The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-05-13
MONEY MARKET.
Tuesday, May l2-6

Tuesday, May 12-6 p. M.
To the atonishmont Of many the stock market to-day
very frm and yestesday's prices were in almost
cvery instance sustained The sales were large and
buyers found for every lot offered Pcnnsylvanis
s., Long Island, Norwich Worcester and Reading Rail-
road closed at prices current yesterday Harlem went
up II per cent and Canton II Farme r. Loan fell OF
per cent, and Morris Canal /. At tho second board
Norwich Worcester improved II per cent Canton !;
Reading Railroad Morris Canal, II Harlem, !; Penn
sylvania &c. l. The market closed frm at the advance
The war panic appears 10 have subsidized among
the stock spectators as rapidly 1t came up
Had quotations for fancy stocks been very much
inflated, there would without doubt have been
much greater panic than that realized; but the mar
ket has been for sometime depressed by the position Of
our foreign relations, and tho difficulties growing out Of
THIS Mexican business and prices ruled 90 low that tho
actual commencement Of hostiltes has not had that,
effect upon them that many anticipated There cannot
however be any improvement expected in the stock mar
kct, until some Of the difficulties with which we arc sur.
rounded arc remnved is the contrary.
possible that further depression may be exps-
nenccd, from the tghtncm a demand for money
from the Government may produce In tho market
The banks placed in very delicate position they
dare not increase their limo Of discounts fraction and
are making great efforts to sustain their present move
mont This market will feel the withdrawal Of the Gov
eminent deposits very much, and the Atlantic cities GO
morally must for time experience drain Of spsoie
for the purpose Of carrying the war; The pressure
upon the seaboard cannot however be but a.
funds taken to purchase provisions pay troops &C. will
soon nd their way back into the channels Of trade and
giva fresh start to businesa
The commercial classes win not bs 40 muoh embar
rassed by this disposal Of the surplus revenue a. they
would have been had the independent treasury bill
gone Into immediate operation and the government funds
been removed from the banks and locked up In thu
hands Of subtreasurs There every chance ofs now
being expended. and possible the government may
come into the market borrower On the LIST Of May
the surplus amounted 70 about thirteen millions
Of dollar have already appropriated: and
should the with Mexico be proract 3D. ten moro will
be required The banks viii not b In position 10 take
government loan capitalists never have been
disposed to take any that have been offered and they w
not do in time Of what they have refused in time Of
peace and the only alternative LEFT will be resort to for.
egn capitalists The Rothschilds have an agency here
and not improbable but that loan might be effected
with that house. It IL the impression that . -
we're pressure upon the money market would compel
the banks to suspend specie payments in which svent
they would take any loans the Government might 10
quire.
The Mexican government has sent an agent to Lon.
don to negotiate loan Of two millions Of dollars Ono Of
the 6rm Of Manning Mcintosh Of Vera Cruz bankers
passed through this city few days SINCE ON his way 70
England via Boston. for that purpose. While ct Wash
ngton he had interview with Mr. Pakenham who was
formerly British Minister at Mexico and from what we
learn, there 10 doubt but that the loan win be OBJ
tanned This with the excitement among the Mexicana
war will create, cannot but strengthen Psrsdsss gov
eminent and destroy all hopcs getting up another rsvo
luton While the minds Of the lower classes are filed
with they satisfied and do not dream OF rcvolu
tons.
The marine insurance companies Of this city
have just walked up. The war clause now socs
into nearly all tho new policies. We have NJ
least ninety millions worth Of property afoat In
distant sess. ct any moment subject to ssirure
capture unprotected and those having in charge k
norant tho existence of rupture between the United
ststss and any other couny Alta meeting Of the Board
Of Underwriters held this day 1t was "RssovedThst
war clause be inserted In all policies hereafter 70 b IL
sued on rsks taken under open policies to and from
ports beyond Cape Horn and Cape Of Good Hope to and
from the coast Of Brazil and from all pors In the Gulf
Of Mexico. TO and from Cuba and oil the wost India
Islands and on the Main, and I'll ports In the United
states south OF Savannah, and all annual policies"
CLAUSE.
warranted by the assured free from all loss damage
or cnsrye arising from, during, In consequences Of
capture SEIZURE restraint, blockade detention, 10
sumng rom war or hostties between the United States
and Mexico, or pretext thereof.
vail b observed thaA vessels sngsgsd In ths Euro
psss tsds ~ NJ e,uasd b his, but thsy no dOabt