The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-06-02
ALTON. FOR THE PR.scrrAL srocx. IN THE New Yonx

comparison of the quotations ruling at the close of
the market yesterday with those the Saturday
previous show decline in Long Island of per cent
Harlem I Canton l; Farmers Loan Norwich and
Worcester Ohio 6's Pennsylvania SIS Stonng.
ton I (; Erie Railroad I Morris Canal !. The only
stock that advanced vicksburg which closed at an
advance of per cent
The Patapco Bank of Mary land at Ellcots Mills has
declared dividend of three per cent for the last six
months.
The enforcement ofthe stamp act of Maryland is pro-
ducing quite excitement in Baltimore and several
points have been raised by legal gentlemen in relation to
of its provisions In order that its true construc
ton may be ascertaned possible the Executive
has addressed letter to the Attorney General the State
requesting him to have brought before the Court
of Appeals for its decision at the June term which will
embrace all the points of doubtful construction The
Governor specifies the following points =
lst Whether official bonds or any bonds with coate
raj conditions are within the act2
I'd. Whether certificates Of deposit issued by banks
embraced by the act
Sd. Whether bank in this State can draw check on
a bank out Of the State without stamp Vs.
4th Whether bills of exchange drawn by banks char
tered by this State require a stamp7
The Bank of Baltimore, although disposed to comply
with the law in its most enlarged construction has
agree to make case to test the question.
BY the arrival of the steam ship Great Western we
have advces from all parts of Europe thirteen days later
in
news is highly interesting and important The move
ments in the cotton market have been very extensive and
runous to spectators Previous the arrival of the
steam ships Great Western and Caledonia from this
try very large sales were made in Liverpool in antic
patton of difficulties with this country Tho sales ranged
from twelve to twenty thousand bales per dav AZ rc
current the 4h Of May the day of the Britann;a do
parturc On the arrival Of the Great Western on tho oh
oil May, speculation nearly ceased, but prices remained
Grx, ,,,k.I AZ
broke down and prices fell off full one.quarter of penny
per pound The decline very sudden and il is nos
sble later accounts received from this side confirmed the
decline and produced depression in the market eoualIv
as great as the previous advance In connection
with the favorable accounts from this side in rela
uon TO political affairs the reports of larger re-
ceipts OF cotton at the principal ports of this
country than in any previous-even the great cron
had very unfavorabe effect upon sales and upon pr
ces in Liverpool The speculation in this staple which
mas been SO suddenly checked was founded entirely
upon '"e possoty OF rupture with the United States
operators concluding from the reduced state of priccs
that no material decline could under any
take place while the possibility of the acknowledgements,
between the two countries leading to some da,cul,v
was SO great that the risk worth taking
remarkable fact that the excitement of speculation and
the large sales between the 9TH and the 9th Of Nav ,
duced no Improvement in prices. Holders having no
faith in the belief that the amicabe position of the two
countries was to be so suddenly destroyed were anxious
to realize and meet the spectators freely with supplies
aprices current on the 4th of May Tho advance wa.
very favorable for American interests as the loss fall,
upon second hands, who principally local specula
tors.
me London money market in a very easy cond
diton and the ratio of interest rules at about two and
hall per cent The falling off in the railway excitemen,
hao thrown upon the market capital seeking EMPLOY
ment in some other channel The railway az.
citement has reached its heighth and was stead;.
put gradually suosiding and it was suppo.
sea- would come downto very moderate level vpbor,
producing revulsion in the money market or anu n.
voraoe or injurious effect upon commercial aaa;r.
Inc decline in this speculation has reduced ~
price Oh IRON, as the anticipated demand for
raiis mas been very much reduced Holder. 81
American securities were very much alarmed ., ~
movements Of the British government in relation 10 49,.
msunoers'andng with the United States and were much
relieved by the complexion of the advices from ,h,.