The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-25
FINANCIAL AND CONNER GAL.


TUESDAY Sept 2i-6P N.
@Ansrs I'm Wall street arc stlll very unsettled state
snt lhcro Is a conspicuous want Of confidence ell
sides but especially among money lenders aud the
Secs Exchange The approach OF monetary stringency
=, an cartier period OF year than has exered
depressing effect upon speculation and in degree
upon traac while has developed lack Of elasticity in
our currency system which without element OF
danger both regards the banks ana the interests
which dependent upon them. On tho stock
Exchange tho panclike feeling whoh pre-
vailed early this morning has given place
20 comparative calm for tho moment; but how long II
will last Is uncertan and the impression general that
shere 10 trouble brewing, aud hence capitalists
move warlly, like men cropping 10 he dark They ask
themselves what will be the effect OF the redemption OF
October compound notes IN currency by Tho
Treasury, suppOsi1g the Secretary TO still Persist ~
holding back the my millions OF shreo per cent eerue
satcs which were authorized &c replace portion 1f
ahese ross vhich at various dates shis year sad
next Fifteen twenty mlioss OF the latter fall due
next month and thus far nosgn has boon shown ihsA
any OF Tho certificates 10 DO issued their place
nor that Mr. McCalooh is 10 modify the system Of
traction he has thus far pursued, to tho great
INJURY of The material interests Of the country
In the midst of tho prevailing uncertainty tho gold
market has Arm undertoDe, but 10 without specula
Ave animation. After opening this morning et 1929 IL
gradually advanced 143, and tho closing quotation
was l42H l43 With sales Al tho higher figure After
Abe adjournment OF the board tho quotation 10 l43
l43H The supply OF cash gold remains abundant
under daily saos by the Treasury and loans msdo
N4a7 per cent for carrying. This, together with the
prospective payment OF the November coupons
hg TO not far from twenty-five millions has created
large "sbort" interest The gross clearnss amounted
70 SOS the gold balsnces to $994 i7 and the
surfcncy balances TO 81, Ala o76.
IA ba nla in1a IN nd daiiv
the remalcos yesterday through three OF the express
companies having, It is reported, amounted 10 twelve
hundred thousand dollars, and to-day several small
parcels were sent to the South. The accumulation OF
national bank notes having been exhausted thess
muances, except. perhaps, 20 very trinng extent,
represent the loss TO this Of much in legal
lender notes. Bank officers u opinion that the
monetary activity which has &c. in will be still
felt prior 10 tho making OF the quarterly
turns OF the national banks Monday the 18th OF oc-
fooer and that the requirements Of tho pork crop
and the cotton crop viii prolons tho activity
for two or three months to Tho fact of the
bned bank Ia loyal tender notes according
ihe last statement having Been only 81 1874 900 above
she legal limit 10 causing the banks prepare for
traction Of their loans and hence they scrutnizng
coaerals very closely and becoming exactng
gins In not few the securities upon which they
made advances some weeks ego have Deprecated
their bands TO the full extent OF the margin exaoted,
and they nId the borrowers unable respond to
calls for margin ami this OF course uneas-
ness. Money was generally reported stringent up to
swo O'clock but afterwards it was somewhat easier,
owing 10 brokers generally having previously made
up their accounts There is rather active demand for
dscouns but the best grade only OF commercial paper
meets with favor at the banks whero IL 10 taken
very moderate extent at n per cent
Al Boston the money market is less stringent than
was at one time last week, but the reserves OF tho
banks there being below the legal limit thcy in
anything but strong position.
Tho following table shows the progress Of the
national hank notes