The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-07-23

present active export movement Of food, especially
10 long bills remain at or near their present high
premium. OF cotton it is yet difficult to predict
anything with confidence. The weekly shipments
from Memphis are now said to average 1000 bales;
we arc receiving here something like $500 bales
week from various sources. 1t would seem that,
with cotton at so cents pound here, and nothing
pound, 80 to speak, on the plantations, it
was safe to count upon at least small
steady supply perhaps enough, now and then, to
furnish few bills. house in this city which
sent Q ship to New Orleans some time ago, heard
on Sunday that, notwithstanding all that has been
said about there being no cotton there, their cap
tain had already secured / 900 bales.
Money is quito easy to-day at per cent. Ger
ti6cates of indebtedness are selling at 81; paper
Q for prime names.
Exchange was duh to-day at about Isl n 1917.
Most of the leading importers have supplied them
selves with bills in advance, and the sale Of Ameri
can stocks for European account having stopped,
for the present. the inquiry for exchange is slack
Gold rallied up to l20N again at the morning
board, but was afterwards offered at 119A, and
closed at the second board at 1877 "a. The
speculation in gold appears to have eliminated for
the present: the premium is now maintained by
the demand Of shippers to Europe, the South and
Southwest, and by boarding.
Stocks were lower to-day. There were again
heavy sales Of governments, both at the first and
second boards. One house sold $400,000 of SKIES
Of 1881 and 7.s0 notes for customer who had
bought them at lower prices and wished to realize
profits. This large sale induced some of the speeu-
htve operators to offer more Of them on sellers
options, and the coupons touched 96Z, and the
registered 81. They closed In the afternoon at
about SIX n. The street Ia mot well pleased
70 roe government securities sold short at the pre-
sent crisis, and severe remarks are made upon the
parties who engage IN these operations. The svil
VIII probably cure itself. Every short sale u
governments made since the war began has lost
nsuey. There 10 no reason TO believe that the
salss Of to-day and yesterday are going to prove
an exception to the rule. A little good news
would soon brighten up the public feeling, and
h The present easy money market governments
wsuld readily respond. The decline Of the day
to-day was equal to in virginias and Panama, lsS
h Michigan Central, TX in guaranteed, Toledo
a1d Rock Island; l in Illinois Central, u in Ten
nessees. Mssouris, Pacific Mail, Central, Erie and
oalena; u in Harlem preferred, n in Erie pre-
leFed, a in Hudson and Harlem, and Il in Michi-
ean Southern old. At the close the market was
Irregular, with . tendency to more steadiness.
ma receipts on the trunk lines ere leading to in
creased purchases Of their stock by tho public.
Ne gross income of the Central for the
year ending in September will probably be
. million and Q half in excess Of the income
n the previous year. The last quotations of
she day were % follows limited States 6's, re-
gistered, 1881, 81 SIX; United States 6's, cou-
pom, 1881, s7sI s71I; United States SIS, coupon,
I074, SO Sc; Treasury notes, 7 $40 per cent,
lolT 1917; Tennessee 6's, 1917 so; Virginia
-, ls . 81; North Carolina 6's, 65 o 65L; Mis-
souri, Sc, 4sH a 4624; American gold, l19s< q
n91I; Pacific Mail, lO7 los; New York Cen
trail, ok Q %; Erie, 3sH a s3sf; do. preferred,
GH 6l%; Hudson River, 40 q "A; Harlem,
l4I . l4sI; do. preferred, s41. a So; Reading,
S5a 655I; Michigan Central, 5s% 5ss4; Michigan
Southern and Northern Indiana, 24A q rs; do. qua
panteed, 541I 5l344; Panama, 100 a 1907; Illinois
Central, 66H 56ss4; Galena and Chicago, 70 q
7oh; Cleveland and Toledo, 461 4e1I Chicago
and Rock Island, 62Ts 63; Chicago, Burlington
and Quincy, 7s1% 1871; Milwaukee and Prairie du
Ohien, s2a 80; New York Central rs of 1876, 1857
. 1887; Erie third mortgage bonds, o75@ ss14;
Michigan Central SIS, first mortgage, LOG 1867;
Illinois Central bonds, rs, ss a 931S.
Demand notes, OF the old issue, Of which there
arc something like forty millions still afoat ere
selling At 1917 1857. We have reason to be-
iieve that Mr.. Chases attention has for some time
been directed to the necessity Of buying up and
sancelling this issue. These demand notes arc
receivable for duties, and % long as they can be
purchased below gold not q dollar Of specie will
be received at the Custom House. u they arc not
Withdrawn from the market Mr.. Chase will have
70 buy in open market the whole of the gold re-
quired for his October and his January interest
erom six 10 eight millions OF ,oars. Twenty per
cent on eight millions ia 81 900 0O0a large sum to
be spent In this way; and II 1t were ascertained
that the Secretary was 10 the market az buyer
Of gold; the premium might be nearer thirty
than twenty. II is probable that, by judicious
management, three-fourths, or even a large pro-
portion, Of the demand notes might be picked up
without causing the premium TO advance beyond
10 IL per cent. These once out Of the way, the
Treasury Department would have no further con.
corn about the price Of gold. The revenue from
customs would supply all the gold required for the
payment of interest on the debt---no matter what
the premium was. We should not be surprised II
che Treasury Department was now actually buy.
ing up these demand notes in quiet way, and
issuing legal tender notes in their stead, as the
law directs. Such policy would be judicious and
Sarseeing.
The business Of the Sub-Treasury was 40 follows
to-day:-- ss
Receipts. e42s oas os
.-For Customs. $4,000 90
Payments. SEA 4h1 90
Balance. 6,oG3 ,096 3s
The exchanges at the Bank Clearing House this
morning were s26 ,39o,278 20, and the balances
sl,5s6, 235 ~. taua
The Greenwich Fire Insurance Company has de-
clarsd semi-annual dividend Of six per cent, pay
able on the 10th inst; the Leather turers