The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-28
NEW YORK HERALD WEDNESDAY, AUGUST g. 1861

about million dollars worth was wheat, -four and
corn shipped in the proportion of about two-th'rds
to Gseat Britain and Ireland and one-third 10
Nrsace From the letters OF European merchants
there Ia every reason to look for steady continu
ance of the foreign demand for these articles OF
food We note shipment last week to Engleiid
Of sI37 900 wcrth of tobacco. The profit made by
some of tho old houses here which bought up all
the tobacco in market in anticipation OF the block
ade must be very large indeed.
The money market continues very dull; there is
nothing doing in paper. The brokers continue to
borrow all the money they need at 4 q 8 per cent
per annum. The amount of money loaned out
call by of our large financial institutions is
unusually large; we notice. for instance, that the
United States Trust Company has s., 1858, 564 en-
ployed in this way. Surely it would be more
profitable, well more patriotic, to employ ut
least part of this enormous sum in the purchase
of Treasury notes. The banks paid in to-day by
one p. n. the second ten per cent of their recent
loan to government. SO far as we can gather pub
c sentiment, yesterdays statement seems to be
regarded as favorable.
Foreign exchange is dull, and not as firm as it
was yesterday. Bankers sell with difficulty at
l07Na "a. They are buying mercantile bills from
1867 to 1917. Francs range from 527% q 5.35'
with dull market.
The stock market is quite inactive, and prices
are generally lower, State stocks were active
this morning; Tennessees declined 1s Missouris
a, Georgias l. and Louisianas "a. North Caro-
linas were steady at the recent decline. Govern
ments were moderately active; the new skies (of
both kinds) were in request at 1s advance over
nrire cent
Treasury notes were hkwise higher. The demand
for government fves seems to have slackened
New York Central declined Il at the first board
Galena "a, Rock Island a; other descriptions
were dull, without change in price. Neither bulls
nor bears operating with any vigor. Between
the boards little or nothing was DONE At tho
second board the market was dull and prices were
generally lower. The following were the last prices
If the day:-bnited States 6's, registered, 1881,
SEA "a; do. 6's, coupon, 1881, s7I6 49,; do. 5's
1874, 1871 70; Indiana SIS, rs ~; Virginia 6's,
81 5l1s; Tennessee 6's, 422 "a; Missouri 6's,
AZ "a; Pacific Mail Steamship, 7251 a a; New
York Central, 1917 u; Erie, 24A rs; Hudson
River, 3214 a "a; Harlem, lOA 1917; do. pre-
ferred, 24'4 Is; Reading, 34.a4 $50; Michigan
Central, 4lN az; Michigan Southern and Northern
Indiana, 1874 "A; do. guaranteed 1874 29A;
Panama, los 1854; Illinois Central, 641S a;
Galena and Chicago, 65 q "a; Cleveland and To-
ledo, 1914 ~ Chicago and Rock Island 4014
i0%; Chicago, Burlington and Quincy, 59I 60l;
Delaware, Lackawana and Western, 97A 975G.
The exchanges at the Bank Clearing House this
morning were $l2.592,7l9 SO, and the balances
81, 070,773 40.
A committee Of bank presidents representing
the New York banks, consisting of Mr.. Stevens, of
the Commerce.; Mr. Coe, Of the American Ex-
change; Mr.. Williams, of the Metropolitan; Mr..
Jones, of the Chemical, and Mr.. Taylor, of the City
Bank, have gone to Washington, with the view, it
is said, of urging vigorous prosecution of the war
A committee of Boston bankers has been there for
week with the same purpose.
We understand the Attorney General Of the
United States has just decided that the new loan
| is not property which can be taxed by State or
| local authorities.
The Boston Post of yesterday says
The Boston banks paying in their deposits of
f0pe cent $2I0 the amount awarded to banks of
bic TO take the whole awarded to them, but other
nlniss stand ready to make up the deficiency As to
os,on, the ten millions taken by the banks be dis
gibutcd in week by the eSerton Of bank ind lcp~ upon
apitafs "nd anwdine proper opportunities for people
moderate means To subscribe.
The Philadelphia Ledger of yesterday says
The Philadelphia banks will, probably, a day two,
ssue circular declaring that subscriptions be made
With addressed to o the city banks in the As
ISOLATED nogotiaton with whom the applicant may be
acquainted have money dealings, incosrg f from the
ountry) che of the assocatcd banks and
by return mail the evidence of the deposit will be forward
cd and the treasury notes procured from Washington,
without risk trouble to the bscrber, and he'd here
ubcct to the return of the certificate Of deposit.
The weekly statement of the Philadelphia banks,
made up Monday afternoon, presents the following
aggregates, as compared with those of the previous
week.
AUGUST 49, August 49,
tapi.a stock ... $i1 ST. $50 IL $40 $50