The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-11-16

The committee further recommend that the
option now held by The banks of taking the third
fny million Of 7.3) Treasury notes be extended
I'LL January and to this the Secretary of the Trea-
sury agrees. meeting Of the associated BANKS
VIII DC held 10 morrow Saturday at one T.. NJ, 10
take the report of the committee into considera-
ton, aud it il taken FOR granted that it win be
ratified Mr.. Chase viii leave for Washington to-
morrow evening.
Mr.. Chase may be congratulated ON the success
Of his visit. The actual sum which he viii receive
for his six per cents (Which to be dated July
y will be about 9294 per cent, ut which rate the
whole fifty millions will be placed to his credit as
the associated banks have confirmed
the report Of the committee. 1t is usual
in Europe, when large government loans
negotiated, to calculate that the bank or
banker acting as intermediary between the 60
vernment and the public must make 21a per cent
for his pains and risk AS the market price of
United States skies is about "a "a 95, Mr.. Chase
may be said to have sold his fifty millions fully "a
per cent higher than he had any right to expect,
according TO the European rule. In order to make
the customary profit on the transaction, the as
ISOLATED banks must sell their skies not below
95H and this, we presume, will be the premium
rate adopted by them. We are informed that none
of them will colae upon the market at present,
though it is understood that negotiations with par
ties in Europe, which have been pending for some
time, may possibly be revived in connection with
these skies. 1t is the opinion Of several in
telligcnt European houses here that large amount
Of United States skies, having twenty years to
run, might be placed at 95 "A in Paris Frank
fort, and that British capitalists would probably
take some Of them. 1t is probable however, that
nothing viii be done in this matter until further
successes Of the federal arms have demonstrated
to the world the moral certainty that rebellion is
going to be suppressed, and that the government
will come out of the stronger and richer than
ever.
The money market continues dull; call loans
offered Mt six per cent Paper is scarce. Nothing
of Importance TRANSFERRED at the Sub Treasury.
A fair business was done to-day in foreign ex-
change. Sterling bills (bankers') sold at 1857 "a,
and francs at 5.25 a2Ss4. The bankers who have
combined to corner the exchange market and
| put up rates are circulating the story that the
government is in the market buyer of bills. We
have the best authority for stating that there is
| not word Of truth in the report. The Treasury
Department is buying no bills, and has none to
| for the purchases made by the government on the
| other side.
Stocks were active to-day, but the sales to
realize profits exceeded the amount Of purchases
and at the second board slight decline took place
the general list. These reactions are very ma
tural on rising Market and should cause no sur
prise. The market closed dull at the following
quotations. United States 6s, registered, 1854,
s41I; do. 6's, coupon, 1881, s41I s41s; do. SIS,
1874, s5s4 SO; Indiana SIS. IS; Virginia 6's'
| 1874 a4s4; Tennessee 6's, 441I 45H; North Caro-
lima 6's, 60H 60A; Missouri G's 44s4 As; Pacific
| Mail, 97ss a 977s; New York Central s0T 81;
Erie, 34A 34ss; do. preferred, 6o11 COZ; Hudson
River, 40H q 4OA Harlem, 1871 1871; do pre-
ferred, 34H . 34s4; Reading, 1914 36A; Michigan
Central. 63A 1914; Michigan Southern and
Northern Indiana, 1921 1874; do. guaranteed
| 4O1s . 40a; Panama, 100 l2l; Illinois Central,
64 6411; Galena and Chicago, 1871 1915 Cleve
land and Toledo, 37H s7s4; Chicago and Rock
Island, 671I 57A; Chicago, burlington and ouin
cy, 64A 6511a; Delaware, Lackawana and West
ern, = 70; Milwaukee and Prairie du Chen, 22ss4
! q %; Illinois Central bonds, rs, SO 80.
The importation Of dry goods for the week end
ing to-day s434,29s, against 81, PASTA for the
| corresponding week of $780, and $945 ,594 for the
/
imports of foreign dry goods for the period which
has elapsed since January /, as compared with the
corresponding period Of last year. is $50 COO, eco;
in other words, our imports OF dry goods have de-
| cned over fifty per cent. This-not the want Of
! cotton-s the secret Of the annoyance of Great
| Britain and France at the war in this country.
Some talk has been created in commercial cir
cIcs by newspaper paragraphs hnpu.ing to Sena
-.
mence trade with the newly opened port of
Beaufort, S. C. We have no special information
on the subject; but take for granted that Sc
| nator Simmons enjoys no special privileges mo-
| nopolies in the way Of trade, and that where he
! may send ships goods, all the world may do the
game. The prospect Of opening trade with Beau
| fort cannot, however, be described as very pro-
missing just yet at latest dates there was but one
! white inhabitant in the place, and he was not in o
| condition to trade.
| The counterfeters Of the Shoe and Leather Bank
notes executed their work SO well that the Ameri.
can Bank Note Company, who printed the notes
could only distinguish the good from bad with the
aid OF powerful glasses. The counterfeiters were
equally successful in the case of the Prescott Bank
| of Lowell, Mass. and Western Bank, Philadelphia
/ Pa. The two latter banks have obtained new notes
! from the National Bank Note Company, No. l Wall
street (of which Il. S. Oakley is PresidenD, with
their patent cyciod and rosette work tints and pa
| tented special lathe work counters, which work
| has never been counter(eited.
| 1t was rumored in banking circles this morning
| that the Shoe and Leather Bank had lost heavily
| by the counterfeiting Of their 500 notes. We
learn that the loss is only 81 500. The total
| amount of 500 notes in circulation is about
! $50 900, the whole of which has been called in.
The net receipts of the Erie Railway for October
| which will be published by the company in few
days. settleup s7l6 ooo against 1901 GOO in October
last year-an increase Of 1928 600. These earn
| ings exceed by sl05 600 the largest month since
| the road was completed. In October Of the pros
porous year Of 1856 the largest previous amount
| S6l0, 060--was taken.
| The Otis Manufacturing Company has declared a
semi-annual dividend of per cent. The Co
lumbar Manufacturing Company at Mason, N. IL.
| has also declared semi-annual dividend of per
| cent The Mercantile Marine Insurance Company
has declared a semi-annual dividend Of per cent,
| pavahle on demand