The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-08-30
FINANCIAL AND COMMERCIAL


THURSDAY, August z5-o T. M'
Both money and exchange are dull. The de-
mand for six per cent Treasury notes continues
active among parties who have heretofore used
their money in the purchase OF mercantile paper.
The brokers continue abundantly supplied at
per cent Foreign bills arc not abundant, and the
market is quite steady, without much business
doing.
Stocks continue very inactive. There was IA
Their a better feeling in most descriptions TINS
morning, bat prices did not vary much, except in
State stocks. The registered skies Of the govern
ment rose q, Tennessees "a, Virginias 70, North
Carolinas /, Mssours "a, and CALIFORNIA; a. The
rumors with regard to the expedition commanded
by General Butler encourage purchases of North
Carolinas, which would at rise to their old
value in the event Of the success of Union party
there. There was no change in the railway list;
there are no orders to buy stocks, and very
few to sell; the business of the board is mono
polized by few SPECTATORS, who, at this
moment, seem to have very little courage
and not much faith in their opinions. After
the board the market was very quiet there being
NO commission business and very little specula-
ton. There was no change in any stocks at
the second board; the market closed steady, the
following being the last quotatons--United States
6's, Of 1881, registered, s7N o IS; United
States 6's, of 1881, coupon, SO n; Ten
nessee 6's, 43 q; Virginia 6's, 54]4 u;
Missouri 6s, Az e; Pacific Mail, rs "a; New
York Central, 1915 "a Erie, 2434 rs; Hudson
River, 1924 3314; Harlem, lO1a IL; do. preferred
245s rs Reading, So a "a; Michigan Central
Az 4214 Michigan Southern and Northern
Indiana, II 1874 do. guaranteed, 2s1I a 2914 !;
Panama, l04Ha 1861; Illinois Central, G41. G5 J;
Galena and Chicago, 65H IL Cleveland and
Toledo, 2s2+ 2914 {; Chicago and Rock Island, Al
. Is; Chicago, Burlington and Quincy, 591a 90.
The private letters by the Asia are more en-
couragng than for some mails past. Several
houses promise orders for our federal securities,
though the writers do not seem to have anticipated
that Congress would adjourn leaving the hands Of
the Secretary tied as they are. Some Of tie let
ters warn the public against attaching Importance
to the articles in the London Times assailng our
securities they are said to be prompted by mere
spite occasioned by losses incurred in speculatons
in our railway shares. Now that the Bank of Eng
land has reduced the rate of interest to 41I per
cent, money will doubtless become more album
tant in London, and there will be large amount
of capital seeking temporary employment which
cannot but be attracted by the undoubted security
and large income offered by our 7 $40 per cent
Treasury notes. No investment on the London
Stock Exchange can be pronounced safer than these
notes, and none Of the securities which approach
them in solidity pay over q per cent income.
To assa the credit of the United States because
isolated States, years ago, in their infancy repudi
ated or deferred payment of their debts, is about
as reasonable as it would be to question the sol
vency of the Bank of England because one Of the
directors had stopped payment.
The applications for Treasury notes at the Sub.
Treasury to-day numbered 100, and the amount
subscribed for was over s250,000. As people
learn that these notes, besides being safer than
any other security in the country, representing
the whole national credit and resources really
the most profitable investment in the market, and
yield larger income than bonds and mortgages
stocks Of every kind deposits in savings banks,
the subscriptions will naturally increase.
We learn that the negotiation between the go.
vcrnment and the North Atlantic Steamship Com.
pany is less promising than it was yesterday, and
that the prospect of the government owning the
Atlantic and Baltic is slender.
The Asia arrived this morning, with $23 500 in
specie and dates to the 18th. Money was falling
in price, in consequence Of the reduction in the
Bank rate. Consols were 904 u. Cotton
quieter and breadstuffs dull. American stocks
were unchanged, but inactive. The Bank of
England statement shows the following variations,