The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-04


For the week. ISL, 5e2 100 ss3 457 a7o6, az
Previously reported ,s75 6s.Goa.aSs sSS'l,4ol
Since January L.. s44, 4oi va 0o46o.sl5 SO eses7s
This is an unusually heavy export, considering
that we are exporting no cotton worth mentioning.
II shows that, notwithstanding the course OF the
foreign breadstuas market. Europe taking from us
more grain and -four than we ever sent over before
This movement will efectually tend TO keep ex-
change in our favor and prevent gold going abroad.
The exports from the port of New York for the
calendar year 1861 will, in all probability exceed
In aggregate value the total imports.
The trade in commercial paper continues light.
First class notes are selling at per cent, and
names less highly esteemed at . o u o Is. A
large proportion Of the operators who have hitherto
employed their means in commercial paper, are
how buying Treasury notes. The 6 per cents at
about 9s are the favortes at present. BY and by
The $40 per cents will follow though the brokers
cannot make anything by dealing in them. and arc
not likely 10 bestir themselves actively to place
Them in consequence. The banks paid over the
third instalment of ten per cent this morning.
making altogether $40, 500. 600 paid by them under
the agreement of the 10Th ult. Mr. Cisco received
This morning draft for STOP l0O to be distributed
among the banks in repayment Of tho first public
subscriptions to the national loan. The subscrip-
hone to-day were moderate. People will not sub
scribe largely now until the notes are ready and
books of subscription opened all over the coun-
try The first batch of notes-some $3.50 900,
chiefly hundreds and ifties-will go forward from
here to Washington to be signed on the
9Th inst-next Monday. The delay which
has occurred in preparing these notes is
not creditable to the department or TO the Bank
Note Engraving Company which had the matter in
CHARGE valuable time is being lost, and re ON is
afforded for assertions by traitors, that people
DOT coming forward as they should; whereas the
true difficulty is that the people are ready with
their money but government is not ready with its
uotes. Why, it may be asked, too, does not Mr.
Chase open books Ct subscription throughout the
North? Why wait any longer
Foreign exchange for to-morrow's steamer
closed rather frmer for sterling, but not so strong
tor francs. At the close, bankers asked 1923 q
tor their bills on London; but very excellent bank
ers' bills OIL Paris were offered at S. 1897 a 50.
large number of bear contracts in stocks are
maturing, and stocks are so scarce that the shorts
bid prices up in attempting to effect their delve-
ries Thus the short demand for Galena put the
price up this morning Il per cent and the scarcity
OF New York Central caused an advance of q per
<cent in that security likewise. Sympathy with
these leading speculative stocks led to an improve
ment of "a per cent in Rock Island, u per cent in
Toledo q in Illinois Central, and 4 in guaranteed.
Transactions in all these stocks are limited, with
The exception of Galena, which is being inflated by
spectators with view to assist the negotiation
now pending for obtaining an extension from the
creditors on the mortgage bonds about to mature.
Mai lad tha al
The Northern Light gives rise, as usual, to some
uneasiness. Government securities continue to be
IN fair demand; the new coupon 6s advanced "a
this morning. Nissouris were quite active to-day;
about 100000 Of the bonds changed hands this
morning, the advance Of the day being equal to X
per cent. In Wall street Fremont's proclamation
is regarded as likely to improve the credit Of the
State, tending to emancipation. Virginias
rose "a this morning and Tennessees Z, with
Small business. After the board the market
was steady. In the afternoon it was firm at the
prices of the morning and closed so. The follow
ing were the last quotations of the day:-United
States 6's, 1881, registered, ssss ss1as; United
States G's, 1881, coupon. s9H 80; United States
6s, 1874 1873 so; Virginia 6's, 531 IS; Tennes-
sec 6s, 431 43as; North Carolina SIS, 61% CO;
Missouri 6's, Az AZ Pacific Mail, &c; New
York Central, 1871 1871; Erie, 2411s a %; do.
preferred. AZ 4711a; Hudson River, 1924 o 80;
Harlem, 1917 II; do preferred, 2411s %; Read
ing, IS 351aa; Michigan Central Al a42; Michigan
Southern and Northern Indiana 1871 1917; do.
guaranteed, 291S 29s1; Panama, los 100; rii-
nois Central, 641s a 65; Calena and Chicago, 6624
a 67; Cleveland and Toledo, 1874 2osl.; Chicago
and Rock Island, 4l1s 4l94; Chicago, Burling-
ton and Quincy; '60 6l; Delaware, Lackawana
and Western, 60; Milwaukee and Prairie du Chen,
R4H l4ss44; Illinois Central bonds, rs, 81 9s;
Delaware and Hudson Canal, 81 a say; Pennsy-
vania Coal, 1874 are.
We draw attention to a curious story which will
be found in another column with regard to new
employment for the Vanderbilt, Ocean Queen, Bal
bic or Atlantic.
= Among the many changes brought about by the
present crisis we notice with lively satisfaction
the reform in dry goods credits. The domestic
commission houses began the movement by CON-
bination which fixed six months as the extreme
term Of credit. As matter Of necessity, the
foreign importers had to follow although no COM
bination was entered into. No difficulty has SO
far been experienced, but we hear that few of
Che domestic as well as of the foreign houses are
willing to continue to sell on eight months, es-
pecialy such as are in the cloth business. This is
done with view to get the preference Of the best
houses in the trade. Surely more short.sghted
policy could not be pursued. 1t probably will
occur to these selfish parties that in fact they
guarantee SO much as they sell on eight months to
their more conscientious and careful competitors.
Most fortunately the number Of these eight
months houses is too small to influence the ma.
5ority to follow suit. The auctioneers, we learn,
are at present only selling for cash, but will after
October, probably sell only four months credit,
they give any credit at all. The always shrewd firm
Of A. T. Stewart has at curtailcd il. credits to
country retailers to ninety days, and of course our
either jobbers will follow. The strongest and most
substantial Of these houses have all expressed then
hesire to credits shortened and considering all
these facts, we may safely predict most healthy
effect on the trade in general The idea that eight
months are wanted to distribute dry goods il alb.
surd, as times are it before the country was
crossed in every direction by telepaphs and rail-
roads, and before steamers ran On almost every
river or lake. The yerv fact that the dry .oo5s