Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1862-10-16
Prepared for the Rutland HERALD
Monetary and Market Matters.

B q
interest than article which would come under the
above heading but ali classes of persons read newspa-
pers and therefore, far is consistent believe in
giving all classes the information which may be bene-
fetal to them Business and farmers like to have
matters discussed which directly their Opera
tons; and it will be aim to furnish brief article
each week for their special benefit We do not propose
to go into detailed discussion of money Matters be-
Gauss there need of it but the rate of money
regulates the prices Of merchandise, propose to
quote the rates of money in the cities for the purpose
relieving the business of the necessity of referring
TO city paper for the information he needs. Here in
the country in our business transactions, we know of
but the rate, six per eentno matter whether the
rates at which brokers and others ask for money the
Cities be g. II, Upper cent and in giving the quo
tations do not wish to be understood favoring
departure from the old established rules among bust
In making quotations respecting the markets
shah make such selections think most interest
the readers Of the Herald . ....
Since the rebellion commenced the regular of
business has been much interrupted that vast
amounts of money have accumulated in the cities and
also In the country which cannot be safely used in
binary business transactions so as to yield the usual
and while have loaned money at low rates,
others have invested their money in stocks for the pur
pose of speculation There are at the present time in
the cities, millions of dollars lying idle because the
business of the country unsettled that favora
BILE chance for investment presents itself All capital
lists and business men are eagerly watching the move
ments of our army, and everything is influenced to
greater or less extent by its successes defeats the
case may be.
In of the high prices of nearly all kinds of stocks
the question frequently asked, ''why don't govern
ment securities advance in the proportion that
other stocks do ~ The question be answered in
very few words and let assure the reader that it
is not because the capitalists have not the utmost
fdence in the government The is simply this
Spectators in stocks prefer to deal in those stocks which
they can control more easily than they government
stocks All well aware that there at the present
time greatquantes ofU POST 80 Treasury
Certificates of Indebtedness &c.. and to undertake to
control the market would be gigantic enterprise.
Many people imagine that because gold commands
such ahgh premium the article scarce This is the
case The New York Banks and Sub Treasury alone,
held on the LIST inst S2 900 and probably nearly
ry Bank holds about the same in specie paying times,
in order TO be ready when business should return to its
former channel. The California mines have yielded for
export to all ports since January LIST to August 26
s25 40 AS the has continued longer than
cpated, and in view of the large amount of govern
ment notes in circulation it looks as though the resmp-
ton of specie payment would be delayed time 1t
can be done only by the final settlement of present
national troubles and mutual action of the Treasury
and Banks 1t would be the hight of folly for the Banks
to undertake to while the demand liabilities Of
the Treasury great and the shipping demand for
specie so large In consequence of so many southern
ports being closed and cotton shipped, imports
largely exceed exports, and the balance of trade
against is quite large at will be seen by the following
Imports since Jan. /, lSs,lO5,422
Exports of produce since jan, l06,7l0,393 r.
| Excess OF imports over exports, 3l,390,029
In view of all the facts, spectators have succeeded
in getting the control of what gold there is in market,
and holding it for high rates. If this does perplex
importers of foreign goods some it prevents English
capitalists from sending American stocks over here to
take the advantage of the Market they must have
gold in payment and when the premium deducted it
brings the stock down to low figure.
The latest quotations Gold l2S; Treasury 730
per cent los 2 u S. 6s 520s coupon l02 l2 year
certificates were in demand at 90 l-2; CustomHouse
notes very active at l24; Vermont Central R. LIST
mortgage bonds IS; Vermont and Canada r. r. 1870.
| NV YoRK MARKFT.-Cotton Sc IL cts for middl-
ing Flour, Family brands quite scarce and are
held at very high rates but subject to Irregular
ties The sales 23oo bbls $500 1885 for super
State and Western $685. 1925 for old and ex-
ira State $3.50 6.5l for fancy do choice extra
brands s7.75 a $3.50. Wheat, Spring sl.l6 81 %
MnD & sas 10 haa sss
| Provisions, pork market more active and is frmer;
sales Of 1900 bbls at $3.50 sl25, mess; Beef is quiz
and $4 $l4.50 for extra. Extra butter Gle Cheese
market is firm, extra, l2 Sc. Hides there is good
demand and on some descriptions prices better we
quote % IS for Rio Grande and Buenos Ayres %
24c Orinoco II is dry western; sax IL for city
slaughter The stock on hand 36e 600 against 1896 600
were follows First quality a s-4 medium
| a $50; ordinary a ESQ., Sheep; Good fair 95 in
sheep sell at @ head and some very good long wool
| buyer thought them 10 lbs heavier. .y-
The advance upon pets the contracts of this
fully Csc head The prices of pes never vas as high
now that is s37 IL "a each, taking the lots
OF wholesale butchers as they through the month
OF buyers prefer the long woods and this has
given Canada sheep set forward. e
By the arrival of the steamer Massachusetts,
from Port Royal on the 4th inst, we receive
intelligence of the successful issue of the ex-
petition to st. Johns River, Florida The
expedition arrived in the vicinity of the batter
les on the lst inst, and reconnaissance by the
gunboats, during which an exchange of shots
took place, established the fact that the rebels
were there. The force intended to operate on
land were then put ashore and proceeded to
gain the rear of the rebel position, when the
enemy ingloriously fed, leaving everything
behind-a battery of eight heavy guns loaded
and unspiked, quantities of ammunition, many
small arms, and a fair supply of stores and
4 camp equippage. Our gunboats Immediately
took possession of the river, and cut off the
retreat of an entire Georgia regiment and a
number of guerrillas known to be on the south
| side Tins reuderino THAR 90 Y,,,,ra al,,oot car-