The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-04
Ne day Iange ). tne plarket &c Ii uaAerslated =

The foreign exchange market frm and active
throughout week, aud OF toe leading dras
advanced their for sterling =. doys to los r.
be ng recovery or about and qaar.er per
from The lowest POM touched dcas Lie depression Of
The previous week The later ,oa great extent
produced by artificial causes, ia order 10 enable plimc
bankers to buy up commercial and inferior bakers
blB at low rates, aad ihe1 ed their efforts
BY tho scarcity Of cash god aud tie eAcsp ionab,
heavy ilieresi paid for tho OF II which induced
no ders OF coin employ IL in ihe God Room sne
defer their purchases Of exchange Wien thu Sub
Trlasury bssan TO di-burso tie November IN
tsrest tho fvc-tweny loan, and cash
gold became easy, there sldieo and
strong demand for bls, which Of foreign
BANKERS by SURPRISE and tho supply OF ccmeIcial hills
the market was inadequate 10 NEE, IT, although tho
exports Of domestic produce have laterly
siderable increase. at the there were few
bits drawn against shpnsnts of securities, and
Quenty the reaction from the provioas decline In
was ony natural Consequence OF ths altered Of
Affairs Tho demand mainly dae 10 remittauces OF
the proceeds Of November coupons sent here BY
European bonchoIders and hence Il IN not likely last
long tat the rates or exchange may nevertheless re
main firm under the ordinary commercial demand, snd
the cotton is iasorsbls t:s. although To
enlarged exports Of Ofsadslu may countcrbaance tho
ioss In exchange rom this At the close tho
market lrm but quiet and bis on "a gland
sxty days were cue OF at lo9s ioeal Al three days
1927 l10@; sonnsgcia bills. l0St 100; bills on
Para a. sisy days, 6lsS b 1853; AZ three days.
Ill oISY.
The money make, easy at ak per ecu, 10 stock
houses good credit although in instances where
che amounts borrowed small the oollaterals not
Ars, class tbs credit Of the borrowers high seven
per cent paid. Al tho som, OF tie cad
Ing dealers in soverumsls see rises were ensbed
n
sant suppy OF capital available for loans disposed
sEs banks discount prime mercantile pap Tor their
customers with a htllc more freedom than before
seven per cont but they very careful their
lection namcs generally refused paper coming from
OUTSIDE Hence srsi CLASS paper as rated
street at 10 per cent, while that un,h recently
held that rank diiasui, Of negoi,a,oa at much
higher rates. and inferior grades had ~ submit among
shs note brokers II Is per GEN. tho market for the
hfisr beng very hmued, eSing TO tho dstrust Of
credits suving sst Of she recent failures and the
heavy Losses which have attended tho depression ia
TRADE, particularly In the department Of dry goods,
foreign manufactures having boon recently SOLD
In for less tnaa the amour, Of dates
paid them and domestic goods for les than the cos:
Of manufacture Tho remedy for this Is sought
n reduced mpcratloas and slsckenins Of work In tie
factories. Tne weslera exchanges In favor OF
this CITY To limited extent; but demand for currency
from the South 10 the cotton crop sprinsng W,
sna this will be Likely to gradually increase in volume
for months TO ohme, although shs aggregate drain
viii be modified by tho low prices Of cotton AMI ths
consequently reduced blla compared win
che average prce Of last yeats cop necessary
n Meanwhile the banks hero 10 cay position,
although their resources limited, and their state.
men, for Tho week ending Saturday will show an
sncrsass in ien namely Of Si,oill24 in the
loyal teuder notes S. las, 500 in dsposs si'995 In
circulation 81 Sl3 81 40 spesis aud s4l5 10 la loans
1ne following aicnsnt shoss tho hisa1st ADD lowest
prices OF the lesiing speculative stocks in Sosomser,
lS85 AID 1868 fespccdvciy:-