The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-02-20
and meet with universal sympathy in their mi,

fortune
Foreign exchange advanced again to-day. and
closed frnao on the basis of 1867 for bankers
sterling, and 5.37I 40 for francs. This will be
very good news to our friends across the water.
fair business was done at the advance
On the strength of the small decline in
American stocks reported by the Jurs, the lead
ing bear operators hammered the market with
vigor and partial success this morning. The public
took no part in the business Of the day, and sold
no stotS; but the bears contrived to put out some
i short options at decline Of 2 per cent in Erie.
in Illinois Central, in Pacific Mail, in Chicago,
Burlington and Quincy; u in Gaena, q in Toledo.
IA in Reading, ~ in Harlem, u in Hudson, and
u in New York Central. After these sales were
made, no fresh supply of stock coming into the
market, prices stiffened up fraction. and the
sellers of the morning were buyers in the after
noon, at "A a advance. The market closed
firm. United States fves of 1871 advanced per
cent to-day, and Treasury notes Il per cent.
State stocks were rather lower. The following
were the last quotations Of the ay:-United
States SIS Qs74), s6 "a; Virginia 6's. rs 76Hs;
Tennessees, 73 a "a; Missouri 6's, 6414 u; Can
ton, IA; Cumberland Coal preferred, 6H a tx;
Pacific Mail, s3A "a; New York Central, 771s
4; Erie, 3lH 80; Hudson River. 43Id "A; Har-
lem, l51l l6 do. preferred, 1914 "a; Reading,
| 421s q; Michigan Central, 55L q; Michigan
Southern and Northern Indiana, IA n do.
guaranteed, sl14 "a; Panama, ll3 ia; Illinois
Central, 1871 a q; Galena and Chicago. 7lss q;
Cleveland and Toledo, s2h u; Chicago and
Rock Island, STA "a Chicago, Burlington and
Quincy, 1914 all.
From all that we can learn il seems probable that
there will be large number Cf bids for the loan
to be awarded on Saturday. Hitherto, New York
has borne the whole burthen of supporting the 60
vernmeDt in financial point of view. It is re.
ported that other Northern cities will now put in
claims for a share Of the bnrthen, aud that bids
will be forthcoming from Boston, Hartford, New
Haven, Providence, Springfield Albany, Buffalo,
Cleveland. Cincinnati, Chicago, &c. Some heavy
combinations are talked Of here. Nothing is yet
known with regard to the rate at which the loan
will sell.
motion was made this morning on the Stock
Exchange TO adjourn over till tomorrow in order
to afford the members of the board an opportunity
of meeting Mr.. Lincoln; negatiyed by large ma.
jority. It was then proposed to adjourn over the
22d of February, Washington's birthday. This pro-
posal was well received but before vote was
taken, it. was remembered that the New York
Central books open that day. and hence the idea
! was abandoned.
| From the following advertisement in tho
| Charleston Courier we learn that the State Of
| South Carolina is in the market for loan of
| $675, 000:-
| BANK STATE or Sor1U CAROLINA,
| CHARLESTON, Feb. IL, 1861. (
The Legislature having at its last session. authorized
the issue of bonds to the amount Of 1915
interest OF seven per cent the purpose Of providing
he In af
Stunning her rights Of sovereignty this bank is pre-
pared 10 dispose q the bonds They issued in
OF $50, 500 and $780, An opportunity s thus afforded
every c.zen 10 make and prodtab investment,
while contributing aid to the in which the state is
engaged With tho view OF enabling citizens 10 any part
OF The state TO share the loan the clerks OF the
OF the several districts have been required to open books
Of subscription for the stock Suitable arrangements
will be made FOR furnishing bonds the receipt the
money at early day after each subscription has been
made at tho bank or at any Of It's branches proba
BILE that AZ the next session Of the Legislature those par
i stock. G. NJ. FURMAN, President.
| Parties in New York DESTROYS Of subscribing
must therefore apply to the Bank Of the State Of
South Carolina. We are unable to state whether
bids will be received at discount. Nor have we
any means of knowing how much money South
Carolina will need to borrow hereafter. II is under
] stood that between 1000 and 1000 men are under
arms at Charleston; this would involve, according
50 900 900 to 81 600 600 annually. 1t seems likely,
! therefore, that capitalists who are in search of
such desirable investments as South Carolina
| bonds viii have other opportunities besides the
| present one. The last statement Of the South
Carolina banks, By the way, appears to presage
some financial difficulties. Those banks now hold
only 81 1858 ,977 in specie, having lost 81 ,22s, dur
| ing the month of January. Their circulation is
4lnx hal ha,, .lalN
| in the event of run upon them for gold, they
| could not have paid over twenty cents on the
| dollar. The State Bank which offers the above
loan holds only SCI 727 in specie to redeem a cir
culation of 81 47l-say about four cents on the
dollar
W. 7. Hooker, Esq, having resigned the Prcsi-
dency Of the Continental Bank, U. A. Murdoch
was this day elected to fill the place.
The London Times, in the course Of an abusive
article against Mr.. Golden, charges him with i'm
becility for having invested the bulk of the money
given him by the British people in American Sc.
| curities. The Times is not well informed on the
subject. 1t asserts-and IL is generally supposed
| that Mr.. Golden received a national present Of
10000, say $3.50 900, for having initiated and
ried the free trade measures in Great Britain. The
| fact is that this sum was paid to Mr.. Golden
chiefly in stocks Of various kinds, especially rail.
way stocks, which were at the time at extrayaeant
| premiums. It is not probable that the great free
trade leader realized over 100000 in money from
his f70, 900. OF this large portion was invested
unproductiyely in land near Manchester. Nearly
| 100000 were invested in the Illinois Central. In
1857 before the crisis this investment could have
been sold out at handsome profit To realize
it now, in the depressed state Of our
stock market, in consequence Of the condition Of
political affairs, would involve loss Of something
like Is per cent on the original investment. But
in view Of the business Of the Illinois Central, its
cxtrication from debt and the growing popularity
of it, stock as an investment, il Il probable that
by waiting few months Mr.. Golden will be able,
il he chooses to sell out at large advance on his
| original outlay. The endeavors Of the London