The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-06-20
Total IL mos.$4S, STA ,72c
Total IL moe $40 3al .461

So far as the balance of trade is concerned, the
years business will compare favorably with that
of previous years; it will be on the right side.
Our export. of domestic prcduce-corD, wheat,
flour, provisions and cotton-have been largely in
excess Of the average: our consumption of fo-
reign goods less than usual. Whether the export of
food and cotton, and the retention of our own and
the importation of foreign specie are unmixed
gains we will not now undertake to discuss. Ger
tain it is that the present condition Of trade,
which, according TO certain school of econo-
mists, is the perfection OF prosperity, is causing
more general distress among our merchants than
was witno ssed in 1857 or in 1881 Our great i'm
porting houses are doing nothing; the weak ones
among them arc already applying to their foreign
correspondents for extensions. Our great jobbing
houses, which have built up tie city of New York,
are, with few exceptions, either insolvent or
embarrassed, those which have sold to the West
being no better off, as general rule, than those
which have sold to the South. Our banks hold
some twenty millions of specie more than usual,
and more is coming from Europe. Yet there
never was time when these same banks
held so much worthless mercantile pa
per, nor was their stock ever less popular
as an investment. Such is the inside condition of
trade which, externally, is represented by i'm
ports of gold from Europe, nominal importa tons
of foreign goods and heavy exports Of agricutu.
raj produce.
, There is no change in money. The few names
which are current pass at a I per cent, accord
ing to the length of the paper. On call money
is abundant at a 6 per cent.
The foreign exchange market for the Australia
sian closed steady without change in rates.
Stocks were again higher to-day, the bulls
having complete control Of the market Central,
which continues to lead the speculative stocks ad
vanced X per cent at the first board, sold at 745s
between the boards, and closed 7494 bid, against
1871 bid a. the close yesterday. The banks and
private bankers are eagerly lending On Central on
very small margin, as the safest employment
they can iind for their money. But the advance
of the past few days is likely to bring good deal
of stock into the market. Everything moved
simultaneously with Central. Hudson advanced
a, Reading Il, Michigan Central q, Illinois "a ,
Gaena "a, Toledo q, Rock Island 70. The move
ment in State stocks continues to be irregular
Missouris, on the news of Gen. Lyons
energetic pursuit and defeat Of the rebels advanced
"a per cent. Virginias fell off a end North Caro-
linas l. The price of these State stocks luctuates
partly in connection with the operations Of the
bulls ard bears on the street, and partly in ODE
dience TO the prospects Of the Union party in the
several States. When dsunion prospers the stocks
fall; when the Union prospects brighten they
rise. Between the boards the market was steady.
In the afternoon everything rather better, and
the market closed firm the following being the
last quotations United States SIS, 1874, 1874
&c; Tennessee 6's, IS 3GI; Virginia 6's 4ON
Al; Missouri 6's, 39la a 39A Canton, 81 a o;
Cumberland Coal preferred, gas Delaware
and Hudson Canala79 So Pennsylvania Coal rs
a IN; Pacific Mail &C G614 New York Central,
7424 747s; Erie, 1915 23%; Hudson River, 33a
33%1a Harlem, ga 10; do. preferred "a a24H;
Reading, 33T 81; Michigan Central, 43ss a432a4;
Michigan Southern and Northern Indiana, llH "a
IL; do. guaranteed d %; Panama, 107 no.
Illinois Central, G611s Gea4 Gslena and Chicago,
6la/ CO; Cleveland and Toledo, 24114 q 24H;