The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-02
1913 ,2IB
sl,1ss,48
6,5e6 62s s62

Increase. se5sHs -
Hsresse siiss,4s3 o,.se 62s 400
The increase OF specie is rather larger than was
tsoked for, and as exchange has fallen again it
seems probable that the lowest point of the specie
reserve has been passed It does not pay TO ship gold
against bills drawn at current rates; hence the ex
BORT cannot be heavy, unless the market should re-
cover, which is no. very likely at present. The
continued reduction OF loans, unaccompanied as 1t
hss been by any severe pressure or any great
want Of money in mercantile circles, must be re-
saAled as healthy indication, and as an evidence
Of increased prudence and sagacity on the part Of
he banks. II is not often that we have to record
an increase Of specie and deposits, and stimuli
taneously decrease Of loans The banks are now
n a stronger and healthier condition than they
have before known for some time.
There is no change in the money market. The
asquietipg rumors which have prevailed for some
SAys past have had the effect of checking the in
garry for single name and long paper, but rates
cannot be quoted higher than they we're. The
market is not over supplied with good paper, and
NJ sooner does ii grow little frmer than fresh
lenders endeavor to avail themselves Of the i'm
proyement, and rates fall again. We quote, this
afternoon, short first class paper, Gl 7per cent;
tinge names, las a Q; long paper, strictly first
class, las; names less generally known, 8 a 10
II. Call loans do not vary much from seven per
cent At the Sub Treasury to-day the receipts were
sll2, sll-of which sol 900 was from customs; the
payments, Sill sos; the balance this evening,
81 ,224 ,639.
The foreign bankers lowered their rates for
sreign bills this morning. The asking prices at
the first class houses for sixty day sterling bills
le9i, and for francs 5.lil. The bullion brokers
-, ,lol for their sight bills, drawn against gold
state OF the market confirms the impression that
the heavy drain Of specie Eastward has ceased for
the season. Comparing the specie shipments for
the year 70 date with that Of the corresponding
yeriod Of last year, Il appears that IN the FIRST
three quarters of lsoo shipped SIS 900 900 less
specie 10 Europe than was shipped in the first
tlrce quarters Of 1859 But "a, during the same
xerlod. we shipped SIS 500,0 600 more produce TO
Earoue than was shipped in the first three quarters
Of 1850 our account with Europe stands in bet.
ter position than II did at this time last year even
independently OF the reduction, this year, in our
importation Of European goods. Much difficulty
snyelops the problem Of the specie movement in
tie future That the Californian and Australian
production OF gold is decreasing there can be no
question. California will not yield this year within
S. 800 900 as much gold yielded in 1859. II,
in 1851 1884, our produce exports should decline
II our cotton crop should fall or there should be no
need Of American food in Europe, the demand
which would arise for specie TO take their place
might, in conjunction with the declining gold crop,
giye rise TO very grave commercial complications.
TIE stock market opened this morning without
much viyacity, but gained strength as the day ad-
yauced. At tie close OF the morning session, and
especially on receipt OF the Glasgow news, ad.
yisinc an Advance in brcadstufs, firm market for
cotton and steady consols, an active demand
sprang up for various OF the speculative sc.
curi,ies, and prices rose quite briskly. At the
afternoon session large business was done, aud
the market closed steady. As usual OF late, Eric
was one Of the most active stocks on the list II
opened al ilA, advanced TO a., and closed a. bid,
against a on saturday. Central was lower al the
opening; at later hour il sold at ~, and closed
al eoi bid. against 20, on Saturday. Har q i'd.
yanccd !, and was active at the advance. Among
the Western shares the most active was Rock
Island this stock has been depressed Of late by
stories relating 70 the dividend which believed
90 have been set in circulation by spectators de.
sroas 81 buying stock cheap; this morning il
was done As low as a. cash, but closed at "a
bid. against ~, at the close on Saturday. The d.
rec,ors are in the city aud ia session; before they
adjourn they will declare the usual fall dividend.
Tie other Western shares were not very active.
State stocks are quiet. without change Of price.
Among the bank shares sold We note two
lots Of Artisans Bank al 20; the last sale was,
We believe. at %. The closing prices Of the day
were Virginia e's, sll i Missouri 6's, Tel I;
Tcnnessees, 90 {; Canton, % !; Cumberland
Coal preferred, lsl . lil: Pacific Mail 81 81;
New York Central, 90 a i; Erie. al I; Hudson
River, g. I; Harlem, 25l {; DO. preferred. 5Sl
Reading, ~ /; Michigan Central, 503 a /; Michi.
gan Southern and Northern Indiana, 2si al: 40.
guaranteed, 90 a I; Panama, l2S l26l; Illinois
Central. s6i 81 GAlens and Chicago. 20 =;
Cleveland and Toledo. "a I; Chicago and Rock
Island, III 4; Chicago, Burlington and Quincy
s9la
The City Chamberlain controversy has gone
through another, and we presume, a last phase.
A.. Plat, has removed the deposits from the Ari
sans Bank. Of which he i President and placed
them In the Park Bank Ills measure will com.
mend iself 10 public approval, and will Do much
toward anay az the uneasness which has been felt
since tho Cts; troabls with nc Artisans Bank. Tho
following IS Mr. Plar's announcement Of the
CuAxErRiss's orls, Arrsavs' BsSx,
Nav ioEN, sept -, 1890
r. HAvs, Fsl. .-sfr-t nave under ny ofnca bonds,
sse-,ci ne Are ssS a. ~ place. q depost u All mo
.sys bc'crgrg 70 the CITY ~ comfy al gew York or
srdeY ny charge Chamber 20 And snar ths date
ard cave dscontnuci al depos = n he Artisans R,nk
ftrust IA change viii % at gaory - yourself ane IN,
yuue. NATHAN = FLAtT, Chamoersn.
The sales al the Mining Board % day were
sco,hs CARD. I'm bio ~ 80 shs siaoesos Ivy. ssi.
ne Newark NrcSy Of this morning learns
,ba. arrangements have been made within the