The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-08-05


Increase. sT49,8l 957ssl 66,0ls 4ss5759
The feature Of this statement, as of the last and
indeed all the statements for several weeks is the
large increase in the deposits. With the bank
deposits increasing at the rate of four and five mil
lions week, aud the loans-which indicate the
demand for money-only increasing at the rate of
three-quarters Of million to million, il is evident
that we shall have or per cent money market
here this autumn, unless the rate Of interest be
prevented from declining by the offer Of the gov.
eminent to receive money on deposit to any
amount at per cent per annum. If Mr.. Chase
wants to see money fall to its natural level, and
per cent bonds rise to handsome premium, let
him stop receiving deposits or Lowell the rate at
once to per cent per annum, with a Wow here
after to lowering 1t to 21l orr.
Money Is generally offered to the brokers TO.
day at per cent; we even hear Of some loans al
3l, though this is below the general rates. Ger
tiGcates Of indebtedness are again up to 9sss. A
fresh inquiry sprang up this morning for demand
notes to pay duties with, and they rose to 1867.
Several heavy cargoes Of goods, which were cx-
pected to arrive before the lst are only Just COM
ing in, and the duties will probably be heavy for
some time.
Exchange and gold are rather inactive. Bankers
are buying grain bills at l25 l26, and selling
their own bills at 1851 l271l Gold opened this
morning at lis, fell of to ll474 at midday, and
sold at l141< in the afternoon, and closed lli%
bid. There is less speculation in gold than there
was, and we understand that several leading
bankers are discussing the policy OF declining TO
lend any more on gold. II this were done, the
spectators who are trading on the apparent de-
probation Of the currency would soon lose money
enough to teach them useful lesson.
There was much better feeling in Wall street
to-day. It seemed to be generally believed that
movements were taking place on the peninsula
and elsewhere IN Virginia which would speedily
set at rest the anxiety which has lately prevailed
In respect to our armies, and that matters would
be placed In such shape that the reinforcements
which will soon pour in will enable our generals 10
accomplish the suppression Of the rebellion within
q shorter period Of time than Is commonly sun.
posed. AT the morning board to-day Treasury
notes advanced Il, Pacific Mail u, Michigan Cen.
| trail H. New York Central "a, Erie 4, Erie prefer
red x, Rock Island "A, Toledo q, Cleveland and
Pittsburg x. We note a sale OF Franklinite Steel
Company at 5L. This Is a new concern, engaged
in the business Of making Franklinits iron and
steel from the well known mines in New Jersey.
and also in making paint from the ores. The new
demand which has arisen for the paint, and the
iron for ironclad vessels, has led the proprietors
to form o stock company. The par value Of the
shares Is $40. The President OF the company Is
Mr.. James L. Curtis, the founder of the
New Jersey Zinc Company. Between tho
boards to-day the market was firm. At
the second board stocks advanced again.
Erie, which rose "a, and Central u, were
the most popular shares on the list, apparently In
consequence Of their large earnings. The market
closed steady, the following being the last quota.
tions:- United States0's registered, 1884, ss1s 80;
United States e's coupon 1881, os1. sss.; United
States SIS, 1874, s5s4 Sc; Treasury notes, $40
| per cent 02A 1o2aS; Tennessee e. Iox< q