The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-17


Decrease. 50 ,Os7, 7I9 435T.sl5 $780, 1880 1855
So far as the specie column is concerned. ibis is
rather better than was expected Thirty-seven
millions was the utmost many fnanciers ventnred
to expect. IL may turn out, il the drafts OF the
disbursing officers come to hand freely tits week
that this statement viii prove the lowest in point
of specie for some time to come though it is still
far from being as low as it ought to be, the banks
are to earn their usual dividends. The decline in
the deposits and in the loans is about what
pcctcd. The deposits fall off as the SubTreasury
balance increases and the public withdraw their
funds from bank to invest them in Treasury notes.
The So 900 900 lent to government the 10Th OF
August appears in the discount column, but not in
the deposits. Had like sum been lent to private
individuals the increase in the one would have
been balanced by corresponding increase in the
other IA it is, the liabilities Of the banks are di-
minishing more rapidly than their assets
The money market is dull again, the demand
being quiet light, and the supply abundant at 6
per cent on call. When the Sub-Treasury begins
to disburse freely, which will be in day or two,
the rate must fall to again.
Exchange is still firm; some Of the bankers who
arc not anxious to draw AJAX 100 for their bills on
ever. Commercial bills are very scarce, and there
happens Just now to be lively inquiry from parties
holding Southern funds and some demand also
from the coffee merchants.
Stocks are dull, with very little change in price.
Both parties at the board uncertain how 10 act,
and move with caution. There are many operators
who are not believers in the success of the Union
arms; these, of course, sell short steadily. Others
sell Oh the prospect of a tight money market and
some on tho earnings of the railroads. The bulls
seem to be operating on the broad ground that we
are on the of an expansion which must develope
speculation in stocks; hence they not uneasy
about temporary fluctuations in the market,
and simply avail themselves of each small decline
20 increase their lire. The business OF the morn
ing's board was so light tlat it adjourned before
/ noon. The only security in which any busincs-
/ worth mentioning wa lone was Miss
were steady After hr board New YORK
| fell Off Il and the r,grset was dull. 3,
second board very ht,ie hr'incss was doing, ,aa
the bears were more courageous in putting oui
their options. The market closed dull, the following
being the last gu tatoH:-UnitcdS States 6's, regis
tered, 1881, s92z 20 do. 6s, coupon, 1881, 1913 q
90: do SIS, 1874, 1914 a so: Indiana SIS 7S "a 7a
| Virginia 6's. 51% a 81; Tennessee 6's, AZ 431@
North Carolina 6's, so o CO; Missouri 6s, 42T q
1874; Pacific Mail, 81 S1s4; New York Central
72sS a T25s; Erie, Is a 25is; do. preferred
46 a471ss; Hudson River, 80 3324; Harlem
1914 1914; do. preferred, Is o 251a: Reading
S5K 3574 Michigan Central. 4l1a Az; Mich
gan Southern and Northern Indiana, 1871 a 1917
do guaranteed, 20 80; Panama, 10 ll01% Hi
nois Central, s. a 651a; Galena and Chicago
6ss4 50; Cleveland and Toledo, 30 a 2a14; Chi
cago and Rock Island, 421s a 424; Chicag,, Bur
linSton and Quincy, co Ga: Milwaukee an