The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-22
FINANCIAL AND COMMERCIAL.
MONDAY, Sept. q. 1865 p.

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MONDAY, Sept q. 1866 p. NJ.
The gold market has been heavy to-day under an
active speculation for q fall, which stimulated
by reports from Washington relative to the adjourn
ment Of Congress- and after opening at 144'S there
was steady decline to 14sX, the closing transac-
tons prior to the adjournment OF the board at three
O'Clock having been 1t this figure following which
the price remained steady the latest transactions on
the street having been at l43A. report
was circulated to the eject that the Trea-
sury was q seller Of gold, but this Is
officially contradicted, and it is, moreover,
mtmated that the Treasury will not dispose Of any
Of its reserve while 1t remains at anything approach
ing Its present low point There was an active Dor
rowing demand for coin from the bears, and loans
were made without interest to either borrower or
lender and at ~ per cent per annum for borrow
ing and per cent for carrying. The gross clear
tngs aggregated $47,5ss.ooo tho gold balances
$l0sl, 247 and the currency balances $1,57so76 The
Sub Treasury disbursed 1885 In coin IN pay
nent Of interest on the public debt The imports Of
specie from foreign ports at the port last
week amounted to s10672S, making total
OF S. ,o45 since the LIST of January. The temper
OF the market still bearsh but 1t is so much over
sold, as the activity Of the borrowing demand de-
notes. that reaction in favor Of the bills is not i'm
probable and the margin for decline under exist
ing circumstances Is very narrow. The demand for
customs duties continues good but importers prefer
borrowing to buying gold for the payment Of GUS
toms duties and the mercantile "short interest is
large The general trade Of the city is
fully equal to the average Of late years
al this season; but the dry goods trade
today was dull and unsettled, the tendency
for domestic cotton goods being still downward.
The price OF gold varied at intervals as follows:- -
1910 A. M.......... 144H P. M............. 143I
1880 P. NJ. ......... IA $3.50 P. M. ..l43s l4sx
Money continues in abundant supply at three per
cent in large amounts on government securities and
four on mixed c0llaterals although the trust compa
MES and few other lenders ask five. This rate
ia, however exceptional. Commercial paper Is
in moderate demand and the best grade, of
which there is not much offering, passes freely at
q per cent. Bank officers report that there is
very light movement Of currency between East and
West and that there Is nearly as much returning as
there is being sent away. At Chicago Friday and
Saturday the demand for money was reported fairly
active but not pressing while at Cincinnati the
money market was comfortably easy, with business
quite active The receipts Of currency were
liberal and the amount Of paper maturing
large; but the currency was being ordered to
interior points, and the demand for loans kept up
the line Of discounts to the average while healthy
now SO near the first Monday in October the day on
which the next quarterly statements Of the national
banks will be made up, that there is probability
OF any monetary disturbance from this source, and
the banks throughout the country said to be in
good position to make their returns without any
special preparations therefor; and this, If
30, Is only as It should be, for these,
cooked are neither more nor less than
fraud upon the public. All the indications
tnue to favor an ample supply of loanable funds at
this centre during the remainder OF the year, and
people are at length becoming aware that the con-
ditions affecting the money market have changed
materially within the last year or two Contraction
has been long suspended that the business of the
country has become adjusted to the volume Of the
circulation and greenbacks are no longer
boarded in consequence Of dstrust of property
In general, while the government having ceased
to be borrower the power Of the Treasury to clock
up" greenbacks to any material extent has passed
away and lis reserve OF coin having been reduced
below The average it is debarred from converting
gold into currency. Meanwhile the fifty millions of
three per cent certificates are being exchanged
for compound interest notes as fast as the latter
mature.
comparison OF the statement Of the associated
banks Of this city for the week ending on Saturday
last, with that for the corresponding week in each
OF the three previous years shows the following
chaupes.-