The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-07-12
MONEY MARKET.
MONDAY. July II-6

MONEY MARKET.
Monday, July liz p. M.
The business the stock board has been exceedingly
small this morning. but prices have not altered much.
Harlem improved per cent Mohawk l. Farmers Loan
fell J. Delaware and Hudson I.
The position of the Harlem Railroad is little curious
rumorcd that certain brokers claims against the
road for $4,000, which they agreed compromise for
5000 600, provided the Company would supply them with
900 shares ofthc stock which agreed to- now
supposed that an injunction will issue upon the
ives, &c. with view to get in the stock Tho Company
has OF late been in great drepute and the price the
stock was very low until large buyer appeared recently
in the market His purchases have not run The stock
higher than twenty although they relieved the market
rom the large quantities with which the brokers were
added Yet, Of late, stock issued in has made ap-
e'rancc. This stock has apparently been held
nent until the present operations have brought out
howing but very little confidence tho part ofte hold
rs
The branches of the State Bank of Illinois, at Mount
armel jacksonville Bellevilc Chicago and Lawrence
ilie have been discontinued The circulation of that
ank the editor of the Alton Telegraph states on the
uthority Of Director has been refused to 81 300 Oo0
his rotten concern which cannot pay its debts has just
ompetod banking house. at expense of $40 900
The Ohio Life Insurance and Trust Company have de-
Jared dividend of three and half per cent pay able
The difficulties that have long existed between this
ountry and Grca. Britain appear now to be reaching
isis Lord Ashburton has been here nearly four
onths amusing the public and the truth which was
st pected is beginning to leak out viz that h,
no powers whatever to settle any questions in dispute;
at his mission is an unauthorized humbug. In our ar
rlc of March 4h, expressed the feeling the sub
ct as follows
The fact of the appointment of Lord Ashburton
pkci upon evidence of the determination Of the
tsh Government not to yield inch Of their claims
her upon the disputed territory, the right of search
IN that nothing but the most strenuous and subtle means
uid succeed in preserving peace upon those grounds.
y, and that settlement is percmptorily demand
the right OF search is set up as new pivot on which
quarrel must turn"
After great deal of expense parade and false represen
ion, the organ OF Daniel Webster has the following
far from the North Eastern Boundary question
disposed Of by giving the United States the navigation
The river St John to the aud all that piece Of land
wen the present Maine boundary line and the st John
er, including the city Of Fredericton the capital OF
W Brunswick, Lord 4shb.rtoas Instructions lam sorry
learn forbid him from yielding inch of what is reeos
ed British territory. He could not have sde the
nored negotiation fhe would
There have, however, been no negotiations upon the
ndary question, and my apprchensions re that
be malo by Lord Ashburton, unless his instructions.
ich now tic his hands, give him more freedom Of
This IT, doubt, the true state of the This man
selected agent because his moneycd interests III
nection with this country guarantee that he
ui exert himself to the utmost to maintain peace
terms which marked down for his observance
from which he could depart. All the desire Of
,and TO maintain peace depends upon her getting
at she claims She fervcnty desires peace no doubt
,er own terms which are the submission of the United
eto her claims. The present condition ofthe Federal
eminent may. in Lord Ashburon's opinion, be favor
time to- those Claims has Doubt his
eminent accurately informed of all that tronspires
.hisgon.
article Of Sunday, alluded to the probability
export during the next year of large proportion o.
surplus -four of the country at 81 so per Dbl. This
the rate which the large exports Of took place
uniting to $40 100000. The low prices of that year.
the eaecs of large crops The natural result was
prices reached point here at which flour
me profitable the shipper to send it abroad, it went
rye quantities. This reduction ofthe supply at hsme
ed prices to rise and throughout last year they did
20 lower than SO 90. at which price they now stand.
large supplies Of the crop, will probably sink
ate stated to 81 So If at that rate large guam
exported in exchange for foreign merchandise
Price will, under that effective demand again rse to
in the home market. II, however, through the
alton of a restrictive tariff causing difficulty in pro-
~ returns, -four is exported the surplus rcmsh,-
IN hand at home, may sink the price to 50 90 in the
ntc ports. This is the inevitable operation of the
OF trade. Our remarks of Sunday drew the follow
office from paper supported by the advocates of
he many for the benefit of the few.
G reader hardly fail to reflect that when Flour
be largely exported from this city 81 per barrel
rice Of wheat cannot be than 7sc at Buffalo,
Chicago and Michigan City, so the Ohio and
ssppi, and 25 to 81 in the interior of Ohio Indiana
illinois AT many points of the interior. it will not
,rth % cents other Agricultural products proper
Now few shipping merchants may possibly do
business IN exporting produce at these prices but
fractures and Improvement prosration in Agricul-
Contraction in trade for a. such prices for their
zee the Farmers can pay for very few goods nor can
hire laborcrs any liberal wages. The country
uy $50 coo 900 of Foreign Manufactures with 10 600
rrels of Flour instead ofreceving so per cent more
liar goods of Home Manufacturers (at price per.
nomnny higher, but really much Iowcr) for the
amount of produce. II must be that the country be-
perceive and realize the truth on this subject.
tits apparently admitted, that fthe farmer gets but
per barrel he will not be able to buy much goods.
much necessary is it then, that he shou be
from high taxes thosc goods How absolutely
,ary that he should buy in the cheapest markets and
the sales of his -four much as possible Thisis
yer but a small consideration in comparison with the
scd prices Of -four in the home market always pro-
by the export Of the surplus. The quantity Of
consumed in year by given population, is very
a fixed quantity. If surplus OF 10 ,coo,Oo0 barrels
produced, and the morket restricted to our own
~ that 10 900 600 ofbarrels will be absolutely value
Il. if exported and $50 100000 Of foreign manufac.
ecey ed in exchange It becomes clear increase Of
cath of the country. The increased supply OF
caused by those imports will compel the home ma.
urcrs work cheaper turn their attention to
lore profitable business unless IN arbitrary tox in
,pe Of high duties is levied in order to compel the
ner to pay for that which they purchase
is another consideration, however, which works
benefit Of the manufacturers. It's that the ability