The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-07-25
FINANCIAL AND COMMERCIAL.
WEDNESDAY, July 24-6 p. NJ.

WEDNESDAY, july S4-o r. NJ.
The money market is very quiet. Brokers are
borrowing all they need at a s per cent on suit
able collateral first class short acceptances 60 at
~, and paper less generally popular from per
cent month upwards. No effort was made to-day
70 press the new government loan on the market.
The Sub Treasury contains all the money that is
needed at present; the Sub Treasurer deems it best
to wait until confidence returns before offering his
Treasury notes. In the meantime bids for over
half million were sent into the SubTrcasury to-
day. partly from banks and partly from individuals.
We presume that the Sub-Treasurer can close up
the matter whenever he pleases, and dispose OF The
whole IS 600 0O0 But it is doubtless best for the
government credit that 10 effort should be male,
and that time should be given to capital to
recover its equanimity after the shock it encoun.
/ tered on Monday last A good deal of curiosity
| is felt with regard to Mr.. Chase's future policy
with regard to money. In what shape will his
next loan make its appearance? Will he offer Irea-
sury notes or seven per centsS Our money market
will not its ordinary aspect til these queries
ere answered. Very many-probably tho bulk Of
our moneyed men-are keeping their funds in bank
10 anticipation of Mr. Chases appeal. They are
mot buying paper, and are even avoiding the 30.
vernmcnt sixty day Treasury notes, because they
fancy that more favorable opportunities for invest
nent will offer when Mr. Chase begins to avail
himself of the provisions Of the act Of Congress
Would it not be good policy to put an end TO the
suspense Of these parties, and to let the public
know what policy will be pursued by the Treasury
Department in regard to the borrowing Of money?
y Nothing was done to-day in foreign exchange, as
the steamer sailed to-day from Boston The mar.
ket promises from present appearances, to open
very dull indeed for Saturdays steamers. tx.
change has reached point which leaves no pg oft
on importations of gold from Europe; hence bank
srs have object in buying, especially in view OF
the extremely light demand which exists for their
own bills.
The stock market opened buoyantly this morn.
ing, especially on the railway share list. The re.
action from the panic of Monday seems to be So in.
ing ground hourly. better feeling prevails in
mercantile circles, and people who forty is,ht
hours since thought everything was lost now make
light of our disaster, and give evidence Of the sim
cerity of their belief in the future by buying srecu
lative stocks. At the first board to-day Rock Island
advanced IA per cent, Toledo 2. Gaena "a, Iii.
nois Central lss. guaranteed T. Michigan Central
;, Reading n, Harlem preferred l a, Hudson 4,
Erie TX New York Central /, and Pacific Mail a.
After this remarkable advance a reaction took
place, and prices gave way fraction. the market
at the close of the first board being quoted weak
aud Central being offered in the street at conces-
sion Of "a "a from the highest prices Of the morn.
ing. Federal and State stocks. though better than
yesterday, were not as buoyant as the railway
shares. The government registered SKIES of 1881
advanced % per cent, and the coupon sizes q; the
nves of 1874 advanced per cent. Among the
State stocks Missours were the most active; large
lot came on the market, and was taken at :. per
cent advance over yesterdays price. North Caro-
4 iinas rose |, virginias 4 and Tennessces a. The
affair at Bulls run will probably lead to fresh
Issues Of stock by the rebel States their authori
ties will naturally conclude that their prospects
brighter than they were, and their people will be
more willing TO accept State bonds in lieu OF money
The meeting Of the Missouri Convention and he
probable reorganization of the government Of that
State under Union auspices impart new value to
Missouri skies. Between the boards to-day the
market was inactive and quotations were rather
lower. At the second board stocks all fell Of s
pecially the Western shares, which declined from
three .fourths to one Per cent. The market
closed dull the following being the closing.
guotations:--Unted States Ga registered, 1881,
ISL a sSL: United States 6s, coupon 1881, ssl%a
ss3. United States SIS, 1874. SO a 81; Indiana
SIS. 76 IS; Virginia Gs. 40 491a; Tennessee
So, 4954 49, North Carolina SIS, 50 a Co.
Missouri 6's, '2ssx 42;s; Pacific Mall 73 1914
New York Central, 7eas a 76Hs; Erie, asa 1914
Hudson Eiver. $50 3594; Harlem. ~ a ia;
Do. preferred, % ia; Reading, 36A SG1s;
Michigan Central, 1917 Az; Michigan Southern
and Northern Indiana Az li1ss; do. guaranteed,
80 3O1s Panama, 100 Ito; Illinois Central,
s4s. IS; Galena and Chicago, 6311& 63a4; CIcve.
land and Toledo, 1874 20; Chicago and Rock Is
land, Az 42ls Chicago, Burlington and Quincy,
60 a 81; Delaware, Lackawana and Western, TO-:
Milwaukee and Prairie du Chen, 14994 l59.; Iii
nois Central bonds, rs. 90H 81; Delaware and
Hudson Canal, IS a Sc; Pennsylvania Coal, 1917.
Tbe HoEe Insurance Company has declared a
dividend Of Eve per cent, payable on demand; the