Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1837-07-13
N q NE Y M A n X Il T..
Thursday, July 13.

Of the American houses Our latest
left the Bank of England the midst Of very interesting dis
cuson on4he propety and policy of continuing aid
under present stale Of remances from this country Ac
cordng to opinions, is believed STILL Bank Of
England would the American houses 9th Of june
the trying day OF payment that shoad be the then
believed thoy would weather entirely
The remances in specie, which left New York after the 10th
OF May would present relief the English money
market render the future comparatively easy and tranquil
According to the best opinions therefore, in Wall street.
not only believed that houses have uccum
ed to the hurricane, but credited by many that the Bank
OF England will them through their difficulties Onthe
day after the arrival stated similar spnion and
reflection have satisfied that there foundation Tor such
belief II very suppose that the Bank OF England,
having work of salvation would not retreat
till effort further vailable
commercial relations with England, therefore
adepeate even the American houses
fall the present revuon. At this moment, immense
foreign debt has been iquidaed and in three
months be surprised TO efux of specie
wards this country The cndon and prospects cotton
market encouraging We have hand, in this
try appear by the annexed cotton report nearly $4,000
bales which be set down 600 cash. nearly
present prices In the of slight price, which
be produced by returning prosperity aggregate
will exceed that Take this connection with the re-
miances in specie, already made and the dminuen
ports probably equal to $5Oo0OO0O and there cannot be
doubt but the foreign debt cancelled less than three
months Under the present state affairs shipments
are rapidly making to Europe set of shippers have
come INTO the market and great operations going which
viii turn out very profitable those concerned.
La addition to this element in settlement foreign
debt there another weight mpor-
lance connected with the fux rehux specie,
best authority in Wall street informed that probably
two thirds OF all the specie purchased there foreign account
made up of small imported by foreigners arriving
this ciy-he other third from interior great
bulb OF the sellers of specie in bullion emgrans
VINO png over each small amount in gold-nany Span
iards and South Americans who bring their silver
vestment We know of $780, Spanish con recently from
aSfofe
The banks also in the MARKET privately purchasers
specie and we credbly informed aggregate
amount OF specie in the vaults Of the city
pared with the amount the 10th u least
What is the intention of the banks repenshng
Undoubtedly to be able specie during
sitting OF Congress said to be the positive intention the
government during the next session Of Congress- compel the
deposite banks refund dollar the debt they
Treasury in specie against
the denquen The eighty depoe banks entirely
hands OF Congress Their charters indeed granted by
state aon but Congress compel them refund the
whole surplus revenue in specie, crush fraudulent
conduct probable however, that this catastrophe may
be avoided if they fory themselves be able
specie payments in September October, Congress
meets.
Under this things large operators are firm
In the belief that shall the tide in few
months Is time that the nedeemabe paper system asten
ed upon for time by the Suspension Law
In -FOUR provisions and domestic produce system
not stand the test OF return to specie payments that should
take place in short time. Ii the Suspension had
passed. there be little doubt but conumable com
modies sold at h:h prices, would much
BY egalnng the suspension Of specie payments specua
tors IN bread stus have been enabled hold large
quantities. and thus prices aresh About the LIST OF
May hour wheat and other produce least per
lower than they The rise produced entirely
by the irredeemabe paper system
Yesterday the stock market board was oute
lively and stocks advanced This grows out OF the views on
the specie operations.
United States Cotton Market.
New YORK, July l2th 1897.
AT the request of large number merchants this
country and in England today daily report
ths Cotton market We shall publish, from time,
facts spring the Of the rise decline in article
and shall Also publish regunriy the quantity Of
Cotton in the States together with the plantation
daily import into the city and export We shall
ranged in tabular form, that merchants nmedaeybe
informed OF the quantity in each city, &C., &C.
rangemen has been mach wanted, and before aenp
oil In this country In England the merchant glance
exactly tell wha, is doing In the market We determined
MOTTO be outdone by English friends Our merchants
too secret In their business. Why don't they let what
DOING The city and country would be much benefited by
This the principal OF the present loss Of confidence
and unless they adopt different mode of conducting business
they will always be in snar We shall give publicity to
~ business transaction that under notice
Business done in this market since Friday last has been
Sales about 1900 bales ssl l. principal sales
lie The from Europe did not materially AFFECT
this market Transactions mostly for shipment. Some
very choice lots disposed Of prices somewhat higher
than above. Import since Friday isrom Florida io5
bales; Georgia 57i ba.s; North Carolina, 81 bales Total
1906 bales. Import since the lst-3iso bales.
The following the New York classification, corrected from
the da y sales that
cLAssvIcArlos.
Ord. 10 middDg, 7 a De-
bddiDg ~ fair, "a llc
Fair to good fair, IL l2.
Good fair 10 good prime, IL
Export from the United States since October is 1896,
10 date, l,vl2,2l2 bales
The following is statement Of the stock u Cotton on hand
at the respective places named;
New York. July 5,h 1900
Philadelphia July 9Th, 1000
Charleston, July dh, ly,nl
Virginia, March LIST, 1000
Savannah, July 9Th, 1853
Mobile, June Jlth l,o2
Hofrh Carolina Nav Oth
Augusta and Hamburg, July 5th, 9,Is2
n%con June gb. 1854
New Orleans June 2s,b a2,J57
Florida, June 2sh. 1900
Total I69,o59
together with about 5000 bales plantations amounts to
s6e bsesn the United States In week the whole stock
has been reduced SIS bales This shows that the Bank Of
the United States still In the market for well known that
private purchasers scarce.
The demand throughout the fair, and will upoubt
ed increase, owing the fresh spectators from