The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-02-02
FINANCIAL iANo coMMERc sAl.

The money market continues dull The amount
OF money seeking employment is in excess Of the
wants Of the brokers and first class houses and
lenders are not willing to buy doubtful paper
Business generally is dull. The losses Of houses in
the Southern trade must be enormous, and they
are OF course purchasing little or nothing. The
importations of dry goods for the year to date do
not vary materially, in amount from those Of the
same periods Of the two past years; but the guam
tty thrown on the market is less than half large
as that marketed in January, 1860. If ir. Nor
rillfs tariff were law, the whole importation would
have to be marketed at once and the losses Of the
importers would be vastly increased.
Very little is doing in foreign exchange. The
leading bankers ask l07 for 90 day bills on London
and $50 for francs. Sight bills on London are of
fcred at 1857. Bankers are very particular in &C.
lecting cotton bills at the South, and generally in
sist on having federal clearance attached to bills
OF ladng when they buy documentary bills.
The stock market continues dull, and prices
were rather lower this morning. An apprehen-
sion still prevails in many circles that the British
holders of American securities will send over
some of their stocks for ssle and, in regard to
some securities, this 40 love the case. But IL
is hard to see why such seeks as those of our
Western railroads should be unfavorably affected
by the present imbroglio- especially as their
earnings are unusually large at the present time.
Treasury notes are largely maintained at their
present price. State stocks are supplied rather
faster than the market can take them, and the
price declined; Tennessees especially were lower
and heavy to-day. Among the railroad shares
those which declined the most were Galena, Mchi-
gan Central, and Chicago, Burlington aud Quincy.
nd pa fall mi
the other speculative shares rather less. This
afternoon the market was inactive, and stocks
closed heavy, the following being the quotations.
United States 5's 1874, 81 a o.; Virginia Gs, Is
q 74A; Tennessees, 60 a 10; Missouri IS, 81
%; Canton, l41s a; Cumberland Coal preferred,
Sac; Pacific Mail, 84s4 q "a; New York Cen
trail, 70 o II; Erie, IS SO; Hudson River, Az
A Harlem 1871 u; Harlem preferred, SO
u; Reading, 44114 ~ Michigan Central, &c
"A; Michigan Southern and Northern Indiana l454
l5 do. guaranteed, s2a4 s314; Panama. il3 a
III; Illinois Central, 70 q 4; Galena and Chi
cage, 7O7S a II; Cleveland and Toledo, 33H "a;
Chicago and Rock Island, SIX "a; Chicago, Bur-
lington and Quincy, 7l1l a Y.
Referring to our statement of two days since
with regard to the establishment Of line of ocean
steamers between Norfolk, Va, and Havre,
France, we understand that negotiations
foot with Commodore Vanderbilt, which, under
proper management, may lead to the establish
ment of the line. The Commodore has ever been
foremost in extending the commerce and shipping
enterprises of the country. 1t would augur well
for the new enterprise if it were established under
his auspices. Much however, must depend on
the course Of political events in Virginia. Capt.
talists cannot be expected to advance money to