The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-10-15
!.NaNcIaL AND CoMMER ciAL.

MONDAY Oct. 14-oP II
Go't after selling high lz5 the street. opc "a
In the Iilfs AID from point sold sfeadly
down 10 ~ under elect vi speculative oper ons
the bear side; bat the closing transactions were at
ifiA, although subsequently, the street sales nero
made At La The supply 81 larger IN proper
non TO tue demand than on Saturday, and loans we're
made without interest aad al per per anDuul
and l-S2 l64 per cent per dlen for borrowins. The
gross cieariugs amounted s63 30 00o tho gold bal
ances 10 $1,000, 100 the currency balances 10
SlS6d,64i. Tue failures the trade In
England and the enormous losses which has
tanned by cotton houses, which still suppo'ei
70 be solvent inspire that KIND OF dsrnst which gives
nrmness TO The sold premium, and the SIN declining
tendency OF cotton threatens eyeutaals III COM
nercia panic Hence bills Of exchange drawn against
cotton regarded vita extreme dptr 81 oy the
foreign bankers this side and tney difficult OF
Gale The collapse Of coln Campbell Co, aud T.
3 J. Rail- \ Co., cotton brokers, OF London
and Liverpool, calculated 10 excite alarm for The
ssfty Of other large houses OF similar standing. The
last mentioned has branch tLls ely under firm
name Rail- Co aud ano her a. Ne~ Orleans under
she style OF Ram, Beaachl Co. The foreign imports Of
specis The por, last week amounted TO as 01i
Tue stock market has been = state unusual
excitement all day and up four O'Clock when hight
pacuon set IT, prices sirsngly the ascendant,
With Erie ans Northwestern and preferred
the speculative faVorites. Tho emenis la III So
stocks based upon their value. but on
contrary upon their very doubtful value. Noue OF them
pay dividends, and l, is very uncertain wuen
toey will pay them, whether they will ever
DO so, under Their present management for
the directors appear have ambition tia,
uon, while they have decided desire 10 Gil their OVID
pockes by hook by Crook OF roads they pre-
side Tho Erie clique is TT, ing unload bu. in
order 10 do this IL has to keep tho
nrm, and It's object is to the price considerably
higher IL IL New YORK Central for The time
beng comparatively neglected because for a per cen,
stock It is hgh enough and hold they
can do better BY causing rattle among some OF the
dead bones OF the street ike the Northwestern shares
Tho rampant OF bulls say that tho rso
has only just commenced just they said Inc
fall mad just begun Ere selling al 80; bat
those who wise win not be found among toe buyers
Of stocks at tins present hgares, Tor tho simple reason
that they wii in all probability, be able 70 buy them
much cheaper before he month closes. There u no
outside demand for stecks, and the money marke, Is
gradually becoming moro active. Tho demand
very brisk un,i within few mlnu cs
Of three o'clock this afternoon. and many
houses had considerable trouble in making
mp their hank accounts. The rate seven
per cent without any exceptions in favor govern
nent securities; and dscouAls hardly to DO OBJ
tanned on the best grade OF commercial paper
Ja9 per cent the banks being pressed Tor sccommo-
datons from all quarters, and their
limited to allow them much option In the matter
The Sub-Treasurer. Mr. Van Dyck, received nstruc.
lions this morning 10 make informal demand upon
these from whom the Treasury received counterfeit
ssven-inriy notes. for reclamation, and no conferred
with them accordingly and will doubtless communicate
the result OF his interviews 70 tho Secretary OF the
Treasury. Tho parties concerned unwilling refund
shc amount II the spurious noles, but have made
forma deaia Of their liability yet The treasury has
announced that Ii prepared 10 thirty
notes OF the July Issues exchange for five
twencs Of 1861 charging interest upon he blDds from
DULY TO tho date OF per
rency and aiown. the la fun upon
seven-lnirty notes
The statement OF the associated city banks for tho
week ending the 12sn instant shows decrease OF
Slol 2S6 loans. $i3ii7ss In deposits s75s. 065
leaai tender and sl95iO in circulation, wulie
sho specie there Is increase OF s235, les. The
changes sufficiently important exert any
mora effect IN the money market the stock Ex-
change The totals Of the present and preceding
t.rNJf