The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-27
MONEY MARKE EFT.


MONEY MARKET.
Monday, Feb. 26-6 p. m.
Stocks were very heavy to-day. Ohio 6s declined
per cent; Kentucky !; Mohawk /; Farmers Trust t.
Pennsylvania SIS advanced Indiana /; Harlem Ii Canton
1; North American Trust Iii Norwich 4. Long Island
and Illinois closed firm at Saturdays prices The sales
were to a moderate extent.
The New York State Bank Of Albany has clared d.
vidend Of five per cent
The following offices had policies of insurance on the
property destroyed at the late fire in Rome NJ W The AL
bany Company about $4,000; the Howard New York
about $4,000 the Hartford about $1,000 aud the Oneida
County Mutual $500.
The receipts of specie New Orleans the l4th and
10Th inst amount all Of which down the
river.
The immense receipts at our Custom House for duties
on imports and the great value of the merchandise that
produces this revenue is of the utmost importance the
government and the community The quantities of TO-
reign goods daily arriving in this country will
asurplus stock and fill the market with supplies greater
than the heaviest trade anticipated can reduce.
The receipts at this port from customs, for the past
week. amounted to $685. s7 This is only little
than ha1hose Of the week previous The this
falling of was the non-arriva of packets not
ing in during the week.
REVENUE FROM CUSTOMS AT THIS PoRr.
Total receipts for January, 1884, ST. s74 $50
from LIST to Oath February. 2Ol6 5s7
Estimated receipts from Oath Feb to March st SUI 900
Total receipts for the first two months in 1874 "a 269
This averages more than two millions month. II is
estimated that the average duty paid the imports of this
year will not vary much from thirty three per which
will make the value Of the imports up the LIST of March
little than $4,000 This only the value of
the dnabe imports Merchandise entered free will swell
this amount very much Within the time this has
been accommodating there has beenwo arrivals from
ton-the cargees of which very valuable and COM
posed principally of free goods There has also been
several arrivals from South America and the West India
Islands from which places largo of merchandise
imported paying duty. The value of all these car
goes added to those paying duties will increase the
amount Of impoatons within the past month to nearly
$20,oOOO00.
The annexed table will show the movements in the
commerce of this city,
ARRIVALS AT THE PoRT New YoRK FROM THE 10th TO
From Foreign Ports
Man. Man. a siT Man. : ss rsss:
81 sSdsS Anne. Bsfsa. and ao s;assSo%
W Tes" II G I;s.| "a Dundee
Total foreign,.
=, From Domestic Ports.
Mobile :..:....a chaH 1lna@ .' ...:.s
Apal chicola. ...l9 St Marks, TOTAL. ....is3
VesSelS-tn0se
der the head Of domestic arrivals bringing principally
ton and provisions Those under the foreign head
made up with every variety the market requires The
cargoes from London, Liverpool and Havre are prnc
paly dry goods and taken from board ship imme
dIately on her arrival and brought into market The
manufacturers Of Great Britain through their agents IN
this country. are kept thoroughly acquainted with the
state ofrade in all markets. and they avail themselves
oft first symptoms of scarcity to ship large lots.
anticipation of demand. The invoices of these goods
are placed in the hands of auction houses who ad
vance them twohirds the cost and hold certain
time for orders to SELL They usually forced into the
market early in the season. the result of which that
before the regular trade actually there
are any indications to the extent of the seasons bust
ness-the jobbers get large stocks hand The great
abundance here has induced auction houses
10 oer advances on any quantity Of consgn
ed to them Private commission houses have done the
same thing. Money being very cheap funds could be
raised to advance to any EXTENT and manufacturers avail
ed themselves of this position of the market get rid of
their old stocks The houses this sde that have ere
ated these eavy mportatons get their commissions for
advancing and selling which is all they wish Whatever
effect may have the market will fall on the heads OF
those standing between the and importer The
fall prices Injuries them than the first owners for
the manufacturers get rid of their heavy stocks early in
the before prices begin fall off The same method
to l this market with foreign manufactures prac-
tced in 1885 and 1886 and the result will be the same
it is carried to the extent The regular local mpor
ter can only govern the market should be- BY living
on the spot and understanding what the demand s or
likely to be, he produce corresponding supply and
keep prices steady II ia necessary for his own safety
that there should be fluctuations. By keeping the
market regularly and abundantly supplied every thing
continues in very healthy state credits are not
oversrained, inducements for speculation suffered to
exist We cannot expect the accomplishment of SO desi
rable thing when the manufacturers of Europe use this
market for the purpose Of getting rid of their surplus
stocks when auction houses flooded with goods
to sell for the most they will bring; but any price, to be
Sold is impossible for obbers to resist the temptation
that is in this way almost daily laid before them Goods are
sold cheap long credits given and every facility is held
to induce them to purchase This leads extensions the
part OF the obber. He finds large stock hand which
must be paid for within certain time and he very
full not to let customer slip through his banda Every
country merchant urged to make large bill posi-.
ble additional credits given inducemen prices redu
ced every expedent adopted thin the with
out the slightest regard to the safety of credits time Of
payment The whole object is do as much business as
possible, and outsrip their neighbors In short time
this course leads to bankruptcy is the inevitable result
OF such policy We think have traced this directly
from erimportatons Every element Of trade reminds
us oil the incpent stages of the last revuson and If the
presensmovements keep on things will be ripe for
pio'on IN the course of two three years The revul
SION ha' came to crisis in 1897 commenced in 1891 and
ie'' hs' oil 1873 commenced in 1927 and 1893 takes
TWO or three years to bring the whole 10 head
Old Stock Exchange.
!ssS g 'ha' s:r"' TT &c &c TX