The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-10


which were stolen from the Department Of the H.
terror, and that political effect was sought-as well
rs money-by the parties who seld them. How
ever this may be, they affected the market very
materially at the time, as the impression was pro-
duced that the public were selling their stocks.
Then the United States loan Of $40 OO0 900, which
would have commanded premium Of per
cent in July, was sold at mere fractional pre-
MUM on the 22d Of October. These, and other
similar events, prepared the public mind for the
overwhelming panic which followed the election
Of Lincoln. Early in November last the extraordi-
nary spectacle was presented Of nation abound.
ing In wealth. and with every element Of prosperity
In the fullest play, yet utterly paralyzed and
threatened with imminent ruin from political
causes. The very riches Of the country contribu-
ted to aggravate the alarm. Nothing created
more fright or more temporary Inconvenience
than the fall in foreign exchange, which was pro-
duced as every one now sees, by the excess Of our
exports over our imports. November and Deem
Der were both months of great anxiety and suffer
ing. Treachery in the Cabinet at Washington,
nefarious and well nigh successful attempts by Mr.
Howell Cobb to break down the credit of the
United States, an enormous fall in all kinds Of
merchandise and property, the destruction Of
confidence, and consequently total stoppage Of
private negotiations in mercantile paper. the Inn
possibility of making collections in the South, and
the fears that disunion must involve reputation
sooner or later, the failure Of banks in nearly oil
The Southern States, general arrangement Of
currency in the West, complete stagnation In
business here. Such were the features Of the COM
mercial prospect at the close of last year.
The money market continues to work easily
he rates for the very best short paper being
9per cent, and good paper going at 10 a IL. On
call money is moderately active at q per cent.
There was nothing done in exchange to-day.
Rates are pretty firm.
The stock market showed some strength at one
moment to-day, but prices fell off afterward, and
at the close of the day the market was steady at
the decline. In the present state Of political af.
fairs, with civil war imminent, it needs some bold
ness to purchase stocks at any price. The follow
ing were the last quotations Of the day:-United
States 5's, 1874, 93 q "a; Virginia 6's, 1871 76;
Tennessees, TAX q rs; Missouri 6's, 67a "A; Cam
tom, 14H Is; Cumberland Coal preferred q
TO- Pacific Mail, 81 n; New York Central, 76%
AZ; Erie, SO q a; Hudson River, 45Ha Il; Har-
lem, Is . n; do. preferred, 37A o ~ Reading,
39H . n; Michigan Central, 531 "a; Michigan
Southern and Northern Indiana, IA Ia; do. qua
ranteed, 33H q "a; Panama, ia lis; Illinois
Central, 742s o "a; Galena and Chicago, $50 o "a;
Cleveland and Toledo, 32A e; Chicago and
Rock Island, SO a Il; Chicago, Burlington and
Quincy, &C Aa67.
The business of the Sub Treasury was as follows
to-day
Receipts. 1921 ,s61 o.
n Pasm. customs e SsSSG g
Balance. 3,63S, l0l ~
The exchanges at the Bank Clearing House this
morning were $ls,663,445 SO, and the balances
81 ,O64,376 SO.
The following dividends have been declared
The Fulton Fire Insurance Company, semi annual div
dend Of seven per cent payable on the 10Th instant the
Market Fire Insurance Company, eemi-annua dividend
q three and half per cent, payable on demand the
'Knckerbocker Insurance Company semi annual div-
New World Fire Insurance Company, dividend Of four
Per payable the 18th Instant the Arctic Fire In
Company semiannua dividend OF five cent
payable the l4th instant the Massachusetts, Cotton
Mills, dividend Of four per cent payable on demand
The Boston Traveller Of last evening thus no.
tices the money market of that city,
There to-day further gain Of $2s 100 in the specie
holding the thus increasing the aggregate
70 800 Loans and discounts freely furnished
by the Institutions at six cent The best endorsed
notes and acceptances with from four to- six months
maturties are being negotiated in the open market at
~ per cent Lower grades and loose colaterals, Of
course, have to submit to higher rates Of interest,"
cording to the circumstances names, dates securities
and amounts. Business is dull, and very little new
paper II D6Wg Haue Some Vi Inc AM ~ uhnhs NAV
ready come into the street to solicit offerings TO absorb
the surplus capital not required by their regular GUS
toners
On Saturday evening exchange had fallen to
three per cent at Chicago.
The Cincinnati Gazette of Monday SAYS
The market for New York exchange opened at lower
napres the buying side, say par y premium, but
under good country and fair local demand, rates
stened towards the Close and in the afternoon there
buyers at u premium. We quote par y pre-
MUM the whole range. Bankers checks were uni
form at premium.
Governor Dennison, ofOhio, In his inaugural mes
sage gives the following statistics Of the financial
condition of the State, November Is, 1906
Foreign Deli Of the State.
per cents due In 1850. OBSERVATION-DISCLOSURES. $6,4l3y3Zo
per cents due In 1870. 21S3,o31
per cents due In 1875. 1,60OW0
-. ..ct, d,o IN 1894 OO0