The Columbian fountain., 1846-01-27
New York Money Market.

New York Money Market.
Saturday. January 24-6 ?. nj.
BY the arrival of the steamship Hibernia, at
Boston from Liverpool, we have advices from all
parts of Europe twenty-five days later than those
received by the ship Liberty at this port. All
have been very agreeably disappointed in the tone
and complexion Of the news, it being of highly
favorable character, in political and commercial
point of view, and must have yerysfavorabe ef-
feet upon our markets generally. The London
money market improved very rapidly upon the
re-establishment of Sir Robert PEEPS ministry, and
consols advanced three per cent above prices
ruling at the date of the resignation of the conser
vatye cabinet. This shows that confidence re-
turned with the old PREMIER and the re-establish-
ment of the government upon. the former basis
was looked upon very favorably by the financial
| and commercial classes. The corn law question
the principal topic in all circles, and the ex-
citement in relation to that measure was such,
that the Oregon question had been almost lost
sight Of The leading party papers, however,
have taken very favorable view of the Presidents
message, and all fears of war with Great Britain
are therefore at an end. settlement of the
question upon the terms proposed, viz the 49th
degree, is more probable now than ever before,
and the differences that now exist between the
two countries, are in fair way of being amicably
arranged upon the basis of comprehensive COM
mercial treaty.
The transactions in American securities in the
London Market had been, just previous to the de-
parture of the steamer, very large It is stated
that heavy amounts had been invested in state
stocks, for remittance to the United States IT, S.
SIS were quoted at 80; New York SIS and 6's, 88
Pennsylvania SIS, 62 "a; Ohio SIS and 6's 81
Indiana SIS, 81; Louisiana SIS, Barring s. Co., 80 a
80; Administering bonds-5's, IS II; New
York City SIS, 80 81; U. s. Bank, 2Os. The
large sales of American securities in London were
made on American account. 1t appears that large
orders from this side went out with the Presidents
message to purchase as soon as the effect Of that
document upon the market price of these stocks
had reached its height. Large purchases were
made to fulfil these orders, at prices, in some in
stances, several per cent. above those current in
this market. These operations had very good
effect upon the London market, as they created
confidence in these securities greater than before
| existed.
The continental money markets were in very
favorable condition, and gradually improving. In
Hamburg, where the rate of interest early in De
cember was eight per cent, the rate at the latest
date was only four, and the amount of capital
seeking employment was very large. The rail
way mania was rapidly declining, and it was sup
posed that the capital withdrawn from these in
yestments and the deposites on contemplated lines
will seek employment in commercial pursuits, and
possibly produce some speculative movement in
some of the staples.
The effect of the news upon our markets has
been Of the most favorable character It has
been greater upon stocks than any thing else yet
Flour and grain have been very little affected,
either in prices or demand Cotton has not i'm
proved much, though the news in relation to this
staple is considered highly favorable.
Stocks advancedto to-day several per cent. though
the advance is too rapid to continue, notwihstand-
ing the news is SO very encouraging. We antic-
pate reaction early in the week, after which
the market will improve more gradually, unless
our local affairs tend to depress it. Harlem went
up 81 per cent. Farmers Loan, 2; Norwich &
Worcester, S. Reading, %; Canton, 3; Long
Island, 80; Vicksburg !. The sales were very
large at the advance, indicating supposition on
the part of the sellers, that prices would not be
sustained
The bill to provide for the payment OF the pub
lie debt of Indiana, and for the completion of the
Wabash and Erie canal, has passed both Houses.
The vote in the House stood 81 to 49, in the SEN
ate 20 16. Before the act finally passed it was
amended SO that it shall not take effect until one
hall OF the outstanding bonds shall be cancelled
by being exchanged for the new bonds proposed to
be issued by the bill. The effect of this amend
ment is to make the canal pay for one half of the
principal OF the present debt, (excepting bank
bonds.)
The bill to incorporate the Richmond and Ohio
nairoau company was passed In the lower House
OF the Virginia Legislature, on Tuesday last, by
vote of II to 80.
The receipts of the Baltimore and Susquehanna
Railroad for the year ending the 30th September
last, were Sl62,O24 sc, and the expenditures
Sl3O,239 SO; showing an excess Of receipts over
expenditures, amounting to $50, ,558 49, Its total
receipts since its commencement up to the 4th of
October last, were S2,467, ,349 05, and its expen-
dltures Tor the same time were S2,279,225 81,
leaving balance of SlSS 123 lSs During the
past year upwards of fifty cars, for the trans
portation offreight, have been placed on the road,
and $4,000 of its net earnings paid into the State
treasury.-.N York Herald