 10; Pacific
Mail Is 79; New York Central, "a 1; Erie,
5iA n FL AtAAA0h ittNNAf WNt u nA AAatNAhf 1T
do preferred, 81 81; Reading, sii a IS; M;hi.
gan Central, Sd s.; Michigan Southern and
Northern Indiana, Is a I; 10. guaranteed, 33i 20;
Panama, II a rs; Illinois Central, g., q GJl;
Galtnl ara Chicago, COZ a Gcl Cleveland and
Toledo, 2. ~; Chicago and Rock Island. 81
\; Chicago. Darlington and Qaiaey, III a p; III.
nois Central bonds, 80 9l
The business of the Sui. Treasury today was as
follows
rO,ai ..,.... sis $50 u
--FOr customs slA0l %
Tnsa payutus ...................a...... 1sTl0I %
BAsuoc. bsi7 6t2 co
The following gentlemen we're elected directors
his day q the Pacific Mail Steamship Company
Cor ne ensuing year. from November H. lsso:-
William II. Aspinwall, Charles A. Davis, Francis
5kid3y. samuel W. Coms,ock, Frederick II. Vol.
colt, Howud Potter. James I. sou,;er, Allan
MoIane, Daniel Il. Allen. W. IL. Dayidgc, G. II.
Russell aud W. II. webb declined reelection.
The earnings Of the Erie Railroad for the month
q os,oeSr. 1850, were 2t2 %
E~rniogs October, ~ coo W
InorSsrr go l3
The following table shows tho condition Of the
banks ID four leading cities
s.cr,e.-s ~ ) ss...ct7 lis.sia srsea L galsi
sss,s =. y i;s s s .!s :, iS. ss!!i s9s =;
$50 s-cs Ss' ia - $4,000 $500 iSiit sj's5
=. =. Z. 4 4. Il ss. $40 I Iil.s i!
p,v.... -. n''a.. Issl'. nI,7 issi'sl
fnrrt sse...s Va -
The following telegraphic dispatches were read
.. The Board Of Brokers this morning In the order
In which We give hcm:-
mol
CHAEtxSrox Nov. "a iseo
Na bark has ruspSnded. I do not think any WILL
Columbia The state doe at H&1-ton
pension ntss ~ Charleston strong No bM - pA,Eei
aatoorFirR SUSPENSION. q A. rRENa0LA