The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-05
FINANCIAL AND COMMERCIAL
FRIDAY, Oct. 4-G p. \

FRIDAY, Oct. 4-6 p. NJ
The import Of dry goods for the week ending
this day is only s547 ,949, against 81 662 ,6l9
week last year and 81 $50 1862 same week of 1852
This steady decline in our imports explains the
fall in foreign exchange, which to-day is offered
by bankers at 1917 and sold at 1867 107, and
by merchants at 1867 1861. At these rates a
handsome profit can be made by importing gold
from Europe, and before the end of the month
heavy amounts will probably be received. This
war of ours is going to try the strength of the
bankers and merchants of Europe pretty severely.
Money is easy to-day at 7 per cent
the former being the usual rate for call loans
though many brokers borrow all they need at
five-while seven per cent is the general rate
at which first class paper is discounted The
gradual increase of business on the Stock Exchange
Is creating brisker inquiry for money than has
hitherto prevailed.
The disbursement of over a million day by the
general government is at last beginning to produce
the effects which were predicted of it when the
financial policy of the Treasury Department was
first announced. The new paper money-repre-
sentng the wealth and resources and credit and
honor of the people of the United States-is find
ing its way at the rate of million day into the
various channels of circulation, and is causing
general tendency toward expansion, Of which the
first symptoms are already perceptbc on the Stock
Exchange Yesterday we noticed an increased
volume of business and a more hopeful market.
To-day the improvement and the buoyancy were
still more obvious. There is nothing in this which
should cause surprise. The has been before
for some time, and any one who possessed or could
obtain financial experience could ascertain what
the result would be. Nor does it require any par
ticular foresight to perceive that long as the
cause.-the creation of thirty millions of money
per month-continues to operate, the effect must
continue, until point is reached which at present
seems distant enough. All the Western shares
were in demand this morning at an advance of u
e per cent over last evenings closing figures.
Toledo and Galcna, both of which commend them
selves to spectators by the sound state Of their
finances, and the increase o. their traffic were the
most active of this class of securities. The settle
mcnt of the war between the Erie and the Cen
trail has led to orders for these two stocks which
advanced q - per cent at the morning
board in consequence. Pacific Mail was
steady at yesterdays advance; PANAMA. which
seems to have been accidentally put up per cent
yesterday afternoon, fell back | a III. Among
the State stocks Mssouris were the most active
at an advance of -: large amounts Of these bords
are finding their way into the trunks Of capitalists
Missouri will probably emerge from this war free
State, with greater resources than any other
Western State her bonds can now be bought at
rate which yields over Ia per cent per annuin.
Nirgnias and North Carolinas both advanced u.
Government stocks steady but firm at yes
terday's price. After the board the market was
strong, and stocks were very scarce. At the Sc
cond board the market was buoyant, and further
advance of II Il on the prices Of the morning
was realized. A slight reaction took place after
ward, but stocks closed firm at the following quo
tations United States 6's, registered lssl, 9ls4
90; do. 6's coupon, 1881, 9ls a 90; do. is, 1874,
sl94 50; Indiana SIS rs 70; Virginia 6's, 4511s
4t54 Tennessee G's, Ala 424 North Carolina
es, 5s4 50; Missouri G's, 42a4 427s Pa
cic Mail, 9lA a %; New York Central, 1895 "a;
Erie, 2sl Is; do. preferred, 46 a HI Hudson
River, 3411l q; Harlem, 1917 a; do. preferred,
Is a's4 Reading, 351s a So Michigan Central,
43s4 a A. Michigan Southern and Northern In
diana, l41a a q do. guaranteed, 80 a;
Panama, l17% us; Illinois Central, 66A
a q; Galena and Chicago, 7o14 Il; Cleve-
land and Toledo, 317s q 32; Chicago and Rock
Island 472s u Chicago, Burlington and Quin-
cy, G2 a G3 Delaware. Lackawana and Western,
67 GS; Milwaukee and Prairie du Chen, Is Il;
Illinois Central bonds, rs, 81 a "a; Delaware and
Hudson Canal, 81 SIS.
The receipts at the Sub-Treasury to-day on
account of the popular loan quite large, more
SO than for some days past. Some wealthy capital
lists made individual subscriptions to large amounts.
All our rich men ought to subscribe to the extent
of their means, and it would be well for the Sub
Treasurer to permit the press to have the of
the heavy subscribers in order that the public may
know who coming forward in aid of the coun
try at this crisis. There was brisk inquiry for
the United States notes, which are rapidly entering
into general circulation. All, or nearly all, the
banks receive them on deposit as money, ard they
will undoubtedly become the general circulating
medium Of the North in the course of few months
The business Of the Sub-Treasury was as follows
to-day
Total receipts. ,79S 10 10
-rr customs ...'...'....-....-.-..-'.. II ooo W
Treasury notes Observation-Disclosures. 456o0o 90
Payments. i42I s0l 10
Balance. IL GIG 200 80
The exchanges at the Bank Clearing House this
morning were SIT, All ,G29 26, and the balances
| 81 ,537 ,22l 46.
1t is reported that the gross receipts Of the Erie
Railroad in September amount to nearly 500 900,
which is gain OF over $50, 600 on the same month
last year. The net earnings will net be made up
for some time yet
The earnings of the Illinois Central Railroad in
September were $4,000 less than ia September,
1850.
We understand that Mr.. Read, of the firm OF
Read, Drcxel & Co., and Mr.. Hoffman, of Colgate
& Hoffman, have been appointed additional agents
in this city to receive subscriptions for The loans
and win Immediately open lists at their respective
places OF business.
The Cincinnati Gazette of Wednesday says
Currency has worked close again at most OF the bank
ing houses and with some IL has become inconyeneny
close. There has been large demand from the interior
for the purchase OF produce and materials required to I'LL
government contracts The discount market as sight
enng up. This Is attributable to the operations OF
tractors, Tie regular mercantile demand for money
moderate, and this alone would not be suicont to keep
up the Ines bat contractors large borrowers, their
overdue claims amounting in the aggregate 30 5000 900