The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-01-15

Inc. 162i,5lo 1894 Ss
The movement thus continues steadily from
week to week, the specie increasing and the loans
decreasing. AS the banks received since the
above average was made up fully two millions
from Europe and from California, they must hold
at present nearly $50 900 900 in specie. There il
thus far no falling of in the receipts, and the
West begins to buy goods this spring we shall
begin to receive back the gold we have been send
ing to the Soush. 1t is probable that the country
was never SO rich in specie as il is at present
though the disturbance Of trade at the South and
the suspension of banks are likely to reduce their
stock of gold below the usual average.
The money market is easy. The lowest rates
for mercantile paper are about per cent. with an
occasional exception at Z; fair business is being
done in good paper at IL IL. On call the supply
is large at per cent. The foreign exchange
market opens with great firmness Most Of the
bankers ask LOG for their bills on London-an ad-
vance Of "a per cent since last packet; francs are
quoted from 5.321a to 3z1I. Mercantile exchange
is stronger and scarce.
The stock market opened dull and lower this
morning, there being very few orders to buy;
but at the close of the morning session the necess
prices rallied. In the afternoon the market was
better, closing firm. The II per cent Treasury
notes declined to lA premium this morning. They
are likely to be worth much more than this it, as
Mr.. Dix seems to think, the government will not
require more than the SIS 100000 advertised for
before MarQb A; and we think they can be safely
recommended as an investment Virginia skies de-
clined per cent The Virginia politicians appear
1 % 49,
They ought to discern, clearly enough, that if Vir
ginia seeded from the Union her bonds would
not be worth fifty cents the dollar, and it would
be very difficult indeed for her to pay the interest
on them. Virginia has large debt, and de-
fault in the payment Of the coupons would be
severe blow to all her interests. Men of means
in the Old Dominion should look to it. Very lit
tie business is being done in the speculative rail-
road stocks. Bona fde brokers are not selling,
and stocks are very scarce indeed; SO that, not
withstandng the political disturbances, the bears
are making no money. The closing quotations of
the day were as follows:-yirgnia 6's, IA Il;
Missouri 6's, 67s4 6S; New York Central Rail
road, 775s Il; Erie, 1871 a. q; Hudson River,
4624 Al; Harlem, l5A "a; do. preferred, 81 a
"a; Reading, 3sI 49,; Michigan Central, 52A
60; Michigan Southern and Northern Indiana AZ
"a; do. guaranteed, 33h "A; Panama, lib
49, Illinois Central, IS; Galena and Chicago, 65H
q: Cleveland and Toledo, 32N SO; Chicago
and Rock Island, 84a4 "A; Chicago, Burlington
and Quincy, 6s
most important charge of Judge Smalley, on
he subject Of selling arms to the revolutionary
party, will be found in another column. The
views of the learned Judge were anticipated a
week ago in this column; there can be no ques-
ton but any one who sells arms munitions
OF war to South Carolina or any other seeding
State or State about to secede, lays himself open
to the pains and penalties of treason, and on the
evidence Of two witnesses may be duly hanged
The business Of the Sub Treasury is as follows
to-day
Receipts. $63,411 o.
-for customs ..................,.... oil 600 90
paymehts !ss2io 70
talance .......... 2aos ol0 70
The exchanges at the Bank Clearing House this
morning were s25, 3O5, l3s 40, and the balances
1891 ,962 81.
The Gerhard Fire Insurance Company has de-
clared dividend of three per cent, payable the
18th instant: the Central Railroad of New Jersey q
quarterly dividend of two and half per cent. pay
able on the 18th instant
A bill was read in the Pennsylvania Legislature
on Thursday, providing for resumption of specie
payments by the banks Of the Commonwealth on
the second Monday of February, 1862, and reliev.
ing all institutions with banking privileges from an
penalties incurred by suspension on the 10th Of
November last.
The New Orleans Picayune of the evening Of
the 9th says
To-cays market generally active, and notice
again large movement in cotton The Palestine brings
dates from Liverpool TO the 18th ut but have
received any financial or commercial report The Port
land steamer now fully due, with dates to the 2Sth
The money market s growing stronger aud the dsposi
Some transactions effected in strictly Al
III Il per cent and the latter figure refused for
prime mortgage security Some short paper passed
at IL is per cent. There great abundance Of
poyed money but capitalists In view OF the uncertain
character Of the future, putting out sparingy
few favored descriptions. Within the last few days
about 0to shares Bank Of Louisiana have been taken at
15I 1856 and closing today with sale at 1919 Lou
siana state Bank stock has been sold to the
tent, principally at 16O, but II Is now held higher For
eign exchange again higher to-day. Clear sterling
sold at range OF 100 104 and two favore sigma
lures wero hold above. The amount Offering
was rather limited. Some business was dons
in bill OF ladng drafts at 10i 10li,. Francs likewise
advanced Very prime bills could have been sold nj
81. s6i4 The extreme range is from that to &C. 90
There IL partial inquiry for sixty days New York.
and little sold at the advanced OF az
cent discount. But there general market yet for
time bills. Sight in fair demand at u per cent
discount Bankers sold at s. A. and the banks check
over the counter at x discount.
The receipts Of the Toledo and Wabash Rail
road for the week ending January were as fol-
lows;--