The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-02-19

by this that the closing prices were higher than
at any time during the week. The usual fluctuations
have commenced again. and quotations more rule
high The late specuations in fancy stocks commenced
with the formation of the board Of brokers' and
been carried by those individuals who through the
bankrupt law repudiaed than 500 900 of debts
and whose total assets valued under 500 and
whose financial genius cannot be disputed These ndi.
vduals have through the mysterious influence Of what
called the Bourse, advanced the fancy stocks of
Wall street, such bank stocks, similar to the North
American Trust and Banking Co railroad stocks similar
to the Long Island and Paterson and insolvent state
stocks, such Indiana Illinois, Pennsylvania from
twenty to two hundred per cent, without adding one
single solitary cent to their actual value in any shape
but for the purpose of speculation Many these stocks
that have nominaly advanced so rapidly within few
months have in fact actually become less valuable that
time Many of the insolvent states whose stocks have
improved in price at both the boards of brokers' this
moment farther from sovency than they before the
speculation commenced. The quotations created by the
different operations that daily carried in these
stocks, by tho class of individuals above spoken
Of fictitious and far from being evidences Of value
They are all moonshne perfect bubbles and produced by
setof exbankrupts in conjunction with bank directors
who in fact are as equally nsolvent and Irresponsible
The movments in real estate for the week just closed
present some important indications of what the future
prices have advanced from the opening to the close of the
week. full l2a per cent Speculaons of this nature re
sembe those in fancy stocks than any other that &C.
ours to US at this moment The only evil effect of any
consequence that arise from speculative rise in this
species of property, the advance Of rents and this
very serious one. All classes interested in the
movement that produces this result The real value OF
property Is not enhanced one mill but purchasers under
the excitement compelled establish per cent for
rent in proportion to the cost of property. An advance
in prices created by repeated exchanges the same ar
tcle Is not founded legitimate basis and conse
quently does not produce the additional wealth it repre-
sents Real estate is worth what II under the ope
rations of specie currency. Any additional value to
that must be created by actual legitimate demand
arising from n scarcity of dwellings, or the gradual
growth of the city in which il is situated Speculation
never produces permanent worth The present spccua
ton going on in real estate, is conducted by individuals
of the same calbre that engaged stock
and is produced by sympathy between the different
movements.
These spcculations are like epidemics, and are
as contagious They regularly visit certain spots and
ANNALS like the yellow fever New Orleans or the
cholera in Asia. We shall wacl the developme nt of this
bubble, and record its progress.
Within the past week the Cotton Market has been ra
Their quiet in conseduenceof the expected advices from
Europe by the steamer. The shipments from this port
have lately been limited The stock is daily increasing
in this market and at the principal southern deposits
STOCKS AND SHIPMENTS AT THE Principal PoR1s.
Stock ErDorte