The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-09-22
FINANCIAL AND COMMERCIAL
Increase. s7.6oo,47e 1881
Decrease. l,oO5,os0 4z,11o

Increase. sT,6to,47e 7o3I,o'7
This completes the tale Of the late government
negotiation, which was only in part reflected BY
the statement Of Monday last. The deposits have
now reached the unparalleled figure ofsls5 $40 900,
while the loans are above $207 ,00O, goo. Such
figures would have been deemed incredible before
the war. The decline in specie must arise partly
from the export of coin and partly from the pay.
nent Of duties in specie, and comes probably
almost altogether out Of the special deposits.
None Of the banks appear to be selling their gold
ct present and the real bank reserve is probably
stn over $40, 900. s8*
Gold rose to l4014 to-day, closing at l4O}s, and
exchange to 1856, closing at 1897 l54. The re-
ported defeat Of Rosecrans, which was the princi-
pal direct cause of the sudden jump of FIVE per
cent in gold and bills, may have the effect Of de-
feating at least temporarily commercial schemes
on which the Secretary Of the Treasury is under
stood to have laid considerable stress. II Is pri
vately mentioned that from the best information
which could be obtained a the Treasury Depart
nent, IL was inferred that successful CAMPAIGN
BY RosscrsBs, coupled with the recent successes
81 Grant and Banks, would lberate 2dO, GOO bales
Of cotton, the whole OF which would fan
into the hands Of the government under the
Confscation act This cotton, VIC learn, it was
proposed 10 send to Europe and sell there for &C
count of the United States Treasury, thus provid-
ing the government with q sufficient supply of e1-
change to keep the market down, in the event Of
fresh speculative movement in gold. Whether
Assistant Secretary HarringtOns sudden departure
Tor Europe had any connection with this business
we are not prepared to say At any rate, there
u reason to believe that the project was matmed,
and, being reasonable anu lanaihle upon its face.
might, no doubt, have been carried into effect but
for this untowasd news, to-day, of Rosecrans
defeat. To what effect the design may be
interfered with by this accident cannot
be determined until we know more about the
extent Of the defeat. II Rosecrans can hold Chat
tanooga, the mischief done win probably prove
small, and good deal Of cotton may still be
brought in Bat there were not wanting copper.
heads in the street to-day who, after their long
silence and disappointment, consoled themselves
by predicting that the rebels would drive Rose
Grams out Of Tennessee, and would cut the Mssis
sippi river once more. If the affair proves any
thing ike this, Mr.. Chase will have to abandon the
idea Of sending either cotton bonds to the other
aide, and will have to rely upon further loans
and further issues of paper TO carry on the
war. If the troops and the public creditors
are promptly paid, the whole Of the fifty millions
recently negotiated will have been appropriated
before it IS paid by the banks, and in the first
week Of November the Secretary will have TO re-
enter the market al borrower. In this event, IL
will be safe TO look for violent fluctuations IL
money, stocks and gold; for sudden and violent
rises, to be followed bytcrriblc panics; for easy
3 per cent money market, to be followed by such
periods of stringcncy even this street has
witnessed, and generally for q continuance Of the
phenomena which have characterized the paper
money err.
In some quarters to-day there was more inquiry
for money; IN others the report was that it was
easy ct q 2 per cent on call. The increase Of
speculation in gold and stocks naturally increases
the inquiry for money; but tho supply is fully
equal TO the demand, day in and day out.
The stock market exhibits gradual increase OF
business, with stronger speculative tone and
higher prices The market ia led by New York
Central, which sold at 40 to-day and closed at
1897 l40, against 1881 on Saturday. The ad-
vance is pretty vigorously resisted by the bears,
who discrcdit the story Of IN extra dividend.
Unless we are incorrectly informed, however, the
determination to distribute the surplus money
on hand has been positively made. Hudson
River followed with an advance at the FIRST
board Of TX, Eric with an advance OF
n, the Michigan shares with an advance OF
each. Prairie du Chen !, Fort Wayne ~. After
the call the market became stronger. Erie rose
"a, Southern old ~. &C., &c. At the one 7. NJ.
session Of the public board the market, without
special activity, was very strong, and In some
instances higher prices still were reached Al
the afternoon board there was q great deal OF
hammering, and prices in some instances were
lower on the call. Hudson River fell Oft "a, Erie
"a, Southern old "a; while, on the other hand,
Cleveland and Pittsburg advanced "A, Rock Island
u, Michigan Central "a. There was very little
business done in governments, and no change of
prices State stocks are steady and neglected.
After the afternoon session and 1t the four L. NJ.
call the market was firm, the closing quotations
being n follows:-
yys a., ,si cou Ioe al08k Hudson River 100 139ts
UsEs III es . Harlem. .ls2h 1i3
Tr7.30pcnA60i06za 10S Reading. -. ..llIH lis
Usssiyc / 10 g.l0lL a10IH Mich Central. .120I
UB6's1yc.i IN 00H o0lz Mich Southn. ON s2ss
Am gold. ..140k ls0& Mich SO guar .l3o =
TcnpesNecs olEa e5 III Central. .I25A a 1857
Nssouri Ga - 90 Glow Pitts. 99k 100
Central .1aQZ AI4O Calona ..07L a 100
Ere ..... lOs u l0sx Clev Toledo .ll1is l17x