The Daily Dispatch: November 26, 1860., [Electronic resource]

The Baltimore Exchange, in its commercial report, Nov. 23, says:

‘ The week closes with the exhibition of a much more cheerful and hopeful feeling among the business community in relation to commercial and financial matters, than was to have been expected in the early part of it. The expansion of Bank facilities, which followed the suspension of specie payment by the various banking institutions, has in a great degree relieved the money pressure, and confidence is slowly but steadily being established again. Financial affairs to-day are in much the same condition as they were on yesterday. The Banks in pursuance of the policy which was indicated when they suspended, continue to discount quite liberally, and there is in consequence comparatively little paper offering on the street, for the reason that almost anything that will go on the street at this time, will be taken by the Banks in the regular course of business. The nominal rates for first paper on the street to-day are 9@12 per cent. per annum, but anything but strictly first-class paper is altogether unsavable. The community here was considerably startled this morning by the announcement that the old and respectable banking-house of Samuel Harris & Sons had been obliged to succumb to the pressure of the times, and stop payment. Had this event occurred previous to the Bank suspensions, it would doubtless have added greatly to the panic; but neither the stock nor money market has apparently been affected in any considerable degree to-day, by the failure of this house.

The stock operations this week have been heavy, the aggregate value of the transactions at the Board being about $600,000, but for nearly all the principal securities prices have fluctuated very much.

’ The New York correspondent of the Philadelphia Ledger, writing on Friday, says:

‘ There is a more cheerful feeling in Wall street to-day, resulting from the absence of fresh sensation dispatches from the South, and the liberal movement on the part of the city Banks, which are discounting with greater freedom, and thereby coming to the rescue of the merchants. The applications for "accommodation" are very numerous and very urgent, but it is given out that nobody that has anything like decent security to offer has been turned away with a denial.

Private dispatches have been frequent between the Bank Presidents of Boston and our own in the course of the day. The former give assurance that if the latter can ride out the gale, they will be able to keep afloat.

Several additional failures are reported this afternoon, the most important of which is that of J & E. Wiley, wholesale grocers on Front street. Their liabilities are said to amount to about $500,000, but are well distributed.

The Southern and Western exchanges are still in a very deranged state. Some drafts were made on Philadelphia in the course of the day, at from 1 to 3 per cent. Western currency shows little or no improvement.

It would seem to be the general opinion now, that things will work on pretty much as they are at present until the assembling of Congress and the election of delegates to the Columbia Convention, when, with the generating of fresh political and sectional excitements, new panics, new fears and new disasters are inevitable.

The private letters by the Africa are not specially encouraging for American interests. The continued drain of bullion from the Bank of England, the advance in the rates of discount, lower prices for most descriptions of breadstuffs, with a decline in the leading United States securities, (though partially recovered just before the closing of the mail, are unfavorable features. The news arrived too late in the day to have much influence upon our local markets.

’ The Philadelphia Ledger of Saturday says:

‘ The banks are doing very little, and we presume will not venture much, if at all, until it is seen what the success of the effort of the New York banks to pay specie may be, and until the political movements South assume a more pacific character. The suspension of specie payments is taken very quietly by those to whom the banks are debtors — note holders and depositors. The most complaint comes from debtors to the banks, who insist on further accommodations. What may be done ultimately in their behalf, we cannot say — as yet, however, the banks, we learn, are pursuing pretty much the same policy as before suspension, except that they pay out coin only in small amounts, as the necessities of the case may seem to require for the supply of change.

The banks, on Thursday, before suspension, paid out about half a million in coin. The Farmers' and Mechanics' lost about $90,000; the Bank of North America $60,000; the Girard Bank some $30,000, and all of them more or less, to the amount of about five hundred thousand. The large amount paid out by the Farmers' and Mechanics' was not in consequence of any greater press for specie at its counter than at the other banks, for the crowd was greater at the Bank of North America but because the paying teller at the former was more prompt in meeting the demand — he wasted no time in unnecessary examination and counting, as was done at some other banks. Notwithstanding heavy payments on Thursday, the banks are still flush, as was proved yesterday at the Girard Bank, by the payment in gold of a draft of the State for $70,000. This was a heavy sum, but it was promptly met, as was also a draft for $5 000 by the Farmers' and Mechanics' Bank, on a draft from the same source.

The domestic exchanges are so much deranged that we find it difficult to arrive at any quotations, except on the following more important points — New York exchange is quoted at 1 ½@3 per cent premium, and Boston @2 ½. Baltimore is at a discount of 1 to 3 per cent. The wide difference between the buying and the selling rates proves how very unsettled the market is. The notes of our interior banks were bought yesterday at a difference of 2 per cent, in city bills for all current bills this side of the mountains, and at 3 per cent. for all bills issued by the banks west of the mountains.

American gold is bought in small amounts at 1 ½ to 2 per cent. premium or, what is more truthful, the bills of the city banks, with which the brokers buy gold, are at a discount of 1 ½@2 per cent.--Gold is not at a premium. For small lots the lowest difference is allowed, but for large lots of large gold. The difference is 2 per cent in favor of the gold. The selling price is 3@4 per cent difference against the paper money. Silver is worth about 1 per cent more than the bills of the Philadelphia banks, which, by a sort of common consent, are made the standard by which inferior paper and gold are measured. The bills of our own banks are what is termed currency, and every thing else bearing the name of money is worth more or less.

’ New York. Nov. 24.--Flour is firm — sales of 10,000 barrels--State $4. 75@4.95; Ohio $5.30@5.40; Southern $5.20@5.55. Wheat is firm — sales of 15,000 bushels Chicago Spring at $1 10; red Western $1 25 Corn is firm — sales of 15,000 bushels — yellow Southern 67c Lard is dull. Pork is firm — mess $16 75@17. Whiskey is dull at 19 ½@20

Philadelphia. Nov. 24.--Flour is quiet at $5@ 25. Wheat is steady at $1 15@1 27 for red. Corn has a declining tendency — prime old yellow 55--Whiskey is selling at 20

Mobile, Nov. 24.--Sales yesterday of 3 500 bales cotton at 10 cts. Sales for the week, 23,500 bales; receipts 26 000 against 25,500 same period last year. Exports 14,000 bales. Steck 139,000 Dales. Freights to Liverpool 17.82@9.16; to Havre 1@3 16 Sterling Exchange 95@98; on New York ½@1 per cent. prem.

Charleston, Nov. 23.--Sales to-day of 2,500 bales of cotton; market unsettled.

Baltimore Cattle Market.

Baltimore, Nov. 23.--The offerings of Beef Cattle at the Scales yesterday, amounted to 1400 head, of which 250 head were driven to Philadelphia and New York, 53 sold to country graziers 150 left over unsold, and the remainder purchased by Baltimore butchers at prices ranging from $2.25 to $3.75 per 100 pounds, and averaging $3 12 ½--a decline of fully 31 ¼ cents per 100 pounds on the rates of last week. The market closed dull and heavy to-day. Sheep $2.50@$3.50 per head, as to quality.--Hogs show a decline of 25 cents per 100 pounds; sales have been made this week at $7@$8 per 100 pounds for good to prime.