The New York herald., 1862-09-17
sncs January .s64. .7S1 7a3 o0.uo.365 os7o6. SIG

certain that next Tuesday we shall have the plea
sure of reporting over 500 900 Of exports
since January l. The railroads leading to this city
are hurryng forward all the produce they can, and
shippers arc sending it rapidlyto Europe. England
will require all the food we can spare. Included
in the aggregate above given is s27O, 600 worth Of
cotton. Our receipts Of cotton are quite active,
and if our troops in the West achieve a success
two the speculation in cotton in this city will be
likely to collapse.
Money lenders are making great efforts to keep
up the price Of money, but without success. Estab
lished houses borrow all they need at 4 per cent
on call, and first class paper, 60 days to run, sells
at about the same figure. Demand notes sold this
morning at llOI. and were quoted afterward at
ll0H "a. They rose with gold, but do not de-
cline with it. Certificates of indebtedness ad-
vanced to-day TO 9SSa. If we have no disaster
these certificates will rise to par, and probably to
q premium.
Exchange opened to-day dull at 1881, and some
bankers were rather anxious to sell at that figure,
especially when gold fell to ll61., it did at the
first board. Towards midday, however. a demand
sprung up, and 1887 was freely bid gold having
advanced to ll714. At the second board gold sold
at ll7I. and afterward at ll77s lis, and bills
were quoted at the close as widely as 1857 l2s1s
for sterling and 4.40 4.371l for francs. The i'm.
portstions are proving heavier than was expected,
and more bills are required to transact the bus;-
ness of the port than even our large produce
movement creates.
The stock market was unusually active to-day,
as the LIST of sales ut the morning board will show
At the opening prices were even higher than last
evening. and there was general rush to buy all
kinds of securities. Before the close of the ses-
sion, however, reaction began to be felt. Peo-
pie were realizing profits on the one hand, and
some were selling on the absence of news from
the Army of the Potomac and vague appre-
tensions Of disaster to the little garrison of Har-
per's Ferry. This state Of things lasted through
out the day, and caused decline Of "a "a per
cent from the highest quotations Of the morning.
At an early hour this morning, for instance, Cen.
tral sold at s611, an advance Of "a per cent from
last evening; it fell afterward to 951s, and closed
s5H bid. Erie sold up to 4lHs then down to 4Os&,
and closed 40Z bid. Erie preferred was at one
time in request at 74N it was afterward
done at 1877, and closed 1879 bid. The Western
shares were ell very active. The Michigan shares,
Galena, Toledo and Rock Island were all in re-
quest at the first board, at from "a to lL per cent
advance over last evenings quotation; at the Sc
cond board the advance was lost again. Erie and
Erie preferred are, for the present, the favortes
with speculators-partly on account Of the large
earnings OF the road and partly because, all other
things being equal our Wall street operators pre-
fer dealing in property which lies close to their
hand, and about which they know everything.
Erie preferred, as is well remarked, will rather
take position among bonds than among stocks
1t represents bonds which, when the road was in
a worse condition and earning less money than it
Ia now, were considered q good purchase in the
neighb orhood of 90, and on which. until the con-
Germ got into difficulties, the interest was always
punctually paid Operators claim that the
Long Dock and the Atlantic and Great Western
extension certainly render Erie preferred as good
as the unsecured bonds ever were. Government
stocks were active but feverish to-day; at one
time the skies sold at l02 but at the second board
we're done at lO1 again. AL classes OF railway
bonds were active and buoyant to-day. We note
a large business in the Fries, Chicago and North
Westerns, Pittsburg and Fort Waynes, &c. The
Pittsburg and Fort Wayne Railway, notwithstand-
ing the recent panic in Pennsylvania, earned
s274,s7l in August, against s24s ,O3l in August,
ls6l-increase 10 $40 per cent. The average
monthly increase for the year to August 81 was
22L per cent The Michigan Southern sinking
funds, which dragged so long in this market in
the neighborhood Of 90, sold to-day at 1887. At
the close the market was steady, the following
being the last quotations =