The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-03-13
rsvtz alton or thu Clio River.
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MONEY MARKET.
Friday, March IA p. M


The stock market still continues very nuch
but the fances feel the effect of the tghtness in tho
money market much more than the sound solid govern
ment securities Good stocks are now held for invest
eh more than usual and tho fances are rapidly reach
log their proper position The increased value of
money induces holders of the non.di sidend payiog
STOCKS 10 part with them for the purpose of employing
e captai IN other things, and the consequences it, that
these securities forced upon the market and decne
IN prices of course follows
Ihere is another and more important reason for the
ay sepreci1tion in the quotations for fancy stockswe
mean such fances have real value or such
''Hucn embarrassed in their finances to preclude
Possioty OF the stockholders realizing fraction
'he amount represented by the scrip, and that is the
iear that these securities will become exnguished
hucn more rapidly than holders have heretofore anti
oiPa'ed When money ia scarcs, and likely to con.
unue SO; when tho currency il steadily settling
uown upon pure specie basis when the value
VI money is rapidly increasing, and the rate of
interest advancing, capitalists both great and small
wiz not be satisfied to let their funds remain locked up
infancy stocks, purchased at paper prices, which
every day deprecating in actual value. Men of cans
ere never disposed 10 retain of these stocks
or any length Of time unless there very good grounds
Tor an improvement of SOME sequence, ultimately
They are merely held for that. for immediate
speculative advance, which will pay handsome profit
results being rsazed but the contrary, rything
connected with our financial affairs indicates q very
serious contraction in the movements of our banking in
stitutionr, very stringent money market, land
quenty depreciation in the value Of all investments
no matter what may be their name nature Nothing
will feel this state Of affairs severely han fancy
stocks. What they do not possess caunot DO take 4
away; allude to any real value; but prices which
have been inflated under the expanded operations OF
the banks, cannot BIO sustained under a contraction
more extensive than have realized since 1910 and
lsal, period of six or seven years.
AT the first board to-day Farmers Loan fell off "a per.
cent, Morris Canal u, Reading u, Reading Bonds u
Canton n, Norwich and Worcester n, Long Island a.
Treasury Notes, per cents advanced 4, and Harlem
closed at yesterdays prices.
AT the second board Norwich and Worcester declined
nan per cent, Reading d Reading Bonds 4 Harlem a
Farmers Loan q. The sales small at the decline.
There isvery little doing in foreign exchange and
Quotations are tending downwards We quote bills on
London at "a per cent premium, Paris Of as a Of
4sA' Amsterdam 49, Hamburg 34A 50, Bremen Tx
I'M Bill drawers find it very difficult to sell their bills
London, the banks have refused to discount the
paper Of those who have for sometime past been large
purchasers and they therefore unable to buy up bills
for their notes This seriously embarrass shippers
OF breadsufs prevents their realizing their ship
ments early the extent of their operations requires
1t has been reported that the steamboat "Corneus
Vanderbilt has been engaged TO run, for the ensuing
season, between this city and Alyn's Point in connec-
ton with the Norwich and " orcoster Railroad. Such
however, is not the fact she will be placed upon the
Sonngton route as soon as completed This boat, to
run alternately with the Oregon, will make that the 70
vorite summer line to Boston The Norwich and Wor
cesIer company cannot compete with the Stouington
company unless they get boats equal to the Vanderbilt
and tho Oregon and the condition of the oances Of that
company is such as to destroy every hope of its being
able to make change in the of that line
The trade of Matarzas for the year ending Dec 81,
1885, was much larger than in the previous year. psrcu
arly with the United States II is now the second port
in Cuba and its railroads. communicating with the sugar
and coffee growing Districts give very favorable po
sion. The exports in $40, were as follows -