The New York herald., 1864-10-02
FINANCIAL AND COMMERCIAL.


sArrRDAy, Oct. 1-ePM
Tne stock market opened under depression, induced
~ the Anticipation Of further decline gold pre-
MUM, consequent the operations the army
raj Grant As compared with the closing quotations
Yesterdays board declined at board
y, Chicago and Rock Island ls. Fort Wayne 2,s Mch
gan Central 49, Michigan southern Illinois Central =
Cleveland ard Pitsburg ., Chicago and Northwestern
~. preferred ~. Alton and Terre Haute l, New York
Central y, Quicksilver " Ohio and Mississippi certin-
Gates ~. Cumberland Coal advanced u, Reading 81.
Hudson River unchanged.
Government securities firm and active at frac
tiotSAsdvanoe Coepoa hve.twentes advanced 4, cou
pom sxeSof lss1 Y registered " coupon ten frtes v
one year certificates y.
State stocks were neglected, bank stocks dull. and
railway boads steady.
After the call and at the open board At ons O'Clock
toe railroad and miscellaneous list was still rur
ther depressed general decline OF from tvo to vs
per oenx took place Later afternoon the quota
lions were lower, and Erie sold down 70 SEX. There
was slight Improvement before FIVE O'Clock; but the
feeling on the street very unsettled and the mar
ket weak and irregular.
The course OF gold exhibited violent fluctuations TO-
day, and there was less dsposton among operators
in u 70 discount speedy victory In virginia than was
shown on the Stock Exchange. Tao opening quotation
was 1872 upon which there gradual rise TO 1884, fol-
lowed by vibration between 1913 1891 then re-
lapse to 1p2 and an advance Of r. Between ten mi
nutes before one and ten minutes past p. N. the
price hardly varied from ~ after which the marke,
gradually Weakened and half pas. four r. NJ the quo
tation 1891.
1ne gold room at the corner o. William ana Baave,
streets was opened today.
The belief now becoming general that tho ,.t,-a
teMtency OF gold is dowuwards and hence MANY az
the Epc,ulators in trade and stocks are autjc
pating the result. The "bearsn on the stock
Exchange hava been Selling Sshorttir asaa freely,
ana 10 the genera! merchandise markets there is 4
o'r0og disposition TO press sales al Sacrifices buy
S are very reluctant purchase moro than emo qh 10
supply their Immediate necessities The natural conss
quence Of this state Of things great stsgnatoa IL
trade and droopog stock market. Meaa while "a
voraoie and steadily improving aspect OF inc military
situation is operating powerfully the ,a Of
gold, which, In its turn, will exercise corresponding in
nuence upon prices for property or all DESERT tons
mere were rumors adoa to-day OF large fail
ures; but they not traceable any au hentc |
source. That OF Wright Maxwell Co., branch OF ihe
ko Janeiro house o. that Dano engaged in the coaee
trade is the only one OF consequence vouched for The
suspension is said TO be attributable to losses on |
oreign exchange, options and the heavy decline n er
chandse aud gcli. But it well known by those best
informed that many houses are in very Sd XIV c,nd
ton through their speculatons il foTeg1xchange hay
Szg gore against them and this adc 10 the heavy
loessa their recent inpotatoos likely 10 prove
fatal TO the soyency OF not few OF their number
among whom are parties gsperay supposed 70 be entire
Iy exempt from the risks Of speculation foreign bills
or god The anxiety among the commercial com
munity relative to the solvency OF houses hth-
erto In good credit is increasing, ana the
sense Of insecurity which this breeds is becoming
very general, and credits being rapidly cur,aied
The banks and private capitalists pursuing a
strictly conservative defensive policy regard
DISCOUNTS, and prime paper decired per
cent The yelume OF commercial RI oGering l. worry
paid for discounts at short dates good
To-day The strngency in the money market has been
moro marked There has been calling in Of loans,
and coatersls have been closely scru;nzed aud wide
margins exacted But dst class stock houses be,n
able TO command all they required at per
call.
The spectators in produce stll making strong
efforts 10 keep up prices In the face OF the decline OF the
gold premium and this is specially observable in the
article OF pork, which selling for nearly four dol
lars and forty barrel gold than IL
Few months ago.
With the exception OF pork. produce generally dull
nd lower lcday. Flour declined fifty cents per barrel
and wheat three cents per bushei; but much greater
decline toan yet taken place inevitably attend
tho continued appreciation OF the currency.
Foreign exchange is Inactive Bankers ask 1os7{ 100
for sixty days bills on London.
The Assistant Treasurer reports as follows
Receipts for customs .................. sIoocu
TOtal receipts. t.s.o-o
Payments lo.o'ssV
subscriplipn 10 government oan.......... ll3,s00