The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-07-11

SO long % exchange continues at it's present
figure. On the other hand, the advance in bills
will nearly annihilate our import trade. Goods or
dered sixty days ago, and not paid for at the
time, must sell for IL per cent than they
worth when they were ordered in order to reim-
burse the importer. Goods sent here on commits
sion by European manufacturers will net Q very
heavy loss. The premium on gold is, in fact, just
80 much additional customs duty levied on foreign
goods; and, as the duties were nearly prohibtory
before, this will render them absolutely Fortu
nately, with the exception Of tea, coffee, hides,
drugs and one or two other articles, everything
consumed here can also be produced in the coun-
try; and, on the other hand, the supply Of food
and other produce which can be sent abroad in
case of necessity, and sold on American account,
is almost unlimited BresdstufB, though they
have advanced considerably within few days,
are still 10 to 20 per cent lower than they were
year ago. People who are afraid of the deprecia-
ton of the currency cannot do better than send
grain or -four to England, returns to be made In
gold.
Money continues fairly active at per cent.
Many capitalists are distrustful of the future, and
decline to part with their funds. Certificates Of
indebtedness are worth s9A q "a; green backs,
7Las.
The stock market was active to-day; but prices
as general rule we're rather lower. Pacific Mail,
which advanced 81 per cent, was an exception to
the rule, and so was Cleveland and Pittsburg,
which rose one per cent. Central opened at 93Z,
fell of to 80, then rallied to 92 and finally closed
at about 921I. Erie Huctuated between 35Z and
36Z. At the first board Erie preferred declined
II, Hudson River "a, Harlem l, Michigan Central
/, guaranteed l, Illinois Central /, Galena "a,
Toledo "a, Rock Island "a. State stocks were
generally steady, with the exception Of Mssouris,
which declined "a per cent. Bonds continue in
active demand; the issues of the Northwestern,
which the lowest Of the safe bonds the list,
appear to be again rising in favor. Between the
boards the market was not active, but better
prices were offered for stocks. At the second
board there was no material change. The market
closed steady, the following being the last
quotations. States 6's, registered, 1881,
lO2 1927; United States 6's, coupon, 1881,
102 1927; United States SIS, 1874, 80 . 81;
Treasury notes, Z slope cent, lO4Ha 104s@;
Tennessee 6's, So 81; Virginia SIS, 53H :; Mis-
souri, 6's, 1917 . 40; American gold, ll5'4 ll6
Pacific Mail, 1897 1897; New York Central, 92s1
. s21s; Erie, s5A So; do. preferred, 63sS
631I; Hudson River, IS a ~; Harlem, l6Za 1871;
do. preferred, 3ssl 3ssl; Reading, 81 So; Michi
gan Central, e1H 6lA; Michigan Southern and
Northern Indiana, 25A 257s; do. guaranteed,
57A a571Il; Panama, 1907 49, Illinois Central So
a59A; Galena and Chicago, 7OsI 70A; Cleveland
and Toledo, 4s.l 1871; Chicago and Rock Island.
64I IS; Chicago, Burlington and Quincy, Tx
a 78Z; Milwaukee and Prairie du Chen, "a . IS;
New York Central rs of 1876, 107 -; Erie third
mortgage bonds. ssA 3d. Illinois Central rs,
93H ass.
It is common remark that stocks are advancing,
and have been advancing of late This is an error.
Stocks have all fallen heavily within the past
thirty days, as the following table shows