The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-10-30
savisssaon Oh uuc ONO river.
MONEY MARKET,

"uous 10 not snow any great activity IN the mArket
All classes OF Spectators anxiouy waiting the arr
val of the French steamship Philadelphia with later in
tellisence from Europe, and We cannot expect any
material change in the market until arrival of some
sort from that quarter takes place.
At the first board, to-day Treasury Notes, Reading
Bonds Reading Railroad, Canton and Norwich, closed
at prices current yesterday Indiana SIS advanced
per cent; Harlem, u; and Lops Island y. Reading
Mortgage Bonds fell of u per cent.
At the second board, Pennsylvania SIS advanced u
per cent; Long Island Il; Farmers Loan, 4. Norwich
and Worcester fell of u. There large purchases of
Harlem in the afternoon
The demand for sterling exchange has been very
tive to day but the amount of bills the market, of
undoubted character, limited that the demand
by means satisfied. Canada and West India
bank bills offered nine and nine and half per
cent premium. The market is sbuudantly supplied
with second and third rate bills but those wishing to
NIT have not sufficient confidence in them We quote
prime bills on London at a 91a per cent premium. On
Paris, ST 23< ST. 221s Amsterdam, 4014 4O1s Ham
burg, IS 3614; Bremen, 1914 1871
The stockholders OF the New York and Harlem Rail-
road Company, will find in another column the report OF
the committee appointed to investigate the financial
affairs of the company and provide ways and means to
meet those payments pressing immediately upon the
concern. The plan proposed appears feasible.
The Sun Mutual Insurance Company have declared
dividend of twenty per cent the earned premiums of
the year ending 4h October si7 for which certificates
will beissued the first of January next. Also divi
dend Of six per cent in cash the SCRIP heretofore
issued, payable on the LIST of November next.
The Ontario Bank has declared semi annual diVi-
dend of four per cent, payable on demand
The New England worsted Company have declared
dividend Of three per cent.
We have repeatedly stated that tho advices received
from time to time from Europe have had other effect
upon commercial classes in this country than to unsete
the public mind and partially destroy confidence With
exception thus far that has been the only result Of
the financial difficulties In England and that exception
is the suspension of the house of Prime Ward Co. Of
this city The failure of that house took place after
the first news of the suspensions received from the
othesde and partially the result oheavy Losses In
CURED early in the season. The ture Of the foreign
business OF Prime, Ward Co. was such, that very
large portion Of their assets the hands of parties
on the other sde and their losses there will absorb
nearly the whole Of them leaving liabilities In this
try of nearly half million Of dollars upon which not
more than five ten cents the dollar be paid.
This, therefore, is had failure; but so far the only
one here growing out of the commercial connection
listing between this country and England. We
have been heavy losers by the failures in Eu-
rope-much heavier than ever entailed upon the
merchants or manufacturers of all Europe by suspen-
sions in this country; 1t appears that have been
well able to stand it, and the probability is that few if
any more failures on this side will grow out Of the
vulsion the other 1t is fortunate for that the
crash In England commenced late in the It
could not have happened long it have taken
place. at more favorable period Our exporting sea
son had just about closed when the crash came OF
cur exports had been paid for, and payments made
largely in specie, which have secured and the out
countries, running to maturity, had become very much
reduced Then, again. the crisis of the revulsion hay
Ing appeared before another commercial opened
shippers in this country have been able to make safer
selections in their agencies guard against losses upon
the new seasons business SO far all these things
are concerned circumstances have been exceedingly ia
vorabe. II We lose much Of the next years business
there will be to blame but ourselves We must
carry direct barter trade than have here
tofor-; the credit system between the two countries
be changed, and shall have the balance so
largely in favor that shall be better able regu
late the movements of specie than we have been.
The finances OF the general government continue, at
present in easy condition 1t is estimated that the
uods in the treasury department will carry the
until April next being but three months short of the
time ipulatsd by Secretary Walker. This shows a
favorable state Of things than generally anti
cipated from the that tho negotiations
peace had been suddenly broken of that all hope
had Ied for amicable arrangement Of existing diff
cutirs. 1t has not been yet determined upon what
method will be resorted to to raise money but 1t is
the general impression that another issue Of treasury
notes, with certain improvements to denomination,
SC will be the most feasible and the least expensive
way of supplying ways and means.
The policy Of the government in the prosecution of
the war Will, without doubt undergo immediate re-
vcution and with this change anticipate very great
reduction in the expenditures We consider the active
part Of the over; that u.s. the fighting part here
alter it will be more of passive character, In
which the Administration Of civil and military az
airs combined, will be. the principal feature. No
plan has yet been determined upon for the future
government of Mexico, as much depends upon crcum-
stances. The commander chief Of the army of occu
patton WILL as he progresses in the subugation Of the
country establish governors garrison towns and adopt
code of laws for the reguatono civil affairs he will
collect revenue from every available source for the pur
OF making the country support the he
may establish in the absence of its own and for the
purpose of securing that portion of territory our brave
soldiers have conquered.
Congress In about four weeks and 1t Is very
probable that the President will leave to the represen
tstive branches OF the government to mark the pro-
per plan for holding possession Of the whole of Mexico If
necessary, OF 10 DrluS WAT 10 al nonOraUIe ana
speedy close and the evacuation Of all territory but that
coded to by treaty We shall know nothing definite
about this matter until after Congress meets and in
the meantime the military operations Of Gen Scott
will be governed entirely by the pursued by the
Mexican government and the Mexican people.
The market value Of State stocks as We have be-
mentioned has deprecated very materially in the
face of the financial difficulties threatening us from the
other but the real value Of these securities is almost
daily increasing. Those States owning public works
will receive much larger income from them this year
than usual, notwithstanding the recent damages by
fteshets and while the from this source is in
creaspg rapidly the prosperity and wealth of
pie of those States have increased in greater ratio
Millions upon millions Of dollars worth Of produce have
found outlet by these works, which would otherwise
have been consumed wasted in the vicinity Of it's
growth aud the OF the country but partially
developed. The public works of the Western States