The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-06-22
MONEY MARKET.
Sunday, juno 2l-6 p. M.

There has BEEN during the past week, rather quiet
time in the stock market, compared with the week
two previous and only attribute the depres
sion caused by several very extensive failures In the pro-
duce business and the effect of these suspensions upon
the money market and upon public confidence The
of those who have become deeply involved
in the -four and produce specuatons be of very
alarming character; and under the impression
that many explosions among that class, must
before the is over take place. Spectators in
-four in all sections ofh country have experienced
within the past six months immense losses and we can
arrive idea of the extent referring to the for
credit and wealth Of those houses which have since
become insolvent Many of these spectators pur-
chased -four largely when prices ranged from six to
seven dollars per barrel; and shipments a immense
extent were made from this port to Liverpool at those
rates, and the sacrifices must have been enormous
We have fears that the suspension Of these houses,
will affect the strength of the banks particu
arly those situated in the -four manufacturing districts
Of this State they usually engaged in dscountng
the paper Of those engaged in that trade the mers
of those sections be very heavy sufferers by these
bankruptcys
The banks Of this city must have been large holders o.
this suspended paper, the liabilities of the recent
failures be in the aggregate much less than two
and half millions Of dollars; and there little doubt
that their losses in these nsancesiwi them moro
auctions which must operate unfavorably for that por
ton of the commercial classes depending upon bank IA
ciltes TO meet their liabilities, and in this way must tend
to restriction Of the money market This to certain
extent, and for certain time, will doubtless be exTe-
renced but the rapid depreciation in the price pro-
duce generally and Of -four particularly and the absence
Of every possibility OF an advance must bring those
who embarrassed from that cause very u
a suspension and the dificules will be speedily 70
moved II must require immense capital to stand
IF
Of -four article in which individual operations
very extensive.
1t is anticipated that the agricultural classes and those
engaged in the produce business, must during the
season be in very depressed condition: and tina The
barrassments of the producing classes will have en
dency to depress business generally, and that there will
be very little done during the next six months The
basis Of these sntcipation is the present reduced price
of produce and the probability Of abundant
causing still greater reduction We do appreheni
any difficulty from this abundance of the
necessary articles Of food produce distres.
among any class; the producers obtain reduced price
for their products the additional quantity makes up for
thu deficiency in prices while the other hand the con-
Stunning class which in this country ID a very
large one, is much benefited by the low price Of cro-
visions They able to Of the other nes
cessaries Of life and in this way make up for any
cheney the producing classes may have been the
of the average is thus maintained, and the commercial
classes do not feel any bad effect of the
any class may be laboring under. 1t is perhaps
going too far to anticipate any embarrassment
among the producing classes from an over supply o.
agricultural products, and reduction in prices whs
is lost in price is made up in quantity and in many in
stances where the producers ablc hold for ad
the surplus production favorable than 9th
crwise. Those disposed to look upon the black side
things, and whose interest lays in depressing public
fdense, may make great efforts to get up panic bu
we not yet disposed to look upon abundance Of
the necessaries and luxurics Of life evil and
not but consider them blessings, tending to amelorate
the condition and increase the prosperity Of all casses
We annex comparative table exhibiting the quo.a
tons for the principal speculative stocks in this market
for each day Of the past week. and at the close Of tho
week previous Prices have not varied much in the past
few days, but the market has been very unsettled and
quotations rather fevcrish Tho sales have been large
and large quantities of stock have been forced upon the
market.
orr