The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-28

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Since January L.. $5s 500 $40 Al 500 GOT 1886 sS
The banks win probably show an Increase Q
| = pecie tomorrow. The average shown on Monda
Ia t-s42 ,2s2 ,2S4, increase OF sl,l4S.27s fror
| tn, week proyous-was considerably less tina
| the held that day, as the heaviest disburse
mel its Of the Sub-Treasury took place on Satur
dsy, 10th. 1t is probable that on Monday. 2lst tn
bark held not less than $40 500 900 in COIN Sine
tkcs the Sub Treasury Balance has increased som
1,eeN 900, and hence the bank reserve has dc
odMed- Still the average for the week viii b
very con siderably in excess of that of last week
the amos mt OF coin in me city (banks and Sub
TressuryN being not far from fifty millions. Al th
date last Jeor the banks and Sub Treasury held
SGT ,0O9 900. The course o. foreign exchange
hes for same time rendeIed il profitable to
import gold from Europe. We may expect
q revival OF heavy rcmittancssy to begin per.
hsrs this week. The bank loans are running down,
in consequence OF the popular INSCRIPTIONS TO the
national loan. Last Monday the discount average
published was $l5l S2s Asa decrease of "a, 400.
47s from the week previous: the average of to-
morrow will probably fall below one hundred and
nifty millions, and will decline steadily until the third
fifty millions arc placed to the credit ofgoyernment
Mr. Cisco reimbursed the banks sorae $3.50 900
Yesterday; he las not yet found it necessary to
make any calls upon them on account OF the second
City million loan, the Sub-Treasury balance being
over seven MILLIONS. Advice was received. yester-
day OF some heavy drafts drawn Mt Washington,
which viii probably come to hand tomorrow or
next day. Coin was received here last week
from the country. The tendency of the pre-.
sent course Of financial affairs il to drive
ccin to New York from the interior. II
is. however, highly desirable that the West
should retain at least a portion of the gold
which has been sent thither from this city within
the past few months. Our banks could spare ten
or fifteen millions with ease and advantage. cs-
pecaily as they will receive nearly this amount
from Europe in the course of the next five or six
weeks.
Money has been in fair demand during the past
week at 9 a per cent on call. The advance was
manly due TO the combined efforts of few lead
ing lenders who believed that tho revival of specu-
istlon in stocks afforded a good opportunity for
making up their loans. Yesterday there was A
Perceptible falling oft in tile demand, and the pres.
pect is fair Tor decline in rates during the pre-
sent week. We have always believed that the
government rate would eventually constitute the
standard value Of money during the present war.
1t Is evident, however that a. very different state
OF things must exist in the commercial
world before there can be anything like stringency.
Or even permanent activity, in the money market.
Trade continues, ~ general rule, vcryquiet the
amount of paper that is being made is far too small
to employ the money which is used in, ordinary
times at the discount houses. The banks continue
y afford every facility to their regular dealers
Foreign excbsnge closed steady for vest erday's
mail, on the basis of l07Ha 1919 fer baukers'
bills. and 5.32ls sss+ for bills cif'Pa,is Com
mercai bills are scarce; good bill. were bought
On Friday at ie7 and at 5.3Gi{ documentary bilk
vt "A per cent below those rates. At these prices
profit can be made by bryng hills and sending
hem out to Europe-proceeds to be returned ia
pecae; and consequently fresh arrivals as coin !.
Nc TO be expected almost iuuncdistely. An i'm
'ressaon prevails among inokers that an adv ance i
bi'G may he anticipated. This view Is pr0bubiyA
entertained BY parties who hare been speeulstineN
bills, snd have . large quantity on hsoa Tkei
onditon OF our foreign trade cssAsiniy warrants !,
0 such expectation.
The following table sl$cws the course OF the stock |
rlAf< .s~ -