The New York herald., 1865-05-28

cotton and tobacco. ere too low 70 make .
profitable maret foe American produces This feature
also applies TO bonds we have topay for our
imports mainly n gold land the more gold We ship the
scarcsr and deaser win become up to certain point
when the consequent rise Of the premium will stimulate
exports both OF produce and securities and produce
opposite effects.
The stock market has been very dull, but nearly
steady At the ars board Erie higher than at the
second board yesterday Rock Island u, Fort Wayne r.
Ohio and Mississippi certificates u. New York Central
was Y lower Hudson River ~, Reading ", Quicksilver
g. Government securities were steady, but inactve
Coupon fvetwenties sold at Io3x ~ tenorttes o4X
AT the open board O'Clock there the same
monotonously dull and steady market New York Cen
trail sold the call ut s95E u, Eric TAX q, Hudson
River ee Cleveland and pftsburg olk Michigan South
ern 5Sk, Rock Island 93I, Northeastern rs, Fort
Wayne e3X Cumberland 3s>s, Quicksilver 5ox. After
wards the street, the market remained steady, with
very limited volume Of transactions Late In the after
I noon Erie was quoted t7es, New York Central S9h,
Hudson River Of Reading 92,s Rock Island 9sX Fort
Wayne 93b, Cleveland and Pittsburg SIX, Michigan
Southern 5s,<, Cumberland ASA Quicksilver Co. Gov.
erpment securities continued stagnant
The money market Grmer at six per cent than has
been hitherto OF late and although the demand for loans
is not large IL is becoming active, both In conse
of the Withdrawals OF currency by the Treasury
from .a subagents which have already taken place and
the prospect OF further Withdrawals next week for the
| payment Of the army. The large amount Of funds
locked out from = circulation ia the subTreasury
still further reduces the supply Of legal tender
| money at this point, and is owing TO the
dlaorIness Of the disbursing officers In granting
vouchers we'll perhaps as in that Of the public
creditors receiving them In presenting the same for
payment But. notwithstanding, there is no danger Of
stngency although the Indications favor active six
| per cent money market This may perhaps, have tho
effect Of further depressing quotations the Stock Ex
change but tho deeuc which has already taken place.
added to the inert condition Of the market, will pro-
vent any sudden fall although If The bull leaders with
draw their support which, however. they hardly
afford TO do whe they situated at prescut therc
would OF course be rapid shrinkage of values. The
discount line shows marked change, unless in an
acton OF slightly higher rates tho part OF lenders.
First class commercial paper Is quoted at per cent,
aud the middle grade a 10.
Foreign exchange was less dull than usual on Satuc-
days Purchases made for the next steamer, which
expected to large remtances a 10 for bankers
sterling at sixty days, and 1ok at short sight There
arc very few commercial bills offering, but they are
quoted at 100 lo9x Our foreign trade is at rather
low ebb the exports for the week just coded having
been valued OF only $l.sSs,5ss aud the Imports at
81, $50, ,265. ~
A meeting of State bank officers was held yesterday
at the American Exchange Bank, at which twenty two
Of tho old city banks represented for the purpose
Of taking consideration the subject Of reorsanizng
under the National Currency act. Fourteen OF the
twenty decided to reconstruct their institutions un
der the system and among them the National Bank,
the Chemical, the Merchants, the Leather Msnufac-
turers', and the New York No
Mr. William Orton late Collector Of the Sixth district
Of this city, has been appointed Commissioner OF In
ternal Revenue the place of Mr. LOWS, who resigned
The business at the Sub Treasury today was as fol-
lows
Receipts for customs. ms................... S201 900
Total receipts. 700 40
Subscriptions 70 government loan ,,.,,., l33 900