The New York herald., 1845-02-08

MONEY MARKET.

There quite an improvement to dayin the stock mar
ket-Stonington advanced per ct; Mohawk, I; Canton,
Ii Longsland Il Farmers Loan Il Illinois, l; Kentucky,
1; Ohio Ii Harlem, /; Norwich and Worcester and Nor
rs Canal closed firm at yesterdays prices Pennsylvania
5 the only stock in the list that fell off from yester
days prices We notice sale o this stock at 10 per
cent seller twelve months This is four per cent below
the price current TIE recentimprovement in Ili
nos has been produced by the receipt Of advces from the
Legislature of that State favorable to the completion Of
the works of internal Improvement Of the State and the
passage of the several bills under consideration
horizing increase of taxes &c Within the past few
weeks there has been advance in quotations for the
special bonds of Illinois of cent? unusually rapid
Improvement for a State stock.
The Money Market is evidently easier. The banks
discount freely and the rate of interest in the
to-day, is about six per cent. II is the gene
raj opinion among operators, that the high rates
for sterling exchange now currenf, cannot be sus-
ained and that the immense amount OF cotton bills
in the market must find purchasers and thus relieve
the banks and the money market from the restrictions
that have lang existed Should the anticipated ad-
vices from Liverpool in relation to cotton he favorable or
should the last accounts in regard to prices be confirm.
ed the credit Of bills drawn shipments Of cotton,
must at once be sufficiently established to induce those
making remittances, ito take them. When money is
and commands than the legal rate Of interest,"
those obliged to make remittances Europe are often
compelled to purchase bills ofsxchange credit giving
as security their bills receivable Those msking an
operation of this nature would generally remit cotton
bills The foreign exchange market must soon be 70
lieved, through the operation of other movements
Bills Of exchange drawn actual sales OF cotton in
Liverpool must be as good any Of those dawn by
agents Of European houses and bills Of exchange rawn
shipments of cotton must be worth very the ce,
il drawn fairly, and not above the market value Of he
staple in Liverpool Amidst the whole of the revulssn
in the cotton markets of this country and Of Europe there
has been very little trouble experienced from the return
non-payment of cotton bills They have generally
backed by good houses who have protected them at
maturity and prevented endorsements.
Our late advces from Liverpool state that the impress
sion among the heaviest operators in that market was,
prices for cotton had touched bottom that the quota
tions then current would be sustained matter what
the supplies from the United States II this be 30,
there be risk in freely remng cotton bills of
change to lquidate Indebtedness abroad but the
trary, they would be entitled the confidence OF the
commercial community
The importstons into this port for January shown
by tables recently published very large and Is
possible the receipts may continue equally for
time to come bnt from existing indications ef
the opinion that will be very difficult to nnd markets
for the supplies Our obbers have determined not to do
large business they have for the past two
They yet u doubts to the value Of their sutstsnd
ing debts particularly those due from the south and wes
and until their bills receivable prove better than antci
pated win feel little disposed to extend their business
Aivces daily received from agents travelling through the
and southern country very unavorabe and
coming to hand at this time will influence the principals
here in purchasing stocks for their spring trade The
supplies Of foreign manufactures daily coming into this
market can not therefore, under these circumstances,
Hni very ready SALE and must ultimately, induce the
manu- uacturers abroad TO withhold further supplies
we annex statement showing the arrivals and clear
anccs at this port for the week ending the 7th ns with
the aggregate tonnage, distinguishing the nag
| COMMERCE or THE PeRr Nrw ycRx-wrrx xxpISo
FEB Il 1915.
scLEARANcEs.