The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-18
1881, % es United States s's, coupon. 1881. es

1881, % o3 United States SIS, coupon, 1881, 9s
o.; United States SIS, 1874, SO 81; Virginia 6's,
| ASK AZ; Tennessee 6's, AK 40; North Caro-
lima 6's, 80 a co; Missouri 6's, 43M a.; Pacific
! Mail, 0l24 a 90; New York Central, Tx q tn;
Erie, 3O% 81; Hudson River, 36L a 81; Harlem,
IL l21Ss; do. preferred, 30H sOa4; Reading, 1914
351I; Michigan Central 491S 49ss Michigan
Southern and Northern Indiana Tx l77s; do.
guaranteed, 36a4 81; Panama. lis III; Illinois
Central, &C 661s; Galena and Chicago, 70 7014
Cleveland and Toledo. 3514 351I Chicago and
Rock Island, 4s114 4911; Chicago, Burlington and
Quincy 6214 81; Milwaukee and Prairie du Chen,
ID 49, Illinois Central bonds, rs, SO s9ls; Della
ware and Hudson Canal, Sc sc; Pennsylvania
Coal, 76 a 70. ..ss.a Ath
While Wall street was quakng over visions OF
foreign wars the presidents of our city banks met
at the American Exchange Bank this morning TO
consider the subject of the government loan. The
sense of the meeting was in favor OF taking the
third $50 900 900 loan at once, and OF negotiating
with Mr. Chase for the 500 ,OOo, 900 Of seven per
cent stock which he is authorized to issue at par.
After some conversation, however, it was resolved
to refer the matter to committee, which will re.
port at early day. The following were the reso-
lutions adopted s..tt.ttt
On motion OF Mr. Galia,n Il was unanimously resolved
that committee, consisting Of five pci~ons be appointed
TO consider the expectancy OF taking tho third fifty mil
liens Of the United states 730 per cent Treasury notes
before the time named IN tho original agreement and to
confer with tho committees from Boston and Philadelphia
and with the Secretary Of the Treasury on tins subject
The following gentlemen were then appointed said com
mitice-Mcssrs. James Gaatin George S. Coz, Moses
Taylor, r. w. Howcs, G. p. faverich,
On motion OF Mr., Gaiatin Mr. Stevens was aided to
| the committee to act chairman. Mr.. Gaatin also
offered the following resolution, which was unanimously
Resolved That the committee OF Eve appointed under
the foregoing resolution 10 requested TO confer with the
Boston and Philadelphia banks and tho Secretary OF tho
Treasury In regard to all the stocks still usold author
zed by the act to authorize national ioan, approved
July II, 1861. W
As Mr.. Stewards letter to Governor Morgan has
given rise to unfounded alarm i'll certain quarters
it may be az well to observe that we are shipping
and shall continue to ship until the end Of August
next, to Great Britain ard France, nearly three
millions g bushels of grain weekly, This large
supply from this country is the only guarantee
which the people Of England and France have
against y famine uncxampled during the present
generation; if it were stopped for single month,
hundreds OF thousands OF people would perish of
hunger. Nothing. in fact, stands between Eu-
rope and starvation but its existing peaceful
intercourse with the United States. France
is starving already. Forty-Gye years have elapsed
since the French farmers saw so scant harvest
as that of this year. Nothing but enormous i'm
ports from this country and the infinitely skiliul
management of the French markets by the mpe-
rial government have prevented bread riots
already. months stoppage of the accustomed
supply from this country would lead to a rcvoiu-
ton in France compared with which the MUIR
MRS Of the unemployed workmen at Lyons would
seem preposterously trivial. Nor is England in
any condition TO disturb the commercial relations
now existing between herself and this country.
II is true that she ia suffering severely
less from the want Of cotton than from
the want OF her usual market for cotton goods.
But her suffering would not be diminished, but
vastly increased and rendered intoerable, if, in
addition to reduced demand for labor, she had to
contend with diminished supply of food, such as
would follow any interruption of her relations with
the United States. Wheat Is already a. high as is
convenient in England, considering the wages paid
at Manchester; very small advance would be SC.
vcrely felt. Open trouble with this country would
cause an advance of loo per cent in a few weeks.
These considerations show how futile and ridiculous
it is to apprehend the adoption of IN aggressive
| policy against us by the maritime Powers of
| Europe.
Mr.. Cisco reimbursed the banks 81, 487, 900 this
morning on account Of popular subscriptions to the
7.3O notes, and, to fill the vacuum left by this and
his other recent payments, called upon them for
six per cent of the first SIS 200, 900 loan which
will be paid tomorrow morning. When this has
been paid the government will have drawn from
the banks 50 per cent Of the first $50 900 OOOIoan
leaving Is per cent still undrawn. The popular
subscription continues fair, though the amount of
six per cent notes paid in is out of all due proper
ton. The number of agents appointed for New
York city is too smail-thorc should be fifty at
least. There is no reason why every one who can
procure subscriptions should not be an agent pro.
vded the proper precautions are taken to prevent
losses. The following was the business Of the Sub
Treasury to-day
Receipts .S2yDlo liz u
For customs. ACKNOWLEDGEMENTS. 1000 co
treasury o13ouS w
Payments 1901 Ao55 ~
Balance StJOI, Z4I a.
Less redeemed per cent notes 1872 900 90
The statements of the banks of the three principal
cities Of the Union for the last week compare
with the previous one and t., corresponding time
of 1850 as follows =
N York. Oct II l56ss9l4 l29lssis7 4lso6o6 s73a0oo
Boston oc.la g $500 25ss6Ss LESS S5aSsli
Total s2S2 l6S $50 l7s67s5ll ST. 2s6oi5 l77s2 ass
Last week. 22 7sss5 lGa 10 5s9 gg9ost saoia6