The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-05-20


Stree January L. $40 TOO 3ss 10 40 oas 2,ssS 500
Last Monday the banks showed specie average
equal to SIS sol 45-an increase II S7tT 29i from
the week previous; nj this time last year the banks
held so, 7sO,9s in specie. No material variation
from the last statement is expected tomorrow
Gold continues to fow to the West aud towards the
amy. But tie government IS disbursing pretty
freely in some quarters, and II is probable that
the receipts Of the banks about balance their
payments. The bank loans are in fair way of
being increased before long by fresh issues of
government bonds. Last Monday they were
1923 49, ,295-a decrease CT 81 III sos from tine
previous statement. Since then the applications
al bank by mercantile men have been heavy,
in Consequence OF the want of confidence felt in
tie discount market. But prudent managers of
banking Institutions. hike private capitalists, are
becoming very cirtumspegt IN The selection Of
papti for discount.
The H. pey market has no; varied much since
last week. on call money is very abundant at
q per cent, Bot no paper but the very choicest
namcs, on short acceptsRces goes as low a. per
| cent and really good paper can be bought az !
aud per cent month. The di-gractful requdia
| ton Of Northern debts by Southern merchants,
and Tic arrangement Of the exchanges with the
West, are playing havoc With our iobbers, aud
tlef troubles react in like manner upon The i'm.
porter. Hence moneyed men are ioth, for the
present. TO buy any paper save names beyond all
possibility Of doubt. Many think that confidence
viii soon begin 70 revive in the discount market,
and that We shall nc! witness as many failures as
are expected. Til, Is, q course, deyoutly to be
Gesrcd--thougl how The iobber; arc 10 meet their
MD 81 -
lot easy to discover.
Foreign exchange advanced last week, and
for the Saturday, steamer, leading bankers asked
lools for tier sterling bills Good mercantile
Bills are offered a. los ~. Very little business
is doing either in bankers or merchants bills.
At the present rate of exchange /. Il quite doubt
FIJI whether there is any proG on importaticns Of
bullion from England.
On Friday last Mr., Chase, after consultation
with several representatives Of the financial CON.
muniy Of this city agreed to defer the bidding FOR
the Sa.o0O,O0o lean TN Saturday, if Cur bankers
considered that the delay would prove q gain.
Mr.. Cisco conferred with these gentlemen yester.
day, and they decided hat the opening Of the
awards had better be deferred, and at Che same
tine the nature Of the call 30 modified that bid.
ders could either take stock or Treasury notes as
they pleased. 1hc Advertisement, 10 thia eject
appears in another column Of to days He
RAID. The two advertisements for promo.
sails TOW before the public call FOR nearly
s23 900. We understand that the whole If this
sum Is not needed, aud hat <ll 0oo 600 win carry
Mr. Chase through till July 4, when Congress
meots. Tho prospect is that Treasury notes t. this
amount win be disposed Of before the end Of the
month. Boston, on behalf OF New England, has
bes9oken O. OC0 otO; other interior banks take
sz""OoO-- aving about 1000 600 only 10 be
taken by Now York. No investment promises 20
wen as government securities Of this character.
Treasury notes win become o currency, especial.
~ IN the West where lie existing currency has
fallcn TO 20 or 30 per cent discount. II would be
all tic better Tor the country il VIC had 500 Ooo
0Oo Of Treasury notes, from $50 upwards. aaoat
and serving as q circulating medium Al par every
where.
Another Albany bank The Bank If Inc Capi.
broke yesterday. The note holders ara SC. |
cured. bot the stockholders. ne in tho case Of the
bsnk G Albany, will probably suffer. Neither
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