The New York herald., 1844-12-23

The variation in the quotations for OHIO 6 from Satur
day last to Monday, caused by the closing OF the
books and the deduction OF the dividend The sales be-
ing now made with the January dividend Of three per CT
off,
We have heretofore alluded TO the prevailing mania
among men engaged in pursuits to involve
themselves In stock speculations In times of general
commercial prosperity when every element Of trade is in
sound condition, we occasionally hear failures among
the merchants. These caused by immense losses in
Wall street, by paying up large differences in stock ope
rafons This business Is pursued extent that those
out Of the Of the boards OF brokers have yery
limited idea Of the differences on some thousand shares
OF fancy and other stocks held young merchants who
are the ones usually led into the vortex 6en large
enough to bankrupt week. houses heretofore having
high credit and large stated that an in
stance will soon be made public, through one Of our
courts, which will create considerable excitement in
some circles is impossible to tell how long any mer
camille house is worthy Of credit that deals stocks
Their legitimate business may be sufficiently productive
to give those interested moderate fortunes in time but
lew unfortunate operations in Wall would not only
take away the profits arising from their business but use
up their original capitals and make those engaged bank
rupts The plucking Of these adventurers comprises
the profits Of the brokers' 1t is for the interest of the
members OF the brokers' boards encourage these move
mens It is necessary for their existence that these Gus
should be LOSERS out Of them they earn their
bread and butter
We should think this subject would attract the atten
ton Of the older mercantile houses that they would
adopt measures to discountenance and discourage the
ruinous practices o the younger branch Of their class
Wall street is very dangerous place. Many men Of
age and experience have been ruined by the temptations
there offered The first cause OF nearly all the deiaca
tons, &c OF public and private officers Of governments
and corporations is the inducements held engage
IN stock specula0ns, and when those acquainted with
ell the twstings and turnings Of operations nWa street.
are pucked of every dollar how possible for those
without experience TO escape?
By the arrival Of the steamer Acadia al Boston wa
received commercial advces from Liverpool the 4th
nst and from all parts Of Europe accounts fifteen days
later than those by the previous arrival The cotton
markets we're in very depressed and prices very
much reduced. The stock in Liverpool was large and
supplies constantly arriving in large lots. The heavy
stock on hand with the prospect OF such crop as was
never before known depress the market still farther
We cannot see the slightest favorable prospect for this
staple but the contrary have doubt but that prices
VIII touch lower point than ever before known. The
impression in Liverpool is thatour will exceed
600 bales this with the stock hand and the crop from
other places will swell the supplies full four millions OF
bales for the year. In the lace Of this fact cannot be
otherwise than that prices should fall below
rating point It will be seen by the annexed table that
the the United Kingdom this year has been
27 American, 629 426 Of all Sorts in 1914
/ l,3al,ala ditto l.6oa.770 ditto in ls4s
The stock on the 3Oth November was
Bags 602 400 American 972 900 OF all sorts In 1874
| 4s6,7O0 ditto ISL 500 ditto in lSa3
The quantity taken for consumption
Bags l02 AL American, 3Os 5s6 Of all sorts in lsa4
l,O4i,ss2 ditto 1887 ,s5s ditto in ls43
Admitting the increase in the consumption for sa5 to
be arge any previous tme estimate the
total demand from in Great Britain exceed
800 900 bales which, with the consumption in the United
States and on the Continent may require supply Of
500 900 baesleavDg, at least stock Of 900 bales
at the close OF ls45 We, therefore, the concu
sion that any improvement in prices out Of the ques
tion and the planters must make up their minds that
| heavy losses will fall upon them.
The London money market continues very abundsnty
supplied with capita seeking investment, and the
interest much reduced. The Bank Of England has re.
duced the rate Of interest for loans to u per
rites commanding high prces Consols were quoted
at ol to lot for money and lOi to 1919 for the
American stocks unusually dull and quotations
show decline The result Of the Presidential election in
this country has destroyed what little confidence existed
in the good faith and ability Of the delinquent States
fulfA ther obligations. The election Of Mr.. Polk ID
loo ked upon being very unfavorable the interests
those holding State stocks We table giving the
quotations for these stocks in London at different