The New York herald., 1845-02-22
Comstock 3 Co.'s Concsntratsd Compound
MONEY MARKET.


There slight panic in the stock market day and
the quotations fell off from to 81 per cent All the fances
declined Norwich Worcester, per cent; s.onngton,
u; Morris Canal D Long Island ,; farmers Loan, ID;
Erie Railroad Il Canton Ii ylvania SIS, Illinois,
United States Bank closed firm at yesterdays prices,
and Kentucky 6s improvsd The sales Of fancies
quite large The only Of this great decline is the
reaction rising market invariably produces Yesterday
the advance quotations current the day previous
greater than the decline to-day and prices will
in all probability show advance those current to-
day Money is very plenty and the speculative excite
ment gu to strong and with the ability and the disposi
on to get up aspecuatiun there must be active
ment in stocks later Quotations fuctuate very
much just previous to steady advance and the market
for time generally very eversh but the excitement
prices become frmer steady improvement
ID realized until the bubble becomes too much inflated,
and explodes, scattering rua and bankruptcy among
those engaged in operations connected with the sPecua
tion.
We the reports of the banks Of this city
and State that very great contraction has been made in
their loans and discounts within the quarter ending the
LIST instant We have doubt these banks were induced
draw in their resources after the result Of the late
Presidential contest known 80 as to be In condition
to meet any exigency in commercial affairs that might
grow out of the movements Of the administration
Since the election the public mind has become
both parties have been able to look about them and take
calm view of political and financial affairs The result Of
this is the conviction that great change will be
made in our commercial systems; that the govern
ment will not change the present mode Of collecting
safe Keeping and disbursing revenue thet business
generally will be little effected by the change in the gov
ernment, and that prosperity will continue to smile
upon spite Of the wishes Of politicians and the efforts
Of few party mannuverers This being settled, the
banks Of this city and State have completely chenged
their policy and have been expanding for the rast two
three weeks They prefer loaning upon stock secu-
rites and refuse business papcr In every instance where
they can The banks consider stock loans safer and
profitable than loans the ordinary run ofcom
merca paper and therefore afford facilities to the bro
kers instead of favoring the mercantile classes. The
merchants in consequence compelled to 90 into the
with their bills receivable and in obtaining dis
counts submit to shave. We by this that the banks
Of this city at present almost exclusively devoted to
the interests OF the stock speculaors The condition of
the southern and western sections Of the country is at
present unfavorabie in consequence Of low price Of
their principal staples, that has affected the credit Of
the merchants Of this city doing business with those
sections OF the country and induced the banks to throw
out much Of their paper offered they All these
things favor stock speculaors and increase specula
tions while they to contract the legitimate bust
of the country and create ebarrassments among
these have heretofore been the best custom
ers of these banks.
Tho financial affairs OF the Auburn and Rochester Rail
road Company appear to be in very favorable and
porous condition. The receipts for the year just closed
have not only been sufficient to pay good dividend but
leave surplus. The construction of the road cost
$i,796, ,s4a.
Auburn AND ROCHESTER RAnRoAp.
Total receipts in 1874. .$237 667
Total expenses in 1874. ........... 5000
$l59 OO7
Two dividends, n per cent nt.............. IOsOOO