The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-07-11
FINANCIAL AND CONNER GAL.


FINANCIAL AND COMMERCIAL.
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WEDNESDAY,, July 1o-S P. N.
There h nothing new in the money market. Tne
loan Of s6 O0O, 900 BY the banks 70 government Is
sgood operation by both parties, and VIII mpart
some little activity TO the market. The money
will be paid out to the three months volunteers
ana win Hud its way back into bank in the course
Of very few days By this means, and in the
same course the forty.Ave or fifty millions OF
specie which our banks hold WI enable them to
take all the loans which the government needs;
the money, being oil dsbursed within the coun.
try. will find its way back into bank % fast az II
Is paid out by government, and will be ready TO
be loaned out again. The banks will be galners
BY tho operation, as they will find employment
for their means In season Of general stagnation,
and the government win obtain all the money II
requires at a reasonable rate, and In adequate
amounts. .~sap-sksseT.aS 1a1rzHk
Nothing was done In exchange day.
Stocks were better to-day, partly on the scar
city Of cash stock, and partly on o general idea
that matters are tending towards settlement OF
our national troubles. We can discover nothing
which warrants the latter impression. No single
fact has come to light which indicates desire on
the part of the rebels to yield until they have been
soundly beaten. And certainly there Ia no ten
depcy tow ards compromise in the Message Of Mr..
Lifcon Still the street felt more confident and
more buoyant to-day, end prices rose accordingly.
Tue new government sizes were held st an I'D.
vance ofs9s, Tennssssss rose ~, Missouiis q,
yirgiaias and North Csroinas being steady at she
adv ance of last evening. There was not much
business done in the railway shares. The most
active were GaIens, Toledo, New York Central and
Illinois, all Of which were rendered scarce and
dear by the calling in Of some buyers options
Gslena rose per cent, Toledo /, Illinois
Il and New York Central a. We note likewise
an advances of "a i'll Erie, in Hudson, "a In Rock
Island and "a in Readipg. The market after the
board was quite firm At the second board stocks
we're q fraction lower. The market closed steady,
the following being the las. quotatious:-United
States 6's, reei tered, 1884, s7s4 SO; United
8 a.es 6's, coupon, 1881, So ss14; United States
Sc, 1874, SO a ST. Indiana Sc, &c n; Virginia
6's, AZ 4sl4; Tennessee &c, AZ 42H; North
Carolina 6s, 63% q "a; Missouri 6s, 4l1s AN;
Pacific Mail, 7011S 70s4; New York Central, 7AA
a7lJx; Erie, % a 2314 Hudgon River, 33I "a;
Harlem, 9yS 10; do. preferred, 2s1l 2411I Read
iDg, SO 361s; Michigan Central, Al a 441l, Mich
gau Southern and Northern Indiana, l31 a l31HI;
do guaranteed 27A a2s; Panama, 1887 100;
Illinois Central, 6Gs+ Q 81; Galens and Chicago,
64Is G4sS; Cleveland and Toledo, 26e4 2s14;
Chicago and Rock Island, s5a4 a SO; Chicago,
Burlington and Quincy, 81 SO; Delaware, i.acha-
waua and Western, "a n; Milwaukee and Praire
du OheD, l4a l4s4 Illinois Central bonds, ss, s9H
. 80; Delaware and Hudson Canal, So q s2Xs.
We have received the following oommunEca-
ton
10 TIE EDITOR OF TEE HBRALD.
Iowa HosDs
Certain gosc citizens If Iowa dispessed with the
ouyps Of The HssAD the snbect Of Iowa bonds They
taie pains 10 and quote iaoRe from Ih0s
In 1858 tho snpreme uoart Of Iowa held that county
hac The constitutional Iht 10 aid IN bulldog railroad
TsSrosd. ip 1915 ,hs Gersral Assembly provaei sec
- that Whenever railroad should have received topde
d cry or county upon stock spbssiptiOn, tbey rae
sw resictrr Judges and ohe. cscrs ~ 10 tbe j.sus
such bonds 2hys ps fan yfr. 2,
E ssn :: % os6sT F:5s. si S sSsIy
for railroads hsd been denied and the feeniop would bs
ashe ed 10 The bona Gde lder mut be pfotsotea IN
1858 the Supreme Court adhered 10 the same decision,
iha enbec would mo- agsip he discussed After
time he crsaoa Of indebtedness bccame % alarming,
and ,ensencJ repudae decided that in The Der
constitution oause inserted to 'gaze the amounts
Ia 1855 The supeme pourl Of Iowa held that sscn 1A
70 apply w railroads., and tk.t when pJnnctions
agans be issue O! bcnos TOOK pa:e oe'ofe the boods
cbed the hands Of bd de hoders the Issue could be
epjohed. The Cort--some e,n-hed that where oones
hAA Used INTO the bands Of bona ads holders they were
vsia Az bindDg Thus, Eli 1869, the Legislature aid
courts Of iowa upheld the bends long Rs u suited
Hox noa9 In 1851 tie courts and the federal court
In Iowa Ieytsed ali former decisions The United States
Judge DECIDES, IN direct opposition to the United satee
Supreme Court decisions In quits Of Boadfoiders va.
KnoA n Co, Indann and Pittsourg city. The lae
Decisions are judicial Reputation Of ON
irsc~ in the face Of prior judioia, consumption
~ ,ane and similar contracts by the highest hiSun4
IN Iuntry. Now ask N--wten Supreme Court
has years cotfmed Issues Of boLds, and whsI the
Unaed sa'os Sup emo Court rrles that suca issues II
bspa I'D bnder hands are GOOD, aud thar the debtor
poao hs own fault and neglect 10 extenpaton o.
tbs deb.nSder these ciroqpstsucfs. future copr cff
: "sss, ~ L ' q: e. s.S s a ya &c
.... jaaic4ry anordS rs security, And va cAgnes
inst elective Safe government cav or viii fgoTd
he,er secarity IL ihe atmosphere OF fows "a oIor
:: as 's' bs rS wbs
have we tba. pibs opinion VIA not force the state so
shotss soouer or later, TO Iepud ae TIE lrp9eed ar
Nm ., The people, il keSomes high tins ~ s6e credo-
or npasef editor TO inc tire coselA INTO the sn,ece
snts o. bis P.ofes;d scst@ xbs sie the sntece en,s
L.,' Vuscainise, surIip rton, &c. answer
0SE OF rHE BITTEN oNSs.
The business of the Sub-Treasury was as fol
lows to-aay:--
For casso;ns az evv w
~ penss ...,...........--'. sgess ~ ~
B.lauee. ..:........,..... ssel Fs6 o.
The excl anses al the Bank Clearing Rouse this
morning were e,3Sl Sc, and tl,e balances
81 .07n ,h97 Is.
The Fulton Fire 'DsuraBce Company has de-
clared semi aunnal dividend Of seven per cent,
payable oD he i2th instant; the Columbia Fire
~.