The New York herald., 1863-09-03
FINANCIAL AND COMMERCIAL
WEpNxspAY. sept. &c p. .M.

WEDNESDAY,, Sept. &c Pm.
Money is rather active among the stock houses,
and seven per cent was paid to-day In most
instances for call loans Several old houses re-
ported that their wants were supplied at six and
. considerable amount OF money was left in
brokers' hands by merchants and bankers at the
same figure. Still we presume that few spccula-
tors toward the close OF the day paid less than
seven per cent. with large margin. No
cause can be positively assigned for the hange in
the market. There has been no dminution Of
the supply OF money, and on lst proximo the
new issue OF currency is expected to he issued.
Still there are many lenders who are alarmed at
the high price Of stocks, and there is very lit
tie reason 10 doubt that others are interested
with the bears in endeayoring TO create stringent
market. Some of the banks making new din
cultes about lending on particular stocks. one
bank suddenly discovers that II il not safe TO lend
on Erie, another on Pittshurg, another ON Rock
Island, and forth. This discrimination, which
generally rests on mere wbim and fancy. operates
for the time with severity upon operators In the
stocks Disseminated against though the sufferer
In the end IL, Of course the lender, who loses in
terest on his money.
Gold advanced to-day to l2sll closing at five =.
N. at l2sss bid. Exchange rose>to I+0s. a lil
for bankers sterling bills. The advance was pre-.
dicated in a measure, upon rumor that Admi
raj Dahlgren had withdrawn his feet from Charles
ton harbor, which story. however intrinsicslly
improbable, appeared to be believed by many
dealers in bullion and bills.
The stock market was tower and heavy this
morning. At the hrst board Central fell on y,
Erie u. Erie preferred Hudson l. Harlem l,
Reading q. Southern old :. Illinois J. Pttsburg
1, Gaiena =. Rock Island "A, Fort Wayne Il.
Governments and State stocks were dull Quick,
silver opened at rs, but declined to 90 on canard
10 the effect that the compromise had not been
completed. We have the best authority for
stating that the settlement has been completed.
and that the mines began 70 be worked for the
benefit Of the Quicksilver Company yesterday
morning. At the close Of the call the market was
weak, and at the one r. NJ call OF the public
board everybody began TO sell stocks, and a very
sharp decline ensued. Eric fell on ~ Central I,
Reading ~. Pittsburg 4, southern old ~ and 30
on throughout the list Operators appeared 10 bc
pretty evenly divided between bulls and bears.
and as the afternoon advanced the latter we're
rather in the majority. At the second regular
board q perfect panic reigned for some time.
Central declined per cent Erie I1., Pittsburg z,
Southern old 81 Harlem 81, Rock Island 2, Illinois
Central ~. Fort Wayne 2. and so on throughout
the list. A. the close after the call there was
partial rally but the appearance Of the market
was not strong The decline OF to-day and yesier.
day viii have the effect Of disturbing margins in
many instances, and We may witness some slaogh.
YER Of stocks Tomorrow In consequence, though
the ultimate effect of the reaction will probably be
to increase the number Of parties interested 10 tho
market, and TO lay sound foundation for a new
speculative movement. Az the -four r. NJ call ~
the public board there was quite violent upward
turn. E'ie rosc per cent. southern old NJ, mi
nois ,, aud tin rest Of the list from per cent
The following were the cioslng quotations of the
day:--