The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-01-22

philadelphia Agents OF the Herald, AlcDer
received Single copies for sale daily after
the arrival Of the cars
MONEY MARKET.
Wednesday, Jan. AIS r. M.
The stock market appears 10 be in very depressed
state Long Island fell of to-day per cent; Canton
Norwich and Worcester Morris Canal Harlem Rail
road /; Reading and Illinois closed at yeSerdays pri
ces The sales were limited, and can expect very
little activity in the market until the steamer arrives
The excitement among the stock spectators, within
the past few days. growing out Of the Erie Railroad
corner, has been very great The decision made on
Monday in the upper board or the blouse Of Lords"
upon case involving about $500, has given the re-
cevers momsntary victory. but the impression s that
decision upon other cases, about being brought for
ward will be the Of the first The lower boardor
the "House Of Comm takes part in the questions
although many Of the members may be indvidu
ally interested in the result New members OF the up
per house made before he Erie Railroad resolu
ton up for final decision in the same manner that
Ministry of Great Britain make Peers for the House
Of Lords when they wish to carry through any parcu-
lar measure.
The leaders among the stock SPECTATORS in
Wall street, the houses of Jacob Little Co., and
Samuel Jaudon & Co. The first named house was
for many years previous to the great revulsion in COM
mercial affairs well known throughout the country as
exchange brokers. In 1897 when the United States
Bank exploded, Little & Co. became bears in the
stock market, and operated very extensively for a
fall in stock up to le4l, whom prices for stock
touched bottom, and revival commenced, when this
house changed its policy and operated largely for
RISE or in other words, became bulls Jacob Little,
the senior partner in that concern, is of tho
clearest headed fnancers Of the age and usually very
correct in his views of the movements going at all
times, affecting commercial matters. His in
business is the best evidence in the world of his tact
and talent He 10 the master spirit of Wall street. The
house of Jaudon Co into existence after the
plosion Of the old United States Bank. Mr. Jaudon
formerly cashier and foreign agent of the bank and
sided several years in Europe where he formed many
valuable financial acquaintances; and having been
brought up the Bidds school, possesses considerable
financial ability His partner Mr.. Stebbins, for
mery teller in the North River Bank, and exhibits
high order Of talent in his present business Jaudon
have taken different view Of public affairs to that taken
by Jacob Little Co., and have within the past four 81
five years been large operators for decline in stocks,
anticipating another rsvulsion in commercial affairs
break down similar to that of 1897. The gradual but
steady Improvement in everything since lsll, shows
that Jacob Little has been right in his views, and the
other house wrong The operations of Jacob Little
Co.'s have been very successful from their commence
ment up to the recent meeting Of Congress- when the
great change in political affairs produced very great
change in commercial affairs and the BEARS headed by
Jaudon Co., obtained the ascendancy, and have from
that time to this maintained their position
The stock operations Of these houses have been
by the views each have taken Of the Of
public events. They have frequently been opposed
each other and in instances considerable feeling
has been exhibited in the Of their efforts initiate
and depre prices These feelings have been exhibited
very recently to greater extent than usual upon
differences growing out of the Eric Railroad corner, in
which Jacob Little Co. were shorts and Jaudon Co.
receivers The position il. which these were
placed upon this question: the large amount at ISSUE and
the bitter feelings created by the successful operations
Of Little Co. in Norwich and Worcsster-and the large
amounts paid by the bears the bulls in that stock
ded to bring forward opposition from the receivers
that bid fair at time to create dissolution of the
boards.
The difficulties growing OF this Erie Railroad COZ.
nsr have not been settled yet; every contract will be
contested by the shorts BEARS at the head of which
stands Jacob Little and the receivers get the advan
tage Of him in this matter they will have cause for CON
graduation.
The Long Island Bank has declared dividend
three and half per cent payable the I'd Of February
The Greenwich Insurance Company, ave per cent,
payable on the I'd Of February.
The Utica and Schenectady RR - per share payable
stockholders in this city, at the Phenix Bank on the
LIST Of February.
There appears to be considerable doubt in the mindi
Of cotton dealers and others the effect Of repeal
Of the laws and the opening Of the ports Of Great
Britain to free trade in corn upon the consumption
price Of cotton. There doubt, to begin with, bu
that repeal Of the laws Of Great Britain will 70
duce the price Of breadstuf to the consuming classes
that kingdom and that the condition Of the operative be
comes therefore much improved Should the msnufactur
even reduce wsges in proportion to the reduction
the price Of breadstu the operatives would be benefit
ted BY increased employment the manufacturers cou
AFFORD the article at less price, and the eonsump
ton increase at home, II did not elsewhere. The opin
ion in Great Britain appeared 10 be very general that the
manufacture corporation Of cotton goods would b.
very much increased by repeal Of the corn laws. Al
increase in the consumption Of raw cotton, must have
favorable effect upon prices particularly at this time,
tho extent Of the crop coming to market bids fair Of be
ing less than last years The estimates oft yisd hav
recently been much reduced and those calculating upo
crop Of two millions Ave hundred thousand bales, hav
come down to two millions three hundred and nfty am
four hundred thousand bales Notwithstanding all tn
reports put into circulation By the bears and bulls in tn
cotton MARKET all the estimates Of YIELD and all tn
stories about floods and frsshets the extent Of the
ceips Of cotton at the principal depots Of the South
depends almost entirely upon the price the Liverpool
market There be difference Of at least one hun
dred and fifty to two hundred thousand bales in Ii
extent Of the crop, made from year to year. merely
prices The planters more able to hold nov
than they have been for many years before and unle
prices in the spring and throughout the season. come
and sustained at remunerating point the receipt
At the various ports will be very much reduced con
pared with last year. The receipts in ls4s were,
doubt increased many thousand bales by the advance
prices In the spring, and cotton growers bscom
prosperous BY keeping clear Of speculation, they will
more able to hold and unless prices come up to fair
point, the manufacturers will have to
dnce the consumption The fact that supplies will
kept back, while lew prices continue will carry the
up. The power to regulate the market remains in ii