The New York herald., 1864-09-06
FINANCIAL AND CONNER CIAL
MONDAY, Sept. 5--oP. n.


MONDAY, Sept. 5-oP.N
rn. ,,6 srks, atm Ia pus under considerable excite
rnsnt ana The price has fucuaed rapidly all day; but
nottb.anatnr the confirmation Of the report OF oui
troons being in possession OF Atlanta, the extreme do
cline was NOT heavy and the tendency upward Tbs
opening quotation 235, from which 1t steadily ad
to 2.s then declined 70 24l and closed at -four
O'Clock at 24O4. Some attributed the quick recovery OF
the morning part she capture OF the privaeer Geor
gia, under the British flag, the impression being
that II msy possibly lead 70 entangements with
England very improbable contingency, however.
Government securities continued dropping in the face
the Atlanta success owing the balance OF the 1851
loan hanging the market as well TO the decline
OF federal bonds IN Germany. A London circular Of
August 20 quotes the avetwensies at 3Tla ass.
In connection with the new gold bearing loan we may
mention that the FIRST National Bank OF this city has
received the following from the Assistant Secretary OF The
Treasury, dated September s. 1864
lam directed by the Secretary authorize you to re-
legal tender 1--we per coupon notes, and allow
in payment OF subscriptions 90 the new
loan 1851 These notes will be cancelled and promptly
Transmitted 10 the Treasurer.
The tendency Of this will be to impart tho money
market and stimulate the bidding for the bonds but OF
c6urse only limited extent. II will also enable
the Treasury to issue compound six per cent notes OF
small denominations in substitution and these will be
convenient for the payment OF troops for which the
pom notes hardly available, account
OF their high denominations.
The railway share market rejects the unsettled state
of public mind with regard future and the IN
disposition OF Spectators 10 operate for rise, notwh
standing the low prices current Some strngency
the money market is feared would be experienced
on the Stock Exchange strong speculative feel
ing set in pending the payment OF subscriptions
TO the new bonds. But lthough this would be the
TO limited extent the chief effect OF placing these the
market at the present time IL and will be OBJ
servabe during OF the month in the diminished
subscriptions to the sevelthrty and tenforty loans
whereby the government itself IS the chief sufferer
1t reported Washington that the balance OF the
1881 all ready for delivery but, according
from correspondent, bonds OF this description
paid for at the subrreasury here in June last have
not yet delivered, although application has on
several been made for them by letter without
eciting reply.
To the evil effects of the national bank system In
promoting the initiation Of the currency may mention
Of legal tender them the week
ending the Sd inst s. olS 100 and that their total
issues to s45,4?775o This, added the State
bank issues of about $3.50 900 and Treasury issues OF
$6s3 SIT $50 makes total OF more than eight hundred
and millions of paper money now afoat in the
loyal Safes.
The rate for money on call Is seven per cent,
with a better demand. 10 the discount line there is
considerable activity and a close scrutiny Of names Is
observed The rate ranges from eight to twelve per
ceat according to quality Foreign exchange is dull
There fewer commercial bills Offering bankers
ask 100 for sterling Francs range from 5.12s to SIS
The stock market opened dull and weak again to-day,
with further decline in prices Compared with the
sales Saturday Railway declined At the rs board
day per cent Erie preferred stock u, Hudson River
q Reading z, Michigan Southern Illinois Central 4,
Cleveland and Pittsburg 4, Coicsgo and Rock Island e.
Ptsburg and Fort Wayne Ia, Chicago and Northwestern
n oumi erland Coal u, Canton Company y aud Deia.
war and Hudson Canal Company 5. New York Central
advanced u and Quicksilver Mining e. Aariposa and
Oaio and Miss ssipp certificates sold tho same.
The market continued heavy in the afternoon, and Al
the meeting OF the Stock Exchaoge New York Cen
tral ic oil 4 per cent from the highest prices in the
morning, Egie Railway ln Hudson River 2S, Reading
IA Michigan Central H. Michigan Southern IL Illinois
Central " Cleveland and Piitsburg Chicago and North
western TX Chicago and Rock Island IL. Pttsburg and
Fort Wayne u, Quicksilver Mining Y, Cumberland Coal
" and Ohio and Mississippi certificates "a.
We give table comparing the prices OF some OF the
leading railroad and miscellaneous shares to-day
-u,.h ,Ia ,,ot s,one nm 6rst Monday