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COMMERCIAL CHRONICLE AND REVIEW.

PROGRESS OF BUSINESS-IMPORT-EXPORT&DOMESTIC PRODUCE - APPROXIMATION OF EXPORT:

TO IMPORTS-EFFECT ON EXCHANGES-LARGER PORTION OF BREADSTUFFE-TABLE OF EXORTSGRAIN AT THE WEST-MILWAUKEE-CHICAGO-RAILROADS-RISE IN VALUES-ABSORPTION OF FUNDS-CAPITAL AT CALL-GRAIN FOR FREIGH2S-NO SPECULATION AT THE WEST-MONEY IN THE STOCK MARKET-BANK LOANS--CONTRACTION COMPARATIVE-LOANS ON THE MARKET--RATES OF MONEY-REMITTANCES-STERLING BILLS-RATES OF KXCHANGE-CURRENT OF SPECIE-GOLD SHIPMENTS-SPECIE IN THE CITY-ASSAY-OFFICE-MINT.

The gen

Tue progress of business has been satisfactory since the commencement of the crop year. The cotton movement has been such as not to attract much money, and the grain export has been affected by the fluctuating news from Europe in regard to the extent of the damage done to the harvests. eral course of events has been to keep prices at rates which have allowed the produce to flow freely out, and, by so doing, to carry the exports of the port of New York to an extraordinary high figure. The summary of September trade, the details of which will be found in the usual tables annexed, has been as follows:

Domestic exports.
Total exports.

Imports. 1854...

$3,772,124 $10.864,731 $14,267,888 1855,

5,228,637 7,436,586 14,021,725 1856..

7,045,202 11,860,800 15,309,400 1857..

4,218,254 6,193,100 16,817,400 1858..

3,521,992 7,135,800 15,473,300 1859..

4,946,612 14,037,500 16,643,600 1860....

9,232,931 !3,658,700 16,260,500 The exports of domestic produce are nearly double those of the last year,

and also of the average for September of the previous seven years. This large export has been composed of breadstuffs to a very considerable extent; but it is to be observed that the exports of specie are nearly as large as in former years except the last, notwithstanding the large exports of produce. It results from this that the exports of this port are gradually assimilating to its imports. Thus, in 1858 the exports for the month were forty per cent of the imports. In 1859 they were one-half the imports nearly, and this year they are vinety-five per cent of the imports. Such a state of the exchanges of this city cannot but lead to abundance of money, since the equalization of the local trade of the city, by larger exports of domestic produce, throws a larger surplus of bills, based upon the Southern exports, upon the market. This feature has been ap. parent during the nine months, and the following are some of the leading articles that make up the increase :EXPORT FROM NEW YORK OF SEVERAL ARTICLES OF DOMESTIC PRODUCE FOR NINE MONTHS.

1858.

1859. Articles

1860.

1,012,666 663,223 1,269,687 Wheat .bush. 3,025,332 33,886

6,664,566 Corp...

1,578,898 168,790 1,889,321 Beef.

..tcs, and bbls. 48,604 65,074 79,911 Pork..

...bbls. 57,025 103,652 91,570 Bacon

100 lbs. 175,434 55,833 143,536 Lard.

95,280 63,623 130,845 Cheese..

28,110 50,000 187,609 Tobacco,

.pkgs. 50,965 54,304 65,457 manufactured.

.100 lbs.

32,293 42,183 52,771 Tallow....

17,055 17,701 94,916 Domestice...

.pkgs. 45,319 69,626 75,904

Flour.....

..bbls.

The forward movement of grain continues without much affecting the price, since the supply is held to be very large, and so manifests itself in the extended movement at the West. The receipts of grain at Chicago, Milwaukee, and Buffalo have been as follows, to October 1:

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The supplies this year are for nine months, against those of the whole of last year. The result is a larger increase, and it has come forward to those primary grain ports, over the various railroads, at falling prices, since the quantities to be carried on the lakes have sent up rates of freight, while there has been no answering demand at the place of destination to sustain the prices to a rate corresponding with the enhanced rate of transportation. There has, therefore, pot remained much over to the growers; but the grain sent forward has been applied to debts in a satisfying manner, if it has left little surplus towards new business. The abundance at the West is at all events satisfactory, since the wants of the South and East will be the more easily supplied. The moderate course of the crops coming forward in discharge of debts, without being accompanied by any speculative excitement that would attract much money, has had a tendency to keep money abundant on the seaboard, and the rates on short business paper are about the same as last year. At call there has been more demand for money, sirce the ease of the market aided the hopes arising from large crops, to promote a good deal of stock speculation, which has absorbed much money. In June, money at call was 44 a 5, and is now 61 a 7, a rise of two per cent. The rise which has taken place ia railroad stocks is as follows :

June 15.

October 10,

Capital. Price, Valuc. Price. Value. New York Central...

$24,182,400 81 $19,000,000 90 $21,780,000 Illinois

25,000,000 60 15,000,000 87 22,000,000 Erie....

11,000,000 17 1,870,000 40 4,400,000 Hudson River..

3,770,926 46 1,734,200 64 2,360,000 Harlem..

4,217,100 12 630,000 20 843,410 Harlem, preferred.

1,500,000 37 555,000 50 754.000 Reading..

11,737,041 40 4,494,816 46 5,382.000 Michigan Central...

6,057,840 46 2,760,000 78 4,200,000 Michigan So. and No. Ind..

6,081,800 10 608,180 24

1,5211,420 Guar. Stock 2,893,600 23 667.000 50

1,416,800 Galena and Chicago

6,026,400 61 3,750,000 77 4,620,000 Cleveland and Toledo...

3,343,712 30 1,010,000 47 1,551,000 Chicago and Rock Island..

5,603,000 67 3,752,000 58 4,360,000 Milwaukee and Mississippi.... 3,696,693

175.000 15 525,000

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Thus the speculation has produced a rise of $20,000,000 in the market valueof stocks, which, with the exception of the New York Central, pay no divi

dends. These stocks had been all exceedingly depressed, and, to some extent, dead in the hands of the holders as a consequence of that depression. A sum of $20,000,000 bas been added to their values, and, as a consequence, much of it has become active. This bas, however, absorbed a great deal of money in the hands of the public, and gives employment to capital of banks and individuals at call. The basis on which this rise in value was brought about was the presumed improvement in general business that was to grow out of the large West. erp crops. The railroads were, it was hoped, to do a large carrying trade, as well of the crops to market as of return trade, as a consequence of the sales of that produce. That the railroads have earned more is true, and the Western roads show, some of them, a considerable increase in revenue. This increase, for a few months during which the bulk of the grain comes to market, is not an indication, however, of the earnings for the year. The large portion of the business of the roads in former years was derived from passengers who were engaged in railroad building, land speculation, and other employments. This may pot return immediately, but the steady prosperity of the West may result more from the realization of crops at fair prices. The railroads are undoubtedly an important item in ber welfare; but the cost of these roads, many of them, was run up, by extravagance and worse conduct, to points too high for a regular and healthy business to pay. During the depression of the past four years a good show has been sought by keeping down even necessary expenses, and the first returns of prosperity are required to make good the neglected repairs of the past two years, hence the dividends that are looked for fade in the distance in many cases. The market received a strong hint of that nature in the unex. rected passage of the dividends of the Rock Island Railroad, after hopes of its payment had been entertained up to the last hour.

The absorption of money in the stock market, great as it is, has not materially affected the rate, although the bank loans have at the same time undergone a material decline. The highest point in New York city bank loans this year was August 25, and, as compared with the last year, the movement was as follows:

1857.
1858.
1859.

1860. August 21.... $116,688,919 $126,004,424 $119,541,070 $130,578,997 October 15.

101,917,669 124,216,701 117,289,067 122,307,138

Decrease ... $14,671,850 $1,787,723 $252,003 $8,271,758

This presents the curious fact that the bank curtailment this year has been half as much, in the business season, as that which accompanied the great panic of 1857, and which ended in suspension in the first week of October. The failure of the Artisans Bank accounts for $1,300,000 of the curtailment. There has been, undoubtedly, a considerable contraction of business attending the excitement of the presidential canvass, and the diminished demand for money for general purposes has resulted, while the supply on call has been the greater. There have been two loans negotiated : one of $450,000, five per cent, payable in fifteen years, of the State of New York. It was taken at 1.82 per cent a 3. A Floating Debt Fund Stock of the city of New York, opened September 18, 1860, redeemable in eighteen years, was taken at a range of 101.07 to 103.00.

The rates of money are quoted as follows :

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a 7

a 6

Apr. 1st.

a 8

..& 5
.. a 5

On call.
Indorsed--- Single Other

Not well
Stocks. Olber. 00 days. 4 a 6 mos.

good, known. Jan. 1st, 1859. 4 a 4 a 5 4 a 5 5 a 6

6

na 8 8 a 10 Feb. let..... 6

6 a 7 5 a 6 6 a 7 7 a 71 8 a 9 9 a 10 Mar. 1st...

a 5 43 a 6

44 a 54 54 a 61 6 a 7 7 a 8 9 a 10 4 5 a 6 5 a 55 6 a 64 65 a 7

8 a 9 9 a 10 May lst.

a 6 6

6 a 61 a 6 7 a 9 9 a 10 10 a 12 Jup. let...... 6 a 7

64 a 7 7 a 8 8 & 9 9 a 10 10 a 12 July 18t.

5 a 6 6 a 7 64 a 7 7 a 7 8 a 9 10 a 12 12 a 15 Aug. Ist..

6 a 7 7 a 8 64 a 7} 7 a 8 8 a 9 Il a 13 12 a 15 Sept. 1st.

54 a 6
7 a 8 6 a 7 7 a 71

8 a 84 11 a 14 12 a 16 Oct. lst..

a 7 6 a 7 61 a 7 7 a 8 8 a 9 10 a 12 12 a 18 Nov.let...

a 51 6 a 7 64 a 7} 74 a 8 84 a 9 12 a 15 12 a 18 Dec. 1st....... a 54 6 a 7 6 a 7 7 a 81 8 a 9 9 a 10 12 a 18 Dec. 17th.... 54 a 6 6 a 7 7 a 7} 7 a 87 8

a 9

9 a 10 12 a 18 Jan. 1st, 1860.. a 64 63 a 7 7 a 7} 74 a 8} 74 a 8 9 a 10 12 a 18 Jan. 15th... 7 a 7a 7 a 74 8 a 9 9 a 9 9 a 10 10 a 11 15 a 20 Feb. lst.... 6 a 64 7 a 74 8 a 9 9 a 95 9

a 10

11 a 12 15 a 20 Feb. 15tb.... 5 a 6 6 a 7 7 a 71 71 a 8 84 a 9 10 a 12 15 a 18 Mar. )st... 5} a 6 6 a 7 7 a 77 7} a 8 8 a 91 10 a 12 15 a 18 Mar. 15tb...... a 5} 54 a 6 6 a 7 74 a 8 81 a 9 10 a 12 15 a 18 Apr 1st.... a 54 6 a 67 54 a 6 6 a 64 65 a 71 9 a 10 Il a 13 Apr. 16th...

a 53 6 a 6$ 51 a 6 6 a 664 a 7 9 a 10 11 a 13 May 1st.

5

a 5+ 6 a 64 5 a 6 6 a 64 65 a 73 9 a 10 11 a 12 May 15th 5 a 6 6 a 61

5 a 6 6 a 7 64 a 74 9 a 10 10 a 12 June 1st... 44 a 5 6 a 61 5 a 6 6 a 7 64 a 71 8 a 9 9 a 10 June 15th 47 a 5 a 6 4 a 5 5 a 5} 51 a 6 6 a 71 8 a 9 July 1st... 6 a 54 54 a 6

5 a 6
54 a 6

7 a 7} 8 a 9 July 15th... 5 аб, 5, а в

5 a 6
54 a 6

7 a 78 8 a 9 Aug. 1st.... 5 a 6 6 a 7 5 a 6 6 a 6} 64 a 7 7 a 8}

9 a 10 Aug. 15th....

5} a 6 6 a 7 6 a 61 6 a 7 64 a 71 8 a 9 9 a 10 Sept. 1st.

6 a 7 7 a 9 6} a 7 7 a 9 8 a 9 9 a 12 12 a 24 Sept. 15th..... 6 a 7 64 a 7 7 a 7} 74 a 8 65 a 74

9 a 9 10a 104 Oct. 1st.......

64 a 7
7 a 8
64 a 7
64 a 7 8 a 81 9

a 10

12 a 20 Oct. 15th..... 6} a 7 7 a 8

64 a 7 8 a 81 9

12 a 20 These show a considerable and steady advance for long time paper not • giltedge,” but for business paper there was latterly rather a scarcity. The ease of the market facilitated, to a considerable extent, the remittances on account of importations; but the supply of bills was equal to the demand, and rates were rather on the decline than otherwise. The market for sterling has shown a remarkable steadiness since May, the rate hardly varying from 94 a 9%, against a range last year of 107 a 104. Tbe rates have been as follows:-

RATES OF BILLS IN NEW YORK.
London.

Paris.

Amsterdam, Frankfort. Hamburg. Berlin. Jan. 1.. 9 a 99 5.188 a 5.174 418 a 414 414 a 41} 364 a 364 73 a 7

15.. 8} a 9 5.21} a 5.184 411 a 414 411 a 411 365 a 368 734 a 735 Feb. 1.. 87a

9

5.180 a 5.17 411 a 411 41% a 414 368 a 3tige 73 a 734 15.. 8} a 9

5.18% a 5.174 41% a 411 414 a 413 364 a 364 733 a 735 Mar.l., 8f a 9 5.17} a 5.15 4if a 414 414 a 41} 36% a 36} 75% a 731

15.. 88 a 8 6.174 a 5.155 415 a 414 415 a 414 36f a S6# 731 a 73 Apr.l.. 8 a 87 5.184 a 5.161 414 a 418 411 a 41$ 365 a 364 735 a 735

15.. &fa 83 5.164 a 5.177 418 a 411 418 a 11$ 365 a 361 731 a 733 May 1.. 97 a 97 5.134 a 5.12 41a 414 41% a 42 364 a 361 734 a 734

15.. 98 a 9f 5.134 a 5.131 41$a 413 411 a 42 364 a 37 784 a 731 Jun, 1.. og a 94 5.135 a 5.124 411 a 415 411 a 42 37 a 375 734 a 731

9 a 94 5.134 a 5.124 415 a 414 41} a 42 364 a 375 733 a 731 July 1.. 9 a 97 5.134 a 5.13} 41f a 414 41} a 42 364 a 37

734 a 733 15.. $a 97 5.134 a 5.13} 414 a 418 419 a 413

364 a 37

731 a 731 Aug. 1.. 9 & 9} 5.134 a 5.131 415 a 414 415 a 42

364 a 37

734 a 731 15.. 9$ a 10

8.134 a 5.135 414 a 413 414 a 42 361 a 37} 734 a 731 Sep. 1.. 94 a 10 5.148 a 5.133 418 a 413 41% a 42 365 a 37

73% a 734 15.. 98 a 9} 5.143 a 5.13} 41 a 414 418 a 42 365 a 367 735 a 731 Oct. 1.. ja 9f 5.154 a 5.144 411 a 414 414 a 414 365 a 363 783 3 734

15.. 87 a 9 5.17% a 5.15$ 411 a 414 415 a 411 36° a 364 735 a 755

64 a 7

a 10

15..

The shipment from Boston during the month of September was only $61,841.

These rates have had an influence upon the specie movement, which has, however, this

year been moderate, as well in receipts as in export. The great source of gold supply, California, does not now demand so much merchandise or prcduce from this port as formerly, and, as a matter of course, the current of gold is less deep or rapid. In respect of breadstuffs, the current is reversed, and wheat comes now in large quantities and of a character fitted for the foreign market. It is a white wheat and hard. In years like this, when food is in demand abroad, and England must buy it and give gold for it, it answers all the purpose of gold to send it thither from the gold countries. The specie movement has been as follows:

GOLD RECEIVED FROM CALIFORNIA AND EXPORTED FROM NEW YORK WEEKLY, WITH THE AMOUNT OF SPECIE IN SUB-TREASURY, AND THE TOTAL IN THE CITY. -1869.

-1860.

Specie in Total Received. Exported. Received. Exported, sub-treasury. in tbe city. Jan. 7...... $1,052,558

$85,080 $7,737,965 $25,000,699 14.... $1,376,300 218,049 1,788,666 88,482 7,729,646 26,470,512 21..

567,398

259,400 8,352,485 27,585,970 28.

1,210,713 467,694 1,760,582 81,800 8,957,123 29,020,862 Feb. 4..

606,969 94,569 427,457 9,010,569 28,934,870 11.... 1,319,923 361,550 1,476,621 92,350 9,676,732 29,464,299 18..... 1,013,780

592,997 10,012,572 30,603,762 26..... 1,287,967 358,554 1,393,179 202,000 8,955,203 29,729,199 Mar. 3....

1,427,556 382,503 667,282 8,734,028 81,820,840 10...... 933,130 307,106 1,198,711 115,473 8,237,909 30,139,089 17......

870,578 152,000 429,260 8,099,409 31,271,247 24......

208,955 895,336 465,115 8,122,672 31,408,876 31.... 1,032,314 1,343,059 155,110 706,006 8,026,492 31,447,251 Apr. 7....

576,107

310,088 7,562,885 30,162,017 14...... 1,404,210 1,637,104 1,146,211 630,010 7,714,000 31,640,982 21. 1,496,889

241,503 7,531,483 30,764,897 23...... 1,723,352 1,680,743 1,455,337 1,774,767 7,668,723 30,848,532 May 5.

2,169,197

2,355,117 7,041,143 30,856,889 12...... 1,480,115 1,926,491 1,382,753 633,881 6,639,414 29,319,801 19..... 2,223,578

1,251,177 6,864,148 30,599,341 26...... 1,938,669 5,126,643 1,519,703 1,317,773 6,982,660 30,414,433 June 2.....

2,325,972

1,719,138 6,621,100 31,196,557 9...... 1,513,978 1,877,294

1,542,466 6,620,622 30,406,203 15.....

1,669,263 1,385,652 2,526,478 6,426,755 30,537,000 22.. 1,620,731

1,417,767 6,326,894 29,677,815 29.. 2,041,237 1,861,163 1,541,580 1,962,776 6,253,357 28,717,607 July 9..

1,398,885

1,166,773 5,187,468 27,939,162 14.. 1,736,861 2,495,127 1,514,884 1,283,135 5,404,367 28,156,061 21..

2,030,220 673,290 1,624,280 5,432,789 28,876,433 28.. 2,145,000 2,344,040

1,880,497 5,112,942 28,212,668 Aug 4......

1,284,855 988,676 1,739,259 5,559,922 27,688,011 11...... 1,860,274 1,505,389 1,006,283 1,35?,198 5,732,534 27,312,274 18...... 1,594,933

2,183,281 5,902,350 26,911,000 25...... 2,126,332 1,584,879 798,832 1,730,696 5,985,545 26,105,279 Sept. 1......

*962,030 509,649 950,000 1,302 266 5,607,627 24,642,700 8...... 2,046,006 2,363,385

1,198,893 5,333,650 24,721,300 15......

1,760,331 791,660 1,088,923 5,636,367 24,597,300 22.. 2,042,363 2,727,194

633,843 5,448,804 24,435,400 29..

1,414,590 1,202,657 900,700 5,228,432 25,400,400 Oct. 7.. 72,350,670 727,981

689,419 4,991,575 25,139,300 15......

1,883,670 1,430,833 1,971,645 16,679 4,496,881 24,770,669

Total..... 34,315,004 60,156,641 27,606,761 39,668,991

* From New Orleans.

+ $300,000 silver from Mexico.

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