The New York herald., 1844-07-17

dividend OF four per osnt for the last half year. New
York stockholders 10 receive their dividend at the Bank
Of the State Of New York. on the ist Of August.
The very advanced rates ruling for foreign exchange
particularly for bis London, sustained in great
measure by the efforts OF large stock operators in this
1t for the interest Of every large stock specu
lstor that the price OF exchange should rule below
specie point t. prevent the shipment precious
metals and the panic that would be created by heavy
ports ofspece The object tokeep down the quotations
exchange to KEEP up the quotations for stocks
Ts do this they 90 far to buy up bills their
account, and job them out at fraction less than
They must continue this practice until exchange
down, ustl the new crops come into the market We
much doubt their ability to control the market such
length Of time. The most extensive bill drawers in this
market feel confident that specie 60 forward exten
svely before September Commercial affairs are at this
time in very peculiar state In consequence ohe revou.
ion in the cotton market and the immense losses that
must fall somewhere this staple it is impossible tell
who are solvent and who not The result OF
this doubt and suspicion is that very few houses mono.
police the foreign exchange business in this Market
Those making remances very shy of cotton bills
and will not touch anything in any way connected with
cotton operations At the lowest calculation the losses
the shipments Of cotton from this country-a large
portion OF which falls upon parties this side Of the At
antic-snce January will amount to full FIVE dollars per
bale The total shipments from the United Great
Britain, up to the latest dates bales
Of this quantity would be safe to estimate that full three
quarters Of the shipments have been made since Jan t
ls4a More than three hundred thousand bales
ceived at Liverpool in month"; consequently cannot
be far out OF the way to place the shipments of cotton
from this country to Great Britain since January at
bales this quantity average loss Of So
bale, would amount to the sum OF 81, SOC, 900.
This loss is created by the difference between the cost
and expenses Liverpool and the current prices in
that market This amount falls upon parties here and Is
large enough to make many spectators bankrupts.-
Merchants making remtances to Europe want to know
who suffers this immense loss before they invest large
in cotton bills hence the high price Of good
exchange and the limited supply Of first class bills In the
market large proportion of the amount invested in
exports consequently remains dead capital until the
markets abroad revive returns be realized in
other shape Before the crops forward the
losses attending the shipment Of the old wiped cut
the demandor exchange may be heavy enough require
large expectation Of specie. From the nature Of
orders going out and the recent departure of many
heavy importers by the steamers, are induced to be
leve that the fall imPortations will be very large.
We annex the ssmi-annual report Of the Banks OF
Maine, from the official report Of the Secretary Of Sate
ABSTRACT OF THE BANGS IN MAINE. FIRST MONDAY os