The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-09-12
F FINANCIAL AND COMMERCIAL.
WEDNESDAY, Sept. l1-6 p. M.

WEDNESDAY, Sept. l1-6 p. M.
The money markets. rather more active. Several
banks and bankers are avail'"g themselves Of the
decline of the bank specie reserve to put up the
rate OF loans to six per cent, and for the present
that must be considered the rate. 1t is not likely
to be maintained when the SubTreasury begins to
disburse the large amount ofmoney it has on hand.
Exchange closed firmly at 1919 10s for ster-
ing bills Cbankers') and 1921 IS for francs.
Stocks were dull, and rather lower to-day, as was
natural after the buoyant market of yesterday and
the day before. There was no increased amount
of stock offered, however, and tie transactions
were limited. The decline on the railway
shares averaged, at the first board, d
per cert. Rock Island, however, fell off
-, Burlington u, and Prairie du Chen 1.
Pacific Mail declined per cent also. In govern
ment stocks there was no essential change; the 6
per cent Treasury notes are in active demand at
9SH e. Border State stocks improved Ten
nessees rose TX North Carolinas T. and vrginias
q. The advance was chiefly due to n communica-
ton received from the District Attorney, stating
that that official would like to know whether, in the
opinion of the Board, Southerners are sending their
stocks here for sale or buying State bonds which
come into the market from other sources. As il
is we'll known that the supply Of Southern State
stocks has come from the West and the
demand from the South, it is inferred
that no further steps will be taken to in
terfere with transactions in them. Mr.. Smith
has pursued sensible course in this matter.
AT the second board stocks were rather lower and
the market closed weak, the following being me last
quotations:-United States G's, registered, 1881,
n Io
SIS, 1874, 1917 so; Virginia 6's, SAX 551l Ten
nessee 6's, AZ 421@; North Carolina SIS, 62 a 63;
Missouri 6's, 1917 43ss; Pacific Mail, 701a 1917;
New York Central, 1874 1879; Eric, 251I a 25944;
do. preferred, Al AS; Hudson River, 335L a 3ssll:
Harlem, l0a4 1917; do. preferred 25% 2534;
Reading, 35S SO; Michigan Central, 43 o 431lss
Michigan Southern and Northern Indiana, 1877 =
IA; do. guaranteed, 81 a 3l11s; Panama, Ill liz;
Illinois Central, 81 n 67ss; Galena and Chicago,
6sT a co. Cleveland and Toledo 3O1S a 30I; Chi.
cage ana ROCK Island, 442s q 4.1k, -nh;..rn R.r.
lington and Quincy, 621aa 631z; Delaware, Lacka-
wana and Western, 6s; Milwaukee and Prairie du
Chien, lsA ls11aa; Illinois Central bonds, rs, 90
81; Delaware and Hudson Canal, So O 651%; Penn
sylvania Coal~76.
We understand that advices were to-day received
that the Board of Directors of the Galena Railroad
Company have ratified the bargain lately made by
the President for the extension for twenty years of
the first mortgage bonds of the road. dividend
of seven per cent is anticipated in January; good
winter business, the President writes, is certain.
The banks paid ten per cent Of their loan to 60
vernment into the Sub-Treasury this morning
The popular subscriptions continue satisfactory
The following was the business of the institution
to-day