The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-09-20
NAVIGATION Of tho Ohio XIV
MONEY MARKET,

There has been great deal Of activity and excitement
in the stock market during the past week. there has
been something of revuson in prices. Several opera.
Tors have exploded and during the past day two
law clerks have been compromising and settling diff
ferences 1t announced at the close Of the market
yesterday that Of the extensive bulls in ar
lem had gone by the board-the enormous differences
having made clean sweep of their capitals Any num-
Der lesser lights have been e1nsushed and street
has been pretty we'll purged Of class of spectators
which has for time past kept the market con-
tinual fever Outside operators have suffered from
this class of operators than from any of
their relative to the state Of the market and the
prices and 1t would be great improvement to
to the character Of the street generally IL 1t was COM
pletely clear of this incumbrance
Prices for most of the fancies have nearly reached
their starting point They have nearly reached their
proper level and their value il somewhere in the
nelohborhood Of the current prices. Many Of these
stocks will be heavier at present prices when they
were twenty and twenty-five per cent higher There
is invariably, very little disposition exhibited to take
hold Of the fancies when prices range at the lowest
points but when they have advanced ten fifteen and
twenty per cent under the influence Of some movement
purely speculative the outsiders take hold Of them with
the Greatest avidty and purchases even made to
great extent for investment sooner does some fancy
stock commence advancing in the market price, than
the most extravagant stories freely circulated rea-
tive to sudden and unexpected increase in the
value Of the security which must carry up to par at
ones and, as extraordinary it msy appear many
have confidence in these reports and involve themselves
deeply in the movement. Operators having so much
oreduty generally have very little else consequently
their speculations usually result in ruin.
The stock market during the past week. has been In
nusnced by the advces have received from the seat
Of and from Europe. This influence has not been
In the aggregate favorable the accounts from Great
Britain have been sufficiently unfavorabe to counter
balance great effect arising from the prospect Of an
immediate peace with Mexico. II ia nearly three
months since the great reaction in the corn market of
England commenced, since which failures have taken
place to an immense amount and the greatest embar.
easements have been experienced In srces
The losses this side of the Atlantic from the bank.
rupcy in Europe, have, without doubt been exceedingly
large and have fallen principally upon one class of
merchants. As yet, we have heard Of no suspension
with excepton) of any Importance, but we fear
that many houses have been pretty thoroughly stripped
Of their resources aud remain shells liable to be
crushed at any moment.
In the race of these things, money markets con-
tinue perfectly easy The banks In spite Of the doubt
aud suspicion, which mnst naturally be attached to
many engaged in the trade discount freely and lib
orally and confidence appears TO be firmly established
should there be number Of heavy failures in
this market, things would change very suddenly, and
those sustaining themselves would be much embarrassed
in their operations by the restrictions which the banks
wonN Mt once place upon commercial credit SO long
the losses from failures the other side not 20 beyond
cur ahy TO boar there will be general arrangement
OF the money market general distress among the com
msrcai CLASSES Wecan stand great many reverses our
prohes on oreadstus have for tho past years.
very large and the losses large to wipe out this
vide margin. Then, again the losses, whatever they
may be- will, without doubt be very much distributed
falling pretty equally upon all sections of the country
The commercial operations of this country have with
IN tue past nve years, been so free from speculatons
credits nave been much restricted and we have had
no mauy local Influences at work. tending to check apy
iegmate expansion In any department Of trade that
most healthy state Of things has been preserved the
benefits of which we feeling The speculative
part OF The movement In breadstus has been confined
to the other side of the Atlantic The demand here has
been perfectly legitimate and prices have been regulated
solely by the demand and supply All attempts to get