The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-31
The following was the tpEsiness Of the Sub Urea.
The New Orleans Picayums % Saturday thu


notices money aud exchange matters in that city,
So far money matters Concerned the pact week
has been almost blank Herr and there piece Of short
paper has found buyer at TX per cent per month.
and some long mortgage at II IL, but principally tho
latter Liquidation e ord Of the day and the grsde
Generosity refuse u sell anything tne Hence there
no new paper OF copsequenre mado The banks, finding
comparatively no encouragement ahead pursuing the
same rest ictve o0urso Tho foreign exchange market b
tending steadily upward, and h fully q per above
the quotations in last weekly summary This morn.
ing the rates are stened In consequence Of the d
scarc ~ ' s way o. pssdsoe under tho EXISTING
soned that this may result In temporary scarcity Of
bills Clear sterling was sold at range Of Io6 1907.
and not great deal Offering Drafts with bills OF lding
negotiated at l02H lO4. Francs took jump and
considerable sales elected principally al .
sale was above our inside figure sixty day biil
have been dealt IN largely this week the extent Of per-
class PAPER readily discousabe in Wall street al sac
per cent. leading house sold heavily at az 2, and
round sum-say 500 ooo-wss placed BY another party
tyr outside names. Banks and bankers oheok at u
discount The arrivals Of specie this week reach 81
23S from the North, and $50 ,426 from Havana.
The Philadelphia Bulletin. Of last evening re.
marks MmmN ~Ne..re
The money market remains unchanged, but the Offer
ngs Of first class paper are 50 small TIA. the rates
kind being created, and these mostly absorbed
by the banks Tbere was quite panic this morning
.'run" made the Philadelphia, western National
and other companies The OF the money thus drawn
the deposits these installations The banks are pursuing
very conservative Course and the liberal spirit mani
Tested renewing oogatsns 70 those who are ss,ps
worthy OF commeDdation. IL is announced that tho
coupons the FIRST mortgage bonds OF the PhadepAia
paid ut the Bank OF Commerce.
The Boston Post furnishes the following infor :
nation relative to the Lake Superior copper
In December the Quincy got out lss TONS the Pewabss
chinery stopped for two weeks, and the raising Of
copper TO the surface interrupted BY various
says the M,ing Gazette. 1hs Quincy mill stopped early
in January ana would not run again until February Tho
The Isle Royao has recently increased his force by
third the finding OF rich deposit Of barrel and stamp
copper The prospects described 'imprcvng" but
not weighing up is copper mass Of l3 600 pounds
has been sent from the National 1t is IL 900 pounds
heavier than any previously reported The Columbian
ahas suspended operations" II understand It, the
Isle Royale leaking well but will make no attempt -
get out copper this winter Tho time and cost mainly
FORE kept at lower 6gurc than wo think il can b. an
assessment during the spring is not impossible although
tne mine may DO better than ever The Hancock seems
one point, and in many places is exhibiting rich stamp
stuff and some barrel copper The holders OF the stock
tho Pewsbic Company has made a two years contract
with the Revere Company with regard TO sales and ad
vances the latter take all the produced This
report has increased confidence In stock and made
in good request.
At Chicago, on Saturday evening, according to
the Tribune
Tho exchange took another turn upward the curreot
rate beng six cent premium for currencya rso Of
~ Of cent The demand lessons as the price In
creases but the nconvetbe character of currency
leaves both merchants and city bankers resour
The real fact is that day currency worth only
Sh cents the dollar, for coin will always command
exchange at per cent Tho business public are there
fore ing the uerers OF sour well secured crrency
So per cent for the privilege Of using their promises TO
pay We very much mistake the character OF Legs
ature II they do not deprive few gentlemen Of tho
privilege OF imposing outrageous tax upon tho busi
ness public The buying price Of exchange to day is
~. Gold nominal, buying ~ 6h selling per
cent. Little wanted.