The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-06-21
PRIcEs OF STOCKS rs LONDON ON FRIDAY EACH WEEK
Bk Stock .aprH7. May May la May 70 May % June
e ]. "s * ~: ,s%S ,s 80; ~ ~ s s's
India bonds, Dim II 70 GO SO Al
Exchqr bills. 60" IS 63 so 81 40
Duch5 II gyX IOOH lO01s lOOL 1901. 100


alone fell 80 cent in few weeks ofwhch per cent
was during the Irish debate This fall makes difference
in the capital Of the per cents 500 O0O The Bank
stock also fell Oft heavily but India bills and Exchange
bills show the heaviest fall The Dutch per cents
shower the contrary improvement and most of the TO
reign stocks firm, particularly those of the United
States, which advanced in price, The Bankers circular
attempts aay the panic by ascrbng the fall foreign
operations in English stocks. 1t remarks
I" The old back bone Irish orangemen in public life
treat the Irish cammoton as vapor we hope as such
will pass away and leave atmosphere
opinions OF very extraordinary race Of men, who know
Ireland and the Irish thoroughly"
He then attempts to account for the fall in consols as
follows
Consols have been sold at fraction under e5 for mo.
ney. This shows very considerable decline and as
opinion of its differs in respect from all
others have heard assigned, we must explain it. We
ing attitude assumed by Mr. OConne the stoppage of
country banks the servian question may all have contr
buted in some degree to the effect but believe the
main cause to be this When the great capitalists of Pc
tersburgh. Vienna, Berlin, Hamburger, Frankfort, Am
sterdam Paris &C. heard the intention of reducing
Three-and aha per cent stock they perceived at once
this could not be done without rise in the price Of Con-
poured in money to effect this rise and sustain it. This
caused the extraordinary influx and retention Of bullion
has dsspated the speculation of reducing the interest
stock, and the continental specuators selling out
to invest in something at home with which they
familiar on the continent.
What the amount may be which has been so invested,
not by the ordinary operators the MARKET since Christ
mas. man tell believe ii amounts to several mil
lions sterling II our explanation of the matter be
rect we shall see the foreign exchanges decline in
sequence OF the large remances wanted 10 be transmit
ted to the continent and further decline in the value of
Consols may be nationally expected.
fithiswere the true operation would have af
feced the price ofconsols particularly and Simultaneous
y with theannouncement ofthe Budget but the fall
general and not until three weeks after the announce.
ment The Bank would also show depletion of specie
consequent upon the fall if its repeton had been caused
by the rise On the contrary the bullion has greatly in
creased showing that panic caused the fall of stock ard
the deposite Of the proceeds prior to investment in Uni
ted States stocks if the difficulties increase, again in
consols if confidence is restored.
The feeling in relation to the United 81 aes and Anne.
rcan credit is fast dying away lives only in the CO.
umns of rabid and i'll informed prints Intelligent and lead
ing capitalists that the crisis has passed. and
that SO far from losing money by the American revuon
they WILL in the end be great gamers The crisis here
is past and henceorth the will be upward and
all the quicker for renewed confidence there The large
houses Of London loaned immense Of money on se
curities of all kinds when the the loan were not
complied with They foreclosed and bought the sccuri
ties at very low prices Those securities are now rising
in value and will become immensely profitable to the
London houses and English brokers will ultimately get
the plumber. As instance, the New York Merchants
Exchange building cost 81 ,OOO half of which was
american money. The whole concern is now in the
hands of Barring Brothers, because they advanced $780,
oOo and when improving trade improves the value of the
property they will have the whole benefit the expense
Of the New York merchants.