The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-12
FINANCIAL AND COMMERCIAL.
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WEDNESDAY. Sent.

WEDNESDAY, Sept l1-6 p. M.
The money market is rather more active. Several
banks and bankers are avail'"g themselves of the
decline of the bank specie reserve to put up the
rate of loans to six per cent, and for the present
that must be considered the rate. 1t is not likely
to be maintained when the Sub-Treasury begins to
disbnrse the large amount ofmoney it has on hand.
Exchange closed firmly at 1919 1903 for ster-
ing bills (bankersD and 5.s21l IS for francs.
Stocks were dull, and rather lower to-day, as was
natural after the buoyant market of yesterday and
the day before. There was no increased amount
of stock offered, however, and tie transactions
were limited. The decline on the railway
shares averaged at the first board, "a
per cecss. Rock Island, however, fell off
-, Burlington u, and Prairie du Chen !.
Pacific Mail declined per cent also. In govern
ment stocks there was no essential change; the
per cent Treasury notes are in active demand at
9SA q. Border State stocks improved. Ten
nessees rose 11aa, North Caronas q and Virginias
q. The advance was chiefly due to communica-
ton received from the District Attorney, stating
that that official would like to Know whether in the
opinios Of the Board Southcrners sending their
stocks here for sale or buying State bonds which
come into the market from other sources. AS ii
is well known that the supply Of Southern State
stocks has come from the West and the
demand from the South, it is inferred
that no further steps will be taken to in
terfere with transactions in them. Mr.. Smith
has pursued a sensible course in this matter
At the second board stocks were rather lower and
the market closed weak the following being The last
quotations:-Unted States 6s, registered 1881.
80 soA; do. 6's, coupon, 1881. 902s 9O1l; do.
5's 1874, 79T SO; Virginia 6s, 5411s 551s; Ten.
nessee 6's, AZ 4214; North Carolina 6's, 60 g.;
Missouri 6s, 431 43ss; Pacific Mail, 701a 1881;
New York Central, 1874 1875; Eric, 251s a 25s4;
do. preferred AZ a AS; Hudson River, 335s 1897:
Harlem, lO94 1917; do. preferred, 2511s 2524;
Reading, 35Is Sc; Michigan Central, 43 a 4311a;
Michigan Southern and Northern Indiana, 1872 a
IA; do. guaranteed, 81 3l11aa; Panama, Ill lI2;
Illinois Central, 81 a 675S; GaIena and Chicago,
6s2s 60; Cleveland and Toledo, 3O1S 3Oll; Chi.
cago ana ROCK Island, 442s a 4s1l, nh;..ca Rur-
lington and Quincy, 621a 631s; Delaware, Lacka-
wana and Western, 6s; Milwaukee and Prairie du
Chien, ls14 a 1871; Illinois Central bonds, rs 90
81; Delaware and Hudson Canal, IS q S51%; Penn
sylvapia Coal ~76.
We understand that advices were TO- day received
that the Board of Directors of the Galena Railroad
Company have ratified the bargain lately made by
the President for the extension for twenty wears of
the first mortgage bonds of the road. dividend
of seven per cent is anticipated in January; good
winter business, the President writes, is certain
The banks paid ten per cent of their loan to go.
vernment into the Sub-Treasury this morning.
The popular subscriptions continue satisfactory.
The following was the business of the institution
to-day