The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1860-11-21
@ NJ M r. TX G l A l.

COM NJ r X G l A l.,
A number of the Banks of New York city on
Monday, agreed to unite IN the purchase OF ster-
ling bills of exchange to the amount Of two MIL
lions and half of dollars. The purchase is to be
! made through q Comm .ttee, the business of the
tIansm ission OF the bills, &c to be conducted BY
the bank of Commerce. The same Banks also
resolved for themselves, and recommended to the
other Banks of New York city an increase in
their discounts during the present week to the
| tent Of FIVE per cent beyond receipts. These mea
sures WILL no doubt, have a reassurlng effect. fur
nlsh means for the movement of produce. and,
perhaps, tend to beget more confidence IN the
| commercial centres of the country. The follow
ing Banks we're represented at the meeting: Bank
| Of New York, Manhattan Bank Merchants Bank,
Mechanics Bank, URion Bark PEAK fS Bank .n
| New YORK, Bank of the Republic. american Ex-
change Bank, METROPOLITAN Bank, Shoe and Leath-
or Bank, Continental Bank. AMI Park Bank.
| The annual report of the Baltimore and OHIO
Railroad, to the 3lst of se ptemher: is pu pushed
| increased S3r3 584 80. the working expenses de-
! creased sos 3s2 % maSlng an increase Of net
Main Stem were So s22 2 2 "a Of the Washing ION
| Branch S462 $50 Al, of the PaIkersburg Branch
earnings, for the road and its branches of 81 664-
2S5 30. and Total Increase a. as compared with the
Of the a Sem Al s. shs
InEton Branch 371s and of the Parkershurg Branch
72a per Gent. Notwithstanding the large, per
centage of woI king expenses on the Parkersburg
| Branch, by it's improved condition and the greater
economy IN working 1t, the advances Of the Com
pany have been reduced $50 III 04 rs compared
pared with 1855 After ali dedactlons- oud ns
dividend So oss o60 and the entire lntsress &C
| crued thereon S545,9 $50 80 it is stated that the
profit and loss account presents surplus of So,
74l. l46 So Since the final settlement Of the SUITS
upon the extra dividend question the Board mas
pad in full the entire amount of accrued interest
| SPRINesIsLD, ILL.,, Nov l9-The Bank Comms
soners been in session here for several day
| and have issued a call upon twenty two banks IN
varying from three to elgGt per cent. of their or
| culaiIon, to be paid within thirty Ave days The
tanned that the banks embraced in the call will
| promptly ,espond. The circulation OF the other
| banks of the State, numbering nearly one hun
bred, is amply secured
| The Baltimore Americans commercial review
dated Monday, says:
| There is no improvement in the general condl
active de 'nd for money. at the full current rate.
of last week; but, at the same time there no ad-
d,tn nal pressure experienced by borrowers =
| While the future remains IL position of much
doubt and uncertainty, no one can expect to see
| any radical Improvement at the same Time, we re-
| mark nothing Partaktng OF uneaslnets among ouI
| merchants. and unless the pending agItations
| still further disturb and derange commerce no
| rlous dangers are aPprehended; The Banks are
| dlscountng but little to day, although they are
| dong much as they can for their REGULAR Gus
toners. Ii is hardy wor while TO give the Tatel
for paper on the street, as there Is nothing touch
| ed by capitalists except strlolly hrst-class en-
dorsed paper, and but little doing even it'll that
| AL the Corn Exchange We have never seer The
| market so much depressed as Il was TO day There
a good inquiry for lour for export, but in the
present unsettled state of monetary atfas holders
| were not anxious 10 sell, and shippers were not
| generally prepared to tuy Tor cash, whloh were
standing there was nothing done, holders on d
have been willing to accept decline o1 IS cts pei
bb for cash. but even at this reduced rate there
was disposition to operate. Gram was in larger
| supply to day than I has been for some month.
past, and although w heat and Corn Were wanted
for export still shippers seemed disinclIned &c
IN, the market being so unsettled. The oferI2g "a
haax h4ns 81 fstlxr gh.,to
but not one third of this could be sold even 81 a
| decline of 10 cts. for the former, and cts pei
| for both. In other branches of trade We have no
movement TO note save IN Collie, which waa IN
| weeks past, but rates are decidedly lower, viz
full II cent per 10.
The N. Y. Journal of Commerce of Monday al
| ternoon, says:
The money market opened without Improve
ment, and it WAS exceedingly difficult during the
morning hours, TO borrow money at any price -
| Toward meridian there was a call for a general
meeting of Bank officers. and as IT was unders stood
| that proposal would be made to agree upon an
| expansion of sol per cent upon the present line
OF discounts; more hopeful feeling prevailed in
the street. 1t IS argued that there no eg Dor
demand for gold. the Banks can safely lend seven
or eight millions more than they have now under
discount, and that this would at once relieve the
community. Some are for advancing two or thr ee
| millions to the bankers for the purchase of Ex-
change, and others favor the purchase to this es
tent directly by the Banks without the interven-
upon but net in aeason for this edition of our
Foreign E1cdange Is still irregular; produce
b s have sold as low as IS; bankers selling as
low as lQS but first class sterling be bOux mt at
los.
The stock market is unsettled, and pricss are
very much lower for most dsscrl ptions Two or
| three on the list having hen sold largely short
were supported at about Saturdays rates At the
lina6 from last sale at the Board ~; Missouri
6s3I4 Erie 4th mort, 8; Mich. So. I'd mort. 2
La Crosse and Mil: Land Grants /; American E1
sale, on the 9Th lnst..) IL; Caution COMPANY
Del. and Hud; L; Penn. Coal 5; Pacific, Mail
Hudson River Az /; Harlem on old and y on pre-
ferred Mich. central 81; Panama 5; Mich So
q on old stock and go on guaranteed H. Central
Toledo Ia; CHICAGO and Rock island / /; Chicago,
Burlington and Quincy y; Mil and Miss ! !; New
Jersey Centrai2; La Crosse and Mil. q I; Del
Lack and Western6.
The Bank of Sing Sing. which suspended pay
ment. has about 500 coo loaned to three Indlvid-
uas. which II IS unable to call in. It's circulating
notes, amounting to about SOL 0OO, are amply Sc
cured by New York State Stocks at The last re-
tendent $1,000 N. Y. State SIS, and S3I GOO in
New York6 per cent. stocks.
The Philadelphia Ledger of Monday says:
The money market in Philadelphia is unusually
stringent. and rates rule at 7nS per cent on cali,
" tn satisfactory collateral. AS to street rates
for current business paper, we cannot pretend to
eve them, a; ,b we haS not heard Of transaction
baen some little done. The universal answer of
the bill brokers Is, 1t can't be done at any rate
within reason. Indeed. capitalists can hardly be
induced 10 look at street paper. There is a very
hght bus,nes, done at bank, and only to parties
moment Of the discount Nothing Is cone IN s ad
vance, and nothing To pa-tIes to discount their
own notes. The distrust of the future is quite uni
versal among all classes. and yet there have been
comparatively few failures. In this city there
have been BIT five recent failures of any masn-
tude. and nearly or quite all of these were con-
Germs crlpeled in lS56'o7,
Northern Markets IBy TxLEsRArHl