The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-10-12
FINANCIAL AND CONNER GAL

Money is more active to-day, very few loans be-
inc made below six per cent. The street has
rather more stocks than usual to take of just
now. and this causes some running about in search
of money. II has long been evident that the price
paid by the government for money during the pre-
sent war would become its standard value in this
market, and that loans at five q six per cent would
eventually be put up to that point.
Foreign exchange is sitter to-day. We quote
bankers at 1917 q, and francs 5.35. There are
very few commercial bills in markets none that are
first class can be bought under LOT a a for ster-
ling and 5.371l foS francs This sudden recovery
in the market takes the public somewhat by sur
prise and demonstrates the necessity of keeping
watch upon our imports lest they grow heavy
again. At l07s< for bills on London there is hardly
any profit on the importation of gold from Europe.
Gold cannot be exported until exchange rules
at l09ss.
A large amount Of business was done to-day in
stocks, and prices closed generally better than
yesterday. The most encouraging feature of the
day was an advance in the new coupon skies to
93H-the registered selling, yesterday, at 921%.
These skies, all things considered, are probably
the cheapest security on our market. Persons in
want of permanent investment of undoubted Sc
"
nothing more desirable on the stock list, and we
arc not surprised to see them advance steadily at
the rate of II "a per cent day. When they are
in demand at par, there will be chance for other
securities of less substantial character. There
was no change in State stocks to-day, and but few
transactions. The speculative railway shares
struggle vigorously against the reaction, and to-
day Central recovered "a, Erie "A, Teledo "a,
n.I ~ L.: T.
portion. II seems TO be the opinion of the street,
however, that large quantity Of these stocks
have lately passed into weak hands, and would be
likely to come upon the market in the event of any
untoward accident happening to our forces, or
any sharp turn occurring in the money mar
ket The railway earnings for the first week
in October are not as favorable as was expected;
but the bulls have a theory of some kind which
consoles them for the disappointment. At the
second board to-day the market showed more
strength than in the morning, and stocks closed
firm, the following being the last quotations.
United States 6's, registered. 1881, 9211l 92s44;
United States 6's coupon 1881, 931% 9314; United
States SIS, 1874, slT s21s; Indiana SIS, 70 81;
Virginia 6's, AK 471a; Tennessee 6's, 424 q
421ll; North Carolina 6's, COZ 6l Missouri 6's,
43K 431s; Pacific Mail. 81 a 9l111s; New York Cen
trail, 77ss 77s4; Erie, 2sss 297s; do preferred,
AZ q 40; Hudson River, SO S6}s; Harlem, III
M; do. preferred, 2sH1s 2s24; Reading, SO a s6A
Michigan Central, Al Az; Michigan Southern
and Northern Indiana, ia l7ss; do. guaranteed,
S7X q 3711la; Panama. III lls; Illinois Central
6sA $50; Galena and Chicago, 6szs 10; Cleve.
land and Toledo, s614 36ss; Chicago and Rock
Island, 4sN 4s1l; Chicago, Burlington and
Quincy, 63N a 63A; Delaware, Lackawana and
Western, 81 r.; Milwaukee and Prairie du
Chen, 1917 -; Illinois Central bonds, rs
IS 80.
The imports Of dry goods for the week ending
to-day foot up $40, against $l,256,l9s same
week last year, and $l,5ls,460 same week Of
1859. So far as we can learn there is no fear of
any revival Of importations by our dry goods i'm
porters, though it must be expected that the
European manufacturers will continue to send
goods here on consignment to certain extent. A
leading importing house, being taken to task by its
foreign correspondents for reducing its orders,
gave three reasons for its change of policy. 1t
informed its correspondents: first, that the Morrill,
tariff levied prohibitory duties ON most classes of
foreign dry goods secondly, that, Notwithstanding
the tariff, European goods were selling here below
cost and thirdly that even il goods could be sold
at fair price, it (the importing house) would not
know to whom to sell them.
The business Of the Sub Treasury was as follows
to-day
Receipts. 81, 1854 AL 90
tut ouStouiS.. II QUO OO
treasury notes. .................... 1,67597s 90
SaymentS. TIA 503 Sc
Daahce... IL ,l91 lib rs
By the arrival of the Asia this morning we have
European advices to the goth. The funds were
quoted n better. Money was, however, in more
request in London, and the Bank of France
had raised the rate of discount to 511s per cent.
Cotton continued to advance; breadstuffs were
quiet, and, the reporters say, tending downward
The Asia brings sl04 900 in gold. With regard to
American stocks, Messrs. Barring Brothers & Co.
remark
In American stocks have little variation to report
United States 6s Of 1868 quoted so 50; S. - 49,
Massachusetts sterling SIS, 90; Maryland SIS, s. 70
Pennsylvania 6b, stock, 68 TO- bonds, IL Tennessee
6s, 81 Al; Virginia 6's, As So Pennsylvania Central
Railroad bonds, IS 81; New York Central rs 1854 SO a
81 Illinois Central, co. coupons shares, dis Cana
da SIS, 101 New Brunswick 6s 10s 1907 Nova Scotia 6s
10Sk a 100.
The London Times of September q quotes as