The New York Journal of Commerce of Saturday afternoon has the following:
We regret to notice increased disquietude in financial circles, and the tone of levity and ridicule with which our political troubles have been treated in certain quarters, does not prove to be particularly re-assuring to the public mind.
There is no scarcity of money but rates are very unequal, while the chief difficulty is less in the rate than in the disinclination to transact business on any terms, which is everywhere apparent.
The rapid decline in Stocks since the election has induced lenders upon these securities to call in their loans, for fear of losing their margin, and this has added to the prevailing excitement.
Foreign Exchange is very irregular, and unsalable at any reasonable price.
Prime bills equal to leading bankers at 60 days on London
, were sold this morning from second hands at 107½, and there were no buyers of the best sterling at anything over 107½.
The stock market gave evidence of a continued panic, the decline having continued, and the business was limited less by the want of eagerness on the part of sellers than the backwardness of buyers, the latter having it very much their own way. North Carolina
State 6's advanced ½.
We notice the following additional declines from the lowest sales at either Board yesterday: U. S. 6's of 1874 declined 2; Missouri
6's ¾; California
7's 2: Ill. Cen.
bds. 1; La Crosse
bds. 1; Penn
. Coal 1; Pacific Mail 1½; New York Central 1¾, recovering ¾; Erie
2; Hudson River
1; Harlem Pref.
1¾; Reading 2¼; Michigan
Central 2½; Michigan
Southern 1, on old stock, and 1¼ on preferred; Ill. Cen.
scrip 2¾; Galena
1¾, recovering ¾; Chicago
and Rock Island
1. In a few cases the decline was greater than quoted, the closing sales being, occasionally, a fraction above the lowest point.