The sun. [volume] (New York [N.Y.]) 1833-1916, 1862-02-28
+ / N A N C. | A L.
NEW YORK. Thnrad,u. Fnh.

NEW YORK, Thursday, Feb, 2T.
Tho Stock market underwent brisk reaction
this morning. ~ many ~ those who had b,uRh,
wished 70 sell. The consequence WAS general 10
cline, larges, In those stocks which had risen the
most. Amer the board the rates were a little more
steady, but In some cases a further decline waa
manifest, The Government stocks rose In some de-
gree hom au outol-iown demand Tor banks. aud
sl'o Leo ause the inter,s /, o he paid in specie II
specie ri'cs in price it will give advantage 70 the
holders, but not in face of ft0OOCO,OeO n como
y on the msrkct
TierAse Of g IA fell today u ca per cent 70 az,
aud ths decline will carr with il fall in exchange
for the packet of Saturday, the mArks, for which h.
not UT opened. mn
The exchanges a, the Bank Clearing House today
rri 81, i3a J22, snd the balances ~ 1O0,ssp.
Money Is in active demani, AMI per cent call
freely olaained. There Ia, therefore, less de,ire
u place money with the ooyernmsn, Treasury al D
per cent.
The Baton Bank returns sivs tho spooie at
y 3il,5'S a decline Of ,ao2 du,ing the woek.
The per cent. dollar bonds Of the state of AAba.
ma, due Nov. last, will be paid principal and in,e-
rest 1t the PIo'nlx Bank.
The Merchants Bank Of Trent IN, n. j., IL under
protest. The notes are noi nkan.
The wamHi,ta Mills, New Bedford, have declared
| AdiNilend o'sl2 per share.
The exports from the port ~ Boston FOR the past
week were si3T b6l
The new loan bills have attracted much attention
and are producing singular changes In tho cuuen-
cy. The suspension Of the Banks ~ New York and
ether States has hitherto been attended by con-
traction OF this currency, because the Banks were
no, we'll convinced Of the safety OF their position in
Al I..,
New York city Banks were on their guard and paid
their notes in specie a, they were presented This
reduced the amount OF their notes outstanding from
to millions, or $1,000, 600, and currency became
scarce. The moment that the law OF Congress
made GJyenment notes legal tender, the
Banks began ~ receive the Government notes
freely and W hold them, and resumed
the issue OF their own no,esi demand for Gov
ernmont stocks also sprung up a basis on which
~ issue new notes. The currency Is therefore now
IN rapid process o' initiation. The $4,000. 900 Of
demand notoa, issued under the law Of July, 1861,
are now q legal tender aud available for duties.
They have therefore become, all at once, by stroke
Of feather, great favores with the banks. Those
institutions would before not take them on dsposii,
and some sold them at discount OF l-5 per cent.
They now give small premium for them, and pay
out their own notes in preference.
Tue old demand notes As they are collected by tie
Government will b, cancelled as they come IN, aud
| the new notes they are ready, will be
paid out instead Thus under the rule " allow D per
cent. deposits Of deu and notes W the treasury,
4 me Ia5 millions have beea taken. The owners
| when they draw them will get new notDa no,
receivable for duties. The smount Of notes taken
duties In the past four weeks, was AS followst
| r. Feb l..,. $GI2,Gs2 To Feb. 10" Sts?,tl0
| " 500 pG5,s- 2s IO2G Go0
| % Oh aq4 1s