Year: 1860

The New York Tribune of this morning says


The slaughter of the innocents" continued the
morning Board day, and still lower prices were
touched for nearly description. The feature of
the market yesterday the large proportion of
stocks sold for cash. showing the strong necessity which
induced the sales. SiXty.day contracts now falling
due at prices ranging from 10 25 per cent higher than
up their stocks and they must be thrown on the mar
ket any price, thus aiding the downward movement
This fact, with the using of margins continues to
supply more shares than the market can absorb and
hence these tears. 1t is generally thought that the
weak parties have been nearly cleaned out during the
last thirty days, and that the panic, having
material to work upon, will abate; however this
may be- there is evidently to-day accession of
buyers for cash. buyers who have the money with which
to pay for stocks, without to loans and who have
confidence that the political skys will clear up and
that stocks are cheap at present prices if they
not. These buyers daily Increasing in numbers and
think it requires but moderate CLEAN of light from
the South to bring about entire change in the tone of
the market and bring the public and the street rabd
TO buy they have been for week two past to sell
The active today and the short line of the
street is probably very small 1t almost impossible
to execute time orders on buyers option without paying
exorbitant differences.


merchants stock brokers' but it is evident that the
inability to bills receivable continue
long without producing commercial disaster.


Dispatches and letters received to-day from Charleston
are more encouraging. leading banking house has
of that city will not suspend and that business generally
is going on smoothly.


The n. Y. Commercial says:


There to be little change in the money market,





bank officers at least such of them have had
sion to speak WITH to regard the present aspect of
affairs likely to be of only temporary duration In the
street there ndisposon operate, and the
irregular ranging from to twelve per cent,
with very little paper that will go at the lower rate and
large sales of prime reported at about
nine per cent.


There is more currency foreign exchange
ing and hear of some business doing but the market
irregular Some sales of Bank of Charleston and other
strong South Carolina bank bills have been made at 1OGX
G1O7 while New York city bankers selling at 107(G
1O7H On Paris 5f.l9K (G5f20. For bills on Hamburg
there is good demand at 37G36H Amsterdam Al y;
There appears be no settled market for Southern
tank notes. and there are very few OF them offering
among the larger purchasers of uucurrent money.


The Bank returns, the specie line, says the New
York Times reflects the movement last week of gold TO
the cotton ports The decrease is about million of dol
lars rather than anticipated though still leaving
strong average for this of the The Loans
and Discounts are comparatiyey steady The Deposits
off in proportion the difference between the falling
off in Specie and the moderate addition made to the dis
line The latter is probably declining
present from the curaiment within few days of the
demand accommodations on stock collateral.


We learn from Tucketts Insurance Journal that the
Hope Mutual Insurance Co., located in Walnut street.
Philadelphia, is going into liquidation, cancelling its
policies, and returning unearned premiums The Hope
has transacted fire and marine insurance. but lately has
confined its business chiefly to fire risk The
signed by the officers of the institution for the winding
up is that the business does not pay at present rates of
premium.


The New York Express of Tuesday evening, says
The Southern banks sending here Cotton bills of
exchange, with bills Of ading attached, fof SALE and



These drafts often accepted by their correspon
dents here because there is much difficulty in negotia
ting such ILLS of exchange and the consequence is that
the Southern banks, having checked for them their
corresponding banks here our tcity) banks have to
honor their checks This cuts OF the city supply
ney in New York for ordinary purposes. Hence, the
brokers checked, and there is q rush to the
banks. Even drafts on wheat from the West when for
sale in Wall street, are with difficulty cashed.


The New York correspondent of the Philadelphia In
quirer, writing under date of the 18th, says


The panic spreads. No public announcement has yet
made of two heavy failures here to-day but the
comes in such shape that feel authorised to make
the statement.


The first large New York house which has succumbed
under the pressure is that of Bruf Brothers Seaver
hardware merchants The began to float about
city yesterday and although not formally announced up
to this hour is well understood in business circles.


The next to go the large drug house of Parker,
Penfod Mower. This firm lost very heavily last week
by fire in their establishment in Beekman street.


The liabilities of Bruf Brothers Seaver, stated
at S750000 with assets to onehaf this amount
The supposed to be firm, but largely
gagged in the Southern trade-amost exclusively soand
the agitation prevailing at the South, together with the
stoppage of the money circulation there has rendered it
impossible for the firm meet its obligations, it goes
to the wall 1t is hoped thl the suspension will be
ly temporary.


The Philadelphia Inquirer of to-day says


Money market continues very unsettled and ties
rapidly advancing. 1t impossible to give any quota
tions which would be fair index the rket although
heard of good names going to-day ut from to IL pei
cent


The Boston Courier of Tuesday says;


To-day have experienced the very dullest market o
the season, and tinctured with panic feeling
extent The moderate list of sales nearly all at lower
figures and others offered freely, without takers.
tendency to still lower figures, with decidedly
settled market.