The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-09-03
FINANCIAL AND COMMERCIAL.


fhs railway share market. after opening With an sp
fearancs OF nrmness this morning, became dnli ana
heavy under disposaon realize, and during the re-
pnAlalsr OF the day ils tendency wss downward Ths
main csuss was an that the next statement
u hs public debt II. exert depressing eject on the
Stock Exchange consequence OF the reduction or legal
tender notes. It will snow the result Of the redemption
OF the compound interest netss which nlstursd in
August; but as this 10 already expected, 10 dc.
pressing inaaencs 10 likely 10 DO very limited.
The market IT, however. 30 devoid OF ANNA.
tioa and entirely wanting in outside support
that " tendency towards improvement, under the pre-
waiting monetary and the enlarged railway cara
tngs s checked Pross 10 10 noticeable. are neverthe
less slow to YIELD aud Is probable that many OF those
Who are carrying stocks at the present time will never
sal until they are compelled to by the withdrawal OF
monetary facilities and decline ia pricez This Ia not
likely 10 occur for perhaps couple OF months TO CONS.
and meanwhile upward movement il likely 70 take
place But such the rsks Of speculation that we by
% usans advise the public to buy.
Ths week opened on Q very easy money market al.
though thsre transactions at the exceptionally
low rates which accepted In instances from
the dealers In government securities Saturday Loans
were made mixed coaterals s per cent and on
governments at while the principal houses dealing
in The latter continue TO be supplied at per cent BY
partially Offset by remitAuoes from the West Day for
goods bought in the Eastern cities whl.s the Southern
EchAn2os slightly In favor. The discount line
affords very little employment for capital the amount
II good commercial paper Offering being limited and
only the best grade Is In favor st tbs bankers,
whore il passes at a per cent, accord.
ing to The length Of time i. has 10 run.
The amount Of produce paper being sent by the
Western banks for discount here is very small, aud 10
Invariably rated at per cent, the former finding
their profit in tho difference between this and the rate
oussn. Ia the Western Cities which generally per
cent The statement OF tho associated banks OF this
city for tia week ending on the Sist Of August is
the imperfect returns OF Saturday led the street to
pec but still IL indicates opposite movement to that
ehown the two preceding returns and is calculated to
encourage the bulls the Stock Exchange The legal
tender have increased So D72 54 the deposits
$214s2if, and the specie s1,2 600, while tho loans
and discounts have decreased s2s2O,ol5 and
the circulation s21.12l The increase in the
legal tender notes sufficient TO account fully fer
the disbursements of the Sub Treasury during the week.
owing to tho fact tia, these made largely in
tiona bank and that portion Of the scyen-thiry
notes aud compound Interest notes redeemed sen.
here from the country for collection and the proceeds
promptly drawn against RENTED. Tho increase in
specie is d.. TO sales by the government OF its
current receipts at this port The shows that the
banks have legal tender reserve, including specie
which is sl90os,9s0 larger than tho law requires
namely twenty-five per cent on tho net deposits and
circulation The actually amounts TO 1G5
while she legal requirement 10 only s5dlo5, 1856. The
totals Of the present and preceding statements stand