The New York herald., 1862-10-04
FINANCIAL AND COMMERCIAL.

FRIDAY, Oct. SO P. M
The money market continues active: but the
supply of money is increasing, and is more near
ly the rate for call loans than s. Mercantile pa
per, which is extremely scarce, sells readily at 4
a for prime short paper, and 6 for to 6
months Certificates of indebtedness continue to
sell at "a discount Demand notes are stationary
at about per cent less than gold.
There was no material change in the gold or ex-
change markets to-day. Gold opened at 1926
sold up to ~ and at u in the afternoon, closing at
1921 bid Exchange ruled at l35 IA for bankers
bills, some leading houses being unwilling to sell
under 1876. The importations Of dry goods for the
week amount to 81 ,54s,274, against $547 947 same
week last year, and 81 ,6626l9 same week in
1860. IT is now well understood that We are
going to import foreign dry goods as literally as
ever Notwithstanding the increase of duties. This
will be very good news to the French, who have
suffered far more from the decline in our consump
ton OF silks and other French goods than from the
falling of in the supply of cotton.
There Is no. the least abatement in the specula-
tive furor which prevails in Wall street. A large
lumber probably nearly all the heavy houses
sid cut their stocks at prices considerably below
those now ruling But the public has come in,
taken them off their hands, and bids fair to carry
them much higher still. The certainty that Con-
gress will be compelled to authorize further
issue of legal tender notes. in order TO defray the
expenses of The war; and the advance in gold, suf-
ce to satisfy spectators that we are going to see
prices very much more inflated than they have
yet been. The especial favorites to-day were Erie
cid, which, after opening at 5115 this morn
ing, sold at 54h between the boards, and at
a.. m
rose to 7lL, and closed ~ bid; Rock Island which
opened at sO1s, sold at slss4 between the boards.
and closed at So bid, and Illinois Central, which
advanced a per cent in the morning and ] y in
the afternoon, with very large transactions IL
deed. The cancelled scrip advanced ten per cent.
Deducting the premium on gold from the price of
these stocks, they still 80 a 40 per cent below
the prices at which they sold in 1856, when the
roads were worth considerably less than they are
now and there was no suspension Of specie pay
ments. In other stocks there was no material
change at the first board. United States stocks
were unchanged. Illinois Central bonds rose l
per cent and SO did Michigan Southerns Between
the boards the market was very active, and even
rampant on some securities--especialy Erie old,
Rock Island, Toledo and Missouris. At the second
board the market was rampant. Erie old rose to
~,
other descriptions TO corresponding prices. At
the close the following were the quotations
US6'sreg 'sl10sx l04I Harlem pref. 4s 40
ssS1s Michigan Cen ssa ,sx
TrnI 10 pc. 1885, l05k Mich 50 Mia 4ol a 40x
uses yrc. 99H a 90. MS &N Iagun 7s a is
dcm'd n. .1l9ss 10y Panama .lA a145
Tennessee Gs. IS So Illinois Central 81 u SIX
Virginia 6's. 80 Clevc & Pitts. SO a s5I
N Carolina G's. 6Ixa Gaiena Chi. 81 stX
Missouri 6's.. SAX b6 Clsy Toledo. ~ 72S
Amer n gold. .l22h le2X Chi & Rk Isl'd 80 say
Pacific Mail l23x al24 Chi, ,BurS Rfl0l a l02"
n Y Central loj los M'S Pr du On SOFA 37
Erc....;.,... s5h SsI .o Nrcsea7s;,7elIa 81 a.
Hudson River. 0siia 6sA Michcenss ,lmll2Is a 1ie
At the outer board (Henrques presiding) there
was an unusually large attendance and great ex.
citement There were sales Of Central at lO5, Of
Erie at 551s. Of Eric preferred at s514, Hudscn
Gszs, Of Harlem (2y5oO shares) at 1874 OF Mich.
can Central at 76s1, Southern old at 4l14 of qua.
rantced at ~ !, " Illinois Central at slss. The
market left OF with every Indication Of continued
buoyancy. Missouri boad- sold after the board
at 5j.
The only FIRST mortgage railway bondt m cLf
market which are still selling ; low plico 8rs
the Missouri state SKIES These bonos, u5rph
they are on the face of them ordinary State bonds
and as such have shared the discredit into which
all border State property and securities have fallen
are in effect first mortgage bonds on railways
which have cost to build them considerably more
than the whole amount Of the bonds issued. Dur
ing the past year the ravages Of war have deprived
these roads Of their usual income, and have com.
peeled the State TO default upon her debt But there
is fair prospect that next year peace and quiet
will be restored to Missouri the railroads viii re-
sumo their work, ard these bonds will not only re
gain tho position they once held Ia public esteem