The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-24
FINANCIAL AND COMMERCIAL.
WEDNESDAY, Oct. 23-eP. M.

The money market is easier to-day. Loans at
per cent on call are being paid off; the supply Of
money at was in of the wants of the street
at the close Of bank hours. Good paper is still
wanted at the discount houses at G a 7 per cent.
The stock of second rate paper which encountered
the marketa few months ago has pretty well run
out. The popular subscriptions to the loan con-
tinue fair, though it is difficult to ascertain the
aggregate amounts subscribed, where there
are SO many receivers of subscriptions. This
morning the banks were reimbursed half million
by Mr.. Cisco, and at the same time, in view of
some heavy drafts which are advised, call was
made upon them for the remaining ten per cent due
upon the first $35 900 900. The $500 900 will be
paid in tomorrow. When this il done the banks
will have paid $35 100000 into the Sub-Treasury
under the arrangement Of August 10, and will have
supplied gold in large quantities to Washing
ton, Cincinnati, St. Louis and Chicago, with
out losing S. 100000 in coin. It is under
stood that the public have already relieved
them Of one-half their advance, though barely
month has elapsed since the first Treasury notes
were ready for distribution. Each day will now
| naturally increase the absorption of Treasury
| notes. The first victory won by the United States
armies will give an impulse to subscriptions and
limited in amount, to respectable figures. The banks
begin their payments account Of the second $35
| 100000 loan with specie reserve of something
like $45 900 ,0c0, and with the foreign exchanges
ruling at points which prevent the export and
insure the import of specie from Europe. They do
so, with commerce reviying on every side, on
basis adapted to the circumstances in which
the country is placed, with vast demand for our
re abr nd fiyaIu
ton of foreign goods at home. Under such cir
cumstances, they may well be congratulated on
the operation which they are making.
The market continues unsettled pending the
general expectation of decisive battle. This
morning rumors were prevalent of some dis
aster to General Banks, and the bears put out
their options with freedom; this afternoon
it was CLEANED from the meagre dispatches
published in the newspapers that General
Banks and his army had safely crossed the
Potomac, and that the enemy had not ventured to
attack him, and the market rallied in consequence,
closing steady. Governments were firm all day;
at the close an advance Of "a per cent was estab-
lished in the registered skies. All the State stocks
were higher at the close; Missouris rose Il, Ten
nessees 81, North Carolinas / and Virginias q.
New York Central likewise advanced "A; but the
other railway shares were all "a "a lower than
last evening-the business done being quite mode
rate. All parties seem to be waiting to see the re-
suit of an engagement, or of news from the naval
expedition. The following were the last prices Of
the day:United States G's, registered, 1881, 93sl
o.; do 6's, coupon, 1881, "a a u; do. SIS, 1874
s31a ST. Indiana SIS, 70 a so; Virginia SIS, 46 a
As; Tennessee 6's, 42a4 43; North Carolina 6's
so 60; Missouri 6's, 435s "a; Pacific Mail Steam
ship Co., 9214 %; New York Central, IN a "a;
Erie, 81 "a; do preferred, 81 II; Hudson River,
355 So; Harlem, 1874 q; do. preferred, 81 "A;
Reading, IS o n; Michigan Central 4s11a a q;
Michigan Southern and Northern Indiana, l7Zl a
Is; do. guaranteed, 81 a; Panama, 1l5% ll6%;
Illinois Central, IS n; Galena and Chicago, 69L
7O1S; Cleveland and Toledo, 354 u; Chicago
and Rock Island, 5oT 81; Chicago, Burlington
and Quincy, CT ss; Delaware, Lackawana and
Western, Y; Milwaukee and Prairie du Chen, II a
IA; Illinois Central bonds, rs, $50 80; Delaware
and Hudson Canal, So Sc; Pennsylvania Coal, 76
IS.
The Board Of Brokers. having yesterday directed
the appointment of committee to ascertain what,
if any, members were guilty Of the crime of doing
business cheap in contravention of the rules Of the
Board and the constitution, followed up the move
ment to-day by the appointment Of another CON-
mittce to define the terms broker" and bank
er." These light and agreeable tasks will serve
very OPPORTUNITY to employ the leisure which "A
per cent commissions are calculated to secure
for most members of the Board. From pre-.
sent appearances, indeed it looks as though
the bulk of the regular brokers would soon have
nothing else to do than to oficiate on committees.
The public have SO long been accustomed to get
their business done for an eighth per cent that
they are not likely to be willing to pay quarter
now without some consideration. brokerage Of
"A per cent gives the jobber who has seat in the
Board SO marked an advantage over outside ope.
rators, that it would really seem that in voting for
the new rule, the commission brokers have been
discriminating against their own customers.
| Whether they will find the customers as
| ready to pay as the brokers have been
! to vote, remains to be seen. Anoaher resolu-
| ton, also adopted this morning by the Board,
directed the doorkeeper to keep the Board open
during business hours. The object of this is to de-
prive the "outside brokers" of the monopoly they
now enjoy Of all the business that is done between