The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-11-07

Chicago Journal OF Monday remarks Of the condi-
ton or the local money Market
The week closes a stringent money market. Tho
banks the absurdy OF attempting 70 carry grain
be heid here Tor tho benefit OF local specuatona and
many loans being called in borrowers specula-
ton lind little favor bat there is every disposition
shown TO accommodate shippers by accepting short time
bills against cargoss. Several OF tho packers at
work, and more will commence es the weather
becomes more favorable In the meantime thcy are
making arrangements for money 70 carry them through
There is good inquiry from tho lumsermen for dis
counts. Tho stock OF lumber now In the hands OF
dealers is estimated by competent judges 10 be In the
neignborbood OF three hundred and twenty-five mil
hons not to speak u lath and shingles The mercantile
demand 10 fairly active Paper subjected a close
scrutiny at the discount houses and favors granted
only to those whose ente them to accommo-
da,ion. In the market thero 10 difficulty in
placing oanaoe fuQds The rates irregular-ranging
from IL per cent according 70 the nature Of the
security.
New York funds quite scarce in the forenoon,
and sales made between banks at IS 40 cents pre-
MUM but later IN the day there a better supply,
and round lots sold at par Tho ratesre irregu
lar At y discount par buying and par l.l0 premium
selling.
The London Daily Ners publishes letter relating to
securities held in Europe 10 which the following
remarks occur
Another difficulty is the pernicious effect upon the
currency OF SO considerable portion Of tho debt being
he'd on this SIDE the Atlantic, to propose remedy fof
which is the object OF ihis letter. 1t doubt
immense importance during the last three years for
America 10 be able TO pay SO much OF her indebtedness
liable to have these returned her for gold,
and in amounts which she may not DO able.
European complications s now enough to excite
her gold market. To get rid Of this disturbing
sanction OF Congress, should issue f100 600 900
OF sterling per cent bonds interest and principle pay
sbls IN London TO be exchanged for existing ve.twenty
might have forty years to run, and be redecmable by
annual drawings or Otherwise, as vas thought most
In exchange. ! mention 40 large amount Il IS
supposed that At present twenty per cent Of the Amer
debt 10 held in Europe The American government
would merely have offer these sterling bonds in wash
ingon to Its own citizens aud they would ind their
table in New York. they would no more be sent TO that
market for gold in times OF panic than the bonds OF any
foreign State America would save eli 900 600 yearly IN
interest," she would besides tho value OF her AVE.
twenty bonds at nome by relieving the market TO the
extent OF 100000 900 and possibly have the satsfac
toa Of seeing, long, her sterling bonds standing
they ought To do In tho English market, at par.
The earnings OF the Milwaukee and ST Paul Railway
Company in October were ST. 600 against s53S 755
for the corresponding month last year.
The receipts for customs and the receipts payments
balances the Sub Treasury city for the
pred portion Of tho week have been as follows
cu.i9. House 60 Treasury go
Nov ss77 900 60 ,s2s S. fsac sloa AL 81
Nov ST.. 10000 assessed s,515,lo3 lo2, 73l 47e
Nov. o.. $4,000 l,s75.672 l2l4,457 lo3 AZ. ee4
The exports exclusive OF spccie) from New York to
foreign ports for the week ending November 8, and
since tho commencement OF the year. compare fol-
lows with those for the corresponding periods 1865
and 1906
1865. 1886 1857
For the week.. seeos,ie7 ss,oss7so sa'5s7, oas
Prev. reported l32. 100 los e61 1872 al las
Since jan l. 1882 4oo17o slei 3e2 AT sl5o sos,l7l
The foreign imports at New York tor tho week. since
January and for the corresponding periods the past
two years compare follows
1865. 1860. 1887
Dry coods..... s3,l37.c26 $1339. $40 SlOl3o57
General mdse.. l,ss6, IA 2,6072l6 2ss3, O55
Total for week. 85,0c3.3T0 <3,o47,0 S3,49T OLA
Prev. reported. 16l ga 5s7 245, 42i1S0 zoo 22- Ia
since JAN l. Sl6e 247 g57 s2s9 sos 236 s2oe 1874 15s