The New York herald., 1863-06-30
FINANCIAL AND COMMERCIAL
43,OC4 Iio,075
C. sl.4oo,s74
l,416,O07

increase. ,1'-NfN~'
This statement foreshadows very easy money
market this week. II shows that. while money
has been flowing into the city from the rural dis
tricts during the past week, the banks have been
curtailing their discounts. The question that will
next engage the attention Of every bank ofieer
will be, how our increasing deposits be enr
ployed SO AS TO earn dividends? The specie
column stands pretty steady. As to the circula-
tion, the banks appear to adhere pretty steadily
10 the policy Of withdrawing their circulation.
We presume that they are preparing the way for
adoption by some of the larger institutions OF the
privileges of Mr.. Chase's act, in which event the
Chase currency will be the chief currency dis
sursed and received by our banks.
The money market is quite easy. At seven per
cent the supply of money seeking employment on
call is ia of the inquiry and several leading
houses decline to allow six per cent. Com
mercial paper sells at per cent for the high
grades.
Gold rose to-day to l47s4, and exchange to l6l,
on the rebel invasion of Pennsylvania. But the
advance was not maintained, and the market
showed signs Of weakness from the morning board.
Many persons surprised at the dulness of the
bullion market in the face of the alarming intelli-
gence from Penn svlvania and the general convic.
ton that we are The crisis of the Wall street
appears to be about as apathetic the subject as
the Pennsylvania farmers who win not take arms
to defend their homes. A few Of the bears were
frightened at early hour this morning, and made
haste to cover their contracts-puttng up the
price two per cent. But at the advance other
beers were only too glad to put out their con-
tracts, and, gold being ~ per cent dearer
than exchange, the foreign bankers were likewise
pared TO supply o portion of the demand.
A.Othing short of the snnihilation of the Army of
ae Potomac or the capture Of Washington ap-
pears capable of putting up gold permanently.
The stock market opened strongly this morning,
but fell off at the first board, and was pretty
steady at the decline at the one P, NJ. session Of
the public board. Harlem sold as low as l02 and
rs high as log. The rumor that the Common Coun-
Gil about to retrace their steps in the matter
of the Broadway Railroad created some feverish-
ness, it is hard to say what might be the result
of such maneuvre. Erie sold as high before the
Board as 9614 and as low after the morning ses
sion 942. Reading fell off suddenly from par
ON Saturday evening, to 921, the rebel invasion
Of Pennsylvania. Pacific Mail was steady; Central
declined "a, Hudson "A, Southern old ~
Pittsburg Va, Rock Island /, and Galena
IA. Illinois Central was a fraction better.
Governments declined per cent, and MissOuris
were also per cent lower The unintenigible re-
ports of the proceedings Of the Emancipation Con-
vention, and the slowness of that body in deter
mining upon course Of action, operate injuriousy
on the credit of the State. Bonds were dull. The
general tone of feeling was depressed and anxious
in consequence Of the military news; but there
were no stocks pressing, and but for the alarm
about affairs in Pennsylvania the market looked o.
though it might have been better. Between the
boards it was very steady. In the afternoon there
was not much business done; but the tone Of the
market was not cheerful. Reading fell to 80, max
ing q fall Of II per cent in q day. The following
were the closing quotations Of the day.