The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-08-11

| Dec. 500 1888 5,s05 03o
The above large decrease in deposits represents
the absorption Of money by the Sub-Treasury,
whose balance at one time last week rose to
nearly $33 100000. On Saturday evening it had
fallen to $27 900 00O and this evening to 1913 085 !.
000 The above statement therefore reflects
the condition Of the banks az they were,
and not a. they are. As the government
disburses money in the payment of troops
and contractors the banks will again accumulate
deposits. The specie shows decrease, in conse.
quence of the heavy exports Of coin. The varia-
ton in the loans is slight. Next Monday the state
ment will probably show results very different
from those of the statement of this week, though,
unless speculation becomes more active, it will be
easy matter to increase the loans to any extent.
The ease in money was very marked to-day. At
an early hour the leading bankers sent round to
try to place their funds at per cent; but before
three P. M. most of them were Obliged to be con-
tent with s, and several had money over which
they could not use at that figure. The large dis
bursements of the SubTreasury are increasing the
supply of cash means which is available for the
wants Of the brokers. Mercantile paper sells at
5a5H for the best names. Debt certificates are
steady at u "a premium.
ing, and as low as 1857; it closed this afternoon
at 1861. Bills were inactive at l39 J for
bankers signatures. There is no speculation in
either bills or gold, and the prospect is that the
price Of both will remain tolerably stationary
until some event occurs like the fall of Charleston
or Mobile, or serious disaster to our armies,
when they would again become active, and specu-
lation would turn them to account.
Stocks were not very active:ths morning; but
prices were uniformly better, and the tone of the
market was buoyant. Harlem rose to $50, jump
of nine per cent Prairie du Chen rose 3, Illinois
Central TX. New York Central ~, Erie ", Har-
lem preferred s, Southern old N, Reading ~,
Pittsburg ~, Galena "a, Rock Island TX, Fort
Wayne l, Northwestern X. There was very little
done in governments or State stocks. Bonds were
dull and neglected. The chief interest in the mar
ket centres in the active railway shares, which
have been advancing so rapidly OF late, and re-
speeding the future of which no one can foresee
anything. If any one sixty days ago had predict
ed that Harlem would sell at $50 he would have
been set down as crazy. At the one p. NJ. call
and at the afternoon session of the regular board
the market was lower. The bears took courage
from the loss of deposits in the bank statement,
and offered their options with fresh vigor, while
some holders took fright from the same cause and
sold ont. Thus Erie fell l per cent, Central ~,
Reading ~ Illinois u, Pttsburg a, Galena q,
Rock Island l, DC. At the close there was at first
rather more disposition to buy; but this was met
by very liberal offerings by the short sellers, and
prices dropped of further fraction. Afterward,
and at the four p M. call, there was smart rally,
and the market closed stiff again. The following
were the closing quotations of the day.