The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-10-22

Since January l. $50 ASS $40 90 5l9,5o3 75a3 Ssi
Farorrs or srrou
For the week.. Sol sss 1l SS' COS locsa2e
Previously reported "a All eo6os,7ll IL 2al76
Since January l.. szl ,ss7 ,2a7 1879 si4 4s2o76l5
The feature OF the above tables is the heavy ex-
port of breadstufs, which is Unprecedented On
referring TO the records OF the cereal movement in
the interior, we discover equal activity there Chi.
| cago has received since January about twenty
nine million bushels of grain-fully twice
as much as was received during the
same period Of 1859, and about forty
per cent more than was received during the
sa ne period of 1858. OF corn the receipts foot mp
IA $50 ,905 bushels against 4,42 800 TO date
last year; from all that we can learn, the receipts
| next year will show quite large an in
crease over ls60. Notwithstanding this
enormous supply, prices are maintained, with
Sigh. fluctuations. This is chiefly due TO the
foreign demand. Our latest advices from England
state that they will need there every bushel of
wheat and corn that can be sent them; that their
grain not only deficient in quantity but poor
in quality that il cannot be used without mixing it
with a sounder berry. Allowance must be made,
in listening to these statements for the anxiety of
brokers TO sec the market advance; but still the
actual shipments, and the steadiness of prices
both in Liverpool and Chicago, prove that our
farmers are not going TO suffer sor want Of a mar.
ket. Prices in Chicago are still seven to ten cents
above the point which at the commencement OF
the season. farmers stated would be perfectly salts.
factory TO them.
The last cotton panic which based upon
the recent storm-has subsidized, and prices have
not been much helped by it. Some cotton was,
doubtless, seriously injured, but this apparently
formed but very small proportion indeed of the
whole crop. Every one is looking for the
| killing frost; few days more delay will make
| difference of several thousand bales. Thus far the
receipts are satisfactory, though they are nearly
Is 900 bales behind last year. 1t is likely that. as
1 the season advances and the natural wants of
| trade keep the markets steady, we shall hear
| fewer complaints from the South and higher est.
mates of the crop. Many Of the estimates which
have been published, and which contemplate
heavy decline from last year, seem to have ema-
mated from parties who had the market rather than
the truth at heart.
The movement Of specie during the past week
has been in favor Of the bank average. We re.
ceiyed on Sunday sum of nearly two millions in
specie from California; the only export that will
tell against the average has been the shipment Of
Saturday, 18th, about 81 ZOO, and a sum Of
sl04 600 shipped in the Saxonia Yesterday ship
ment, as usual, will not count against the state
ment TO be made up tomorrow. The Sub. Treasu.
~ has lost trife during the week the balance
standing yesterday at 81 45i ,6t2, against 81 496 ssh
at the close OF last week, and 81 703 $50 at the
corresponding date last year. The last bank ave.
rage of specie was $40 ,273 ,7os an increase of
SIPS $50 from the week previous; at the cores
ponding date last year the banks held $40 07 ,097
in specie. II seems probable that the re-
serve is now rising, and that until the South
removes her deposits from here more freely than
she is doing, it viii continue to rise. The last
loans average of the city banks was sl22 ,s07 ljs,
a decrease of 81 ,030,0l9 from the week previous;
a, the corresponding date last year the banks
had loaned sll7 ,3l1 400. Within the past two
months the banks have reduced their discount line
g. 500 600, mainly in consequence Of the withdrawal
Of deposits by parties concerned in moving the
large crops OF the West. According TO the usual
rule, the process Of contraction ought to cease
within a week or so, and the expansion begin.
But this year the agricultural movement is 80 &C.
tive, both at the North and at the South that the
banks may be unable increase their discounts as
coon usual; judging from the state OF the
money market they need be under no necessity to
DO so.
The week closed on uncommony easy money
market. Rates are, for call loans, per cent; for
FIRST class short acceptances. g. for a 8 months
paper, two names, hishes, grades. 81 q :; single
names, :; names less generally known, q 10 a
l. per cent. At these rates the supply Of money
is rather in excess OF the demand. The leading
houses in the stree, have funds left with them which
Soy cannot use, and al the discount houses the
complaint is that there is very little paper Offering
tbs condition Of the money market Is fortunate
thing for the government which. at noon toner
row, disposes Of ten millions Of the new tive per
cent loan. The deposits on account Of the New
York bids we're all made with the sub. Treasurer at
his point yesterday before for +. ~; but
hat ofccr declines to communicate the
amount applied for on the very proper
ground that a knowledge Of the amount Of
the applications from New York would confer an
unfair advantage on the Washington and Baltimore
bidders who need not make heir bids till the fore
noon Of Monday. The general opinion appears 10
BE that tie bids will considerably exceed the ten
billions 70 be awarded. and that tie awards will
average about one per cent premam. The I've
per cents Of 1874 arc selling al 1925 l0S. with I
per cent interest accrued. allowing per cent for
the a0ube and expense 81 bidding for the new
lean. Il would thus be worth 1908 loi- very alr
rri,e fors short five per cent security. Tie award,
conti,lr AZ DE time Il does, will no, be without pc |
lftical sgni6caacc. If disnuion, or even any /
serious attempt Al disturbance. be really |
aprreherdel by tho moneycd public The |