The New York herald., 1862-08-15
FINANCIAL AND COMMERCIAL
THURSDAY, August LIE p. NJ.

THURSDAY, August l1-6 p. NJ.
We can report nothing new OF the money mar
ket. Money is offered everywhere TO the estab-
lshed houses at per cent, and many loans are
effected at 3. First class paper sells at a 5 per
cent; certificates Of public Indebtedness at 9914.
Demand notes, in sympathy with gold, have risen
to l07 a 4. The deposits at per cent at the Sub.
Treasury to-day amounted TO $780, 900.
We are witnessing one of the most curious Of the
many curious turns which the gold and exchange
markets have taken during the past six months.
Gold advanced today 10 lie. closing al 1885, bid
and bankers bills were sold at l2S, and held nj
l2s%. No one seems to understand why gold and
exchange should advance at this particular time
The demand for export is light the supply from
California liberal. and the bank reserve on the in
crease. The political and military news is not
calculated To cause people 10 hoard through want
of confidence. On the contrary the activity ofre-
crutiDg and tbc increased efficiency of military
management encourage the belief that the end OF
the rebellion cannot he far distant and that within
year in all probability peace viii be rc-established
throughout the country. This is the general ex-
pectaton and belief in mercantile aud financial
circles, aud II j. therefore pretty safe to assume
that the merchants are not boarding. With regard
to our foreign trade we never exported as much
as We are now sending out, and our imports are
declining steadily. aud must decline still further
II Is generally understood that most of the large
importing houses took the alarm when ex.
change rose above l20, month since and re-
mtted ahead, 80 that the advance in bill. cannot
well have been caused by them. Considering all
the circumstances. this last advance In gold and
bills is extremely singular and must in oil proba-
bility, bo ascribed TO the operations Of specuaors
No more stocks are coming from Europe on the
contrary, each steamer now brings orders for
Erie shares and bonds, Illinois Central &c.
The stock market continues to exhibit rcmarka.
bic activity and strength. It was generally ex-
pectcd before the board this morning that The
rapid advance Of the past week would lead to
heavy sales to-day, for the purpose of realizing
profits. But with one exceptou-Eric prefer
red-prces at the first board were either steady ~
yesterday afternoons figures or higher. An ac-
tive inquiry for government skies caused them to
advance u per cent, while the dyes Of 1874 and
the 7.30 notes rose q each. State stocks and
bonds were all in better demand. Missouri skies
rose 2 per cent and Tennessees III there was an
active inquiry for Erie bends. and Northwestern
assentcd bonds rose 4 q aud the second mortgages
"a per cent Tho Western stocks were very ac-
tive. Michigan Central rose u. ruaranteedT, Hi
nois Central q, Cleveland and ptisburg Toledo
u, and Rock Island -. There was no change in
Central, Erie, Hudson. Harlem, Reading or
Galena. At tho close OF tho session some
large operators began to realize profits, and sup.
piled the market very freely with stock, nndcr
the influence Of which Central declined about
Il, Eric "a and other leading shares In proportlon.
The reaction was generally expected, and will
afford spectators an opportunity Of increasing
their line ~ low figures. Sonic persons seemed TO
suppose that General McClellaps movements,
which hayo been pretty generally understood in
Wall street FOR week past had something to DO
With the decline. But, 40 far as we could gather
public sentiment, any movement " hich eStri,ates
the Array Of the Potomac from'its present nae.
live position, and enables Il to prosecute The cam.
pa IN a. gIoroasy began, will b. regarded az
very good nevs indeed The persons who ro' = /,
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